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[EP5.6] Enable Self-Funding for the Endowment #83

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[EP5.6] Enable Self-Funding for the Endowment #83

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Create governance-pr[EP5.6] Enable Self-Funding for the Endowment
santinomics Apr 4, 2024
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Rename governance-pr[EP5.6] Enable Self-Funding for the Endowment to …
santinomics Apr 4, 2024
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Rename EP5.6-enable-self-funding-for-the-Endowment to EP5.6-enable-se…
santinomics Apr 4, 2024
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54 changes: 54 additions & 0 deletions governance-proposals/term-5/EP5.6-enable-self-funding-for-the-Endowment.md
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---
description: This proposal introduces an allowance that grants the Metagov stewards the authority to withdraw up to 30 ETH monthly from the Endowment, designated for payments to @karpatkey and @steakhouse for their services in managing the Endowment and refunds the Metagov Safe for expenses incurred through payments to karpatkey and Steakhouse Financial in January and February 2024.
---

# [Executable][EP5.6] Enable Self-Funding for the Endowment

| **Status** | Pending |
| --------------------- | ------------------------------------------------------------------------------------------------------------------------------------------- |
| **Discussion Thread** | [Discuss](https://discuss.ens.domains/t/ep-5-6-executable-enable-self-funding-for-the-endowment/18998) |
| **Votes** | Tally |
| **Authors** | @karpatkey|


## Abstract

This proposal outlines a strategic shift allowing the Endowment to autonomously finance its operations. Specifically, it grants the Metagov stewards the authority to withdraw up to 30 ETH monthly from the Endowment, designated for payments to karpatkey and @steakhouse for their services in managing the Endowment. This initiative provides the stewards with a direct allowance for these expenses, eliminating the need for these costs to be continually factored into their requests for DAO budget allocations.

Additionally, this proposal seeks to reimburse the [Metagov Safe](https://etherscan.io/address/0x91c32893216dE3eA0a55ABb9851f581d4503d39b) for the payments made to karpatkey and Steakhouse Financial during 2024, covering the service fees for [January](https://etherscan.io/tx/0x4ef4b34d397e6ce1fbe1fbe3e94340dcf02d590fc9d93c7107a76282beb201c6) and [February](https://etherscan.io/tx/0xdd631a42ccc3762e285276043926c52b86dedbc70fa34dddd611585a38534a89), which total 43.54 ETH.

## Motivation
Since the initiation of the Endowment through the execution of the [first tranche](https://discuss.ens.domains/t/ep3-4-executable-fund-the-endowment-first-tranche/16277#specification-3), payments to karpatkey and Steakhouse Financial for their services have been categorised as operational expenditures. These costs were funded through the Metagov Safe, necessitating routine funding requests from the Meta-Governance Working Group to the DAO.

To simplify and enhance the financial autonomy of the Endowment, we propose granting a monthly allowance of up to 30 ETH to the Metagov Safe by leveraging the Spending Limits feature available on Safe.

This measure allows Metagov stewards to settle Endowment fees directly from funds within the Endowment itself, thus eliminating the regular necessity to refill the Metagov Safe. Should the allowance cap be reached, further withdrawals will be paused until the commencement of the next 30-day cycle. This adjustment eradicates the need for frequent funding operations, paving the way for the Endowment’s sustained self-sufficiency.

The monthly cap of 30 ETH has been carefully chosen to align with the Endowment’s scale and historical fee structure, ensuring it suffices to cover monthly expenses. Should there be a need to revise this limit to better suit future requirements, adjustments can be facilitated through the submission of a new proposal.

Finally, to ensure the strategic shift is applied retroactively from the outset of 2024, this proposal requests that the Endowment reimburse the Metagov Safe for expenses incurred through payments to karpatkey and Steakhouse Financial. This reimbursement, aimed at covering the service fees for January and February 2024, amounts to a total of 43.54 ETH.

## Specification

The following payload will be executed by the DAO Wallet to create the mentioned allowance and refund:

```
Calldata:
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

Target:
0x4f2083f5fbede34c2714affb3105539775f7fe64

Value:
0
```
```
Calldata:
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

Target:
0x4f2083f5fbede34c2714affb3105539775f7fe64

Value:
0
```