ENS Community Makes DAO's Fund Management Decision

ENS Community Makes DAO’s Fund Management Decision

Ethereum Name Service (ENS) will entrust the donation funds to Karpatkey according to the voting result on the decentralized management side of the project.

The decentralized domain name service ENS continues its Web3 initiatives at full speed. The popular project received a lot of attention for its domain name service on the Ethereum base. The project also came to the fore by leaving its management completely to its community. The platform, which turns hard-to-read data for wallet addresses and hashes into easily readable addresses, has gone to a new vote with its community. The vote was asked about the management of DAO donations. The community has chosen Karpatkey with a large percentage in this regard.

ENS DAO to Trust Karpatkey with $52 Million Fund
Treasury management platform Karpatkey will manage the $52 million endowment funds of the Ethereum Name Service (ENS) DAO.

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The voting, conducted by the DAO, took place from 18 to 23 November. Apart from Karpatkey, Avantgarde and Llama also took part in the voting. The community was also presented with the none option. Voting was carried out by the graduated method. In the results, where Karpatkey was first, the none option took second place.

Cryptocurrency exchange Coinbase and Ethereum wallet platform Rainbow opted for the none option. Defending his choice, Coinbase stated that the risk and reward in the ENS DAO do not seem reasonable.

Justin Sun deals with FTX assets
Justin Sun is responsible for the creation of the cryptocurrency network Tron and is currently consulting for the Huobi Global digital asset exchange. Answering questions from journalists in Singapore, Sun stated that his team is in the Bahamas to hold talks with FTX. He later clarified that this statement referred to representatives of both Tron and Huobi, as well as the Bahamas.

Recently, FTX has decided to sell its various business units and subsidiaries, so the company has entered into a deal with investment banking firm Perella Weinberg Partners.

According to Justin Sun, mistakes made by Bankman-Fried will significantly affect the perception of cryptocurrencies among regulators, institutional investors and other parties.

“The failure of the SBF will leave a very negative impression on American society regarding the cryptocurrency industry.”

Before FTX filed for bankruptcy protection, Justin Sun and FTX were discussing how to protect Tron token holders. These discussions took place before FTX claimed protection against creditors.

However, CryptoQuant CEO Ki Young Ju expressed serious concerns about the FTX-TRON agreement and suggested that it is illegal. He thought that this would only cause the TRON token to rise in price in FTX and that Justin Sun could sell them for a higher price.

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