ENS DAO may sell ten thousand ETH to raise funds.

A member of the Ethereum Name Service (ENS) DAO, which stands for Decentralized Autonomous Organization, has proposed in a governance proposal that the organization allocate 10,000 Ether (ETH) to fund operating expenses over the next two years. Finish it.

ENS is a decentralized framework for registering domain names, and in 2022 it managed to record more than 2.8 million domain registrations. The ENS community is now engaged in discussions on the draft proposal which was submitted on 18 January.

The DAO treasury now has a balance of 40,746. ETH 2.46 million USDC as well. Through the use of the Gnosis auction, the sale of 10,000 ETH will result in the creation of at least $13 million worth of USDC stablecoins.

Does ENS Benefit Ethereum?

Ether’s price has fallen 68.6% since the debut of ENS in November 2021, falling from $4,850 to $1,526 in that time.

According to adviceDespite the fact that ENS brings income in the form of ETH, thanks to its protocol, The DAO is in an uncertain situation because it has such a large amount of a single volatile asset.

Since the beginning of the year, the value of the ENS token has increased significantly, going from $10.73 to $13.68.

Despite reports of a sell-off, ETH price continues to rise.

This development comes amid various speculations surrounding ETH. Staining Circling. Staking on Ethereum has picked up steam over the past few months as an increasing number of users choose to stake their ETH to earn rewards.

In a tweet, Adam Cochran, a venture partner at MetaCartel Ventures, compared staking Ethereum to buying Internet infrastructure after the dotcom crisis.

The comparison is interesting because it shows that staking Ethereum is not only a way to earn rewards, but also an investment in the future of the Ethereum network. This idea is interesting because it suggests that stocking Ethereum is not only a way to earn rewards, but also an investment in the future.

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