ENS has released a revised version of its plan to establish a foundation, dropping the transfer of the DAO’s operational wallet after weeks of delegate opposition. The new draft maintains the 54.6 million ENS tokens and the operational wallet holding an estimated $16 million under tokenholder control, with only the $65 million Endowment Safe moving to foundation administration with timelock safeguards and Security Council cancellation rights. The proposed five-seat board includes co-founder Nick Johnson with a permanent seat, while independent directors will receive 40,000 USDC annually. ENS trades at $4.34, up 4.2% over 24 hours.
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