From 8e3e57dcd76375c4b11062391a647e9c64615e48 Mon Sep 17 00:00:00 2001
From: Agora Governance Bot <138238379+agora-gov-bot@users.noreply.github.com>
Date: Thu, 12 Dec 2024 02:15:09 -0700
Subject: [PATCH] Add EP 5.22 (#343)

Co-authored-by: Greg Skriloff <35093316+gskril@users.noreply.github.com>
---
 app/local/config/navigation/protocol.ts |  4 +++
 docs/dao/proposals/5.22.mdx             | 34 +++++++++++++++++++++++++
 2 files changed, 38 insertions(+)
 create mode 100644 docs/dao/proposals/5.22.mdx

diff --git a/app/local/config/navigation/protocol.ts b/app/local/config/navigation/protocol.ts
index fd5bac03..b6f0080b 100644
--- a/app/local/config/navigation/protocol.ts
+++ b/app/local/config/navigation/protocol.ts
@@ -413,6 +413,10 @@ export const navigation: SectionData[] = [
                         title: '5.24 - [Executable] Term 5 Q4, Collective Working Group Funding Proposal',
                         href: '/dao/proposals/5.24',
                     },
+                    {
+                        title: '5.22 - [Executable] ENSv2 Development Funding',
+                        href: '/dao/proposals/5.22',
+                    },
                     {
                         title: '5.21 - [Social] Governance Security Bounty',
                         href: '/dao/proposals/5.21',
diff --git a/docs/dao/proposals/5.22.mdx b/docs/dao/proposals/5.22.mdx
new file mode 100644
index 00000000..cfa76246
--- /dev/null
+++ b/docs/dao/proposals/5.22.mdx
@@ -0,0 +1,34 @@
+{/* * @type {import('@/lib/mdxPageProps').MdxMetaProps} */}
+export const meta = {
+    description: 'This proposal seeks to implement the revised budget stream to ENS Labs to develop, maintain and audit ENSv2.',
+    emoji: '📖',
+    contributors: [
+        'katherine.eth'
+    ],
+    proposal: {
+        tally: '33504840096777976512510989921427323867039135570342563123194157971712476988820',
+        type: 'executable'
+    }
+};
+
+# [EP 5.22] [Executable] ENSv2 Development Funding
+
+## Summary
+
+This executable proposal seeks to implement the revised budget stream to ENS Labs develop, maintain and audit [ENSv2](https://discuss.ens.domains/t/ens-labs-development-proposal-ensv2-and-native-l2-support/19232). The motivation, justification, budget breakdown, and development plan was previously detailed in a [Temp Check](https://discuss.ens.domains/t/temp-check-ensv2-development-funding-request/19762) request.
+
+## Background
+
+With over 3 million .eth names and 20 million more ENS names registered by the likes of Coinbase, Uniswap, and Linea – ENS has become the standard for web3 identity. As Ethereum's roadmap evolves towards being rollup-centric, it's essential for ENS to adapt in parallel, ensuring it meets the needs of both the Ethereum ecosystem and its users.
+
+To continue scaling and evolving ENS, ENS Labs is requesting an increase in its annual budget from $4.2M USDC to $9.7M USDC, and a one-time grant for future security audits of ENSv2. This revised funding is necessary for ENS Labs to develop, maintain, and audit ENSv2, a major upgrade that will enhance decentralization, flexibility, and scalability by leveraging Layer 2 solutions and redesigning the ENS protocol from the ground up.
+
+### Links
+
+- [\[Temp Check\] ENSv2 Development Funding Request](https://discuss.ens.domains/t/temp-check-ensv2-development-funding-request/19762)
+- [ENS Labs development proposal: ENSv2 and native L2 support](https://discuss.ens.domains/t/ens-labs-development-proposal-ensv2-and-native-l2-support/19232)
+- [ENS Labs Transparency Reports](https://discuss.ens.domains/t/ens-labs-transparency-reports/19806)
+
+## Specification
+
+This executable proposal will initiate a new daily stream of 15,075.33 USDC from the ENS DAO treasury to ENS Labs, starting on January 1, 2025\. This will run in addition to the existing streaming contract of 11,500 USDC/day at 0xB1377e4f32e6746444970823D5506F98f5A04201, for a total of 26,575.34 USDC/day ($9.7M USDC/year).