# Spending Summary - Working Groups Term 4 (July 2023 - December 2023)
## Introduction

In July 2023, the [Ecosystem](https://discuss.ens.domains/t/q3-q4-2023-budget-ens-ecosystem-working-group/17536), [Metagovernance](https://discuss.ens.domains/t/q3-q4-2023-budget-ens-metagovernance-working-group/17549), and [Public Goods](https://discuss.ens.domains/t/q3-q4-2023-budget-ens-public-goods-working-group/17547) Working Groups published budgets that set the intended spending allocations for the term. None of these proposed budgeted amounts surpassed that of the funds that were already in their respective working group multisigs, so no voting occured to move funds to the Working Group multisigs in the beginning of the term.

These charts will provide an overview of working group spending during the term.

# All Working Groups

#### Combined Spending

The total working group spending was $1.5m as of December 13th, 2023, utilizing month-end price equivelents for the months that [ETH](https://www.coingecko.com/en/coins/ethereum/historical_data#panel) and [ENS](https://www.coingecko.com/en/coins/ethereum-name-service/historical_data#panel) transactions occured. Price data was sourced from Coingecko.


# Individual Working Groups
## Ecosystem

The Ecosystem working group spent 395,685 USDC and 84 ETH across 5 categories

#### Spending Across Initiatives
Spending occurred across all ENS Ecosystem multi-sigs as defined in the [Ecosystem Term 1 2023 Budget Request](https://docs.ens.domains/v/governance/governance-proposals/term-3/ep3.1.1-social-q1-q2-2023-funding-request-ens-ecosystem-working-group). This chart depicts spending rolled up into meaningful categories to broadly illustrate the use of funding this term.

| Category | USDC | ETH |
|----------|------:|-----:|
| Grants | 200,000 | 73 |
| Bug Bounties | 100,000 | 0 |
| Hackathons | 22,925 | 0 |
| Support | 31,802 | 0 |
| Other | 40,958 | 11
| **TERM 1 2023 ECO SPENDING** | **395,685** | **84**

#### Grants
This category combines several grant initiatives including [ENS Fellowship](https://discuss.ens.domains/t/ens-fellowship-term-4/17958), [Small Grants](https://ensgrants.xyz/), and [Rolling Grants](https://discuss.ens.domains/t/term-4-grants-summary/17624) provided to top ENS projects. These grants funded numerous projects throughout the term, including but not limited to, ENSTools, Fluidkey, Namesys, ETH.LIMO, Buidl Guidl, and 1w3.

The largest expense categories are as follows:

| Category | USDC | ETH |
|-----------------|------------:|-----:|
| Rolling Grants | 90,000 | 0 |
| eth.limo | 50,000 | 25 |
| Buidl Guidl | 0 | 15.4 |
| Fellowship | 60,000 | 0 |
| Small Grants Winners | 0 | 32.4 |
| Other | 0 |0.25|
| **Grants** | **200,000** | **73** |

#### Bug Bounties
During the term, The Ecosystem Working Group compensated a [security advisory report](https://discuss.ens.domains/t/security-advisory-a-malicious-dao-update-could-reduce-the-registration-duration-of-registered-eth-2lds/17576) that demonstrated how a malicious DAO update could reduce the registration duration of registered .eth 2LDs.

#### **Hackathons**
Payments and planning for Hackathons can happen in the term before they actually occur and because ENS DAO uses a cash-basis accounting method to track payments, the costs are shown before the event occurs. The hackathon budget for the term was mostly spent on ENS's upcoming sponsorship at [ETH Denver](https://www.ethdenver.com/).

#### Support
These funds were used to support ticket coverage across the ENS Discord, Twitter, and governance forum that keep ENS informed and organized.

## Meta-Governance
The Meta-Governance working group spent 303,673 USDC, 16.4 ETH

| Category | USDC | ETH | ENS|
|---|---:|---:| ---: |
| DAO Compensation | 138,200 | 0 | 6,200
| DAO Tooling | 110,000 | 0 | 1,000
| Endowment Fees | 0.0 | 47 | 0
| Audit | 49,000 | 0 | 0
| Other | 6,473 | 3 | 0
| **TERM 1 2023 MG SPENDING** | **303,673** | **50** | **7,200**

#### DAO Compensation
The Meta-Governance working group funds compensation to DAO stewards and secretary as provisioned in the [Metagovernance Term Q3/Q4 Budget Request](https://discuss.ens.domains/t/q3-q4-2023-budget-ens-metagovernance-working-group/17549) and subsequently updated in November in [ENS DAO Steward Compensation](https://discuss.ens.domains/t/ens-dao-steward-compensation/18063) codification.

#### DAO Tooling
Costs associated with tools needed for DAO functions such as voting and coordination. A majority of this cost is associated with the funding of the [ENS Governance Site](https://agora.ensdao.org/) built by Argora and a pre-payment for their work in the first half of 2024.

#### Endowment Fees
Endowment Fees are costs paid to Karpatkey for managing the ENS treasury. Results can be seen in Karpatkey's [Endaoment Proposal](https://discuss.ens.domains/t/updated-endaoment-proposal-karpatkey-steakhouse-financial/14799)

## Public Goods
#### Summary
The Public Goods working group spent 345,000 USDC and 42 ETH.

| Category | USDC | ETH |
|---|---:|---:|
| Grants | 337,500 | 42 |
| Hackathon | 7,500 | 0 |
| **TERM 1 2023 PG SPENDING** | **345,000** | **42**

#### Grants
Public Goods Grants are broken into the following categories

| Category | USDC | ETH |
|-----------------|------------:|-----:|
| Large Grants | 337,500 | 0 |
| Small Grants Winners | 0 | 27 |
| Builder Grants | 0 | 15 |
| **Grants** | **337,500** | **42** |

#### Hackathon
The funds spent in the public goods budget went to the Funding the Commons Hackathon and notDevcon sponsorship.