Proposal 991Executed

Cancel the Endaoment Stream

proposed by 0x0b44…1485

Quorum

The For votes a proposal needs before it can pass

359 / 169 For votes of the quorum

100.0%

Quorum met · 190 over

Request size

Vote result

Which side is ahead

Turnout

432 / 1,361Nouns

31.7% cast

Proposal end

Voting period ended

Ended

61d 4h ago · Executed

Opened

Sun, Aug 23, 2026, 6:01 PM UTC

block 25,819,520

Closed

Thu, Aug 27, 2026, 6:21 PM UTC

block 25,848,320

Hello Nouners,

I'd like to propose that we cancel the 120 WETH charity stream to Endaoment that was passed in Prop 471, and return the unstreamed balance to the Treasury.

Prop 471 committed 120 WETH over 10 years, about 12 ETH per year until November 2033 — to Endaoment's Universal Impact Pool. I don't think a decade-long automated stream is the right way for us to be charitable, for two reasons.

First, we already give directly, and we do it well. The most recent example is Prop 960, "Party Under the Sea", where we funded a real charitable project with a USDC grant that the DAO voted on with full context. Direct grants let us decide the cause, the amount, and the recipient at the time we give, on the merits of each one. A standing 10-year pipe to a single intermediary does the opposite, it pre-commits our Treasury years in advance and takes that decision away from the Nouners who come after us.

Second, the capital does nothing while it waits. The 88.55 WETH still inside this stream is locked in the stream contract and drips out slowly through 2033, earning no yield for us while it sits there. Returned to the Treasury, it can be put back to work alongside our primary staked assets (wstETH, mETH, rETH, and WETH) at our current ~2% staked yield, and it stays available for us to deploy, including on charity, directly - whenever we choose.

Here is the stream today:

The Endaoment stream (Prop 471)

Description	Value
Total committed	120 WETH
Streamed to date (~26%)	31.9 WETH
Remaining in the stream	88.1 WETH
Returned to the Treasury on cancel	88.1 WETH

This stops only the unstreamed portion. It does not claw back the WETH already delivered to Endaoment, and it does not touch the ~2 WETH currently vested and claimable.

And here is what that balance is worth to us back in the Treasury:

Yield on the returned balance

Description	Value
Returned to the Treasury	88.1 WETH
Estimated annual yield (2%, accrued daily)	~1.77 WETH
Remaining term (to Nov 2033)	~7.3 years
Estimated yield we forgo by continuing to stream

Votes & reasoning26

For

359Nouns · 83.1% · 16 wallets

0x2117…e42a64d 0h ago5Nouns
Voting for purely out of it is smart the allocated funds earn value while earmarked. Having it sit somewhere not earning/working is a waste. Wasn’t around for previous prop, would love to see a new stream with the capital that is working.
0xdfb6…d93965d 1h ago4Nouns
use 120 wETH to build moore's "Music Schools" across the world
0xc6a3…96e465d 3h ago2Nouns
great initiative in spirit, not so great in actuality

I met with members of Endaoment's C-suite at a private Coinbase side event at ETH Denver 2024, + a number of meetings during the DUNA transition to discuss 501c3/ fiscal sponsorship; nothing against them or their organization in this vote

the UIP just isn't an effective model for philanthropic capital allocation. Endaoment's own dashboard shows over half the funds aren't easily categorizable. the pool's top funded organization is GiveDirectly, which essentially just gives poor people cash

Coinbase had their own charitable arm called GiveCrypto which did the same thing as GiveDirectly, and they shut it down saying they, "...were unable to create a lasting impact with recipients, who returned to the same baseline after payment ceased."

unfortunately the UIP and our stream to it more closely resembles the non-profit industrial complex than any sort of new modality of charitable impact

despite small holders antagonism and large holders not being responsive to direct communication onchain or through private channels, I still think Nouns establishing a lean sister 501c3 with de-minimis compensated core staff, for the DAO to build a charity-specific secondary treasury via tax-deductable donations to the sister org and make direct charitable capital allocation through governance is one of the better opportunities for Nouns to legitimize itself beyond the crypto bubble and be the cultural layer + PR firm for crypto/ ETH that is often discusses
0xca85…62a462d 21h ago1Noun
Endaoment does not properly vet "some" of its organizations beyond them having a 50c3 on paper. They, by their own admission do not have the interest in doing so either. Why are we wasting money like this?! When this funding could go to grassroots organizations doing good BETTER. DAF (Donor Advised Funds) are also extremely problematic and we need more transparency than Endaoment can offer at this time. We should be much more diligent and seek to build long term relationships with the organizations we fund and serve. Thank you for putting this up and doing the write thing!
0x77a5…350262d 0h ago0Nouns
pNouns holders voted on Snapshot (earlgreyai.eth), verified on-chain by pNouns Snap Voter: FOR (tokens for/against/abstain = 27/0/0, voters = 2/0/0)

Abstain

39Nouns · 9.0% · 2 wallets

0xcc26…6ed561d 15h ago37Nouns
Abstain - Wins

FOR - 7 VOTES

nataliecrue | "Not sure why people are voting against when they don’t participate nor do they thoroughly vet organizations by their own admission."

AGAINST - 8 VOTES

coolbeans1r.eth | "Would love to see this money go elsewhere, putting it into the treasury is the opposite of what should be done. It was already spent on charity, it should still be spent on charity IMO."

ABSTAINS - 10 VOTES

Against

34Nouns · 7.9% · 8 wallets

0xf84a…b5a864d 9h ago12Nouns
the objective of prop 471 went beyond funding charitable initiatives through Endaoment. it was an early landmark to demonstrate how onchain communities can coordinate a permissionless and trustless payment stream over a decade.

Endaoment is operating under the same circumstances any other charitable donation body has to function. With all it's inefficiencies and efficencies, and errors in not being 100% effective.

For a significant amount of Nouns DAO's recent history, we have been incapable in coordinating a cohesive direction for the DAO. However I'm open to the plot-twist where Nouns eventually embodies a superior capability to Endaoment to coordinate funds towards charitable projects more effectively and efficiently.
0xae47…5fed64d 2h ago4Nouns
not clear how this makes nouns great again besides bv go up, would like to see more efficient proposal and poa
0xdcb4…5e5e62d 4h ago4Nouns
FOR 0 VOTES

AGAINST 161 VOTES

mikegood.eth

ABSTAIN 0 VOTES
0x073f…2e6361d 15h ago3Nouns
Clearly an attack on the DAO, if the Founders / veto committee do not veto this proposal they are encouraging these types of actions & therefore working against the members.
0xf6e7…6aa962d 10h ago2Nouns
TL;DR: Cancelling an approved charitable stream to reclaim capital into the treasury for yield reverses mission spending on the exact treasury-efficiency logic the constitution rejects,…

Prop 471's Endaoment stream is charitable/public-goods mission spending (I.1, I.4), and this proposal's core action is to defund it and recover the unstreamed ~88 WETH back into the timelock. The stated justification — that capital 'does nothing while it waits' and should earn ~2% yield — is precisely the 'treasury as product' / treasury-efficiency reasoning the Preamble and II.3 warn against, and it walls active mission capital back into the treasury (the II.4 'freeze' direction). The promised replacement of deliberate direct charity is an unenforced future promise, not part of this calldata, which merely calls cancel() and recoverTokens() to the treasury (consistent with the prose, no mismatch). Because it restructures an existing treasury position and rests on a yield rationale, it is flagged structural and escalated.

[ suggestions ]
- Pair the cancellation with a concrete, funded direct charitable grant so mission giving continues rather than reverting to treasury hoarding.
- If the concern is stream design, propose a shorter or milestone-based charitable vehicle instead of a net reduction in charitable outflow.
more @ nounsvote.com
0x4b67…40cb63d 4h ago1Noun
FOR 0 VOTES

AGAINST 1 VOTES

0xae47...5Fed | "not clear how this emphasizes noc"

ABSTAIN 0 VOTES
0x1d2f…d80161d 17h ago1Noun
We are nuts — we roll, we cast.

FOR 0 ABSTAIN 0 AGAINST 0

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