1/ @ENS_DAO Endowment 2025 Annual Review Key highlights: • $3.56M DeFi results • 20% of operating expenses covered • $113.8M AUM, fully deployed • Enforced diversification limits and risk controls Focused on capital preservation, liquidity, and operational resilience.

2/ Assets under management closed the year at $113.8M: • ~61% ETH (~$69.5M) • ~39% stablecoins (~$44.4M) Allocation remained within mandate throughout the year, with capital fully deployed.

3/ Total DeFi results reached $3.56M over the year. Average APY: • Stablecoins: ~5.04% • ETH: ~2.75% • Total: ~3.39% net Returns were generated while maintaining high liquidity and avoiding concentrated or directional risk across positions.

4/ No single protocol exceeded 30% of total exposure at any point during the year. The largest positions were sUSDS (~27.2%), Stader (~18.1%), and StakeWise v3 (~18.0%), with ETH exposure to Lido capped at 20% to limit validator and protocol concentration.

5/ Risk management in 2025 prioritised real-time monitoring and rapid execution within enforced limits. In November, abnormal activity across Compound stablecoin markets triggered alerts, leading to the withdrawal and redeployment of $5.1M USDC and a temporary reduction of exposure to zero.

6/ Full ENS Endowment 2025 Annual Review: