THE NEW SECURITY COMMITTEE IS OPERATIONAL FOR TWO YEARS

WU SAID HE HAD BEEN INFORMED THAT ENS DAO HAD ADOPTED THE PROPOSAL TO ACTIVATE THE NEW SECURITY COMMITTEE FOR A TWO-YEAR TERM. THE COMMITTEE, COMPOSED OF EIGHT MEMBERS, WITH OVER 5/8 SIGNATURES, MAY CANCEL TRANSACTIONS DEEMED MALICIOUS AFTER THE ADOPTION OF THE GOVERNANCE PROPOSAL AND BEFORE THE TWO-DAY LOCK. THE COMMISSION HAD NO AUTHORITY TO TRANSFER FUNDS FROM THE TREASURY, SUBMIT OR AMEND PROPOSALS, NOR COULD IT OVERRIDE THE DECISION-MAKING OF DAOS, BUT COULD EXERCISE THE VETO ONLY IN THE URGENT CIRCUMSTANCES PROVIDED FOR IN THE STATUTE. ENS INDICATED THAT ITS POWERS WOULD AUTOMATICALLY EXPIRE AFTER THE EXPIRY OF ITS TERM OF OFFICE UNLESS DAO AGAIN VOTED TO EXTEND THEM。