DeFi treasury manager Karpatkey has asked the Ethereum Name Service (ENS) DAO to consider activating the DAO’s endowment fund with 10,766 ether ($17 million), according to a recent governance proposal.

The endowment fund is a treasury management step taken by the ENS DAO to optimize its reserves. The DAO chose Karpatkey to manage the fund in a governance vote concluded last year. Karpatkey is supposed to manage $51 million worth of assets on behalf of the DAO. These funds will come from the DAO’s treasury, which currently holds $1 billion worth of assets.

Karpatkey’s $17 million funding proposal will constitute the initial seeding of the fund if approved. There are plans for two other monthly installments until the fund reaches its $51 million funding goal.