Builder DAO

Neokry is currently serving as a Resident Engineer under Builder Proposal #56 and is requesting a 6-month extension.

Major contributions from the last three months

Subgraph

• Developed a subgraph to make data fetching easier for nouns.build and other clients.
• Reduced reliance on zora apis and allowed builder to own our indexing / backend.

Client (nouns.build)

• Migrated data layer to subgraph.
• Upgraded to support L2.
• Improved loading speeds and caching.
• Many bugfixes and minor changes.

Builder Protocol

• Deployed contracts across chosen L2s.
  • Optimism
  • Base
  • Zora
• Developed the specification for our next upgrade named “Bali”.
  • Token Claiming
  • Alternate Core Contract Implementations
  • Protocol Rewards
  • Sequential Media Metadata Renderer
  • Collection +
• Finished the majority of inital implementations for the upgrade.
• Engaged with zora protocol engineers on code reviews prior to audits.

Engineering community

• Onboarded a new part time resident Jord.
• Hosted a weekly product and engineering session with Zaak.
  • Allowed us to onboard new devs, answer questions and present new developments / upgrades to the DAO every week.
• Worked with Zaak on onboarding two more part time residence. (WIP)
  • Ripe: Developing tools around droposals as a sustainible mechanism for dao and protocol funding.
  • Martin: Assisting with L1 -> L2 dao migration frontend work.
• Helped iamnick think through product tradeoffs for a music focused client Fam.
• Started the developer open prop house round.
  • This prop house round failed to find traction and will be iterated upon in the coming months likely as an open small grants committee for devs.

Goals for the next 6 months

Client (nouns.build)

• L1 -> L2 DAO migration
  • Work closely with Martin on integrating features needed to allow L1 DAOs to migrate to L2
    • Allow DAO members to “one click deploy” a copy of their DAO to L2.
    • Create a claiming flow that allows L1 DAO members to claim tokens on L2.
• Mixed media DAO artwork
  • Allow folders of mixed media to be used as DAO artwork (images, videos, audio).
  • Support rendering of mixed media DAO artwork on DAO pages
  • Support custom metadata renderers at the subgraph / client level
• Collection +
  • Upgrade the create flow and DAO pages to allow users to create DAOs from current NFT collection ie PFP projects, open editions, generative artworks.

Builder Protocol (Bali)

• These are actions needed to deliver the Bali upgrade
• Wrap up all inital implementations
  • Finishing legal discussions surrounding protocol rewards
  • Pending code reviews on custom metadata renderers and new minters
• Engage with auditors to audit the upgrades
  • Currently waiting for quotes from Code4rena, Sherlock and Spearbit
  • Will present options and reccomendations to the DAO in the coming weeks
• Post audit work
  • Work with auditors to implement solutions to any critical issues
  • Deploy finalized contracts to supported networks
• Setup Builder DAO proxy and Hats tree
  • Allow Builder DAO to manager upgrades and collect fees on L2 with safeguards via Hats protocol.

Builder Protocol (Next upgrades)

• These are ideas for the next protocol upgrade and subject to change
• VRGDAs as an alternate auction mechanism
  • Removes settlement fees and transactions which has been a common user painpoint
  • Allows users to puchase tokens without waiting auction cycles to end leading to better onbaording UX
  • Increases flexibility of token distributions
    • frontload tokens to quickly build a large community
    • slowly ramp up distribution to start a more curated dao
  • Useful for DAOs that want smoother onboarding / more specific distribution options
• Crosschain proposals and proxies for DAOs
  • Allow DAOs to hold assets across networks
    • Hold NFTs and ERC20 tokens on their native networks
    • Collect fees on alternate networks
  • Allow DAOs to interact with protocols across networks
    • Create and mint NFTs across networks
    • Payout contributors on cheaper networks like base
    • Propose upgrades and protocol changes across networks
• Droposal alternate governor
  • An alternate governor proposed by Agora for Nouns
  • Allows DAOs to set a shorter turnaround period for Droposals compared to full proposals ie 2 days vs 5 days.
  • Can potentially rework Agoras implementation to fit Nouns Builders needs
• Proposal candidates
  • Monitor proposal candidates from Nouns as a way for users to seek onchain feedback for proposals
  • Can potentially rework Verbs implementation for Builder protocol.

Making Builder DAO Sustainable

• We are planning to expirement with several revenue gereration strategies for BuilderDAO going foward.
• Protocol rewards
  • After the Bali upgrade Builder DAO will have three protocol rewards
    • BuilderDAO Rewards: % of auction revenue sent to Builder DAO for protocol and ecosystem developments.
    • Client Rewards: % of auction revenue to a referrer like a custom client to fund new client developments.
    • Founders Rewards: % of auction revenue to DAO founders to incentivize DAO creation and incubation where the % is chosen by the DAO founder and conrolled by the DAO they deploy.
  • Note: There will be a Snapshot proposal to get the DAO’s opinion on this. Should that fail to pass, we will omit from the scope.
• Revenue from droposals via Zora protocol rewards
  • Builder DAO will earn revenue on collection deployments and mints via the new droposals interface built by Ripe
• Flat fee on Collection + claims
  • Builder dao will earn revenue on a flat claim fee when users claim Collection + NFTs.

Funding Request

$18,750 USD / Month for 6 months (12 ETH/ month @ $1600 ETH/USD price)

Total of $112,500 USDC streamed via Sablier (Total ~70 ETH @ $1600 ETH/USD price)

Why the increased rate

• Majority of focus shifting to protocol engineering.
• Deep knowledge of smart contracts and Builder protocol required, distinct from frontend work.
• Complex nature of protocol development including testing, reviews and audits to ensure security.
• Much higher level of responsibility and attention to detail.
• Majority of previous residency goals met.

Multisig

*The equivalent of ~$120k (to absorb potential volatility in ETH from time period between submission and execution) would be sent to a multisig as outlined below. They would then convert $112,500 worth of ETH to USDC, set up the Sablier stream and then send back the remaining ETH to the DAO.

Gnosis Safe to handle Neokry’s transaction:

• 0x0bFcef6f9389d209D8D943ebA2893156fb5Ea929

Signers:

• zaak.eth: 0x77ac30452890E5210CB334f601a0A6E8F0A5201B
• neokry.eth: 0x04bfb0034F24E424489F566f32D1f57647469f9E
• thenounishprof.eth: 0xCEEd9585854F12F81A0103861b83b995A64AD915

Recipient:

• neokry.eth: 0x04bfb0034F24E424489F566f32D1f57647469f9E