Lil Nouns DAO

Create new workstream: Nouns Acquisition Committee

The DAO has socially signaled a desire to acquire Nouns:

We propose the creation of the Nouns Acquisition Committee workstream: a group comprised of Lil Nouners who facilitate the purchase of Nouns on behalf of the DAO. This approach allows the DAO to acquire Nouns via auction to support Nouns DAO treasury and increase our Noun token holding. We plan on leveraging a new multisig to conduct bidding until we have a trustless/bot solution ready for launch. In this proposal, we will request 75 ETH to be used to bid. We have also already sent a lil noun to the new multisig and registered the subdomain acquisitions.lilnouns.eth to the multisig to be visible in the Nouns auction bidding feed.

Past approach and issues

We will no longer be buying from secondary and making OTC deals like our prior sales because they incur a net loss of ETH to Nouns DAO treasury and the practice is easily gamed by secondary market participants. We established our initial holding via OTC deals to assure successful acquisitions, and now that we are established, we will only support Nouns DAO treasury going forward.

Workstream mandates

• Attempt to acquire 1 Nouns from the daily public auction.
• For any given auction, do not exceed 20% of average settle price of the last three (3) auctions.
• If a nouns is successfully acquired, we will send it directly to the treasury upon settlement of the token.

Workstream members

al409 - al409.eth

Victor Solomon - vsvsvs.eth

Brook - broook.eth

Ames - ames.eth

Noun Acquisiton Committee Multisig: 0x0D596A63E02b76169A94285d6E82E81282c6eb8c