Lil Nouns DAO

Summary

Per the Discord call last week, we are going to deploy a VRGDA in place of the daily auction. You can read more about VRGDAs here. To do this, we must:

• Pause the daily auction (this proposal)
• Deploy the new Seeder and VRGDA contracts
• Set the seeder and minter on the Token contract to the VRGDA/SeederV2 (subsequent proposal).

VRGDA Details

Work and audit funded as part of Prop 195.

Frontend PR can be found here. Associated contracts can be found here. Audit results here.

Params

We decided on a community call last week that we’d start with a reserve price of 0.03 ETH (which can be changed in the future via proposal), and target selling 1 Lil Noun per day.

Other parameters include:

• Target Price (0.15 ETH)
• Price Decay Percent (20%) - pretty standard
• Pool size (4) - choose from 4 NFTs to mint

This proposal will serve as agreement from the DAO to deploy the VRGDA with the above parameters.