Lil Nouns DAO

It’s been a long journey with VRGDA since October 11, 2022, starting with proposal #64, followed by proposal #79 on December 9, 2022, then proposal #195 on April 10, 2024, and finally, proposal #213 on June 14, 2024.

We’ve spent tons of ETH on these farms, but if you ask anyone around here what VRGDA is, most likely they don’t even know. They just know we’re spending tons of ETH on something that seems like it’s never going to see the light of day, and no one even takes responsibility for it.

It’s been more than 40 days since the last delivery time promised from proposal #195. Since at this point no one is going to take responsibility for that, even those who sponsored these proposals, I’ve decided to repropose proposal #192 and see what the incentives are.

This proposal seeks to introduce a feature within the current Auction House smart contract for adjusting auction duration, alongside necessary subgraph and frontend updates. It’s aimed at enhancing the auction mechanism so we can change auction duration through proposals.

The ask has been reduced from 2.69 to 2 ETH, and the smart contract will be available within a week after the proposal passes, allowing auctions to be changed from 15 minutes to every 12 hours on a following proposal. The rest of the proposal deliverables, including subgraphs and frontend updates, will be delivered during 4 weeks after that as a pull request to the Lil Nouns monorepo.