Lil Nouns DAO

Proposal Overview

I’m seeking funding to expand the Lil Nouns brand on Farcaster through the Lil Nouns Lab. My goal is to build tools within the Farcaster ecosystem to boost engagement and support other Lil Nouns initiatives on the platform. The total ask is 6.9 ETH, respecting the meme, but significantly less considering the efforts already made and those planned, mindful of our minimal treasury. This proposal aims to fund the Lil Nouns Lab until the end of 2024.

Customer Retention is Key

Anyone who’s built a business knows that keeping customers is easier and more vital than acquiring new ones, especially compared to the hypothetical potential customers we have not been able to achieve through other initiatives in the past year. In this context, “customers” are our community members. My mission is to rekindle lost connections and engagement among Lil Nouners.

Current Reach and Potential

Farcaster data reveals that over 700 Lil Nouners have verified their wallets on the platform, representing a third of all Lil Noun holders. The Lil Nouns Lab aims to enhance engagement within this social network by connecting with these members.

Progress and Achievements

Over the past year, I’ve engaged with many less active Lil Nouners on Farcaster, experimenting with various tools to revive community engagement. Here’s what I’ve accomplished:

• Developed numerous bots, channel automations, frames, and tools, open-sourcing some and planning to do more as they mature.
• Driven thousands of views to our frontend, as confirmed by Google Analytics and UTM link results.
• Launched DC-based notifications, our most recent initiative, which has already shown a reasonable impact.

These efforts have significantly boosted monthly voter turnout, which is now almost double compared to the last months of 2023. By reaching out to less active members, I’ve brought back votes and solved issues through suggestions and feedback from the community.

Future Plans

I’m working on integrating our auctions with the new VRGDA model on Farcaster Frames, allowing users to access auctions directly on Farcaster. This approach is more practical and decentralized compared to our default frontend. Farcaster’s potential is evident, with hundreds of thousands of frame-based transactions and 50k unique wallets involved in recent months.

Deliverables

My next steps include:

• A full operational version of DC-based notifications for Lil Nouns events (governance, calls, etc.) tailored to user preferences.
• A VRGDA auction frame for accessing auctions through Farcaster.
• An open-source configurable base automation framework for each of our several Lil Nouns channels on Farcaster, customizable based on each channel’s needs.
• Development of token-gated features based on Farcaster infrastructure (currently under development by Farcaster) to enhance user access and engagement.

Expected Outcomes

• Increased engagement and activity within the Lil Nouns community on Farcaster.
• Boosted voter turnout, with sustained improvements in participation rates.
• Enhanced tool adoption and usage among community members, leading to more efficient interactions.
• Expanded reach, with growth in the number of active Lil Nouners and re-engagement of inactive members.
• Ongoing development and maturation of open-source tools, fostering innovation and collaboration.

Impact Metrics

To measure the success and impact of the initiative within four months, the following metrics will be tracked:

• User Engagement: Growth in active users and interaction frequency.
• Voter Turnout: Improvement in monthly participation rates.
• Tool Adoption: Usage rates and positive feedback for new tools.
• Community Growth: Increase in verified Lil Nouners and retention of members.
• Innovation Contributions: Release and adoption of new open-source projects and community collaboration.

Sky-High Potential

The potential for growing the Lil Nouns user base on Farcaster is enormous. Farcaster continuously introduces new initiatives and tools (Frames, Actions, Composable Actions, Programmable DCs, Frame Transactions, etc.), and I plan to leverage these to drive engagement with Lil Nouns.

Supporting Innovation

Given the evolving nature of these tools, this initiative will also support and develop new ideas to enhance other projects during the proposal period, broadening Lil Nouns’ reach.

Conclusion

I appreciate the opportunity to continue working with Lil Nouns and am excited to present more tools in the upcoming months. This funding will enable me to sustain and expand our efforts through the end of 2024.