Nouns DAO

Hey all,

This is us again, Team CC0-LIB.

Issues

• we are using split contract as the recipient for the stream in Prop 476 (compensation funds)
• we found out that a split contract are not able to interact with the stream contract
• thus, we are not able to actively withdraw our compensation funds
• the funds are locked in the stream contract as vested token

Action

We are splitting the actions into two parts ;

Part 1

• cancel the stream
• recover all the non-vested token to the DAO’s treasury

Part 2

• withdraw the remaining vested token
• set a new stream of funding (42 WETH - total vested tokens)

Learnings

• proposer cannot use a split contract as the funds recipient under a ‘Stream Funds’ action
• once the stream started, the fund will be vested and canceling the stream will only allow Payer (DAO) to recover the non-vested token
• remaining vested token will always be available for withdrawal by the recipient. in our case, we have no way to interact / withdraw from the stream contract due to limitations of the split contract

Suggestions

• frontend / nouns clients should display remarks on a ‘Stream Funds’ action stating “EOA / multisig only”
• transaction simulation before voting period starts to prevent any issues

Why do we require two proposals

• we are not able to withdraw the remaining vested token due to the funds are being vested on every block. thus, we are not able to put any exact numbers
• to avoid any confusion for the DAO members

Our follow up proposal

Another proposal 'New Stream of Prop 476 (Part 2)’ will follow through once ‘Cancel Stream of Prop 476 (Part 1)’ has been executed