Nouns DAO

Nouns party is an effort aimed at making community-driven nouns bidding easier, more interactive, and more likely to win than today’s strategies.

Links

Proposal Document

Scope

The new nouns.party will include a completely updated design and several innovations which should dramatically simplify group bidding while increasing the odds of success. This will transition nouns.party from a simple fork to a pool-driven bidding application for nouns. This will require new contracts, a new application, and a new design.

The following functionality will be included labeled by versions. V0 will be guaranteed to launch for the completion of this proposal. V1 items will be built as time permits within the 4-week scope.

• [V0] Party contributions will be deposited in a “vault” style contract which carries forward from one noun auction to the next. These contributions will be withdraw-able at any time outside of an active winning bid. If they are not withdrawn, they will automatically accumulate for the next noun auction.
• [V0] Nouns won through these contributions will be automatically fractionalized for the winners. Contributors can then claim the shares of their winning noun. If multiple nouns are won, they can claim all shares at once.
• [V0] Real-time whale bidding viewer, to help inform the party. The UI will display any pending bids.
  • [V1] We will also show the estimated remaining Ethereum for the top bidder.
• [V0] Manual group bid submission when sufficient Ethereum is gathered.
  • [V1] Auto-bidder mechanism to avoid bidding confusion and democratize gas fees
• [V0] Currently nouns purchased through party bid must pay an upfront 5% Eth fee for each party noun. This fee is used for the ongoing maintenance and development of partybid. We propose the same fee, but instead of a “pre-auction” fee, we will introduce a post-auction fractionalization 5% token supply fee awarded to the nouns party multi-sig. This fee will apply to any nouns won through nouns party.
• [V0] Social Cursors with a noun-y style
  • [V1] If cursors become a UI burden, we will explore avenues to remove that burden
  • [V1] We will explore a social platformer-type game

Contributors & Compensation

We ask that the nounsdao fund the design & development of this project. Additionally, we plan to introduce a 5% per “party noun” win post-fractionalization fee (matching the existing fees of the party bid mechanic). This fee will be allocated to the nouns.party multi-sig.

Design and Development funding - Ξ96

Role: Project lead & Software Engineer (Node+Go+Front-end, Solidity contract review) Compensation: Ξ48 (Ξ32 + Ξ16 escrow for contributor compensation) Handle: @devloper_eth (aka noun#13) Wallet: 0x912A526852527dfB5D44c22a15B708AA493cDa6B

Role: Sr. Software Engineer (Solidity) Compensation: Ξ32 Handle: hans_klaus#0998 on discord (aka noun#13 colleague) Wallet: 0xA340828B995016437351890D6b98AeC698E2ef74

Role: Front-end Engineer Compensation: Ξ8 (50% at proposal vote), Ξ8 (50% dispatched from escrow upon completion) Handle: @0xFloyd Wallet: 0xbFc80468Df050D2a73fE455d6b3e484caF00E12f

Role: UX/UI designer Compensation: Ξ8 (50% at proposal vote), Ξ8 (50% dispatched from escrow upon completion) Handle: @bstsrvdbld Wallet: 0x73F843d1668E36a2952F2e505879Fac9ABbf3dB4

Future Direction

While we believe that nouns party is the highest impact work we can do today, we also believe there are many other exciting nouns’ related behaviors that can be improved. Those include predicting the next noun, announcing pending bids, and clarifying fractional governance. We also believe there are social aspects, such a “register an e-mail to be notified”, which can open up additional nouns opportunities in the future.

We are excited to explore more opportunities in this direction.