Create new workstream: Nouns Acquisition Committee

NounsDAO NounsDAO Proposals
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Nouns Acquisition Committee Proposal

Create new workstream: Nouns Acquisition Committee

The DAO has socially signaled a desire to acquire Nouns, either in the treasury or on-demand, for a variety of potential use cases including:

  • experiment with fractional ownership/governance protocols
  • provide collateral to one or more NFT lending facilities
  • add option to transfer Nouns as part of proposal transactions

We propose the creation of the Nouns Acquisition Committee workstream: a group comprised of Nouners who facilitate the purchase and distribution of Nouns on behalf of the DAO. This approach allows the DAO to acquire Nouns in stages as needed and avoid many of the negative externalities expressed by Nouners.

Other approaches and issues

  1. Buy from secondary
    1. net loss of ETH to the treasury
    2. easily gamed by secondary market participants
  2. Mint directly to the treasury
    1. navigate technical and execution risks of swapping out the NounsAuctionHouse implementation
    2. potential brand damage around increasing the Noun supply by more than 1 per day

Workstream mandates

  • attempt to acquire up to 3 Nouns from the daily public auction
    • for any given auction do not exceed 20% of average settle price of the last three (3) auctions
  • hold the (3) Nouns in the workstream multisig and delegate votes to the Nouncil
  • as uses materialize, allocate Nouns from the multisig for these purposes at the discretion of the committee
  • once all Nouns are allocated request funding for acquiring more Nouns

Workstream members

  • Gnosis Safe: 0x9298B97dE93784635900163e582A5D9e570f35a5
  • vapeape: 0x88f9E324801320A3fC22C8d045A98Ad32a490d8E
  • noun22: 0x75Ee6eb3d8DAcf41eE2e5307090B197D3E1Cca6E
  • rumi: 0x1977C4B06a76c160EfF920c67FbC0635124364c8

Transaction

  1. transfer 175 ETH to 0x9298B97dE93784635900163e582A5D9e570f35a5

If you disagree with the formation of the workstream and do not support the DAO acquiring Nouns please comment below.

1 Like
2

I support this

I also think we should seed the NAC with enough ETH for N+1 nouns where N is the current target acquisition number (3 in this case)

I think at any given time the NAC should have enough in their wallet to comfortably bid on/win a noun for the DAO

1 Like
3

I really love the exploration of all three use cases and fully support this proposal. Really appreciate the interim delegation to Nouncil too!

1 Like
4

Can’t wait to see the acquired nouns put to good use.
Are there any plans for additional funding? (When, why, how many nouns are the goal?)