FOODNOUNS DAO Proposal

foodnouns-logo-02

One FOODNOUN, every breakfast, lunch and dinner, forever!

As you might recall from Prop House Round 1 Proposals, FOODNOUNS started as a cookbook based on the idea that food items are Nouns! As we continued to grow this nounish idea by adding NFTs and IRL elements during Proposal Round 2 and Proposal Round 3, we began to realize that our true passion comes from being able to fund proposals that are culinary driven and focused. The best way we can begin to build the FOODNOUNS community and to fund such proposals and builders is through a fork of the NounsDAO, the ultimate iteration.

FOODNOUNS DAO would like to make an official Proposal to the NounsDAO to launch a tasty fork within the Nouns ecosystem. This Proposal Request amount is for 16.55 ETH that will cover the website launch, contract deployments costs and the first Q1 of project management. We believe that the early support of the NounsDAO will be crucial to our launch and sustained success. Please find the full FOODNOUNS DAO Proposal here on our Notion site.

FOODNOUNS DAO wishes to build a Treasury that will further proliferate the NounsDAO and greater Nouns ecosystem while funding initiatives relevant to the food industry in four major categories: Food Production & Innovation, Education & Entertainment, Food & Beverage Industry Wellness and FUN! We encourage you to dive into the resources section of the site to learn more about FOODNOUNS, how our governance structure is set up and the different types of proposals we hope to fund, which include culinary and food driven initiatives such as community gardens, food rescue solutions and entertaining educational content assets.

FOODNOUNS is proud to offer this extension and entry point into the nounish community for food lovers around the world. Thank you for your consideration and we look forward to discussing this Proposal Request. Our team is open to feedback and will be available to speak further about FOODNOUNS in person to any Nounders, Nouners or other Nounish community members who are in New York at NFT.NYC. DM us on the FOODNOUNS Twitter to schedule a time to meet!

Please note, our Notion and Discourse links are active. All “foodnouns.wtf” links are currently parked and under construction The domains foodnouns.io, foodnouns.wtf and foodnouns.com have all been purchased.

fried-shrimp

Cheers! ⌐◨-◨
FOODNOUNDERS & The Kitchen Nouncil

I love the idea, especially the funding ideas that your DAO plans to focus towards. Do you have a sponsor to get this on chain? I would love to see it move forward and get you on Nouncil if you’re not there already.

2 Likes

this looks pretty cool. in the past we have done grants to help extension projects launch, but there were more in the range over 2 ETH~

i notice that in your distro model, 30% of auction proceeds go directly to the team, and 15% go to a buy a noun wallet and 55% go to a treasury. in my opinion, i think the first goal of any extension project should be to buy a noun with the ETH they accrue from the auctions. you are of course free to do whatever you want, but you are saying:

We believe that the early support of the NounsDAO will be crucial to our launch and sustained success.

and i totally agree… but it is not in Nouns DAO’s interest to favor one extension over another, or explicitly endorse an extension. however, i think members of the DAO may be more inclined to support an extension project that finds creative ways as to how it could support Nouns DAO, and not the other way around

that said, Small Grants would likely fund this to get off the ground at a smaller scale, and i’m happy to chat with you to explore different ways to better align things between the projects. hit me up on discord!

3 Likes

Great insights. I wasn’t familiar with the history on extension projects. It’s nice to know that info.

2 Likes

Hi Noun 22, all the Nouns and everyone reading. Thank you again for the platform and the intellectual conversations, suggestions and considerations. We will reach out to discuss further in whichever preferred channel.

The concept of FOODNOUNS as a “niche” sub-DAO extension is very exciting to our team, project supporters and other active listeners. Without over simplyfing for fear of stifling innovation within our niche, we do feel that the global food industry is ripe for change and prime for innovation. Leading edge growth will come in many forms from thought leaders all around the world, some funded and some in need of bootstrapping options. FOODNOUNS DAO, structured and formed around the NounsDAO code stack and culture, can affect change immediately, dynamically and indefintely, each equally important.

The distribution model design has been an on-going conversion. At some point a decision had to be made and committed, knowing full well that by default that would need to be a very open and feedback driven conversation for all members participation. We are looking forward to the next round of conversations in this area of the sub-DAO extension formation architecture. A few of the main goals are FOODNOUNS DAO sustainability, NounsDAO partnership input output models, and builder participation support. We wholeheartedly know the importance of the NounsDAO governance objective functionality. It is equally important for FOODNOUNS DAO to get this part right as well, as we look forward to acting as an example for future forks and extensions.

We will actively be available here, in the FOODNOUNS Discord, ​and Twitter to deepen these conversations. We are proud, motivated and inspired by the incredible opportunities, innovations and partnerships. GN from NYC.

1 Like

A Kitchen Nouncil member discovered a notion page that had not been made live. Please refresh the Proposal Cost Breakdown Page.

Hi Andrew. We too love the idea of supporting production initiatives as well as educational entertainment. Food content has been a major element in the digital landscape over the last few decades. We see this Web2 trend continuing and growing, incorporating new web3 platforms and delivery channels.

We are highly inspired to facilitate innovation in production, supply chain, product development and other channels of future food, including wellness. We feel this is very nounish. There is an opportunity for the NounsDAO and FOODNOUNS to create social impact through our food systems and love for community. Thank you again for your inspiration Andrew.

Thank you to all readers for your on-going interest in FOODNOUNS DAO. As we continue to drill down towards a final DAO structure, we look forward to offering this secondary proposal for revenue distribution and deployment costs.

We will also be revising the funding ask, removing the Q1 management costs. We understand that this line item, while necessary for successful DAO management, sets a precedent that is not correct. As a result, we will be submitting solely for contract deployment and deployment development cost, with any additional unused funds being sent back to the NounsDAO treasury. Our understanding is that contract deployment can cost up to 5 ETH. Additional funding for Discourse and Discord; as well as funding for internal NounsDAO developer deployment assistance is added. This brings the funding ask to:

6.55 ETH

Upon further discussions with interested parties and early Noun holders, FOODNOUNS has determined that a new revenue distribution model may provide clarity and a more immediate impact for all parties, including the NounsDAO.

The new distribution breakdown is proposed as followed:

  • 50% - FOODNOUNS Treasury (*First Order Of Business)
  • 25% - NounsDAO
  • 12.5% - Kitchen Nouncil
  • 12.5% - FOODNOUNDERS

Here are the thoughts behind each:

  • FOODNOUNS Treasury
    • *The First Order of Business, as determined by the FOODNOUNDERS and initial members of the Kitchen Nouncil, shall be to purchase a NounsDAO Noun.
    • DAO management costs will be proposed and voted on as necessary, representing the only spend allowed until the First Order of Business is complete.
    • This action will allow all members of the FOODNOUNS DAO an opportunity to vote on and create on-chain NounsDAO proposals. Internal voting mechanisms will be created to determine what is voted and proposed from the FOODNOUNS DAO.
    • Upon 1 NounsDAO Noun being purchased, the full weight of the FOODNOUNS Treasury will be focused on FOODNOUNS DAO holders’ internal proposals.
    • This action deepens the sub-DAO relationship and will provide 80+ Eth to the NounsDAO treasury.
  • NounsDAO Treasury
    • 25% of all auction proceeds will go directly and automatically to the NounsDAO treasury, forever.
    • This action will create symbiosis between FOODNOUNS and NounsDAO, as well as holders of both projects.
    • FOODNOUNS Direct Eth payments to the NounsDAO will be a precedent for sub-DAOs, especially when deployment funding is requested. FOODNOUNS is proud to offer this substantial, perpetual and trustless funding to the NounsDAO.
    • This equity transfer will also give confidence to Noun holders that future on-chain proposals and funding for larger FOODNOUNS initiatives (…aka a FOODNOUNS restaurant) have been earned through contributions past, present and future. This includes the *First Order of Business mandate listed previously.
  • Kitchen Nouncil
    • 12.5% of auction proceeds will be evenly distributed amongst members as a way to compensate for time spent running the Kitchen Nouncil.
    • Kitchen Nouncil members are free to spend their portion of proceeds as they see fit on personal projects.
  • FOODNOUNDERS
    • 12.5% of auction proceeds are evenly distributed amongst FOODNOUNDERS as a way to compensate for time spent working on the FOODNOUNS DAO.

Additionally, FOODNOUNS is actively developing plans to purchase depressed land and lots, specifically to be converted into FOODNOUN Community Gardens. As the FOODNOUNS DAO grows there is an opportunity for the FOODNOUNS DAO to acquire multiple properties all across the world. These properties will increase in value as management is applied and assets created.

  • If legally possible, FOODNOUNS would like to offer 10% ownership of all FOODNOUNS held properties to the NounsDAO.
  • This action will strengthen the NounsDAO portfolio with hard assets.
  • A real estate expert may be added to the Kitchen Nouncil.

This by no means binds the success of the FOODNOUNS DAO to the individual actions of one member or group.

1 Like

Thanks! It was great to speak with you last week, and I think this is shaping up in a very cool and interesting way.

This is the first fork project that would include direct ETH payments to the Nouns DAO treasury… very excited to see this experiment play out. Will confer with SG and confirm if this is something we are interested in funding.

1 Like

It has been a joy working on this phase of the proposal. We are proud to contribute to the NounsDAO and see true value in the proposed model. The team is ready. We look forward to the next steps. Thank you.

1 Like