We’re excited to design a better way for the DAO to give Nouns to builders/partners, thanks to @jacob’s idea.
This is a tough feature to design, as it rubs against the original Nouns auction and inflation meme (one a day).
Our goals with this post is:
- Present the DAO with the leading designs on the table
- Solicit additional design suggestions
- Get a discussion going among voters
Assuming consensus will still be unclear as it is now, we will likely put this up to a Snapshot signaling vote. We would use choice-rank voting, asking Nouners to rank all design options + the option to not build this feature at all.
And now, to the design options.
Design 1: mint on demand
Thank you @jacob for sparking this design.
- A proposal would call a function on AuctionHouse which would give the recipient the right to mint a Noun, e.g.
- The recipient can then call a mint function on AuctionHouse at any time (up to a certain expiration date).
- This allows recipient to FOMO a Noun with a head they desire.
- It’s possible to give a recipient multiple mints in a single function call.
- The mint takes place in parallel to auctions, such that if on the day of the mint Noun 701 is auctioned out, the mint creates Noun 702, and the next auction would be for Noun 703.
- Auctions always open to the public.
- It’s possible to mint faster than one per day.
- Highest chance of builder getting their desired head (other designs rely on 3rd party actions).
Design 2: reserved nouns
Thank you @9999 for coming up with this design.
- A proposal reserves the next minted Noun for a recipient instead of the auction house.
- The proposal can reserve a Noun with a specific head for a recipient instead of the auction house.
- During NoC, if there is a reservation for a Noun with any head, when FOMO players mint a Noun, it is reserved for the recipient
- During NoC, if there is a reservation for a Noun with a specific head and FOMO players mint a Noun with that head, the Noun is reserved for the recipient.
- If a head is specified, but FOMO does not mint a Noun with that head, the reservation rolls over to the next mint.
- When a Noun is reserved, it is held for 24 hours.
- After 24 hours FOMO players can mint the next Noun, at which time the reservation is settled, and the next Noun is sent to the auction house.
- The DAO has minted only one Noun per day, preserving the spirit and continuation of the meme AKA our core message and differentiator
- Is fully backwards compatible with current protocol, infrastructure, and any downstream applications. Minor changes to messaging on nouns.wtf can be added for clarity.
- The current Noun on auction is always the one with the greater ID
- Preserves wider community expectations: the DAO can specify how a Noun is distributed (either auctioned off or sent to a recipient), but makes no changes to randomness and fairness. No single person can wait until the perfect blockhash to mint a Noun.
Both designs can support minting/reserving a Noun based on a builder’s hitting a certain milestone.
Thanks for your attention
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