TL;DR : Proactive funding by Nouns Community, retroactive funding by NounsDAO
The goal here is to :
Increase the velocity of innovation
Judicious use of DAO Treasury
How it’d work :
Nouns DAO calls for Proposals
10ETH per proposal
1 month duration for delivering
Noun community can fund these proposals - using their own money
This can be done via tokenizing the proposal into ERC20 tokens
The price per token increases exponentially on a bonding curve
Meaning - if you fund a proposal early, you get more stake in the project
After 1 month, the NounsDAO votes on which are the projects that delivered 20ETH worth of impact to Nouns Project.
Disburses 20 ETH to the projects that delivered results
If the project had been funded for 10ETH, the 20ETH goes to the those who funded the project before the fact, proportional to their stake.
If the project was not funded, 20ETH goes directly to the builder.
This incentivizes the Nouns Community to find the right projects to fund. The DAO funds only projects once results have been delivered.
If this experiment works, we could have collaborations with other DAOs so that we proactively fund their projects and they retroactively (with a premium) fund our treasury back.
Happy to hear the community’s thoughts and flesh out more details or even hack together an MVP if there’s interest
very interesting way to source the wisdom of the community on what to fund!
the main concern I have from my first read: it would be ideal to have more time for shipped stuff to prove their value; some might surprise for the better, while some prove less impactful that the initial impression.
Very interesting indeed! This created a whole lot of thoughts.
Would there be demand for it? If I was a Nouner, I might think ‘well, we have 27000 ETH in the treasury and I paid in already. I don’t really want to use more of my ETH to support projects when we have 40 million in the bank ready to go.’ Then again, maybe it’s an opportunity for those who got into Nouns to get into all these other projects at ground level.
I wonder how this could be integrated into prop house. I had an idea a while back for a prop house round that would be solely to nominate and select the most impactful prop house props over the previous quarter and then do a retro reward for work completed or another round of funding to expand the work in some meaningful way.
How would the funds be allocated? How many winners for each round? I don’t see how there could be sufficient long term incentive to continue something like this unless DAO money goes into the project above and beyond the investment of each individual.
This is really fun to think about, but there are a lot of variables that would need to be worked out to make it effective and feasible. Thank you for proposing such a unique idea!
