Nouns DAO

ABOUT

Nouns DAO utilizes a fork of Compound Governance and is the main governing body of the Nouns ecosystem. The Nouns DAO treasury receives 100% of ETH proceeds from daily noun auctions. Each noun is an irrevocable member of Nouns DAO and entitled to one vote in all governance matters. Noun votes are non-transferable (if you sell your noun the vote goes with it) but delegatable, which means you can assign your vote to someone else as long as you own your noun.
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SOLUTION

Nouns is a generative non-fungible token project on the Ethereum blockchain. Nouns are 32x32 pixel characters based on people, places, and things. One noun is generated every day. Here are some examples of nouns:

Noun Auctions

One noun is auctioned every 24 hours, forever. One interface for participating in noun auctions is [nouns.wtf](http://nouns.wtf), which is a website built and maintained by the project founders ('Nounders’):

In the auction above, Noun 8, which is the 9th Noun (Noun IDs start at 0) is for sale. The current bid is 88.88 ETH (Ether), and there are 2 hours, 21 minutes, and 50 seconds remaining in the auction. If this auction ends with no further bids, 88.88 ETH from xaix.eth ($286,824 USD as of this writing) will be automatically and trustlessly sent to the Nouns DAO Treasury and xaix.eth will win this Noun, which means that the ERC-721 token will be transferred to their address.
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VISION

we should be bold with the Nouns DAO [treasury](https://etherscan.io/address/0x0BC3807Ec262cB779b38D65b38158acC3bfedE10). We should fund and cultivate a community of builders by experimenting, taking risks, and ultimately funding every high quality proposal that could lead to interesting culture and software (especially ‘middleware’) on the Nouns protocol:

- Centralized and decentralized APIs (let’s turn Noun o’clock into an internet-wide event)
- Artwork that adds something new to the cultural conversation
- Integrations with other Ethereum primitives and dapps
- iOS and Android apps
- Hackathons and Documentation
- Things we’ve never seen before

I think we have a historic opportunity — to be bold, take risks, and ultimately attract the builders who can take the raw ingredients of the [Nouns](https://nouns.wtf/) protocol, and turn them into applications that are ready to be consumed by the world. If we can do this, the DAO will attract more capital and higher quality participants, and the virtuous cycle will be complete.
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