deploy-preview-812--nouns-testnet.netlify.app Open in urlscan Pro
2a05:d014:275:cb02::c8  Public Scan

Form analysis
0 forms found in the DOM

Text Content

You need to enable JavaScript to run this app.


Treasury
Ξ 5,264
Proposals
Candidates
Fork
DAO

Docs
Discourse
Playground
Nouns & Traits
Explore

Language

Connect
←→

NOVEMBER 06, 2023


NOUN 904

CURRENT BID


Ξ 10.00

AUCTION ENDS IN

13H
51M
46S

Help mint the next Noun
Ξ 10.20 or morePlace bid
 * 
   0xB1...5668
   Nov 06 at 09:21 pm
   Ξ 10.00
   
 * 
   mono.⌐◨-◨
   Nov 06 at 03:27 pm
   Ξ 4.20
   
 * 
   monkeydlinks.eth
   Nov 06 at 01:29 pm
   Ξ 0.10
   

View all bids


ONE NOUN, EVERY DAY, FOREVER.

Behold, an infinite work of art! Nouns is a community-owned brand that makes a
positive impact by funding ideas and fostering collaboration. From collectors
and technologists, to non-profits and brands, Nouns is for everyone.

This video was commissioned in Prop 113 and minted in Prop 190
This video was produced as part of Prop 143


BUILD WITH NOUNS. GET FUNDED.

There's a way for everyone to get involved with Nouns. From whimsical endeavors
like naming a frog, to ambitious projects like constructing a giant float for
the Rose Parade, or even crypto infrastructure like Prop House. Nouns funds
projects of all sizes and domains.


DOWNLOAD THE FREE IOS APP

Every new Noun pushed right to your pocket! View the current auction, remix your
own Noun, and explore the entire history directly from the app.





WTF?

Nouns are an experimental attempt to improve the formation of on-chain avatar
communities. While projects such as CryptoPunks have attempted to bootstrap
digital community and identity, Nouns attempt to bootstrap identity, community,
governance, and a treasury that can be used by the community.

Learn more below, or start creating Nouns off-chain using the Playground.


SUMMARY

 * Nouns artwork is in the public domain.
 * One Noun is trustlessly auctioned every 24 hours, forever.
 * 100% of Noun auction proceeds are trustlessly sent to the treasury.
 * Settlement of one auction kicks off the next.
 * All Nouns are members of Nouns DAO.
 * Nouns DAO uses a fork of Compound Governance.
 * One Noun is equal to one vote.
 * The treasury is controlled exclusively by Nouns via governance.
 * Artwork is generative and stored directly on-chain (not IPFS).
 * No explicit rules exist for attribute scarcity; all Nouns are equally rare.
 * Nounders receive rewards in the form of Nouns (10% of supply for first 5
   years).


DAILY AUCTIONS

The Nouns Auction Contract will act as a self-sufficient Noun generation and
distribution mechanism, auctioning one Noun every 24 hours, forever. 100% of
auction proceeds (ETH) are automatically deposited in the Nouns DAO treasury,
where they are governed by Noun owners.

Each time an auction is settled, the settlement transaction will also cause a
new Noun to be minted and a new 24 hour auction to begin.

While settlement is most heavily incentivized for the winning bidder, it can be
triggered by anyone, allowing the system to trustlessly auction Nouns as long as
Ethereum is operational and there are interested bidders.


NOUNS DAO

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.


GOVERNANCE ‘SLOW START’

The proposal veto right was initially envisioned as a temporary solution to the
problem of ‘51% attacks’ on the Nouns DAO treasury. While Nounders initially
believed that a healthy distribution of Nouns would be sufficient protection for
the DAO, a more complete understanding of the incentives and risks has led to
general consensus within the Nounders, the Nouns Foundation, and the wider
community that a more robust game-theoretic solution should be implemented
before the right is removed.

The Nouns community has undertaken a preliminary exploration of proposal veto
alternatives (‘rage quit’ etc.), but it is now clear that this is a difficult
problem that will require significantly more research, development and testing
before a satisfactory solution can be implemented.

Consequently, the Nouns Foundation anticipates being the steward of the veto
power until Nouns DAO is ready to implement an alternative, and therefore wishes
to clarify the conditions under which it would exercise this power.

The Nouns Foundation considers the veto an emergency power that should not be
exercised in the normal course of business. The Nouns Foundation will veto
proposals that introduce non-trivial legal or existential risks to the Nouns DAO
or the Nouns Foundation, including (but not necessarily limited to) proposals
that:

 * unequally withdraw the treasury for personal gain
 * bribe voters to facilitate withdraws of the treasury for personal gain
 * attempt to alter Noun auction cadence for the purpose of maintaining or
   acquiring a voting majority
 * make upgrades to critical smart contracts without undergoing an audit

There are unfortunately no algorithmic solutions for making these determinations
in advance (if there were, the veto would not be required), and proposals must
be considered on a case by case basis.


NOUN TRAITS

Nouns are generated randomly based Ethereum block hashes. There are no 'if'
statements or other rules governing Noun trait scarcity, which makes all Nouns
equally rare. As of this writing, Nouns are made up of:

 * backgrounds (2)
 * bodies (30)
 * accessories (140)
 * heads (242)
 * glasses (23)

You can experiment with off-chain Noun generation at the Playground.


ON-CHAIN ARTWORK

Nouns are stored directly on Ethereum and do not utilize pointers to other
networks such as IPFS. This is possible because Noun parts are compressed and
stored on-chain using a custom run-length encoding (RLE), which is a form of
lossless compression.

The compressed parts are efficiently converted into a single base64 encoded SVG
image on-chain. To accomplish this, each part is decoded into an intermediate
format before being converted into a series of SVG rects using batched, on-chain
string concatenation. Once the entire SVG has been generated, it is base64
encoded.


NOUN SEEDER CONTRACT

The Noun Seeder contract is used to determine Noun traits during the minting
process. The seeder contract can be replaced to allow for future trait
generation algorithm upgrades. Additionally, it can be locked by the Nouns DAO
to prevent any future updates. Currently, Noun traits are determined using
pseudo-random number generation:

keccak256(abi.encodePacked(blockhash(block.number - 1), nounId))



Trait generation is not truly random. Traits can be predicted when minting a
Noun on the pending block.


NOUNDER'S REWARD

'Nounders' are the group of ten builders that initiated Nouns. Here are the
Nounders:

 * @cryptoseneca
 * @gremplin
 * @punk4156
 * @eboyarts
 * @punk4464
 * @_solimander_
 * @dhof
 * @devcarrot
 * @TimpersHD
 * @lastpunk9999

Because 100% of Noun auction proceeds are sent to Nouns DAO, Nounders have
chosen to compensate themselves with Nouns. Every 10th Noun for the first 5
years of the project (Noun ids #0, #10, #20, #30 and so on) will be
automatically sent to the Nounder's multisig to be vested and shared among the
founding members of the project.

Nounder distributions don't interfere with the cadence of 24 hour auctions.
Nouns are sent directly to the Nounder's Multisig, and auctions continue on
schedule with the next available Noun ID.

TwitterEtherscanForums