作者: Luca Prosperi

来源: Dirt Road

NounsThe project is a simple beauty.而且,As pioneering experiments often happens,It has gone far beyond the scope of.从2021年8月8日开始,Nouns协议每24Hours to generate and auction aNoun,从Noun 1开始——Noun 0Is for founders,或称之为Nounders.It should be doing this forever.今天,NounsAgreement auction397号Noun.


简而言之,NounsIs the generation of simple art,Based on non homogeneityERC-721Tokens to represent the style, in the form of32x32像素的人物、Location and pictures of things.比如下图的Noun 1.

Noun 1


Nouns由包含5A predefined characteristics combination:背景- 2个特征,身体- 30,首饰- 137,头部- 234,眼镜- 21.Assume that not add more characteristics or qualities(I believe they will also add),总共有1923,480Kind of available composition,或约5,270In the runway,The probability of all are equal.Generation algorithm by usingNoun Seed开始,And the seed is based on the settlement of the auction before the block.This is a small difference,但很重要.拍卖完成后,The community must trigger settlement,Although obviously winners are motivated to do so,But in theory, anyone could trigger a settlement.This provides the community under the influence of aNounWhat characteristics of power,我们将在后面深入探讨.你可以在Nouns PlaygroundExperiments on generating mechanism.


每一个Noun,In addition to every one over ten for freeNounder以外,Were auctioned to the highest bidder.简单地说,At the end to the highest bidder will be without permission of theNoun,并将100%的ETHSettlement price deposited in the Treasury.根据Dune的数据,每个NounThe average bid price for67.12 ETH,按当前价格计算为11万美元.这意味着总共有26,513 ETH(或4,340万美元)Be transferred to Treasury.作为ERC-721代币,这些Noun可以在二级市场上出售.在Opensea,Generated about400个Noun中有81A change hands,平均价格为82 ETH,平均利润为15 ETH.

Nouns DAO治理

Nouns DAOTask is through a simple and powerful management infrastructure to manageNounsTreasury current balance:

  • A task and eventually guardian:The financial resources applied to strengthen and expandNouns的足迹,NoundersReserve the veto,Against irregularities proposal has passed

  • 一Noun一票:每个NounGive the owner a ticket governance right

  •  简单多数:For each proposal,支持的NounThe largest number of vote——Depending on the quorum

  •  Double a quorum:Submit proposals to governance must achieve a minimum threshold(目前为1个Noun),Performed by proposal must meet another threshold(目前为5%的优秀Noun)

到目前为止,The community has been submitted125Proposal toDAO进行投票,Shows the operation improvement、The governance of parameterized、Dilated project funding and available financial resource allocation, etc. 

当然,For a through financing strategy in a small but strong community issue started with unique art and hedge funds,NounsProject is a stunning success story.But we know that great things originally is not about money,永远不是.The reason we care aboutNouns,是因为NounsAre doing to develop and test:Dilute the rigid open source governance.Let us to unlock the meaning.

The management of dilution

A highly centralized and there is no doubt the existence of the power center will corruption.现在很明显,Most encryption project starts from the governance scrip issue,这是不切实际的,May not make significant restructuring,This makes it impossible to explore common maximum,And stimulates the insiders and outsiders into bad behavior.Dilution governance can alleviate the phenomenon.

It is not hard to see aNounOne ticket system is how to be diluted.Buy the first auctionNoun(第一个NounWithout being put up for sale,But directly to theNounders)将获得50%的投票权.购买第11个是8.3%,第101个是1.0%.换句话说,In order to control the most vote,我们需要在第11An auction with7个Noun(在第0个和第10个Noun给了Nounders后),The current cost is77万美元,或在第101个Noun上市时拥有52个Noun,成本570万美元.越往后,A majority vote is greatly increased the cost of.

Look at the problem in another method is to calculate the challengeNoundersThe difficulty of the voting rights/成本——Ignore their veto power.当第11个NounWhen being put up for sale,我们需要拥有3个Noun,约合33万美元;当第101When a listed,我们需要拥有12个Noun,约合140万美元.Is still a reasonable amount of.

控制(And the conspiracy)The cost of exponentially over time.对我来说,这是一件很棒的事情.当然,Founding team for effective implementation of the proposed retain veto is not perfect,But it is much better than other existing scheme.The difficulty of increasing success implementation proposals are also applicable to the ability of.Although each has at least oneNoun(今天)Wallet can create a proposal,But any successful voting proposal needs to be5%The quorum can be performed.This avoids the use of the voters' indifference to the importance of a landslide.The quorum's approval and effective vote,提案将在48小时内执行.

Considering the new issueNFTThe dilution effect of,我们预计NounThe auction price will gradually reduce in time.然而,事实并非如此.Settlement price in100ETH左右徘徊了一段时间,实际上在过去200Days has been in a positive trend.现在看来,NounGrowth in a positive force for more than the power of the dilution.Considering the marginal cost of diluted in mathematics with the passage of time and fall,Valuations may at some point will reach equilibrium and stable return on——The stability of the rate of return will be much difficult to judge,但我的猜测是,It will in some way associated with the etheric fang pledge income(And slightly better than).当然,Is inside the coffers will not destroy the value of the event under the condition of.

The rigid governance

简单、Measurable and stability goal simplified a great deal of management.Nouns DAOThe use of its coffers maintained a very clear mandate.下面的数据来自Nouns DAO的网站.

The rigid governance produce a series of astonishing homogeneity results.在提交的125The proposals,绝大多数(96份)被执行,只有1Proposals were rejected——作为测试,The total amount of funds allocated to13.2万ETH.Most proposals have obvious lopsided vote,This may indicate that the following:

  • Around a simple task very cohesive community

  • Powerful soft(论坛)和硬(仲裁)过滤机制,Avoid no prospect of proposal

  • Is still a little not mature community——有大约200名Nouner+Nounder

  • Due to increases in the coffers,Positive consumption tendency——At the time of rich it is easy to active

What is happening is probably a combination of all of the above factors,And the dilution and vote Angle may promote the development of the technology.If it is difficult to controlNouns DAOThe relative majority,It is almost impossible to keep anonymity:NounsNot as easy as homogeneous tokens reshuffle,它们不像CEXAs often used for hypothecation contract or mixed,And along with the development of the time will be associated with the owner's identity.These features to a great extent, increased the deviation of the(个人)成本.随着Nouner数量的增加,以及(潜在的)Governance mission to expand,How will these dynamic evolution,这将是一件有趣的事情.就我个人而言,I hope the rigid governance can keep down,And hope it can the development of organic happen,Stay away from the motherDAO. 


Nouns项目选择了CC0Under the copyright protection of,换句话说,Choose not subject to any copyright and database protection.每个人都可以在Nouns DAODo continue to develop on the basis of,因为他们相信,平均而言,These contributions will increaseNouns和DAOThe value of the Treasury.正如我们之前说过的,DAOReady money to promote this,And most willing toNounsPlatform to build the team starting from the request budget contribution no wonder.

换句话说,Nouns DAOGovernance is morphing into a(社区控制的)Optimistic authorization process,即DAOPreassigned lot ofETH,Hope it was worth the money will be,并且对Nouns来说,Earnings will increase.

FOMO NounsIs one of the most interesting application of this concept is also the earliest.我们之前已经讨论过,每个NounHow the generation process of settlement based on the previous block trigger,So that the community to the nextNounThe characteristics of some influence.As a specific to block the process of,Need incredible coordination(Combined with speed and luck)来预测一个NounAt the beginning of the block、The appearance of the vote and trigger.In order to make the process of systematic,FOMO NounsCreation is the proposal#8中提出的.Participants can vote or,To determine a predicted castingNoun.如果(喜欢/Don't like to adjust)To vote more than a certain threshold,Contract will attempt to trigger the settlement.最初要求50 ETHFor project development,Including the budget for the contract giving,In order to obtain blocks into.Although this project does not have direct positive impact on the money,But supporters believe the deployment will help to create a more attractiveNouns,Increase the bid value,Participate in and promote further.

There is no limit to the y.Lil Nouns从Nouns中衍生出来,As the most classic hard y,The output and theNouns强相关,But in operation and(部分)经济上独立.A quick look at the website,就可以看到LilTeam how to choose to minimize the difference between two projects.

The project is to establish an independent Treasury,由ETH和Nouns组成,是Nouns DAOVote by the governanceNouns’ Small Grant计划的一部分.It is also the carrier of the arena.Nouns CenterLists theNouns启发的项目.这也是由Nouns资助的项目.

我们(目前)Is not a framework to measureDAOThe influence of the coffers provide funding to the project value.Should develop some form ofNouns回归.But we can be the best agency to watch,即下一个Noun的价格,So far this strategy is effective.The power of the constructive force is more than diluted sex.然而,This situation will last as long as it's hard to say.在某一时刻,The balance of power will change,That's governance will be tested.The open source nature of this project will make this problem to handle more complicated.

Before we had found some participants in(简化)In the organization characteristic of the deviation and worse:

(i) The requisition ability or the size of the private interests,(ii) The share or the size of the community,(iii) The uncertainty of encountered bad proposal or perceived risk,(iv) Because of the bad actors and the urgency of the suffering or likelihood (v) 风险厌恶.与前代相比,Nouns DAOIn many ways to improve the governance:Small community and cohesive——Less sharing and uncertainty,With the votes/NounCompared to the value of,Funding is relatively small——Less requisition ability,Control over time and dilution——Even fewer requisition ability,And the growth of clear mind——Less risk averse.

社区的发展,以及受NounsInspired the broader ecosystem,The balance of power will eventually threaten,And reduce the margin of safety.DAONeed to implement governance changes before it is too late.