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Nouns Airdrop Design Vote

Intro

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). So we're bringing the decision to all Nouners to help us get at "what the DAO wants".

This is a choice-rank vote

Please be sure to click on all options, in order of your preference.
We're using choice rank in order to maximize preference information this vote captures.

While some might want multiple designs implemented, at this point we'd like to discover the most desired design, and build that one. Additional designs can be added later.

And now, a reminder of the suggested designs.

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. allowMint(recipient, amountOfMints)
  • The recipient can then call a mint function on AuctionHouse at any time (up to a certain expiration date).
    • This allows recipient to "crystal ball" a Noun with a head they desire (execute the mint when the seed produces what they want).
    • 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.
    • Nounder rewards are accelerated as well, e.g. at Noun 709 a mint would produce 710 and 711, with 711 going to the recipient.

Advantages

  • 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).

Disadvantages

  • Highest Noun Id isn't on auction.
    • Requires updates to nouns.wtf to "rewind" the main page the previous Noun if an airdrop occurs.
    • Potentially breaks other downstream apps that rely on the current Noun Id being on auction
  • Disconnects Noun minting from the core Nouns process and brand that has been established.
  • A Noun can be 'genetically' engineered such that the recipient of an airdrop gets a higher value, more cohesive or aesthetic Noun.
    • For example: If the mint window is open for a day, there are 7,200 Nouns that can potentially be minted.
    • This can be reduced by changing the mint time window, but requires additional considerations each with their own pros and cons.

Design 2: Reservations

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.

Advantages

  • The DAO has minted only one Noun per day
    • preserves 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 about fair randonmnes
    • 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.
  • Allows 24 hours to acknowledge the process of rewarding someone with a Noun aka great publicity for what makes Nouns great
    • Showcases on-chain proposals, Noun minting, and trustless sending

Disadvantages

  • Prevents bidding for 24 hours.
  • Can take a longer time for a recipient to get a Noun with their specified head
    • A 3rd party troll can purposefully settle auctions on blocks that do not produce a desired head.
    • Can be mitigated by recipients specifying multiple head preferences.

Design 3: Noun Buyer

Thank you solimander for sharing this design.

The Noun Buyer is a solution based off of the token buyer, which is the contract that the DAO uses to pay proposers in USDC.

Design

When the DAO wants to distribute a Noun, a proposal is created that tells the Noun Buyer to register a debt entry with a receiving account and an optional Noun trait specification (chicken head for Stoopid buddy, basketball head for Victor Solomon, etc).

The Noun Buyer contract gets funded with ETH by the DAO, and allows anyone to supply a Noun that satisfies the desired trait(s) in return for ETH within some percentage of the on-chain oracle price.

In this case, the oracle is Noracle, an on-chain historical Noun settlement price oracle.

Examples

  1. If a Noun with a specified trait is minted, anyone can bid on the Noun in the primary auction and, if they win, sell it to the Noun Buyer.
  2. If a Noun owner has a Noun with the desired trait, they can sell it to Noun Buyer and collect payment.

Once the desired Noun is bought, the Noun Buyer can then send the Noun to the intended recipient.

Advantages

  • Keeps one-a-day meme intact.
  • Does not skip daily auctions.
  • Separation from the core protocol
    • silos risk (easier to remove/turn off)
    • does not require any additonal integrations on nouns.wtf or downstream apps
  • Allows Nouns to be sourced from outside the primary auction (any marketplace, private collector, etc).
  • Uses market forces to:
    • Incentivize minting of a specific noun trait if not available on secondary.
    • Incentivize timely distribution through arbitrage.

Disadvantages

  • Can take a longer time for a recipient to get a Noun with their specified head
    • A 3rd party troll can purposefully settle auctions on blocks that do not produce a desired head.
    • Can be mitigated by recipients specifying multiple head preferences.
  • DAO needs to pay a premium on the Noun it purchases to incentive sellers.
  • Incentive bonus is a parameter that would need to be managed (probably by a multisig for reasonable reaction time).

Choice rank vote spec

  • Design 1: Mint on Demand.
  • Design 2: Reservations.
  • Design 3: Noun Buyer.
  • Don't build airdrops at all.
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