are we sure the dao is captured?
3 nouners dumped 237 against. 1072 still haven't voted. if you're dormant, wake up.
it's insane that now, in the age of ai when the cost of building is going to zero, we sit on our hands.
now is the time to build.
every day, forever.
⌐◨-◨
# Fake World Assets
## ⚡️ TLDR
Quick summary:
- Send 24 treasury Nouns into [fwa.fun](https://fwa.fun), the onchain gacha machine
- Each backed with ~1.28 ETH so a winner nets exactly the same whether they keep the Noun or take the ETH
- No discounts, no giveaways. Anyone who keeps a Noun turned down its exact cash value to do so
- Every listing earns an equal share of every draw fee in the protocol, paid to the treasury
- In expectation, a listing earns back its own backing in fees before it is ever drawn (math below)
- Nouns and ETH move through a reusable manager contract whose every exit is hardcoded to the treasury
*Throughout this proposal, "the treasury" means the Nouns DAO treasury, the timelock at [nouns.eth](https://etherscan.io/address/0xb1a32FC9F9D8b2cf86C068Cae13108809547ef71). Full details below...*
---
## 🙋 Background
I'm gami, Nouner since the early days (Nouns 13 and 189) and founder of [Gnars](https://gnars.com), which got started with 69 ETH from [Prop 51](https://nouns.wtf/vote/51) in April 2022 and has been proliferating Nouns ever since. You've seen my proposals before. They tend to bring voters out of the woodwork. Bring them.
In July 2026 I forked FWA onto Robinhood Chain as [StockRip](https://stockrip.com): 74,000+ draws, 1,700+ ETH of volume, 900+ players ([live stats](https://stockrip.com/secretdash)). So I know this machine from both sides of the glass, because I run one. I've also fed FWA a Noun of my own: [Noun 1382](https://nouns.wtf/noun/1382), backed with my own ETH, priced too low, gone in three hours, lol. That mistake is where this proposal's pricing rule comes from.
## 🎰 Why
The treasury holds 613 Nouns and gains one every day. Since the reserve went to 2.8 ETH in April, 101 of the 102 auctions through mid-August ended with zero bids: 26 Nouns burned, 75 swept into the treasury, one single winner. The treasury's ~4,000 ETH is mostly staked and earning. Its 604 Nouns earn nothing.
FWA is doing ~310 draws and ~25 ETH in draw fees a day across 6,400+ active listings as of 2026-08-22, down from a ~2,900-draw peak as post-emissions volume settles (measured onchain, methodology at the bottom). Nouns is already whitelisted as collection #17. The machine is running either way. This proposal puts 24 of our idle Nouns inside it, earning, and in front of people.
## ⚖️ The true decision
Each Noun is listed with backing set to floor ÷ 0.9 (~1.28 ETH at time of writing, set precisely at listing time). FWA pays a winner 90% of backing if they hand the NFT back, so at this level the choice is perfectly balanced. Draw one and you choose:
- **Keep the Noun.** You just turned down ETH worth exactly what the Noun fetches at floor. You want this.
- **Take the ETH.** Same value, none of the hassle of selling. The Noun goes straight back to the treasury.
Flippers press the ETH button. Believers keep the Noun. And while they wait to be chosen, all 24 earn draw fees for the treasury.
## 📊 The numbers
Everything here is measured from FWA's contracts onchain (latest: a full 24-hour sample ending 2026-08-22). Volume has kept settling since emissions ended, so the timeline numbers move with it; the key result in bullet three does not. Verify it, please.
- ~310 draws/day at an average price of ~0.08 ETH. 98% of every draw fee splits equally across active listings, which works out to **~0.0038 ETH per listing per day** at current volume, or ~0.09 ETH/day across our 24 (a week ago this was 4x, at the emissions peak 10x: these scale with volume)
- Draw odds scale with 1/backing. At 1.28 ETH backing, each Noun's expected time in the pool is **~11 months** at current volume (it was ~75 days a week ago; the timeline moves inversely with volume, in either direction), roughly one draw event across our 24 every couple of weeks
- The part worth checking twice: the draw fee is the pool's harmonic mean × 1.025, and draw odds are 1/backing. Those cancel, so **a listing's expected fee income before it is ever drawn ≈ its own backing**, independent of volume and of what everyone else lists
- Per-Noun branches, in expectation:
- *Winner keeps the Noun:* ~1.28 ETH earned in fees + backing returned (minus 1% protocol cut). Treasury up ~1.3 ETH, one new Nouner who chose a Noun over cash
- *Winner takes the ETH:* ~1.28 ETH earned in fees, 1.28 ETH of backing paid out. Roughly ETH-neutral, Noun back in the treasury
- Expectation is not a guarantee. A Noun drawn on day 2 earns less than its backing (ask me about Noun 1382). A Noun that sits earns more. That variance is why this is sized at 30 ETH and not 300
- Not modeled, pure upside: $FWA depositor rewards (30% of the protocol's fee-funded buybacks accrue to depositors)
- For calibration: across all of FWA in the sample window, winners kept the NFT in ~1.3% of settlements, because most listings are cheap NFTs backed above their value. Ours are the opposite. Keeps will still be the minority, and that's fine: a keep is a new Nouner who wanted in, a buyback is a round trip that paid us fees
## 🖼 The 24
Hand-picked from the treasury and shaped like a pyramid: the oldest Noun we have at the top, three from the early days, six from the middle years, fourteen from the no-bid era that were minted straight into the treasury. All 24 heads are different, all 24 accessories are different, and Noun 1980 is the only Noun in the entire treasury wearing the Gnars accessory.
**11**
  
**26 · 82 · 89**
     
**279 · 408 · 548 · 559 · 801 · 861**
      
**1914 · 1917 · 1929 · 1933 · 1942 · 1950 · 1954**
      
**1957 · 1958 · 1969 · 1980 · 1983 · 1988 · 1989**
## 🔧 The middleware
The treasury can't act inside FWA's 24h settlement windows, so a small manager contract sits in between. It's the only new code in this proposal and it's deliberately boring:
- Every exit path is hardcoded to the treasury: withdrawn Nouns, returned Nouns, reclaimed backing and earned fees can go nowhere else. The operator manages listings but cannot redirect a single wei
- I'm the operator at launch. The treasury can replace the operator at any time by proposal, and the role can be opened up further later (even permissionless keeper functions) if that's where we want to take it
- It's reusable. If this experiment earns its keep, a future proposal can load more Nouns into the same audited contract without deploying anything new
- Governance stays safe: 24 Nouns in escrow shift quorum by roughly 2 votes, quorum snapshots at proposal creation so no live vote is affected, and the impact only shrinks as Nouns supply grows
- Already deployed and [verified on Etherscan](https://etherscan.io/address/0x89ec417Fa93F02926bF9c28316dA4E7d0F28089b#code): `0x89ec417Fa93F02926bF9c28316dA4E7d0F28089b`. What you audit is what executes
Attached transactions send the 24 Nouns and ~30 ETH from the treasury to the manager. I then list each one at floor ÷ the live buyback rate (90% today), priced at listing time; the contract enforces a 1 ETH minimum backing on me, and every listing tx is public and checkable against the formula.
## 🔎 Check my work
Don't trust the claims above, verify them. Everything is public in [the repo](https://github.com/0xigami/fwa-middleware):
- **[27 mainnet-fork tests](https://github.com/0xigami/fwa-middleware/blob/main/contracts/test/NounsListingManager.t.sol)**, including one that replays these exact four proposal actions with all 24 Noun ids against forked mainnet state. Anyone with an RPC can run them
- **[Security audit](https://github.com/0xigami/fwa-middleware/blob/main/audit-report.md)**: a 222-item checklist walk on top of two earlier review rounds and external review by dev friends. Zero critical, high or medium findings. The one confirmed finding from the adversarial round was fixed before deployment (`pull()` skips ids a concurrent proposal may have moved, so nothing can brick execution)
- **[A live mainnet dry-run](https://github.com/0xigami/fwa-middleware/blob/main/docs/DRYRUN.md)** of the same bytecode, done with my own ETH and NFT against the real FWA before this proposal went up. Load, list, earn a real fee from a real third-party draw, claim, withdraw, return, sweep: every transaction linked, every wei accounted for, every exit landing at the hardcoded treasury address
- **[The four transactions themselves](https://github.com/0xigami/fwa-middleware/blob/main/docs/TRANSACTIONS.md)**, pre-encoded with a pre-flight checklist, so what you vote on is byte-for-byte what runs
One Noun, every day, forever. But somebody has to want one. Let's find out who.
⌐◨-◨
---
*Methodology: draw counts and fees from `AcquisitionRequested` events, outcomes from `NFTKept` / `DepositorBidAccepted` events on FWA core `0xB276F62DB0ce8CA2Ca5bc522695bE604521eAc1c`; listing count, total weight and fee parameters read from the same contract; treasury and auction figures from the Nouns token, auction house and treasury. Ask = 30 ETH ≈ 24 × the ~1.28 ETH backing. Backing is priced at listing time; if the floor drifts up before listing, the tail of the pyramid lists as the first backing refunds cycle home, and every unlisted wei is sweepable only to the treasury.*
# Fake World Assets
## ⚡️ TLDR
Quick summary:
- Send 24 treasury Nouns into [fwa.fun](https://fwa.fun), the onchain gacha machine
- Each backed with ~1.28 ETH so a winner nets exactly the same whether they keep the Noun or take the ETH
- No discounts, no giveaways. Anyone who keeps a Noun turned down its exact cash value to do so
- Every listing earns an equal share of every draw fee in the protocol, paid to the treasury
- In expectation, a listing earns back its own backing in fees before it is ever drawn (math below)
- Nouns and ETH move through a reusable manager contract whose every exit is hardcoded to the treasury
*Throughout this proposal, "the treasury" means the Nouns DAO treasury, the timelock at [nouns.eth](https://etherscan.io/address/0xb1a32FC9F9D8b2cf86C068Cae13108809547ef71). Full details below...*
---
## 🙋 Background
I'm gami, Nouner since the early days (Nouns 13 and 189) and founder of [Gnars](https://gnars.com), which got started with 69 ETH from [Prop 51](https://nouns.wtf/vote/51) in April 2022 and has been proliferating Nouns ever since. You've seen my proposals before. They tend to bring voters out of the woodwork. Bring them.
In July 2026 I forked FWA onto Robinhood Chain as [StockRip](https://stockrip.com): 74,000+ draws, 1,700+ ETH of volume, 900+ players ([live stats](https://stockrip.com/secretdash)). So I know this machine from both sides of the glass, because I run one. I've also fed FWA a Noun of my own: [Noun 1382](https://nouns.wtf/noun/1382), backed with my own ETH, priced too low, gone in three hours, lol. That mistake is where this proposal's pricing rule comes from.
## 🎰 Why
The treasury holds 613 Nouns and gains one every day. Since the reserve went to 2.8 ETH in April, 101 of the 102 auctions through mid-August ended with zero bids: 26 Nouns burned, 75 swept into the treasury, one single winner. The treasury's ~4,000 ETH is mostly staked and earning. Its 604 Nouns earn nothing.
FWA is doing ~310 draws and ~25 ETH in draw fees a day across 6,400+ active listings as of 2026-08-22, down from a ~2,900-draw peak as post-emissions volume settles (measured onchain, methodology at the bottom). Nouns is already whitelisted as collection #17. The machine is running either way. This proposal puts 24 of our idle Nouns inside it, earning, and in front of people.
## ⚖️ The true decision
Each Noun is listed with backing set to floor ÷ 0.9 (~1.28 ETH at time of writing, set precisely at listing time). FWA pays a winner 90% of backing if they hand the NFT back, so at this level the choice is perfectly balanced. Draw one and you choose:
- **Keep the Noun.** You just turned down ETH worth exactly what the Noun fetches at floor. You want this.
- **Take the ETH.** Same value, none of the hassle of selling. The Noun goes straight back to the treasury.
Flippers press the ETH button. Believers keep the Noun. And while they wait to be chosen, all 24 earn draw fees for the treasury.
## 📊 The numbers
Everything here is measured from FWA's contracts onchain (latest: a full 24-hour sample ending 2026-08-22). Volume has kept settling since emissions ended, so the timeline numbers move with it; the key result in bullet three does not. Verify it, please.
- ~310 draws/day at an average price of ~0.08 ETH. 98% of every draw fee splits equally across active listings, which works out to **~0.0038 ETH per listing per day** at current volume, or ~0.09 ETH/day across our 24 (a week ago this was 4x, at the emissions peak 10x: these scale with volume)
- Draw odds scale with 1/backing. At 1.28 ETH backing, each Noun's expected time in the pool is **~11 months** at current volume (it was ~75 days a week ago; the timeline moves inversely with volume, in either direction), roughly one draw event across our 24 every couple of weeks
- The part worth checking twice: the draw fee is the pool's harmonic mean × 1.025, and draw odds are 1/backing. Those cancel, so **a listing's expected fee income before it is ever drawn ≈ its own backing**, independent of volume and of what everyone else lists
- Per-Noun branches, in expectation:
- *Winner keeps the Noun:* ~1.28 ETH earned in fees + backing returned (minus 1% protocol cut). Treasury up ~1.3 ETH, one new Nouner who chose a Noun over cash
- *Winner takes the ETH:* ~1.28 ETH earned in fees, 1.28 ETH of backing paid out. Roughly ETH-neutral, Noun back in the treasury
- Expectation is not a guarantee. A Noun drawn on day 2 earns less than its backing (ask me about Noun 1382). A Noun that sits earns more. That variance is why this is sized at 30 ETH and not 300
- Not modeled, pure upside: $FWA depositor rewards (30% of the protocol's fee-funded buybacks accrue to depositors)
- For calibration: across all of FWA in the sample window, winners kept the NFT in ~1.3% of settlements, because most listings are cheap NFTs backed above their value. Ours are the opposite. Keeps will still be the minority, and that's fine: a keep is a new Nouner who wanted in, a buyback is a round trip that paid us fees
## 🖼 The 24
Hand-picked from the treasury and shaped like a pyramid: the oldest Noun we have at the top, three from the early days, six from the middle years, fourteen from the no-bid era that were minted straight into the treasury. All 24 heads are different, all 24 accessories are different, and Noun 1980 is the only Noun in the entire treasury wearing the Gnars accessory.
**11**
  
**26 · 82 · 89**
     
**279 · 408 · 548 · 559 · 801 · 861**
      
**1914 · 1917 · 1929 · 1933 · 1942 · 1950 · 1954**
      
**1957 · 1958 · 1969 · 1980 · 1983 · 1988 · 1989**
## 🔧 The middleware
The treasury can't act inside FWA's 24h settlement windows, so a small manager contract sits in between. It's the only new code in this proposal and it's deliberately boring:
- Every exit path is hardcoded to the treasury: withdrawn Nouns, returned Nouns, reclaimed backing and earned fees can go nowhere else. The operator manages listings but cannot redirect a single wei
- I'm the operator at launch. The treasury can replace the operator at any time by proposal, and the role can be opened up further later (even permissionless keeper functions) if that's where we want to take it
- It's reusable. If this experiment earns its keep, a future proposal can load more Nouns into the same audited contract without deploying anything new
- Governance stays safe: 24 Nouns in escrow shift quorum by roughly 2 votes, quorum snapshots at proposal creation so no live vote is affected, and the impact only shrinks as Nouns supply grows
- Already deployed and [verified on Etherscan](https://etherscan.io/address/0x89ec417Fa93F02926bF9c28316dA4E7d0F28089b#code): `0x89ec417Fa93F02926bF9c28316dA4E7d0F28089b`. What you audit is what executes
Attached transactions send the 24 Nouns and ~30 ETH from the treasury to the manager. I then list each one at floor ÷ the live buyback rate (90% today), priced at listing time; the contract enforces a 1 ETH minimum backing on me, and every listing tx is public and checkable against the formula.
## 🔎 Check my work
Don't trust the claims above, verify them. Everything is public in [the repo](https://github.com/0xigami/fwa-middleware):
- **[27 mainnet-fork tests](https://github.com/0xigami/fwa-middleware/blob/main/contracts/test/NounsListingManager.t.sol)**, including one that replays these exact four proposal actions with all 24 Noun ids against forked mainnet state. Anyone with an RPC can run them
- **[Security audit](https://github.com/0xigami/fwa-middleware/blob/main/audit-report.md)**: a 222-item checklist walk on top of two earlier review rounds and external review by dev friends. Zero critical, high or medium findings. The one confirmed finding from the adversarial round was fixed before deployment (`pull()` skips ids a concurrent proposal may have moved, so nothing can brick execution)
- **[A live mainnet dry-run](https://github.com/0xigami/fwa-middleware/blob/main/docs/DRYRUN.md)** of the same bytecode, done with my own ETH and NFT against the real FWA before this proposal went up. Load, list, earn a real fee from a real third-party draw, claim, withdraw, return, sweep: every transaction linked, every wei accounted for, every exit landing at the hardcoded treasury address
- **[The four transactions themselves](https://github.com/0xigami/fwa-middleware/blob/main/docs/TRANSACTIONS.md)**, pre-encoded with a pre-flight checklist, so what you vote on is byte-for-byte what runs
One Noun, every day, forever. But somebody has to want one. Let's find out who.
⌐◨-◨
---
*Methodology: draw counts and fees from `AcquisitionRequested` events, outcomes from `NFTKept` / `DepositorBidAccepted` events on FWA core `0xB276F62DB0ce8CA2Ca5bc522695bE604521eAc1c`; listing count, total weight and fee parameters read from the same contract; treasury and auction figures from the Nouns token, auction house and treasury. Ask = 30 ETH ≈ 24 × the ~1.28 ETH backing. Backing is priced at listing time; if the floor drifts up before listing, the tail of the pyramid lists as the first backing refunds cycle home, and every unlisted wei is sweepable only to the treasury.*
fake-world-assetsremove stale treasury % figure
setApprovalForAll(address,bool)# Fake World Assets
## ⚡️ TLDR
Quick summary:
- Send 24 treasury Nouns into [fwa.fun](https://fwa.fun), the onchain gacha machine
- Each backed with ~1.28 ETH so a winner nets exactly the same whether they keep the Noun or take the ETH
- No discounts, no giveaways. Anyone who keeps a Noun turned down its exact cash value to do so
- Every listing earns an equal share of every draw fee in the protocol, paid to the treasury
- In expectation, a listing earns back its own backing in fees before it is ever drawn (math below)
- Ask is ~30 ETH, 0.7% of the treasury
- Nouns and ETH move through a reusable manager contract whose every exit is hardcoded to the treasury
*Throughout this proposal, "the treasury" means the Nouns DAO treasury, the timelock at [nouns.eth](https://etherscan.io/address/0xb1a32FC9F9D8b2cf86C068Cae13108809547ef71). Full details below...*
---
## 🙋 Background
I'm gami, Nouner since the early days (Nouns 13 and 189) and founder of [Gnars](https://gnars.com), which got started with 69 ETH from [Prop 51](https://nouns.wtf/vote/51) in April 2022 and has been proliferating Nouns ever since. You've seen my proposals before. They tend to bring voters out of the woodwork. Bring them.
In July 2026 I forked FWA onto Robinhood Chain as [StockRip](https://stockrip.com): 74,000+ draws, 1,700+ ETH of volume, 900+ players ([live stats](https://stockrip.com/secretdash)). So I know this machine from both sides of the glass, because I run one. I've also fed FWA a Noun of my own: [Noun 1382](https://nouns.wtf/noun/1382), backed with my own ETH, priced too low, gone in three hours, lol. That mistake is where this proposal's pricing rule comes from.
## 🎰 Why
The treasury holds 613 Nouns and gains one every day. Since the reserve went to 2.8 ETH in April, 101 of the 102 auctions through mid-August ended with zero bids: 26 Nouns burned, 75 swept into the treasury, one single winner. The treasury's ~4,000 ETH is mostly staked and earning. Its 604 Nouns earn nothing.
FWA is doing ~310 draws and ~25 ETH in draw fees a day across 6,400+ active listings as of 2026-08-22, down from a ~2,900-draw peak as post-emissions volume settles (measured onchain, methodology at the bottom). Nouns is already whitelisted as collection #17. The machine is running either way. This proposal puts 24 of our idle Nouns inside it, earning, and in front of people.
## ⚖️ The true decision
Each Noun is listed with backing set to floor ÷ 0.9 (~1.28 ETH at time of writing, set precisely at listing time). FWA pays a winner 90% of backing if they hand the NFT back, so at this level the choice is perfectly balanced. Draw one and you choose:
- **Keep the Noun.** You just turned down ETH worth exactly what the Noun fetches at floor. You want this.
- **Take the ETH.** Same value, none of the hassle of selling. The Noun goes straight back to the treasury.
Flippers press the ETH button. Believers keep the Noun. And while they wait to be chosen, all 24 earn draw fees for the treasury.
## 📊 The numbers
Everything here is measured from FWA's contracts onchain (latest: a full 24-hour sample ending 2026-08-22). Volume has kept settling since emissions ended, so the timeline numbers move with it; the key result in bullet three does not. Verify it, please.
- ~310 draws/day at an average price of ~0.08 ETH. 98% of every draw fee splits equally across active listings, which works out to **~0.0038 ETH per listing per day** at current volume, or ~0.09 ETH/day across our 24 (a week ago this was 4x, at the emissions peak 10x: these scale with volume)
- Draw odds scale with 1/backing. At 1.28 ETH backing, each Noun's expected time in the pool is **~11 months** at current volume (it was ~75 days a week ago; the timeline moves inversely with volume, in either direction), roughly one draw event across our 24 every couple of weeks
- The part worth checking twice: the draw fee is the pool's harmonic mean × 1.025, and draw odds are 1/backing. Those cancel, so **a listing's expected fee income before it is ever drawn ≈ its own backing**, independent of volume and of what everyone else lists
- Per-Noun branches, in expectation:
- *Winner keeps the Noun:* ~1.28 ETH earned in fees + backing returned (minus 1% protocol cut). Treasury up ~1.3 ETH, one new Nouner who chose a Noun over cash
- *Winner takes the ETH:* ~1.28 ETH earned in fees, 1.28 ETH of backing paid out. Roughly ETH-neutral, Noun back in the treasury
- Expectation is not a guarantee. A Noun drawn on day 2 earns less than its backing (ask me about Noun 1382). A Noun that sits earns more. That variance is why this is sized at 30 ETH and not 300
- Not modeled, pure upside: $FWA depositor rewards (30% of the protocol's fee-funded buybacks accrue to depositors)
- For calibration: across all of FWA in the sample window, winners kept the NFT in ~1.3% of settlements, because most listings are cheap NFTs backed above their value. Ours are the opposite. Keeps will still be the minority, and that's fine: a keep is a new Nouner who wanted in, a buyback is a round trip that paid us fees
## 🖼 The 24
Hand-picked from the treasury and shaped like a pyramid: the oldest Noun we have at the top, three from the early days, six from the middle years, fourteen from the no-bid era that were minted straight into the treasury. All 24 heads are different, all 24 accessories are different, and Noun 1980 is the only Noun in the entire treasury wearing the Gnars accessory.
**11**
  
**26 · 82 · 89**
     
**279 · 408 · 548 · 559 · 801 · 861**
      
**1914 · 1917 · 1929 · 1933 · 1942 · 1950 · 1954**
      
**1957 · 1958 · 1969 · 1980 · 1983 · 1988 · 1989**
## 🔧 The middleware
The treasury can't act inside FWA's 24h settlement windows, so a small manager contract sits in between. It's the only new code in this proposal and it's deliberately boring:
- Every exit path is hardcoded to the treasury: withdrawn Nouns, returned Nouns, reclaimed backing and earned fees can go nowhere else. The operator manages listings but cannot redirect a single wei
- I'm the operator at launch. The treasury can replace the operator at any time by proposal, and the role can be opened up further later (even permissionless keeper functions) if that's where we want to take it
- It's reusable. If this experiment earns its keep, a future proposal can load more Nouns into the same audited contract without deploying anything new
- Governance stays safe: 24 Nouns in escrow shift quorum by roughly 2 votes, quorum snapshots at proposal creation so no live vote is affected, and the impact only shrinks as Nouns supply grows
- Already deployed and [verified on Etherscan](https://etherscan.io/address/0x89ec417Fa93F02926bF9c28316dA4E7d0F28089b#code): `0x89ec417Fa93F02926bF9c28316dA4E7d0F28089b`. What you audit is what executes
Attached transactions send the 24 Nouns and ~30 ETH from the treasury to the manager. I then list each one at floor ÷ the live buyback rate (90% today), priced at listing time; the contract enforces a 1 ETH minimum backing on me, and every listing tx is public and checkable against the formula.
## 🔎 Check my work
Don't trust the claims above, verify them. Everything is public in [the repo](https://github.com/0xigami/fwa-middleware):
- **[27 mainnet-fork tests](https://github.com/0xigami/fwa-middleware/blob/main/contracts/test/NounsListingManager.t.sol)**, including one that replays these exact four proposal actions with all 24 Noun ids against forked mainnet state. Anyone with an RPC can run them
- **[Security audit](https://github.com/0xigami/fwa-middleware/blob/main/audit-report.md)**: a 222-item checklist walk on top of two earlier review rounds and external review by dev friends. Zero critical, high or medium findings. The one confirmed finding from the adversarial round was fixed before deployment (`pull()` skips ids a concurrent proposal may have moved, so nothing can brick execution)
- **[A live mainnet dry-run](https://github.com/0xigami/fwa-middleware/blob/main/docs/DRYRUN.md)** of the same bytecode, done with my own ETH and NFT against the real FWA before this proposal went up. Load, list, earn a real fee from a real third-party draw, claim, withdraw, return, sweep: every transaction linked, every wei accounted for, every exit landing at the hardcoded treasury address
- **[The four transactions themselves](https://github.com/0xigami/fwa-middleware/blob/main/docs/TRANSACTIONS.md)**, pre-encoded with a pre-flight checklist, so what you vote on is byte-for-byte what runs
One Noun, every day, forever. But somebody has to want one. Let's find out who.
⌐◨-◨
---
*Methodology: draw counts and fees from `AcquisitionRequested` events, outcomes from `NFTKept` / `DepositorBidAccepted` events on FWA core `0xB276F62DB0ce8CA2Ca5bc522695bE604521eAc1c`; listing count, total weight and fee parameters read from the same contract; treasury and auction figures from the Nouns token, auction house and treasury. Ask = 30 ETH ≈ 24 × the ~1.28 ETH backing. Backing is priced at listing time; if the floor drifts up before listing, the tail of the pyramid lists as the first backing refunds cycle home, and every unlisted wei is sweepable only to the treasury.*
fake-world-assets
# NounStrategy
Introducing The Perpetual Noun Machine, powered by [TokenStrategy](https://tokenstrategy.com) from [Token Works](https://token.works/). Designed to get Nouns DAO exposure, forever. NounStrategy will automatically buy and list floor Nouns for a profit, using trading fees generated by the $NOUNSTR token.
## How it works:
1. An ERC20 token gets deployed to a Uniswap V4 pool with a hook that enforces a 10% buy/sell fee. Token is fair-launched with a full supply (1,000,000,000 tokens), then added to the liquidity pool
2. Whether bought/sold, fees pool up in ETH, with 8% to the Noun accumulation pool, 1% to Nouns DAO treasury, and 1% to buy and burn $PNKSTR (the PunkStrategy protocol token that powers it all)
3. Once the accumulation pool reaches the threshold for a floor Noun purchase, anyone can execute a buy and re-list at 1.2x, and when it sells, all of the ETH buys and burns the official $NOUNSTR token
Fees are enforced at the contract-level using custom Uniswap v4 hooks, which means each trade MUST pay the fee to be executed. There is an initial 99% buy fee, which lowers to a resting 10% fee in order to prevent sniping.
I've reached out to [Adam](https://x.com/rhynotic) to ensure Nouns voting delegation can be passed through, after successful deployment, to avoid bricking DAO governance in case of significant traction.
## Looking ahead
I see this as a great opportunity to expand the Nouniverse, generate secondary volume, attract new auction bids, distribute dormant treasury Nouns, and inspire a new era of experimentation among nounsfolk.
Attached transaction deploys everything required for NounStrategy to function, including payment of the 1 ETH deployment fee ([see docs](https://docs.tokenstrategy.com/)). Our strategy will be indexed and get its own UI like [this CrypToadz example](https://www.tokenstrategy.com/strategies/0x92cedfdbce6e87b595e4a529afa2905480368af4).
If successful, we'd be the first fully onchain DAO executed strategy deployment.
Follow [@nounstrategy](https://farcaster.xyz/nounstrategy) with notis on.
⌐◨-◨
# NounStrategy
Introducing The Perpetual Noun Machine, powered by [TokenStrategy](https://tokenstrategy.com) from [Token Works](https://token.works/). Designed to get Nouns DAO exposure, forever. NounStrategy will automatically buy and list floor Nouns for a profit, using trading fees generated by the $NOUNSTR token.
## How it works:
1. An ERC20 token gets deployed to a Uniswap V4 pool with a hook that enforces a 10% buy/sell fee. Token is fair-launched with a full supply (1,000,000,000 tokens), then added to the liquidity pool
2. Whether bought/sold, fees pool up in ETH, with 8% to the Noun accumulation pool, 1% to Nouns DAO treasury, and 1% to buy and burn $PNKSTR (the PunkStrategy protocol token that powers it all)
3. Once the accumulation pool reaches the threshold for a floor Noun purchase, anyone can execute a buy and re-list at 1.2x, and when it sells, all of the ETH buys and burns the official $NOUNSTR token
Fees are enforced at the contract-level using custom Uniswap v4 hooks, which means each trade MUST pay the fee to be executed. There is an initial 99% buy fee, which lowers to a resting 10% fee in order to prevent sniping.
I've reached out to [Adam](https://x.com/rhynotic) to ensure Nouns voting delegation can be passed through, after successful deployment, to avoid bricking DAO governance in case of significant traction.
## Looking ahead
I see this as a great opportunity to expand the Nouniverse, generate secondary volume, attract new auction bids, distribute dormant treasury Nouns, and inspire a new era of experimentation among nounsfolk.
Attached transaction deploys everything required for NounStrategy to function, including payment of the 1 ETH deployment fee ([see docs](https://docs.tokenstrategy.com/)). Our strategy will be indexed and get its own UI like [this CrypToadz example](https://www.tokenstrategy.com/strategies/0x92cedfdbce6e87b595e4a529afa2905480368af4).
If successful, we'd be the first fully onchain DAO executed strategy deployment.
Follow [@nounstrategy](https://farcaster.xyz/nounstrategy) with notis on.
⌐◨-◨nounstrategyupdated with current information and required transaction for deployment
moosh-x-nouns-:-decentralized-infra-support@0xBf54...36f5
Love to see it. Moosh team are goated and also from Sydney. Have seen them win a bunch of hackathons. They're a part of the Aus Buildooors community I call home. Can vouch for any of the lads if you need any further insight. Would love to see Nouns get behind them however possible. Plus I'm in desperate need of an update on their work. So please let me join if you guys do a call!
> Hey Wylin! Appreciate you checking out the post and video 🙏
>
> Thanks for bringing up berryOS and nouns95, we can package these node frontends as app templates for Moosh which would let users simply drag-and-drop them onto their deployments.
>
> In Moosh, once there is a template any user can self-host their own nouns95 or berryOS frontend as a gateway to the nouns ecosystem which they can share with their friends and communities as an alternative access point. These instances provide extreme redundancy and censorship resistance, they will remain even if all of the nouns.wtf, nouns.camp, nouns95.wtf and berryos.wtf sites went down. Instances are shared socially which implies greater person-to-person trust rather than a comparatively faceless web domain, servers can always be compromised.
>
> **Tldr;**
>
> - Self-host a Nouns95 or BerryOS instance and share it with your friends
>
> - Keep using and contributing to Nouns without anyone being able to stop you
>
> - With a Moosh template, users can go and deploy the app on-demand even if the main sites go down.
>
> We can even go further than this, a Nouns95 and BerryOS template is only the beginning as moosh templates are composable which means they can be bundled with a curated selection of other apps to make a more fully featured use-case. Lots to think about…
>
>
>
>
> #### The ‘Ask’:
>
> Our request is to be considered for the Nouns DAO small grants 0.1-10E since the more support we can gather from Web3 communities like Nouns, the closer we get to launching without having to take other investment vehicles e.g. venture capital. That keeps the infrastructure fully community-owned and uncompromised. We would like to put a Nouns candidate for proposal forward soon but for now we wanted to start a discussion to say hi and introduce ourselves and flesh out even stronger collaboration ideas. E.g. as part of what we can give in return, we would love to collaborate with the Nouns contributors to BerryOS and your other development teams, it feels like a natural alignment.
>
> You picked up on another great point we didn’t specifically talk about in our intro video - Beta testers! We would love people to give feedback on our early builds to help us refine them, that can include Nouners running homeservers. Homeservers can be used in Moosh as provider nodes for other people to use, or individually, to self-host through the desktop app.
>
> It would be a very fruitful experiment indeed!
>
> **P.S. We had trouble finding the Berry OS source code, in the berryOS.wtf app the ‘About Berry’ > ‘Open Source on Github’ link goes to a 404. It needs to be updated to [https://github.com/BerryCC0/berry-os](https://github.com/BerryCC0/berry-os) .**
>
> ⌐◨-◨
> \- Moosh Team
# NounStrategy
Introducing The Perpetual Noun Machine, powered by [NFTStrategy](https://nftstrategy.fun/) and [PunkStrategy](https://punkstrategy.fun/) from [Token Works](https://token.works/). Designed to get Nouns DAO exposure, forever. NounStrategy will automatically buy and list floor Nouns for a profit, using trading fees generated by the $NOUNSTR token.
## How it works:
1. An ERC20 token gets deployed to a Uniswap V4 pool with a hook that enforces a 10% buy/sell fee. Starting market cap is $50k with 99% of tokens added to LP and 1% to Nouns DAO treasury
2. Whether bought/sold, fees pool up in ETH, with 8% to the Noun accumulation pool, 1% to Nouns DAO treasury, and 1% to buy and burn $PNKSTR (the PunkStrategy protocol token that powers it all)
3. Once the accumulation pool reaches the threshold for a floor Noun purchase, anyone can execute a buy and re-list at 1.2x, and when it sells, all of the ETH buys and burns the official $NOUNSTR token
This continues forever, and I've reached out to the team to ensure Nouns voting delegation can be passed through, to avoid bricking DAO governance in case of significant traction.
Also, to deter snipers, buy fees start at 95% and decrease by 1% each minute, eventually resting at the 10% mentioned earlier.
## Looking ahead
I see this as a great opportunity to expand the Nouniverse, generate secondary volume, attract new auction bids, distribute dormant treasury Nouns, and inspire a new era of experimentation among nounsfolk.
Attached transaction will currently fail. This is because Adam and the TokenWorks team are yet to open their NFTStrategy Factory contract to the public (need this set to true). My aim is to show them we are serious so they let us in and send them 1 ETH for the privilege.
Once an arrangement is made, we can graduate from a candidate to a proposal. We'd be the first DAO to deploy a strategy, all handled fully onchain, just like their protocol. How cool!
Follow [@NounStrategy](https://x.com/nounstrategy) with notis on to track our progress.
⌐◨-◨nounstrategy
Cancelling for now to apply feedback that wasn’t surfaced during the Topic or Candidate phases.
Still fully believe in the proposal.
Grateful to everyone who engaged. We’ll be back with feedback applied and an even stronger value proposition.
Special thanks to those who gave guidance privately in recent days. Your care for the project is a blessing.
⌐◨-◨
@0x8e77...9505
Totally fair, Trav. The 420K figure was chosen for practical reasons: it balances meaningful yield, a clean 2 percent protocol equity stake, and sufficient liquidity to activate the market. Any memetic overlap is secondary. The goal here is full control, real yield, and a path toward future coordination experiments.
>
>
> Not a fan of 4/20 memes.
>
@0x15BC...2781
Thanks for your VwR. The structure is built for preservation first. It is fully onchain, fully reversible, and always under DAO control.
The 420K amount is not just about earning yield. It is about seeding the market with enough liquidity to support real borrow demand.
On alignment, we see it not just in aesthetic influence but in shared origins. MOG and Nouns both emerged from the same memetic culture, and there are builders active in both ecosystems.
This is a chance to explore that overlap in a way that benefits both sides. Along with supporting me, a Nounish builder, to bootstrap public commons DeFi infrastructure that can be very useful to Nouns in the very near future.
>
>
> Not sold on the alignment here. Appreciate treasury preservation attempt though. Potentially if possible dabble with a smaller $, as a proof of concept.
>
@0x6a02...80F4
Appreciate you laying this out clearly, Volky. This is not about giving degens more leverage. It is about inviting Nouns to experiment with credit, one of the oldest coordination tools in human history. For over 5000 years, debt has funded ideas before they were fully formed. This proposal asks whether that same mechanism can now work onchain, in a way that aligns with Nouns’ mission and values.
The DAO does not buy or hold MOG. It lends USDS into an over-collateralised, isolated market where others take the price risk. If MOG drops in value, the positions are liquidated accordingly and funds are protected. No treasury loss. No contagion.
On cultural alignment, it is less about the meme itself and more about what MOG represents. It emerged from the same internet-native energy that inspired Nouns. This proposal uses that overlap to trial a new model where Nouns can be funded by the culture it helps create.
We hear the concern. That is why the structure is cautious by design. No ETH is spent. No tokens are bought. It is fully onchain and reversible. A structured experiment with upside and a clean exit if needed.
>
>
> tbh I don't see the cultural alignment after reading the [MOG about page](https://mogcoin.xyz/about).
>
> I personally worry about getting involved with $MOG not primarily because of the consequences for Nouns, but rather because of what can happen on the other side of this market.
>
> Memecoins usually wreak havoc when the music stops. Hard to make the case for providing more leverage opportunities for degens as a Nounish deed.
>
@0xCEEd...D915
Appreciate the thoughtful feedback. On the size, we aimed for an amount that makes the yield meaningful and ensures the market is properly seeded. The DAO retains full control and can withdraw anytime, so it is designed to be safe while still impactful.
On the legal side, this is a straightforward loan using stablecoins and public infrastructure. Completely trustless, no offchain agreements, and no custody. Just pure public commons DeFi.
If there are legal concerns worth addressing, we are open to exploring them in a follow-up.
>
>
> interesting concept but two issues: 1) way too much for a initial trial and 2) would prefer to see our attorneys sign off before moving in this direction
>
@0x8cD6...5a44
Appreciate the concern, Adesu. The key point is that the DAO isn't buying or holding a memecoin. It's lending USDS into an isolated, over-collateralised market on Morpho. If MOG drops in value, borrower positions are liquidated as needed to protect the lender. They are also heavily incentivised to either add more collateral, or repay their loans to avoid liquidations. No other assets are affected.
Yes, MOG is volatile. The structure is designed to contain that volatility, not expose Nouns to it. In return, the DAO earns meaningful yield (around 20 percent) while keeping full control of its funds.
This is just the first step. The model can support other assets too. In fact, after our May 6 hard launch we can support ANY token that meets the protocol enforced requirements.
But this proposal is about proving the concept. That ideas can start funding Nouns.
>
>
> I understand the needs of trying to do something and get some funds somewhere.
>
> but the memecoin volatility seems to much for it, arent there other options to get some interests?
>
@0x6fB5...83b0
Appreciate you sharing your view, Peter. Totally fair not to back something you don’t fully understand. That’s a principle more people should follow.
Just to clarify for anyone reading: this proposal doesn’t put Nouns in a position where it holds or is exposed to MOG. The DAO lends USDS into an isolated, over-collateralised market on Morpho. If MOG dropped to zero, lenders are protected through liquidations, and no other funds are affected.
We chose this market because there's borrow demand, an extremely active long-term community, and they're culturally aligned. But the structure itself is generalisable, and fully reversible. No tokens are purchased, no ETH is spent, and the DAO keeps full control throughout.
Thanks for engaging. These discussions help the entire DAO sharpen its decision making.
>
>
> Defi aint my jam and I'm not going to put money behind something I don't entirely understand. The risks of being associated with a shitcoin seem far too great. MOG is incredibly volatile and could actually go to 0?
>
@0xdfB6...d939
Love hearing that. Appreciate you taking the time to dive into the mechanics too. We’re just getting started. ⌐◨-◨
>
>
> been learning more about DeFi thanks to Gami. how the crypto underbelly works. Oracles and real world connections to apply decentralized finance onto real world assets. really love the imf protocol as there is meme value in book value.
>
> go to - www.imf.org (for the meme value)
>
@0x5160...8523
Appreciate the thoughtful take, thank you! We agree on the value of cross-community experimentation. This proposal is fully reversible and keeps the DAO in control. The 420K amount isn’t just about earning meaningful yield, it also ensures the market is seeded with enough liquidity to activate real borrow demand. If it works, we’ve proven a new credit primitive Nouns can use too. If not, we unwind cleanly and learn from it.
>
>
> I'm pro cross community synergies and experimentation with financial building blocks .
>
> Risk seems manageable. Although we could trial run with less.
>
@0x2117...E42a
Thanks for the questions. Here’s a quick clarification for others reading:
1. There’s no impermanent loss here. Morpho Blue is not an LP or AMM. USDS is lent into a single-sided, over-collateralised, isolated market.
2. The 2% stake in IMF is not based on MOG. It’s equity in the IMF protocol itself. The $IMF token owns the protocol. Whoever holds 51% controls it. No governance, no emissions, no multisigs.
3. We selected MOG because the market is live, active, and culturally aligned with Nouns. It already has real borrow demand. After the May 6 hard launch, we will be open to ANY token, with onboarding via the Pool mechanism.
4. Union is exploring under-collateralised credit. It’s promising, but this proposal uses fully deployed, immutable infrastructure with over $4B in deposits and 25+ audits behind it via Morpho.
5. A “flagship” USDC vault would be fine, but it doesn’t create protocol exposure or cultural alignment. This one does.
This proposal is about creating mutual benefit. Nouns earns yield and gains protocol equity, while IMF gets to prove a new model. It paves the way for future experiments where funding goes both directions.
>
>
> Why not just a flagship morpho usdc vault? Seems simpler and less risky. Why not Union protocol? They’ve been around longer and have more features? The 2% stake is based on a meme token so this is the equivalent of getting stock at a startup only worth anything if it actually hits critical mass/goes public. Why not do lending with a more stable pair? Why not another pair, why this one? Didn’t read anything about impermanent loss here are we somehow immune for all that, how?
>
# Fixing The Flywheel: Lending Alongside Spending
## TLDR
Nouns DAO is invited to lend 420,000 [USDS](https://sky.money/) to [International Meme Fund (IMF)](https://imf.bz), a crypto-native credit union building Community Coordinated Credit on Ethereum. The funds earn \~20% APY in USDS from borrowers using [MOG](https://mogcoin.xyz) as collateral, secured by [Morpho's](https://morpho.org/) robust and battle-tested infrastructure. This is not a grant. It’s a trustless, reversible loan. Nouns earns yield, supports a culturally aligned protocol, and helps close the loop. Laying the foundation for Nouns to fund ideas. **And be funded by them.**
## Context
Nouns DAO has led the way in funding public goods, memetic culture, and internet-native identity. But with a shrinking treasury and limited value returning from funded proposals, it’s time to explore new [Nouns Break Even](https://www.nouns.camp/topics/0x39a7ea92f59d74a950e4a08990519ee44ef3abc0-nouns-break-even-movement) aligned approaches. Not to replace grants, but to complement them.
This proposal acknowledges a critical gap in the original [Nouns Virtuous Cycle](https://medium.com/@punk4156/the-nouns-virtuous-cycle-95586bb9c7c9) described by [4156](https://www.nouns.camp/voters/4156.eth). Without mechanisms for accountability or value feedback, the current cycle breaks down. By introducing onchain credit, Nouns can upcycle its coordination engine. Proliferating not just memes, but momentum.
As an [early contributor](https://www.nouns.camp/voters/gami.eth) to Nouns and founder of [Gnars](https://gnars.com), I’ve watched this experiment grow from day one. This proposal offers a courageous but clear next step. IMF delivers new infrastructure for Nouns to back its mission with capital coordination.
[IMF Credit](https://docs.imf.bz) is a protocol that empowers anyone to unlock credit using any token as collateral. It’s built for coordination, not extraction. It’s secured by Morpho Blue, Ethereum’s most respected modular lending infrastructure. IMF Credit includes Pools, Loans, and Yield, enabling cultural communities to coordinate capital without selling their assets.
## What We’re Proposing
- Convert 420,000 USDC into USDS (a stablecoin issued by Sky, formerly Maker DAO)
- Lend this 420,000 USDS to the MOG-USDS market in the IMF protocol
- Earn approximately 20% APY, paid in USDS (adaptive curve [interest rate model](https://docs.morpho.org/overview/concepts/irm/))
- Funds remain under DAO control and can be withdrawn via a follow-up proposal
- Upon proposal execution, 2% of the total $IMF token supply will be transferred to the Nouns DAO treasury, representing a 2% ownership stake in the protocol
There are no intermediaries. No multisigs. The DAO interacts directly with the protocol.
## Mechanics
Here’s what happens on execution:
- Nouns converts 420,000 USDC to [USDS](https://sky.money)
- 420,000 USDS is deposited into the **MOG-USDS market** on [Morpho Blue](https://morpho.org)
- Market is **isolated.** Only affects MOG-USDS pair, and no other token or protocol
- Borrowers post **MOG** as collateral and draw USDS up to **77% LLTV**
- Secured by a dedicated oracle and comprehensive liquidations infrastructure
- Nouns DAO earns **real interest** from these borrowers. No emissions, no gimmicks
- Interest rates are **adaptive**, based on market demand ([IRM model](https://docs.morpho.org/overview/concepts/irm))
- Yield is paid in USDS and accrues to the DAO owned position
- DAO can withdraw its funds at any time via a follow-up proposal
- **No multisig, no custodian, no offchain process**
This is trustless, reversible, and secured by Ethereum’s best infrastructure.
## Why It Matters
### Earn Yield, Not Dilution
Nouns doesn’t need to spend ETH to support coordination. It can put its stablecoins to work, earning yield while supporting a culturally aligned protocol built to serve memecoin economies and internet-native communities.
### Credit as a Complement to Grants
This proposal doesn’t replace grants. It complements them. Builders who hold $NOUNS could borrow against it to fund ideas, repaying over time. This aligns incentives, creates measurable accountability, and adds a sustainable new layer to Nouns’ funding ecosystem.
### Cultural Synergy with Mog and IMF
[Mog coin](https://mogcoin.xyz)’s aesthetic and community are deeply inspired by Nouns. The artist behind Mog’s rebrand, [Mike Three](https://twitter.com/enjoyoor), is a Nouns fan who credits Noggles as inspiration for the Moggles, the Pit Viper sunglasses now iconic in Mog culture. [Ripe](https://x.com/ripe0x), a prolific Nouns builder and smart contract artist, and [Batz](https://x.com/batzdu), a celebrated artist and [new Noun owner](https://x.com/batzdu/status/1882109879437103527), are also active in the Mog ecosystem.
Nouns and Mog are part of the same cultural movement. IMF Credit empowers Mog. This proposal links all three and proves what coordinated credit can unlock.
### Backing Ethereum-Native Coordination
IMF is one of four launch partners of [Salutary](https://salutary.io), a new onchain standard for tokens with credible economic structure. The $IMF token doesn’t pay dividends. Instead, protocol revenue is reinvested in growth. If someone wants to acquire the protocol, they must acquire 51% of the supply. This introduces a real, onchain acquisition mechanism. It brings the “threat of takeover” dynamic from equities into crypto.
### Built on Battle-Tested Infrastructure
IMF Credit is secured by Morpho Blue. It’s modular, immutable, and already supports billions in total value locked. When the DAO deposits USDS, it does so directly, securely, and without custodial risk.
## Risks & Transparency
We take risk seriously. Here’s what Nouns DAO should know:
- **Market Risk**: If the value of MOG drops significantly, borrower positions may face **partial liquidation**. These events protect lenders but could reduce borrow demand or slow repayments.
- **Oracle Risk**: Each market uses a dedicated oracle. If compromised, it could misprice collateral. Morpho mitigates this through isolated markets, robust oracle feeds, and comprehensive liquidations infrastructure.
- **Liquidity Risk**: Withdrawals depend on available liquidity. In high utilisation scenarios, some USDS may be temporarily locked until borrowers repay or new deposits enter.
Nouns DAO retains full control of the funds. No trust is required. All value flows onchain.
## Trustless. Immutable. Audited.
IMF Borrow and Lend are powered by [Morpho Blue](https://morpho.org/), the most secure and flexible lending infrastructure on Ethereum. Morpho currently secures over $4.2B in deposits and $1.7B in active loans, with all markets isolated, immutable, and free from governance risk.
Morpho’s contracts are [formally verified](https://docs.morpho.org/overview/resources/formal-verification/) and have undergone [25+ independent audits](https://docs.morpho.org/overview/resources/audits/), with an active [bug bounty on Immunefi](https://immunefi.com/bug-bounty/morpho/information/). There are no upgrade paths or privileged access. Just smart contracts that work as designed.
While not directly used in this proposal, the Pools component of IMF Credit is also undergoing multiple audits and has its own [bug bounty program through Hashlock](https://hashlock.com/bug-bounty/imf), further reinforcing IMF’s commitment to secure, onchain coordination.
By leveraging Morpho Blue, IMF Credit delivers high-yield lending with the assurance of battle-tested, transparent, and decentralized infrastructure.
## Detailed Transaction Breakdown
1. Approve 420,000 [USDC](https://etherscan.io/token/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48#writeProxyContract#F1) to Maker PSM
2. Swap USDC to 420,000 DAI via [Maker PSM](https://etherscan.io/address/0xf6e72db5454dd049d0788e411b06cfaf16853042#writeContract#F11)
3. Approve 420,000 [DAI](https://etherscan.io/token/0x6b175474e89094c44da98b954eedeac495271d0f#writeContract#F1) to Sky Converter
4. Convert DAI to 420,000 USDS via [Sky Converter](https://etherscan.io/address/0x3225737a9bbb6473cb4a45b7244aca2befdb276a#writeContract#F1)
5. Approve 420,000 [USDS](https://etherscan.io/address/0xdc035d45d973e3ec169d2276ddab16f1e407384f#writeProxyContract#F1) to Meta Morpho V1\_1
6. Deposit 420,000 USDS to [Meta Morpho V1_1](https://etherscan.io/address/0xdef1fce2df6270fdf7e1214343bebbab8583d43d#writeContract#F6)
7. Claim 660,000 [IMF](https://etherscan.io/token/0x05BE1d4c307C19450A6Fd7cE7307cE72a3829A60#writeContract#F6) to [Nouns](https://etherscan.io/address/0xb1a32FC9F9D8b2cf86C068Cae13108809547ef71) ([approved](https://etherscan.io/tx/0xa39e3fd1fdae41bb124f4f86080c87b4a9cb64896e81c7137a57d00e589175bf#eventlog))
## Long-Term Potential
This proposal is the beginning of something meaningful. In future, Nouns DAO can:
- Seed a NOUNS/USDS Pool in IMF Credit, to earn fees and unlock lending market
- Enable builders to borrow against $NOUNS instead of relying solely on grants
- Activate treasury-held NFTs and other assets as productive collateral
These outcomes will emerge. The only question is whether Nouns leads the way.
## Conclusion
This is a moment to be bold. To experiment with conviction. To evolve what funding looks like in the Nouniverse. IMF has been building Community Coordinated Credit from the ground up since our inception at the ETHGlobal Sydney hackathon, May 2024.
[International Meme Fund](https://imf.bz) offers Nouns DAO a new tool. It’s a way to coordinate value without giving it away. This proposal requires no trust, no permanent treasury depletion, and opens doors for future innovation.
**Credit is a weapon. Let’s use it together.**
[gami.eth](https://warpcast.com/gami)
⌐◨-◨
# Fixing The Flywheel: Lending Alongside Spending
## TLDR
Nouns DAO is invited to lend 420,000 [USDS](https://sky.money/) to [International Meme Fund (IMF)](https://imf.bz), a crypto-native credit union building Community Coordinated Credit on Ethereum. The funds earn \~20% APY in USDS from borrowers using [MOG](https://mogcoin.xyz) as collateral, secured by [Morpho's](https://morpho.org/) robust and battle-tested infrastructure. This is not a grant. It’s a trustless, reversible loan. Nouns earns yield, supports a culturally aligned protocol, and helps close the loop. Laying the foundation for Nouns to fund ideas. **And be funded by them.**
## Context
Nouns DAO has led the way in funding public goods, memetic culture, and internet-native identity. But with a shrinking treasury and limited value returning from funded proposals, it’s time to explore new [Nouns Break Even](https://www.nouns.camp/topics/0x39a7ea92f59d74a950e4a08990519ee44ef3abc0-nouns-break-even-movement) aligned approaches. Not to replace grants, but to complement them.
This proposal acknowledges a critical gap in the original [Nouns Virtuous Cycle](https://medium.com/@punk4156/the-nouns-virtuous-cycle-95586bb9c7c9) described by [4156](https://www.nouns.camp/voters/4156.eth). Without mechanisms for accountability or value feedback, the current cycle breaks down. By introducing onchain credit, Nouns can upcycle its coordination engine. Proliferating not just memes, but momentum.
As an [early contributor](https://www.nouns.camp/voters/gami.eth) to Nouns and founder of [Gnars](https://gnars.com), I’ve watched this experiment grow from day one. This proposal offers a courageous but clear next step. IMF delivers new infrastructure for Nouns to back its mission with capital coordination.
[IMF Credit](https://docs.imf.bz) is a protocol that empowers anyone to unlock credit using any token as collateral. It’s built for coordination, not extraction. It’s secured by Morpho Blue, Ethereum’s most respected modular lending infrastructure. IMF Credit includes Pools, Loans, and Yield, enabling cultural communities to coordinate capital without selling their assets.
## What We’re Proposing
- Convert 420,000 USDC into USDS (a stablecoin issued by Sky, formerly Maker DAO)
- Lend this 420,000 USDS to the MOG-USDS market in the IMF protocol
- Earn approximately 20% APY, paid in USDS (adaptive curve [interest rate model](https://docs.morpho.org/overview/concepts/irm/))
- Funds remain under DAO control and can be withdrawn via a follow-up proposal
- Upon proposal execution, 2% of the total $IMF token supply will be transferred to the Nouns DAO treasury, representing a 2% ownership stake in the protocol
There are no intermediaries. No multisigs. The DAO interacts directly with the protocol.
## Mechanics
Here’s what happens on execution:
- Nouns converts 420,000 USDC to [USDS](https://sky.money)
- 420,000 USDS is deposited into the **MOG-USDS market** on [Morpho Blue](https://morpho.org)
- Market is **isolated.** Only affects MOG-USDS pair, and no other token or protocol
- Borrowers post **MOG** as collateral and draw USDS up to **77% LLTV**
- Secured by a dedicated oracle and comprehensive liquidations infrastructure
- Nouns DAO earns **real interest** from these borrowers. No emissions, no gimmicks
- Interest rates are **adaptive**, based on market demand ([IRM model](https://docs.morpho.org/overview/concepts/irm))
- Yield is paid in USDS and accrues to the DAO owned position
- DAO can withdraw its funds at any time via a follow-up proposal
- **No multisig, no custodian, no offchain process**
This is trustless, reversible, and secured by Ethereum’s best infrastructure.
## Why It Matters
### Earn Yield, Not Dilution
Nouns doesn’t need to spend ETH to support coordination. It can put its stablecoins to work, earning yield while supporting a culturally aligned protocol built to serve memecoin economies and internet-native communities.
### Credit as a Complement to Grants
This proposal doesn’t replace grants. It complements them. Builders who hold $NOUNS could borrow against it to fund ideas, repaying over time. This aligns incentives, creates measurable accountability, and adds a sustainable new layer to Nouns’ funding ecosystem.
### Cultural Synergy with Mog and IMF
[Mog coin](https://mogcoin.xyz)’s aesthetic and community are deeply inspired by Nouns. The artist behind Mog’s rebrand, [Mike Three](https://twitter.com/enjoyoor), is a Nouns fan who credits Noggles as inspiration for the Moggles, the Pit Viper sunglasses now iconic in Mog culture. [Ripe](https://x.com/ripe0x), a prolific Nouns builder and smart contract artist, and [Batz](https://x.com/batzdu), a celebrated artist and [new Noun owner](https://x.com/batzdu/status/1882109879437103527), are also active in the Mog ecosystem.
Nouns and Mog are part of the same cultural movement. IMF Credit empowers Mog. This proposal links all three and proves what coordinated credit can unlock.
### Backing Ethereum-Native Coordination
IMF is one of four launch partners of [Salutary](https://salutary.io), a new onchain standard for tokens with credible economic structure. The $IMF token doesn’t pay dividends. Instead, protocol revenue is reinvested in growth. If someone wants to acquire the protocol, they must acquire 51% of the supply. This introduces a real, onchain acquisition mechanism. It brings the “threat of takeover” dynamic from equities into crypto.
### Built on Battle-Tested Infrastructure
IMF Credit is secured by Morpho Blue. It’s modular, immutable, and already supports billions in total value locked. When the DAO deposits USDS, it does so directly, securely, and without custodial risk.
## Risks & Transparency
We take risk seriously. Here’s what Nouns DAO should know:
- **Market Risk**: If the value of MOG drops significantly, borrower positions may face **partial liquidation**. These events protect lenders but could reduce borrow demand or slow repayments.
- **Oracle Risk**: Each market uses a dedicated oracle. If compromised, it could misprice collateral. Morpho mitigates this through isolated markets, robust oracle feeds, and comprehensive liquidations infrastructure.
- **Liquidity Risk**: Withdrawals depend on available liquidity. In high utilisation scenarios, some USDS may be temporarily locked until borrowers repay or new deposits enter.
Nouns DAO retains full control of the funds. No trust is required. All value flows onchain.
## Trustless. Immutable. Audited.
IMF Borrow and Lend are powered by [Morpho Blue](https://morpho.org/), the most secure and flexible lending infrastructure on Ethereum. Morpho currently secures over $4.2B in deposits and $1.7B in active loans, with all markets isolated, immutable, and free from governance risk.
Morpho’s contracts are [formally verified](https://docs.morpho.org/overview/resources/formal-verification/) and have undergone [25+ independent audits](https://docs.morpho.org/overview/resources/audits/), with an active [bug bounty on Immunefi](https://immunefi.com/bug-bounty/morpho/information/). There are no upgrade paths or privileged access. Just smart contracts that work as designed.
While not directly used in this proposal, the Pools component of IMF Credit is also undergoing multiple audits and has its own [bug bounty program through Hashlock](https://hashlock.com/bug-bounty/imf), further reinforcing IMF’s commitment to secure, onchain coordination.
By leveraging Morpho Blue, IMF Credit delivers high-yield lending with the assurance of battle-tested, transparent, and decentralized infrastructure.
## Detailed Transaction Breakdown
1. Approve 420,000 [USDC](https://etherscan.io/token/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48#writeProxyContract#F1) to Maker PSM
2. Swap USDC to 420,000 DAI via [Maker PSM](https://etherscan.io/address/0xf6e72db5454dd049d0788e411b06cfaf16853042#writeContract#F11)
3. Approve 420,000 [DAI](https://etherscan.io/token/0x6b175474e89094c44da98b954eedeac495271d0f#writeContract#F1) to Sky Converter
4. Convert DAI to 420,000 USDS via [Sky Converter](https://etherscan.io/address/0x3225737a9bbb6473cb4a45b7244aca2befdb276a#writeContract#F1)
5. Approve 420,000 [USDS](https://etherscan.io/address/0xdc035d45d973e3ec169d2276ddab16f1e407384f#writeProxyContract#F1) to Meta Morpho V1\_1
6. Deposit 420,000 USDS to [Meta Morpho V1_1](https://etherscan.io/address/0xdef1fce2df6270fdf7e1214343bebbab8583d43d#writeContract#F6)
7. Claim 660,000 [IMF](https://etherscan.io/token/0x05BE1d4c307C19450A6Fd7cE7307cE72a3829A60#writeContract#F6) to [Nouns](https://etherscan.io/address/0xb1a32FC9F9D8b2cf86C068Cae13108809547ef71) ([approved](https://etherscan.io/tx/0xa39e3fd1fdae41bb124f4f86080c87b4a9cb64896e81c7137a57d00e589175bf#eventlog))
## Long-Term Potential
This proposal is the beginning of something meaningful. In future, Nouns DAO can:
- Seed a NOUNS/USDS Pool in IMF Credit, to earn fees and unlock lending market
- Enable builders to borrow against $NOUNS instead of relying solely on grants
- Activate treasury-held NFTs and other assets as productive collateral
These outcomes will emerge. The only question is whether Nouns leads the way.
## Conclusion
This is a moment to be bold. To experiment with conviction. To evolve what funding looks like in the Nouniverse. IMF has been building Community Coordinated Credit from the ground up since our inception at the ETHGlobal Sydney hackathon, May 2024.
[International Meme Fund](https://imf.bz) offers Nouns DAO a new tool. It’s a way to coordinate value without giving it away. This proposal requires no trust, no permanent treasury depletion, and opens doors for future innovation.
**Credit is a weapon. Let’s use it together.**
[gami.eth](https://warpcast.com/gami)
⌐◨-◨nouns-fund-ideas-↔-ideas-fund-nounsfeedback applied and ready to proceed. will be available for calls, one-one-ones and group discussions, any time, day or night. please dm me on warpcast.com/gami for my calendar link to make a booking
# Fixing The Flywheel: Lending Alongside Spending
## TLDR
This proposal invites Nouns DAO to lend 420,000 [USDS](https://sky.money/) to [International Meme Fund (IMF)](https://imf.bz), a crypto-native credit union building Community Coordinated Credit on Ethereum. The funds will earn around 20% APY by supplying liquidity to the MOG-USDS market, secured by [Morpho's](https://morpho.org/) robust and battle-tested infrastructure. This is not a grant. It’s a trustless, reversible loan. Nouns earns yield, supports a culturally aligned protocol, and helps close the loop. Laying the foundation for Nouns to fund ideas. **And be funded by them.**
## Context
Nouns DAO has led the way in funding public goods, memetic culture, and internet-native identity. But with a shrinking treasury and limited value returning from funded proposals, it’s time to explore new approaches. Not to replace grants, but to complement them.
This proposal acknowledges a critical gap in the original [Nouns Virtuous Cycle](https://medium.com/@punk4156/the-nouns-virtuous-cycle-95586bb9c7c9) described by 4156. Without mechanisms for accountability or value feedback, the current cycle breaks down. By introducing onchain credit, Nouns can upcycle its coordination engine. Proliferating not just memes, but momentum.
As an early contributor to Nouns and founder of [Gnars](https://gnars.com), I’ve watched this experiment grow from day one. This proposal offers a courageous but clear next step. IMF delivers new infrastructure for Nouns to back its mission with capital coordination.
[IMF Credit](https://docs.imf.bz) is a protocol that empowers anyone to unlock credit using any token as collateral. It’s built for coordination, not extraction. It’s secured by Morpho Blue, Ethereum’s most respected modular lending infrastructure. IMF Credit includes Pools, Loans, and Yield, enabling cultural communities to coordinate capital without selling their assets.
## What We’re Proposing
- Convert 420,000 USDC into USDS (a stablecoin issued by Sky, formerly Maker DAO)
- Lend this USDS to the MOG-USDS market in the IMF protocol
- Earn approximately 20% APY, paid in USDS (adaptive curve [interest rate model](https://docs.morpho.org/overview/concepts/irm/))
- Funds remain under DAO control and can be withdrawn at any time via a follow-up proposal
- Upon proposal execution, 2% of the total $IMF token supply will be transferred to the Nouns DAO treasury
There are no intermediaries. No multisigs. The DAO interacts directly with the protocol.
## Mechanics
Here’s what happens on execution:
- Nouns converts 420,000 USDC to [USDS](https://sky.money), a DAO-issued stablecoin from the creators of DAI
- 420,000 USDS is deposited into the **MOG-USDS credit market** on [IMF Credit](https://imf.bz), powered by [Morpho Blue](https://morpho.org)
- This market is **isolated.** It only affects the MOG-USDS pair, and no other token or protocol
- Borrowers post **MOG** as collateral and draw USDS up to **77% LLTV**, secured by a dedicated oracle and comprehensive liquidations infra
- Nouns DAO earns **real interest** from these borrowers. No emissions, no gimmicks
- Interest rates are **adaptive**, based on market demand ([IRM model](https://docs.morpho.org/overview/concepts/irm))
- Yield is paid in USDS and accrues to the DAO
- The DAO can withdraw its funds at any time via a follow-up proposal. **No multisig, no custodian, no offchain process**
This is trustless, reversible, and secured by Ethereum’s best infrastructure.
## Why It Matters
### Earn Yield, Not Dilution
Nouns doesn’t need to spend ETH to support coordination. It can put its stablecoins to work, earning yield while supporting a culturally aligned protocol built to serve memecoin economies and internet-native communities.
### Credit as a Complement to Grants
This proposal doesn’t replace grants. It complements them. Builders who hold $NOUNS could borrow against it to fund ideas, repaying over time. This aligns incentives, creates measurable accountability, and adds a sustainable new layer to Nouns’ funding ecosystem.
### Cultural Synergy with Mog and IMF
[Mog coin](https://mogcoin.xyz)’s aesthetic and community are deeply inspired by Nouns. The artist behind Mog’s rebrand, [Mike Three](https://twitter.com/enjoyoor), is a Nouns fan who credits Noggles as inspiration for the Moggles, the Pit Viper sunglasses now iconic in Mog culture. [Ripe](https://x.com/ripe0x), a prolific Nouns builder and smart contract artist, and [Batz](https://x.com/batzdu), a celebrated artist and [new Noun owner](https://x.com/batzdu/status/1882109879437103527), are also active in the Mog ecosystem.
Nouns and Mog are part of the same cultural movement. IMF Credit empowers Mog. This proposal links all three and proves what coordinated credit can unlock.
### Backing Ethereum-Native Coordination
IMF is one of four launch partners of [Salutary](https://salutary.io), a new onchain standard for tokens with credible economic structure. The $IMF token doesn’t pay dividends. Instead, protocol revenue is reinvested in growth. If someone wants to acquire the protocol, they must acquire 51% of the supply. This introduces a real, onchain acquisition mechanism. It brings the “threat of takeover” dynamic from equities into crypto.
### Built on Battle-Tested Infrastructure
IMF Credit is secured by Morpho Blue. It’s modular, immutable, and already supports billions in total value locked. When the DAO deposits USDS, it does so directly, securely, and without custodial risk.
## Risks & Transparency
We take risk seriously. Here’s what Nouns DAO should know:
- **Market Risk**: If the value of MOG drops significantly, borrower positions may face **partial liquidation**. These events protect lenders but could reduce borrow demand or slow repayments.
- **Oracle Risk**: Each market uses a dedicated oracle. If compromised, it could misprice collateral. Morpho mitigates this through isolated markets, robust oracle feeds, and comprehensive liquidations infrastructure.
- **Liquidity Risk**: Withdrawals depend on available liquidity. In high utilisation scenarios, some USDS may be temporarily locked until borrowers repay or new deposits enter.
Nouns DAO retains full control of the funds. No trust is required. All value flows onchain.
## Detailed Transaction Breakdown
1. Approve 420,000 [USDC](https://etherscan.io/token/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48#writeProxyContract#F1) to Maker PSM
2. Swap USDC to 420,000 DAI via [Maker PSM](https://etherscan.io/address/0xf6e72db5454dd049d0788e411b06cfaf16853042#writeContract#F11)
3. Approve 420,000 [DAI](https://etherscan.io/token/0x6b175474e89094c44da98b954eedeac495271d0f#writeContract#F1) to Sky Converter
4. Convert DAI to 420,000 USDS via [Sky Converter](https://etherscan.io/address/0x3225737a9bbb6473cb4a45b7244aca2befdb276a#writeContract#F1)
5. Approve 420,000 [USDS](https://etherscan.io/address/0xdc035d45d973e3ec169d2276ddab16f1e407384f#writeProxyContract#F1) to Meta Morpho V1\_1
6. Deposit 420,000 USDS to [Meta Morpho V1_1](https://etherscan.io/address/0xdef1fce2df6270fdf7e1214343bebbab8583d43d#writeContract#F6)
7. Claim 660,000 [IMF](https://etherscan.io/token/0x05BE1d4c307C19450A6Fd7cE7307cE72a3829A60#writeContract#F6) to [Nouns](https://etherscan.io/address/0xb1a32FC9F9D8b2cf86C068Cae13108809547ef71) ([approved](https://etherscan.io/tx/0xa39e3fd1fdae41bb124f4f86080c87b4a9cb64896e81c7137a57d00e589175bf#eventlog))
## Long-Term Potential
This proposal is the beginning of something meaningful. In future, Nouns DAO can:
- Seed a NOUNS/USDS Pool in IMF Credit, to earn fees and enable lending market
- Enable builders to borrow against $NOUNS instead of relying solely on grants
- Activate treasury-held NFTs as productive collateral
These outcomes will emerge. The only question is whether Nouns leads the way.
## Conclusion
This is a moment to be bold. To experiment with conviction. To evolve what funding looks like in the Nouniverse. IMF have been heads down building IMF Credit for almost a year since our inception at the ETH Global Sydney hackathon, 3-5 May 2024.
[International Meme Fund](https://imf.bz) offers Nouns DAO a new tool. It’s a way to coordinate value without giving it away. This proposal requires no trust, no permanent treasury depletion, and opens doors for future innovation.
**Credit is a weapon. Let’s use it together.**
[gami.eth](https://warpcast.com/gami)
⌐◨-◨nouns-fund-ideas-↔-ideas-fund-nounsProposal updated in more depth, transactions added and tested, and progressed to a Candidate Proposal, so we can discuss and cross check everything together. I love you Nouns ⌐◨-◨
nouns-fund-ideas-↔-ideas-fund-nounsquick update for my fellow nounsfolk:
- phase one (of two) of protocol deployment done
- finalised our frontend update ready for deployment
- pushed a major update to our documentation
we will begin accepting mog deposits in the next twenty four hours
diagrams and config parameters will be added to docs shortly
feel free to take a read: https://docs.imf.bz
⌐◨-◨
# Nouns Fund Ideas ↔ Ideas Fund Nouns
## TLDR
This proposal invites Nouns DAO to lend $420,000 [USDS](https://sky.money/) to the [IMF Credit Cartel](https://imf.bz/), a crypto-native credit union building Community Coordinated Credit on Ethereum. The funds will earn around 20% APY by supplying liquidity to the MOG-USDS market, secured by [Morpho's](https://morpho.org/) robust and battle-tested infrastructure. This is not a grant. It’s a trustless, reversible loan. Nouns earns yield, supports a culturally aligned protocol, and helps close the loop. Laying the foundation for $NOUNS to fund ideas **and** be funded **by** them.
## Context
Nouns DAO has led the way in funding public goods, memetic culture, and internet-native identity. But with a shrinking treasury and limited value returning from funded proposals, it’s time to explore new approaches. Not to replace grants, but to complement them.
This proposal acknowledges a critical gap in the original [Nouns Virtuous Cycle](https://medium.com/@punk4156/the-nouns-virtuous-cycle-95586bb9c7c9) described by 4156. Without mechanisms for accountability or value feedback, the current cycle breaks down. By introducing onchain credit, Nouns can upcycle its coordination engine. Proliferating not just memes, but momentum.
As an early contributor to Nouns and founder of [Gnars](https://gnars.com), I’ve watched this experiment grow from day one. This proposal offers a courageous but clear next step. The IMF Credit Cartel delivers new infrastructure for Nouns to back its mission with capital coordination.
[IMF](https://imf.bz) is a protocol that empowers anyone to unlock credit using any token as collateral. It’s built for coordination, not extraction. It’s secured by Morpho Blue, Ethereum’s most respected modular lending infrastructure. IMF Credit includes Pools, Loans, and Yield, enabling cultural communities to coordinate capital without selling their assets.
## What We’re Proposing
- Convert $420,000 USDC into USDS (a stablecoin issued by Sky, formerly Maker DAO)
- Lend this USDS to the MOG-USDS market in the IMF protocol
- Earn approximately 20% APY, paid in USDS (adaptive curve [interest rate model](https://docs.morpho.org/overview/concepts/irm/))
- Funds remain under DAO control and can be withdrawn at any time via a follow-up proposal
- Upon proposal execution, 2% of the total $IMF token supply will be transferred to the Nouns DAO treasury
There are no intermediaries. No multisigs. The DAO interacts directly with the protocol.
## Why It Matters
### Earn Yield, Not Dilution
Nouns doesn’t need to spend ETH to support coordination. It can put its stablecoins to work, earning yield while supporting a culturally aligned protocol built to serve memecoin economies and internet-native communities.
### Credit as a Complement to Grants
This proposal doesn’t replace grants. It complements them. Builders who hold $NOUNS could borrow against it to fund ideas, repaying over time. This aligns incentives, creates measurable accountability, and adds a sustainable new layer to Nouns’ funding ecosystem.
### Cultural Synergy with Mog and IMF
[Mog coin](https://mogcoin.xyz)’s aesthetic and community are deeply inspired by Nouns. The artist behind Mog’s rebrand, [Mike Three](https://twitter.com/enjoyoor), is a Nouns fan who credits Noggles as inspiration for the Moggles — the Pit Viper sunglasses now iconic in Mog culture. [Ripe](https://x.com/ripe0x), a prolific Nouns builder and smart contract artist, and [Batz](https://x.com/batzdu), a celebrated artist and [new Noun owner](https://x.com/batzdu/status/1882109879437103527), are also active in the Mog ecosystem.
Nouns and Mog are part of the same cultural movement. IMF empowers Mog. This proposal links all three and proves what coordinated credit can unlock.
### Backing Ethereum-Native Coordination
IMF is one of four launch partners of [Salutary](https://salutary.io), a new onchain standard for tokens with credible economic structure. The $IMF token doesn’t pay dividends. Instead, protocol revenue is reinvested in growth. If someone wants to acquire the protocol, they must acquire 51% of the supply. This introduces a real, onchain acquisition mechanism. It brings the “threat of takeover” dynamic from equities into crypto.
### Built on Battle-Tested Infrastructure
IMF is secured by Morpho Blue. It’s modular, immutable, and already supports billions in total value locked. When the DAO deposits USDS, it does so directly, securely, and without custodial risk.
## Long-Term Potential
This proposal is the beginning of something meaningful. From here, Nouns DAO can:
- Enable builders to borrow against $NOUNS instead of relying solely on grants
- Activate treasury-held NFTs as productive collateral
- Seed a NOUNS/USDS Pool in IMF, generating fees and enabling future lending markets
These outcomes will emerge. The only question is whether Nouns leads the way.
## Conclusion
This is a moment to be bold. To experiment with conviction. To evolve what funding looks like in the Nouniverse.
The [IMF Credit Cartel](https://imf.bz) offers Nouns DAO a new tool. It’s a way to coordinate value without giving it away. This proposal requires no trust, no permanent treasury depletion, and opens doors for future innovation.
**Credit is a weapon. Let’s use it together.**
⌐◨-◨nouns-fund-ideas-↔-ideas-fund-nouns
back yourself and those around you
⌐◨-◨ 🤘 ◨-◨¬
+1
> Would love to see even more nounish extensions canonized in official traits, and I can't think of any more deserving for the first slot than Gnars!
>
> +1
>
> > Gnars is one of the most epic Nouns sub/spinoff communities. I think it'd be a cool homage to canonize them here with this accessory trait in the main collection. I'll be voting yes once the prop starts!
# 🎨 Noundry: Add Gnars Accessory
*submitted via [Noundry Gallery](https://gallery.noundry.wtf/trait/676f393ab4dae644374b3aa9)*
## Summary
This proposal adds a new **accessory** trait: Gnars
Showcase Noun
Trait artwork
Circle crop
Palette: 2 colors
## Playground testing
[Click here](https://gallery.noundry.wtf/trait/676f393ab4dae644374b3aa9) to see auto-generated combinations of the new part with existing Nouns parts.
## Some words from the artist
Update to [Proposal 713](https://www.nouns.camp/proposals/713) applying [feedback from brett.⌐◨-◨](https://warpcast.com/gami/0x0ee5fcdd) on placement. I've decided to move the icon left by 1 pixel which places it centrally within the bounds of many existing accessories of a similar size and profile:
As mentioned in the original proposal:
> [Gnars](https://warpcast.com/~/channel/gnars) is a pioneering Nouns subculture.
>
> 8 pixels portray "🤘" to pay homage.
>
> Architects make architecture.
>
> Cults make culture.
>
> ⌐◨-◨
Shred the Nouns,
[呂丹冊工](https://warpcast.com/gami)
## Nouns Art Contribution Agreement
**Signer**:
```
0x387a161C6b25aA854100aBaED39274e51aaffffd
```
**Message**:
```
I, gami, hereby waive all copyright and related or neighboring rights together with all associated claims and causes of action with respect to this work to the extent possible under the law.
I have read and understand the terms and intended legal effect of the Nouns Art Contribution Agreement, available at https://z5pvlzj323gcssdd3bua3hjqckxbcsydr4ksukoidh3l46fhet4q.arweave.net/z19V5TvWzClIY9hoDZ0wEq4RSwOPFSopyBn2vninJPk, and hereby voluntarily elect to apply it to this contribution.
Contribution name: Gnars accessory
Contribution specification: data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACAAAAAgCAYAAABzenr0AAAAAXNSR0IArs4c6QAAAGdJREFUWEdjZBhgwDjA9jOMOmA0BEZDYDQERkNgNARGQ2A0BEZDYDQERkNgaIfA/5eW/xnFjzPCaHL6GBSFAMjiX8u+g+1lL7xAlllkaYL5FOQAEBvkiAFxADlBjq6HohAYdQA1QgAAYeYWIe9TBtkAAAAASUVORK5CYII=
```
**Signature**:
```
0xf2cf7c01e88248e8f4cafc8a1751472e3e713416eceed98cf3d6102896382c3845359c451d08f5dbcef5a927d6d0cf08ed6c8f2a83f745988774605cf35464d91b
```
You can verify the signature using [Etherscan](https://etherscan.io/verifiedSignatures) or any other [EIP-191](https://eips.ethereum.org/EIPS/eip-191) verification tool
superseding with [this new candidate](https://www.nouns.camp/candidates/gnars-accessory-2024-12-28-387a161c6b25aa854100abaed39274e51aaffffd) as i have applied feedback and settled on best possible placement thanks
# 🎨 Noundry: Add Gnars Accessory
*submitted via [Noundry Gallery](https://gallery.noundry.wtf/trait/676f393ab4dae644374b3aa9)*
## Summary
This proposal adds a new **accessory** trait: Gnars
Showcase Noun
Trait artwork
Circle crop
Palette: 2 colors
## Playground testing
[Click here](https://gallery.noundry.wtf/trait/676f393ab4dae644374b3aa9) to see auto-generated combinations of the new part with existing Nouns parts.
## Some words from the artist
Update to [Proposal 713](https://www.nouns.camp/proposals/713) applying [feedback from brett.⌐◨-◨](https://warpcast.com/gami/0x0ee5fcdd) on placement. I've decided to move the icon left by 1 pixel which places it centrally within the bounds of many existing accessories of a similar size and profile:
As mentioned in the original proposal:
> [Gnars](https://warpcast.com/~/channel/gnars) is a pioneering Nouns subculture.
>
> 8 pixels portray "🤘" to pay homage.
>
> Architects make architecture.
>
> Cults make culture.
>
> ⌐◨-◨
Shred the Nouns,
[呂丹冊工](https://warpcast.com/gami)
## Nouns Art Contribution Agreement
**Signer**:
```
0x387a161C6b25aA854100aBaED39274e51aaffffd
```
**Message**:
```
I, gami, hereby waive all copyright and related or neighboring rights together with all associated claims and causes of action with respect to this work to the extent possible under the law.
I have read and understand the terms and intended legal effect of the Nouns Art Contribution Agreement, available at https://z5pvlzj323gcssdd3bua3hjqckxbcsydr4ksukoidh3l46fhet4q.arweave.net/z19V5TvWzClIY9hoDZ0wEq4RSwOPFSopyBn2vninJPk, and hereby voluntarily elect to apply it to this contribution.
Contribution name: Gnars accessory
Contribution specification: data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACAAAAAgCAYAAABzenr0AAAAAXNSR0IArs4c6QAAAGdJREFUWEdjZBhgwDjA9jOMOmA0BEZDYDQERkNgNARGQ2A0BEZDYDQERkNgaIfA/5eW/xnFjzPCaHL6GBSFAMjiX8u+g+1lL7xAlllkaYL5FOQAEBvkiAFxADlBjq6HohAYdQA1QgAAYeYWIe9TBtkAAAAASUVORK5CYII=
```
**Signature**:
```
0xf2cf7c01e88248e8f4cafc8a1751472e3e713416eceed98cf3d6102896382c3845359c451d08f5dbcef5a927d6d0cf08ed6c8f2a83f745988774605cf35464d91b
```
You can verify the signature using [Etherscan](https://etherscan.io/verifiedSignatures) or any other [EIP-191](https://eips.ethereum.org/EIPS/eip-191) verification tool
gnars-accessory-2024-12-28