# Purchase Noun 948 for SZNouns Treasury. Patience and luck have rewarded us and it is now time for SZNouns to fulfill its one of its raison d'etre by purchasing a Noun! Nouns are currently auctioning between 7-9 ETH with the most recent Noun (#987) having sold for 7.55 ETH. Given the challenges around participating in the Nouns daily auction itself Bluebean.eth has purchased Noun #948 for 8 ETH and this proposal will purchase that Noun at-cost on-chain via Seaport.
# Purchase Noun 948 for SZNouns Treasury. Patience and luck have rewarded us and it is now time for SZNouns to fulfill its one of its raison d'etre by purchasing a Noun! Nouns are currently auctioning between 7-9 ETH with the most recent Noun (#987) having sold for 7.55 ETH. Given the challenges around participating in the Nouns daily auction itself Bluebean.eth has purchased Noun #948 for 8 ETH and this proposal will purchase that Noun at-cost on-chain via Seaport.
# Purchase Noun 948 for SZNouns Treasury ## Summary Patience and luck have rewarded us, and it is now time for SZNouns to fulfill its one of its raison d'etre by purchasing a Noun! Nouns are currently auctioning between 7-9 ETH, with the most recent Noun (#987) having sold for 7.55 ETH. ## Methodology Given the challenges around participating in the Nouns daily auction itself, Bluebean.eth has purchased Noun #948 for 8 ETH, and this proposal will purchase that Noun at-cost on-chain via Seaport.
# Fixing contract to reflect intended auction schedules
On June 17, 2022 SZNouns came to life aiming to differentiate itself from other Nouns derivatives with its own on-chain "snoggles" ◐-◐¬ and a community that is thoughtful about governance. And in a twist of fate, it must tackle some interesting philosophical questions from day 1.
At launch, the deployed auction schedule contained mistakes which did not follow what the SZNouns Constitution outlined. For example, at launch the emissions should be 4x a day, every 6 hours (because it is "summer SZN") but instead was operating in 12hr schedules.
This proposal aims to rectify the mistakes of the SZNounders at launch to follow the original intent of the protocol, fixing the auctions schedule specified in the Constitution.
Interestingly, there is a clear paradox - the Constitution (https://ipfs.io/ipfs/QmXSE3u7sptZ8gxihgFzv88mQ3BPcqEyTRt2LyLYCCW54u) specifies:
(1) The protocol shall not change the emissions schedule of SZNouns, and
(2) The rate of SZNouns auctions shall follow according to four annual “seasons”:
- Winter (beginning 12/1): once a day, every 24 hours
- Spring (beginning 3/1): twice a day, every 12 hours
- Summer (beginning 6/1): four times a day, every 6 hours
- Fall (beginning 9/1): twice a day, every 12 hours
We must change the emission schedule of SZNouns in order to follow the schedule outlined in (2)!
Rather than redeploying the project with the correct contracts, the SZNounders felt it would follow the spirit of crypto to let the project proceed as is and rectify changes via governance.
SZNounder bluebean.eth (the author of this proposal) shared the following rationale at https://twitter.com/jl2fa/status/1537959972675280898 but can also be further summarized here:
1. Redeploying the contracts and saying "this is the correct one" is yet another attempt at trying to achieve consensus on which contracts are "legitimate", just off-chain and more social.
Upgrading through an on-chain proposal here can lay out a clearer history of actions taken by the SZNounders in bringing this project to life.
2. The SZNouns Constitution itself has guidelines for when the Constitution may be amended, which points to some sort of acknowledgement on the necessity of amendments themselves. We believe this is one such case where a change is required - in this case, pointing to a clear mistake made by the SZNounders and amending it quickly, yet procedurally, to follow the original intent of the project.
Let it be clear however, as the SZNounders have written into the Constitution: we believe amendments to the Constitution should generally be few and only made after the most thoughtful of discussions and consensus has been reached in the spirit of reason and fairness.
3. Even if one has philosophical differences with (2), one might then point to the validity of some notion of procedural justice being met here whereby the changes being made to the protocol are following the voting and execution guidelines required by the protocol.
Today, only 3 SZNouns have been minted (1 held by SZNounders multisig, 1 held by multisig intended for Nouns DAO, 1 held by the author of this proposal). While small, there still exists room for others to disagree with the changes outlined by this proposal. We expect this type of governance to naturally become more and more difficult as the number of participants increase.
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Ultimately this is a wonderful exercise in thinking through some underlying political philosophy associated with DAOs who aim to grow via on-chain governance.
May SZNouns continue to proliferate and become a beloved community in the Nouns ecosystem.