0x3380a055…694csent to0xf790a5f5…1365·#19,214,062·view on Etherscan
nounswap-auction-houseccarella.eth,
We appreciate your support!
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0x32d1,
Thanks for your feedback!
For your comment about auction collateralization, the ETH collatarilzation and slashing fee prevents running up the auction without consequences (as you mention in your amendment). But, thinking about this more, maybe the Nouns treasury and the person who aborted the auction should split this slashing fee (so the DAO still gets a piece).
You've highlighted a crucial aspect about ensuring fairness, particularly concerning the perceived value difference among bid Nouns. A Noun’s value is inherently subjective, and the swap auction system is designed to empower bidders to independently determine the worth of a swap, embodying the principle that value is in the eye of the beholder. Moreover, when a bid Noun is swapped and if it becomes eligible for auction again, the market will subsequently price the Noun, with any value difference accruing to the DAO, not the original holder.
The nested auction concept you proposed is compelling, offering an additional mechanism for the market to price the bid Nouns, but it introduces complexity. In this version, our aim is to maintain simplicity, however, we're definitely open to exploring something like this in a future version guided by community feedback.