0x3380a055…694csent to0x6f3e6272…223d·#18,764,986·view on Etherscan
Earlier this week, we launched the MVP version of NounSwap. It allows any Noun holders to create a prop to swap their Noun for a Noun from the treasury. Overall we received a lot of positive and constructive feedback. We've created this proposal to address the feedback and further enhance the NounSwap experience to drive the Nouns project forward. Here's what we plan to do:
We’re Bringing All Nouns Home ❤️. This proposal will return the 266 Nouns currently sitting in escrow back to the Nouns treasury.
Part 1: Improve the current version of NounSwap (v1):
Prop personalization: We're going to introduce the ability for proposers to share their personal motivations behind why they want to swap their Noun, accompanied by images of the Nouns involved for a richer narrative.
Prop fee: We will be adding an optional fee mechanism to help proposers “convince” the DAO to accept their swap. If the proposal passes, the fee will be sent to the Nouns treasury allowing the DAO to directly benefit from successful swaps.
Part 2: Permissionless Swaps (v2)
We heard that the community felt that creating a proposal for every swap could lead to prop spam/voter fatigue. So, we will be building permissionless swaps with governance-configurable parameters which include:
A fee switch: Governance can decide how much of a fee a swapper will need to pay. This will provide an additional revenue mechanism for the DAO.
Swap Exclusion: Governance will be able to determine which nouns will and will not be available for permissionless swaps. Nouns which cannot be swapped permissionlessly can still be obtained via a successful swap prop via the NounSwap v1 mechanism.
Part 3: Redemption Tokens
We want to improve the way the community distributes Nouns with a redemption token. Instead of the DAO giving out a specific Noun, they can give a redemption token, which can be redeemed for the Noun that truly resonates with the recipient. Imagine a vending-machine-like experience.
Benefits of NounSwap:
- 🔄 Evolving Tastes: People change, and so do preferences. NounSwap ensures your Noun aligns with your evolving style.
- 🌍 Community Engagement: More swaps mean increased interaction, strengthening the bonds within the Nouns community.
- 🚀 Overcoming FOMO and decision paralysis: New members need not hastily settle for a Noun from the auction, or wait months for their preferred Noun. NounSwap allows them to discover the perfect fit at their own pace.
- 🌐 Funds for DAO Treasury: Every swap will contribute a fee to the Noun treasury, fostering a sustainable and thriving Nouns ecosystem.
We believe, NounSwap is a win-win scenario for everyone. Noun holders have the opportunity to discover their 'forever Noun', enhancing overall satisfaction within the Noun ecosystem. Simultaneously, the treasury gains a new revenue stream, ensuring sustained growth and prosperity for the community.
A final comment on fungibility:
NounSwap's introduction of a swap fee ensures that Nouns remain distinctly non-fungible. The swapper's decision to exchange their Noun, coupled with the added fee, reflects a subjective valuation, emphasizing the individuality of each Noun. The voluntary nature of the process reinforces personal preferences, further distinguishing Nouns.
We hope to work closely with the Nouns community to ensure NounSwap will be highly valuable to the Nouns ecosystem. Please don't hesitate to leave feedback here, or reach out:
- X/Twitter: @PaperclipLabs
- Farcaster: @spencerp