An overview of Nouns DAO ⌐◨-◨,and it's code4rena audit .
A general review of Nouns and it's audit contest that took place on code4rena from 22 August 2022-27 August 2022
Nouns consist of a community, governance, and a treasury that can be used and controlled by the community.
This post would is divided into 5 sections , which covers the Nouns DAO nft, the Nouns treasury, the Nouns auctions, the Nouns code4rena audit and the Nouns DAO’s grants.
The Nouns DAO NFT
A Non-Fungible Token project, (32x32 base64 rectangular pixel svg characters, and one noun is generated every day forever). More Details about the art ;
The NFT characters are generated onchain(stored as BASE64).
- The Characters are made of traits (heads, glasses, a body, and accessories). Traits (particularly the head) , can be made of anything from animals, to things, to places (e.g bats, ape, cake, cone, Duck, Fire hydrant, bell, boots and 225 more from NousDAO, check them out here) which is kinda cool ⌐◨-◨. There is a also a background trait. Two backgrounds that can be used (cool or warm background). There is also a nouns playground here , cool right ⌐◨-◨.
There are 234 Heads, 21 Glasses, 30 Bodies and 137 Accessories trait, from Nouns DAO, check them here .
We need a seed first (generated with a sha3 hashing, from the Noun seeder contract ) of the nouns id and the blockhash(hash of the block number on ethereum)), then an image is generated from the seed with random traits explained above .
There are 424 Nouns ⌐◨-◨ at the time of this writing.
Nouns DAO Treasury 💰 and governance
The Treasury 💰 with a TVL(total value locked) of 27,518 ETH 🔐 ~ $40.30M today(AUG. 28 2022), is controlled exclusively by Nouns via governance.
The Nouns DAO's onchain core governance(Logic V1 contract ), is a fork of Compound governance.
- Proposals can be created and be voted for or against by nouns token holders where each NFT token is worth one vote . 113 proposals have been passed so far.
About Nouns auctions
The Nouns auctions take place every day (24 hrs), forever. All the ETHs generated from the auction are deposited in the Nouns DAO treasury, where they are governed by Noun owners(Nouners ⌐◨-◨).
The current auction at the time of writing(auction of Noun 424), has a bid of 64 eth by 0x78...0E5D and the Noun 424 would be transferred to him if the auction ends and he is the highest bidder. Check the latest here .
About the code4rena Nouns audit
The code4rena Nounsdao audit here is about upgrading the implementation and governance contracts from v1 to v2.
The new version contract, introduces two new features
Dynamic Governance Quorum(https://github.com/nounsDAO/nouns-tech/tree/main/dynamic-quorum): TL;DR(Adjust the quorum proportionally to the oppositions on a proposal, which allows uncontested proposals to pass at a minimum defined quorum)
Vote Refund (https://github.com/nounsDAO/nouns-tech/tree/main/vote-refund): TL;DR (Refund vote gas costs to governance participants). Trust me, that is really really cool .
About Nouns DAO funding and grants
Nouns DAO has a grants program nicknamed small grants, with a total of 84 projects funded at the time of writing and 167 eth spent also at the time of writing(https://nouns.center/funding/smallgrants), to ask questions about the grants, check out #grants-and-retro-funding channel in their discord (https://discord.com/channels/849745721544146955/903077530502828092) and learn more about grants here .
Important Nouns ⌐◨-◨ links
Discord: http://discord.gg/nouns
Twitter: https://twitter.com/nounsdao
Etherscan :
Forums: https://discourse.nouns.wtf/