el4d.eth
0xffAF
August 31st, 2022

If you’re new to Nouns, check out the official website and this explainer video.

TLDR

  • Dynamic quorum is an upcoming governance change that reduces the tradeoff space between friction and security, making proposals harder to pass the more Nouners vote against them.
  • This is an important step towards turning off the foundation’s right to veto.
  • This change has been reviewed internally and is currently being audited on code4rena.
  • The final parameters decision will be made closer to deployment time.

→ Nouns DAO is an NFT based DAO on Ethereum, auctioning one noun a day, forever. For more info go here and here.

Deploying Nouns forks is used to be expensive

One of the key features of Nouns is that their art is stored completely on-chain. Since storing data on Ethereum is expensive, the Nouns protocol uses a run-length encoding (RLE) compression algorithm to compactly store all the pixel information required to render Nouns. You can read how it works here (a bit outdated, but still helpful).

Even after encoding the art, it cost 67.3M gas to deploy the descriptor contract and add the art data to it. That is ~3.7 ETH at the gas prices in August 2021 (55 gwei).