Edit 2024-10-14: DAO can allow additional contracts to create streams. This is in order to allow selling of treasury nouns outside the auction.

Nouns DAO is considering incorporating as a Wyoming Decentralized Autonomous Unincorporated Non-profit Association (a “DUNA”). For more information regarding the considerations around that process, please read the Noun Foundation’s blog post.

We were recently approached by 0xkasper from hexens, a white hat security team, who found a new attack vector based on a vulnerability we were aware of in the Nouns token contract. Nouns tech grants pod has initiated a bounty payment of 30K USDC to the team.

Since our last update on Nouns Governor we’ve been working on speccing and implementing the design described as “Approach 1: Delegation NFTs”. While working on the proposed design for $nouns and soliciting feedback from Nouners (thanks 9999!) we discovered a flaw in the Nouns Gov design we were working towards.

Client Incentives is a new mechanism for Nouns to pay clients (frontends) for interactions they facilitate between users and the Nouns protocol.

Client Incentives is a new mechanism for Nouns to pay clients (frontends) for interactions they facilitate between users and the Nouns protocol. In our previous post we described the goals and direction we’re exploring with client incentives. If you haven’t read it, please do. In this post, we’ll describe the scope for the first version we plan to release.

Nouns Fork is a minority protection mechanism that allows Nouners to exit Nouns DAO (aka OG DAO), into a fresh copy of Nouns DAO, reusing their token IDs and art, and the Nouns governance system, and taking with them their fair share of OG DAO’s treasury into the fork DAO treasury. Nouners need to band together to meet the fork threshold to be able to fork. We launched V1 of Nouns Fork with a known griefing vector, which we’d like to better explore and explain, and ultimately decide if there’s a worthwhile solution we should build.

In July 2023 we did two audits for a big Nouns DAO upgrade, first with Spearbit and then with code4rena. During the Spearbit audit, one of the fixes we made, for a medium severity issue, introduced a new critical issue; the critical issue was not caught in the first audit’s mitigation review, but was luckily caught in the second audit.

For most of 2023 Nouns DAO auctions have been won by ‘arbitrageurs’ whose primary goal is to extract profits from the DAO’s treasury by redeeming their Nouns to the DAO at a higher price than they paid at auction. This arbitrage is the result of the project’s history, having been launched in the previous bull cycle when treasury grew much faster than the DAO could spend it, followed by the bear market we’re in right now, with auctions settling at much lower prices.