What is Nouns DAO and The Protocols ?
Nouns DAO is an organization that was created in 2021 to steward a collection of PFP known as Nouns. The Nouns are pixelated images generated algorithmically and have unique properties. Owning a Nouns allows the holder to vote in the Nouns DAO on decisions about the project's future.
The Nouns protocol is the system developed by Nouns DAO to allow people to own, trade, and govern Nouns NFTs (non-fungible tokens).
What is Based DAO?
Based DAO is the governing entity that runs various projects, focusing on L2 Blockchain, Base Network.
Based DAO is community driven DAO has adopted the Nouns protocol for its collection. Like Nouns, Based DAO are algorithmically generated PFP NFTs with unique properties, which called Based DAO Token.
Some ways Based DAO is utilizing the Nouns model :
One New Based DAO Token released through daily auctions, forever.
Based DAO Token holders can propose and vote on changes to the protocol and community.
Each Based DAO Token equals one vote.
Based DAO smart contracts and ownership records are public on the blockchain.
Royalties from Based DAO secondary sales will go towards the Based DAO Treasury wallet
Based Nouns traits are inspired by internet culture, similar to Nouns.
What is Based Nouns ?
Based Nouns is a pilot project that runs by Based DAO. Based Nouns will launch the NFT collections on Nov 26th, 2023 with 5.000 of PFP Nouns Style.
In the future, Based Nouns’ PFP Collection will be able to have a vote power in the DAO, and Based DAO Token holder would have additional votes per token.
Conclusions
By adopting the Nouns protocol, Based DAO is able to leverage the benefits of an established model as a new NFT project. This allows the Based DAO community to focus on building its unique culture and brand. The Nouns protocol has provided a framework for collective ownership and governance that many new NFT projects are finding success with.
Be part of the movement with Based Nouns
WEBSITE | DAILY AUCTION | PROP HOUSE | BASEDNAME | DISCORD | TWITTER | MIRROR | PARAGRAPH
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