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Think of Nouns DAO as the cool kid on the blockchain block known for its daily Noun NFT auctions. Its integration on Base, the layer-two(L2) blockchain incubated by Coinbase makes it inherit Base's open-source ethos.
Think of Base as the express lane for transactions, collaboration and growth where things happen faster than you can say“decentralized autonomous organization”(which, let's be honest, is quite a mouthful!). With faster transactions and lower costs, it's like swapping your clunky old flip phone for the latest smartphone—suddenly, everything is just smoother and more fun.
Now that you've seen how Nouns DAO and Base connect, let's dive deeper into the discussion!
Nouns DAO is a decentralized autonomous organization (DAO) built around a unique community of NFT holders. The project is known for creating and auctioning one "Noun" NFT every day, forever. Each Noun is a pixelated character with different traits and accessories and they're auctioned to the highest bidder.
Nouns DAO runs on a fork of Compound Governance and serves as the core decision-maker for the entire Nouns ecosystem.The funds from these auctions go into the DAO's treasury, which is controlled by the holders of the Nouns NFTs. The daily auctioning can be initiated by anyone but the highest bidder gets the Noun at the end of the day.
The community can propose and vote on projects that are funded by the treasury, ranging from marketing campaigns to charitable donations or even partnerships with other projects.
One of the most interesting aspects of Nouns DAO is its open-source ethos. The artwork and code are freely available for anyone to use, remix or build upon. This has led to various derivative projects and a growing ecosystem around the NOUNS brand.
Nouns DAO's connection to Base refers to its integration with Base, a secure, low-cost builder-friendly Ethereum layer two(L2) built on the superchain's OP stack(Optimism stack) to bring the next billion users onchain. This integration brings Nouns DAO onto Base's layer-two ecosystem, which is designed to improve scalability, lower transaction costs and increase speed for users without compromising security.
In practical terms, this connection allows Nouns DAO to leverage Base's infrastructure to expand its NFT operations, potentially making Nouns auctions and other activities more accessible and cost-effective. Since Base operates as a layer-two solution, transactions on Nouns DAO could become faster and cheaper for users, which could attract more participants to bid on Nouns and engage in governance.
By integrating with Base, Nouns DAO also benefits from Base's network effects and tools, including easier onboarding for users from the Coinbase and base ecosystem. This could mean more visibility and a smoother experience for people who may not be as familiar with Ethereum but are comfortable with Coinbase and base.
Essentially, Base provides a foundation for Nouns DAO to scale its decentralized operations more efficiently while tapping into a broader audience.
You might be wondering how the founders of Nouns DAO reward themselves since 100% of all NFT auctions are deposited into the treasury.
Nounders reward themselves by collecting every 10th Noun minted for the first 5 years. These Nouns are vested and shared among the founder.
You can learn from this thriving infrastructure while setting up your brand just like other projects that were birthed through Nouns (Nouns Fest, Nouns Esports, Nouns Town etc).
In conclusion, the collaboration between Nouns DAO and Base creates an exciting opportunity for both the Nouns ecosystem and its community. By leveraging Base's efficient infrastructure, Nouns DAO not only enhances its operational capabilities but also opens the door for broader participation and engagement. As this collaboration prospers, we can expect more innovative projects and a vibrant community to flourish, driving the future of decentralized governance and NFT culture forward. The journey is just beginning.
Check out more on Nouns website.
Juliet Amobi
