ProposalsProposal 291
ProposalsProposal 291
Nouns Stream Proposal: Payments infrastructure public good by Nouns DAO
Defeated
For
58
Against
94
Abstain
7
Quorum: 141
Proposed by
0x3B60...a43F
Reading through the votes, it appears there are some issues with the contract/audit. Insofar as that is true I'm not sure if it makes sense to retrofund the audit. But, I do like the work that's been done and think it makes sense for Nouns to fund in a future proposal.
love efforts like this however, as it stands there are too many loose ends and inconsistencies in the prop for me to support. looking forward to a future submission that incorporates feedback given
There is a definite need for milestone payments. In the event that we do need to halt funding to a project, milestone dates provide specific moments where the DAO can focus attention on evaluating proposal outcomes. This also adds incentive for proposers to create reasonable timelines and goals that they need to hit. I am supportive of development in this area.
This proposal is to retrofund an audit by 0xMacro and cover deployment costs. In general I think this is reasonable ask, however in proposal discussions further serious issues were found with the code. The audit clearly states "this audit should not solely be relied upon for security". Suddenly covering the audit costs becomes less compelling.
So what are we supposed to do? What should we rely on for security? Multiple audits? Code4rena? Is there a way to formalize and decentralize how we approach both DAO upgrades and contract interactions?
I am abstaining on this one.
i am for more flexible payment options but support taking more time + audits based on soli & co's feedback
while we appreciate the retro reward attempt, there were money losing bugs in the only audit conducted. we would be happy to vote yes after another audit by a reputable firm. the proposing team may consider working with the tech pod on such initiatives in the future as well.
I want to support this but i think this is one of the cases where its better for the community to push back and let the prop builder come back with a more refined proposal (see eg senecas feedback).
I also think there is much to gain from the team working more closely with the immediate nouns community to get this product just right.
I've met with matthew and osama in eth denver and know that their hearts are in the right place regarding their love for nouns and appreciation for public goods and the belief around the proliferation effect that nouns-branded / nouns-originated public goods can have. so while the questions the folks are raising are valid (re: seneca's comments) I trust the team to be open minded / collaborative and work through the concerns. we need more values and incentive aligned (both of the builders are nouners!) technical teams building onchain tools for our onchain world and I'm very much supportive of this energy.
While I appreciate the team’s efforts here (I love the UI!), several trusted technical folks have raised flags regarding issues with audits and clarity as to what’s being proposed and what has been implemented. For those reasons, I have to vote against.
Creating more options for mechanisms for Nouns to issue payments is a net benefit even just to Nouns itself - should others fork the contract and use it for their own projects that's even better. Streaming payments based on time/milestones will be critical to Nouns supporting larger proposals that need to be chunked up. My only main concerns here are (1) what the competitive set of tools offer (like 0xSplits) and if they/others have similar solutions on roadmap, and (2) if there are better ways for this to be affiliated by Nouns (the website is cool, having Nouns graffiti in the contract code would be cooler). Regardless, I support the spirit of the proposal and hope it will improve the DAO's ability to allocate capital long term.
Incorporating milestone and flexible recurring payments into our toolkit is crucial. While they may not be suitable for every prop, they enable us to take more risks on emerging talent and make significant investments in our established legends. Furthermore, these payment methods enhance the trust and accountability between the project and the DAO.
Nouns Stream is a public good for payments across Noun-ish DAOs and beyond. It is an open-source, free, permission-less protocol that enables Phased (milestone-based) or Periodic (recurring) payments. This public good can support various payment modes, including peer-to-peer, DAO-to-DAO, community rounds, and grants without complex setup, shadow tokens, or intermediary protocol fees.
Nouns Stream does more than further the Nouns’ visual brand/meme; it helps push the ecosystem forward with easy-to-use public goods. This protocol has already been audited by 0xMacro and deployed across Ethereum (Mainnet, Goerli), Arbitrum (Mainnet, Goerli), Optimism (Mainnet, Goerli), Polygon (Mainnet, Mumbai) and Base (Goerli).
The protocol developers, who are also Nouns’ holders, are asking for a retroactive grant of 16 eth to cover the cost of the audit (US$25,000 ie ~14 eth) and deployment (US$5,000 ie ~2 eth).
Nouns and Noun-ish DAOs have no recourse or control over outgoing funds due to a successful proposal. If a team fails to deliver or meet certain milestones, the community cannot vote to recall the remaining funds.
Moreover, contributors to longer-running, phased projects need more certainty. Today they are forced to make a single, big ask for funding or create multiple proposals over the life of their project to secure continued funding. Unfortunately, such uncertainty doesn’t help set up ambitious developers, artists, and creators for success.
Lastly, as the community evolves, it may pay specific contributors— e.g., IRL Events Coordinator — a fixed amount per quarter, paid bi-weekly.
Within the community, we have seen a healthy debate between funding experiments to further the meme while keeping treasury spending in check. Tooling like Nouns Stream helps balance where milestone-based payments can commit to experiments and revert (via Proposal) if a project is not delivering the promised objectives.
The Nouns Stream protocol is open-source, free, and permissionless. It allows anyone to set up an escrow account that is funded with funds later disbursed via one of two modes:
To further clarify and formally define:
The Controller/Sender (e.g. Nouns Governor’s Contract in the case of Nouns DAO) is the only party that can cancel the escrow and recalls funds. The Receiver can’t withdraw funds before said strike dates. Such controls allow the community to create follow-up proposals and recall funds if a project is not believed to deliver on its promise long-term.
The protocol has a tipping mechanism where payments will be pushed to the receiving address if the payout is set up with a tip incentive. This avoids the need for Receiver to claim/withdraw funds. If no tip percentage is defined during contract deployment, the Receiver has to withdraw funds as they become available manually. Today, the tips are hard-coded to go to a fixed address. The developers will release an update within a few weeks where anyone who helps run these transactions can trigger transactions and earn tips.
With predictable payout timelines, Nouns Square can hold regular Demo Day sessions for projects to share progress against milestones 👀
Some previous proposals that could’ve directly benefited from the proposed payment infrastructure include:
Nouns Stream distinguishes from existing protocols such as Juicebox and Sablier through focused features, better user experience and Nounish visual branding:
Everything has been built as open source and under the GPL license. The deliverables include a developer (React) SDK, allowing other developers to under this infrastructure within their applications. In addition, 0xMacro has audited the project.
The total ask for this project is 16 eth.
This funding will help the developers (retroactively) cover:
In the future, the developers want to extend Nouns Build and add these payout options natively (via pull request) to the project. However, this Proposal doesn’t ask for funding for any such future development:
Matthew (evav.eth, Noun#604, LilNoun#5834+5, Builder#67, Gnar#3750): 5+ years as blockchain engineer who has worked on various protocols including Burrata.xyz.
Osama (osama.eth, osamakhan.eth, Noun#463, LilNoun#5703, Builder#54, Gnar#553): 2+ years blockchain product/engineering and has helped build OlympusDAO.finance and Burrata.xyz.
Osama and Matthew have also been involved in the founding of Purple DAO — flagship Nouns Build DAO based around the Farcaster network.
Nouns Stream is a public good for payments across Noun-ish DAOs and beyond. It is an open-source, free, permission-less protocol that enables Phased (milestone-based) or Periodic (recurring) payments. This public good can support various payment modes, including peer-to-peer, DAO-to-DAO, community rounds, and grants without complex setup, shadow tokens, or intermediary protocol fees.
Nouns Stream does more than further the Nouns’ visual brand/meme; it helps push the ecosystem forward with easy-to-use public goods. This protocol has already been audited by 0xMacro and deployed across Ethereum (Mainnet, Goerli), Arbitrum (Mainnet, Goerli), Optimism (Mainnet, Goerli), Polygon (Mainnet, Mumbai) and Base (Goerli).
The protocol developers, who are also Nouns’ holders, are asking for a retroactive grant of 16 eth to cover the cost of the audit (US$25,000 ie ~14 eth) and deployment (US$5,000 ie ~2 eth).
Nouns and Noun-ish DAOs have no recourse or control over outgoing funds due to a successful proposal. If a team fails to deliver or meet certain milestones, the community cannot vote to recall the remaining funds.
Moreover, contributors to longer-running, phased projects need more certainty. Today they are forced to make a single, big ask for funding or create multiple proposals over the life of their project to secure continued funding. Unfortunately, such uncertainty doesn’t help set up ambitious developers, artists, and creators for success.
Lastly, as the community evolves, it may pay specific contributors— e.g., IRL Events Coordinator — a fixed amount per quarter, paid bi-weekly.
Within the community, we have seen a healthy debate between funding experiments to further the meme while keeping treasury spending in check. Tooling like Nouns Stream helps balance where milestone-based payments can commit to experiments and revert (via Proposal) if a project is not delivering the promised objectives.
The Nouns Stream protocol is open-source, free, and permissionless. It allows anyone to set up an escrow account that is funded with funds later disbursed via one of two modes:
To further clarify and formally define:
The Controller/Sender (e.g. Nouns Governor’s Contract in the case of Nouns DAO) is the only party that can cancel the escrow and recalls funds. The Receiver can’t withdraw funds before said strike dates. Such controls allow the community to create follow-up proposals and recall funds if a project is not believed to deliver on its promise long-term.
The protocol has a tipping mechanism where payments will be pushed to the receiving address if the payout is set up with a tip incentive. This avoids the need for Receiver to claim/withdraw funds. If no tip percentage is defined during contract deployment, the Receiver has to withdraw funds as they become available manually. Today, the tips are hard-coded to go to a fixed address. The developers will release an update within a few weeks where anyone who helps run these transactions can trigger transactions and earn tips.
With predictable payout timelines, Nouns Square can hold regular Demo Day sessions for projects to share progress against milestones 👀
Some previous proposals that could’ve directly benefited from the proposed payment infrastructure include:
Nouns Stream distinguishes from existing protocols such as Juicebox and Sablier through focused features, better user experience and Nounish visual branding:
Everything has been built as open source and under the GPL license. The deliverables include a developer (React) SDK, allowing other developers to under this infrastructure within their applications. In addition, 0xMacro has audited the project.
The total ask for this project is 16 eth.
This funding will help the developers (retroactively) cover:
In the future, the developers want to extend Nouns Build and add these payout options natively (via pull request) to the project. However, this Proposal doesn’t ask for funding for any such future development:
Matthew (evav.eth, Noun#604, LilNoun#5834+5, Builder#67, Gnar#3750): 5+ years as blockchain engineer who has worked on various protocols including Burrata.xyz.
Osama (osama.eth, osamakhan.eth, Noun#463, LilNoun#5703, Builder#54, Gnar#553): 2+ years blockchain product/engineering and has helped build OlympusDAO.finance and Burrata.xyz.
Osama and Matthew have also been involved in the founding of Purple DAO — flagship Nouns Build DAO based around the Farcaster network.
