FounsDAO MIP-1

Abstract

• We propose creating our version of Nouns DAO on Fantom Opera.

What is FounsDAO and Why Fork NounsDAO?

Founs DAO (Name is TBD, FounsDAO is a working title, to be decided later on) is a daily auction for PFP NFTs that that run once per day. The proceeds of a Foun sale are sent to the founs multi-sig treasury wallet. Owning a foun entitles the holder to one vote on how the treasury will be used. Founder, aka Founders, are rewarded with every 10th NFT for the first 5 years (#10, #20, etc)

• 1 foun trustlessly auctioned every 24 hours, forever
• 100% of foun auction proceeds are trustlessly sent to Founs DAO treasury
• settlement of one auction kicks off the next
• all founs (the NFT) are members of Founs DAO
• Founs DAO uses a fork of Compound Governance
• 1 Foun = 1 vote
• treasury is controlled exclusively by founs via governance
• artwork is generative and stored directly on-chain (not IPFS)
• no explicit rules for attribute scarcity, all founs are equally rare
• 'Foun-ders' receive rewards in the form of founs (10% of supply for first 5 years)

How will this generate revenue for FMD?

• The FMD Multisig will be given 2 shares of the Founder rewards. This will allow FMD to have greater control of governance, and the potential to liquidate rewards for FTM to be shared amongst FMD members.

Motivation

• Create demand for NFT's in the Fantom Ecosystem using an already-established NFT model.
• Create revenue for FMD.
• Raise the profile of FMD in the community, by creating the first fork of an already successful ETH project.

Owners and their responsibilities

This is a list of tasks across multiple domains:

• Arshankhanifar - dev (frontend / contracts)
• fantomsaint - dev / marketing
• July - dev
• NaturalVoids - Artist / design / marketing
• merlyn - design

Timeline

Expected timeline : ~3 weeks

• 1 week for bringing the forking existing Nouns-monorepo project and getting it up and running on Testnet
• 1 week for setting up and launching / and doing marketing
• 1 week for buffer and cleaning up bugs and launching

Project cost

• Owners will be compensated a total of 5,000 FTM for delivering the project, to be paid by the Fantom Menace DAO treasury multi-sig wallet
• 1,000 FTM per owner will be paid out. There are 5 owners. Payment will be made upon FounsDAO daily auction commencement.
• FMD is investing in this project, and expects the 5,000 FTM to be repaid by FounsDAO within 365 days of Founs DAO auction commencement by the Founders Reward Multi-sig wallet

Foun-ders

• 0xJuly (0x144154AB002484f12bFa2Ba784A19BB4814C91cf)
• Arshankhanifar (0x8216dF2ED694eef1ED9fa9CAfc01DD9349B7C6ad)
• fantomsaint (0xaa5473262dBfC0E6A010E5a0896952D6657Eb3c2)
• NaturalVoids (0x2377eB3Fc4366aE614cBe7848e20d55E6a83535e)
• Merlyn (0xd6E563bb9589629A7a9c0b829122f0aA5A0483bC)
• FMD (0xce427e37f5888565e8a4c4c8110c99F81e7a5350)