Should We Authorize Noun Bidding?

Purpose

After Noun auctions #2-9, we stopped to regroup and plan for the future. This proposal is a plan for how much of our budget we should use for bidding on Nouns in the near future.

Explanation

This proposal sets a budget to bid on any Noun from Noun #14 to Noun #25. This budget number is available here for Sharks: (https://discord.com/channels/873484934885543967/878340103922135080/878340440292741120)

Bidders will decide the specific bidding strategy for each Noun. The budget is for all of the Nouns- if the bidders win 1 auction, we will have less funds for the next auction. We can add to their budget by future proposals.

Our current treasury is at roughly 230 ETH. We should allocate a significant portion of our treasury to bidding on nouns because of strong interest within the DAO and in the general ecosystem.

Pros

We have the opportunity of acquiring Nouns.

Cons

We could want to use these funds for our derivatives projects, and they would no longer be available if we win.

If demand falls for Nouns, we could be maliciously bid up by other auction participants if bidders do not adjust.

What voting YES would do

Grants bidders a budget to bid Nouns #14-25. Budget numbers here. https://discord.com/channels/873484934885543967/878340103922135080/878340440292741120

What voting NO would do

Leaves it unclear whether bidders are allowed to bid or not.