FOODNOUNS is a tasty spork of Nouns. Bid on the current NounsDAO auction below! Learn more at nouns.wtf ⌐◨-◨
FOODNOUNS is a tasty fork of the NounsDAO, an experimental on-chain avatar community bootstrapping digital community and identity. Proceeds from 3 FOODNOUNS auctions per day builds the Treasury that will fund on-chain Proposals with a focus on Food Production and Innovation, Education and Entertainment, Food and Beverage Industry Wellness and Fun!
Learn more about proposals and the FOODNOUNS DAO, take part in longer form discussions in Chef Notebook or start creating your own “off-chain” FOODNOUN using the Test Kitchen.
The FOODNOUNS Auction Contract will act as a self-sufficient FOODNOUN generation and distribution mechanism, auctioning one FOODNOUN every 8 hours, forever. Auction proceeds (ETH) are automatically deposited in the following ways: 50% to FOODNOUNS DAO treasury which is governed by FOODNOUN owners, 25% to the NounsDAO Treasury, 15% to the Kitchen Nouncil and the final 10% to the FOODNOUNDERS.
Each time an auction is settled, the settlement transaction will also cause a new FOODNOUN to be minted and a new 8 hour activation to begin.
While settlement is most heavily incentivized for the winning bidder, it can be triggered by anyone, allowing the system to trustlessly auction FOODNOUNS as long as Ethereum is operational and there are interested bidders.
In addition to the precautions taken by Compound Governance, FOODNOUNDERS have given themselves a special veto right to ensure that no malicious proposals can be passed while the FOODNOUN supply is low. This veto right will only be used if an obviously harmful governance proposal has been passed, and is intended as a last resort.
FOODNOUNDERS will probably revoke this veto right when they deem it safe to do so. This decision will be based on a healthy FOODNOUN distribution and a community that is engaged in the governance process.
FOODNOUNS are generated randomly based Ethereum block hashes. There are no 'if' statements or other rules governing Noun trait scarcity, which makes all FOODNOUNS equally rare. As of this writing, FOODNOUNS are made up of:
FOODNOUNS are stored directly on Ethereum and do not utilize pointers to other networks such as IPFS. This is possible because Noun parts are compressed and stored on-chain using a custom run-length encoding (RLE), which is a form of lossless compression.
The compressed parts are efficiently converted into a single base64 encoded SVG image on-chain. To accomplish this, each part is decoded into an intermediate format before being converted into a series of SVG rects using batched, on-chain string concatenation. Once the entire SVG has been generated, it is base64 encoded.
The FOODNOUN Seeder contract is used to determine Noun traits during the minting process. The seeder contract can be replaced to allow for future trait generation algorithm upgrades. Additionally, it can be locked by the FOODNOUNS DAO to prevent any future updates. Currently, Noun traits are determined using pseudo-random number generation:
keccak256(abi.encodePacked(blockhash(block.number - 1), nounId))
Trait generation is not truly random. Traits can be predicted when minting a FOODNOUN on the pending block.
'FOODNOUNDERS' are professional chefs turned degens who initiated FOODNOUNS. Here are the FOODNOUNDERS:
Every 10th FOODNOUN for the first year of the project (FOODNOUN ids #0, #10, #20, #30 and so on) will be automatically sent to the FOODNOUNER's multisig to be vested and shared among the founding members of the project.
'Kitchen Nouncillors' are food, technology and human enthusiasts that advice and assist FOODNOUNS DAO. Here the Kitchen Noucillors:
Every 11th FOODNOUN for the first 2 years of the project (FOODNOUN ids #1, #11, #22, #33 and so on) will be automatically sent to the Kitchen Nouncil wallet to be vested and shared among the Kitchen Nouncillors.
FOODNOUNDER and Kitchen Nouncil distributions don't interfere with the cadence of 24 hour auctions. FOODNOUNS are sent directly to the Nounder's Multisig and the Kitchen Nouncil's Multisig, and auctions continue on schedule with the next available FOODNOUN ID.