Fund CrypToadz Prop House
tl;dr:
Requesting 20 ETH to fund a CrypToadz Prop House.
Idea
Prop House is public infrastructure by Nouns DAO to help communities deploy capital to onboard builders and build up their ecosystems.
I am proposing that CrypToadz fund their own house to deploy capital towards builders building on Toadz.
How does it work?
The Prop House mechanism works via funding auctions: an auction where the “lot” is ETH and the “bids” are proposals.
Below is an example of how it would work with the CrypToadz community:
- A funding round opens (e.g. 10 ETH for 5 winners at 2 ETH each)
- There’s a 1 week proposal period where anyone with an ETH address can submit a proposal that benefits Toadz ecosystem
- Once the proposal period closes, a 1 week voting period begins where Toadz holders vote for their favorite proposals (1 toad = 1 vote)
- Once the voting period ends, the proposals with the highest amount of votes get funded
The requested budget is of 20 ETH to hold two funding rounds:
- Round 1: 10 ETH for 10 winners a 1 ETH each
- Round 2: 10 ETH for 5 winners a 2 ETH each
Prop House itself will take no fees from the process. 100% of the funds will go to the winners of the funding rounds. You can learn more about Prop House by visiting the web app
This is what the CrypToadz house would look like:
Why?
For communities to flourish, they should onboard builders to build on top of their IP so that the meme spreads far and wide in the most interesting of ways. Prop House enables just that by being a tool for communities to fund builders and allow them unleash their creative energies.
Most recently, Lil Nouns DAO funded two rounds for a total of 21 ETH that resulted in:
- 65 proposals received
- 16 builders were funded
- 439 votes casted
You can review all examples of community Prop Houses by visiting the web app.
Team
Hello, I’m Seneca, one of the founders of Nouns DAO. I started with the idea of Prop House about 7 months ago and have been building it ever since with the Prop House team. You can read more about our history through our proposals to Nouns DAO (23, 62 and 105).
Custody of funds
The funds would be held in a 3/5 multi-sig where the signers are the members of the Prop House team. When rounds finish, we would distribute funds to winners within 24 hours of the round closing.
safe: 0x5BcD6f3B0a5519D448FBDf33204091bbE097C992
Future
If the community is happy with the results, CrypToadz can choose to continue to fund their Prop House with any arbitrary amount of funding they desire. I’d be happy to help the community use Prop House as a tool to build out the CrypToadz ecosystem!
