Summary

This is a proposal to create and fund a 3-of-5 multi-signature wallet to safely and efficiently store and manage the Resolver and Referral rewards earned from the new Nouns Name Service (NNS) on Base. In order to be eligible for Referral rewards, we are required to make a one-time purchase of an NNS name for the DAO. In addition to the revenue the rewards will generate for the DAO, NNS will also feature us on their website as an early adopter.

Context

The new NNS offers opportunities to earn rewards through Resolver and Referral programs, paid out in $NOGS. Since our website currently provides pages for more than 1000 DAOs and all of their members, the rewards are more than likely to cover the initial cost of the wallet setup and become a source of consistent revenue for the DAO. I (millz.eth) plan to deploy the name Resolver this month and have various ideas of using our referral link on the nouns.build website in creative, yet non-obtrusive ways to onboard interested users and get rewarded for it.

Proposal Details

1. Multi-Signature Wallet (completed in advance of this proposal)

   • We have set up a 3-of-5 multi-signature wallet using the tried and true Safe{Wallet} platform.
   • We have appointed 5 reputable members as signers, 4 of which are members of the BuilderDAO Operations group, and the 5th, a member of the Product group.

2. NNS Name Registration

   • Register a unique NNS name for the DAO to facilitate participation in the Referral program. builder.⌐◨-◨ is available as one possibility.

3. Funding Allocation

   • Fund the multi-sig with $100 in ether for the NNS name registration fee.
   • Include an additional $25 in ether to account for potential Ethereum price fluctuations and to cover gas fees for sending or trading $NOGS over time as revenue is earned.

Alignment with DAO Mission

Using a multi-sig wallet for NNS rewards enhances our DAO’s operational security and transparency without flooding the Proposal system with NNS micro-transaction requests. It ensures that resources are handled responsibly, reflecting our commitment to decentralized and secure financial practices.

Accountability Measures

• Budget Breakdown
  • NNS Name Registration: $100
  • Buffer for ETH Price Fluctuations and Gas Fees: $25
• Timeline
  • Multi-Signature Wallet Setup: Already complete
  • NNS Name Registration: 1 minute per signer
  • Total time to Deployment: ~1 week (The NNS Resolver is code is already done)
• Success Metrics.
  • Purchase of an NNS name from nns.xyz.
  • Notification of the multi-signature wallet address to the NNS team, enabling Resolver rewards via NFT issuance.

Treasury Impact

The total funding request is 0.035 Ether (approximately 125 USD at the time of this proposal), representing a minimal percentage of the DAO’s treasury. This investment is partly symbolic, reflecting the DAO’s intention to engage with and support the wider Nounish community. Additionally, based on informal reports, the Referral rewards, in particular, have the potential to be lucrative. This proposal positions the DAO to generate additional revenue, foster greater community engagement, and proliferate a unique naming system that many of us already use and enjoy—a win-win-win ⌐◨-◨.