Shutter Nouns DAO

Shutter DAO
1

Introduction

I’m opening a discussion about the possibility of creating a Shutter Nouns DAO, which could support the growth of the Shutter ecosystem as a complement to Shutter DAO 0x36.

A Shutter Nouns DAO could:

  • Enhance the Shutter brand

  • Create cultural alignment between Shutter and its partners

  • Create more opportunities for SHU holders to utilize their Shutter Tokens (SHU)

  • Lock up SHU for significant periods of time

  • Create an additional grants track for Shutter ecosystem projects

  • Pioneer new Shutter integrations (shielded auctions and shielded on-chain voting)

Please comment below if you …

  • Have comments, suggestions and/or questions

  • Are interested in becoming a founding partner

  • Want to contribute your skills (project management, tech, design, marketing/communications, etc.)

Disclaimer

I am submitting this Forum topic and opening this discussion in my personal capacity as an individual member of the Shutter community, and not in my official capacity as an employee of brainbot gmbh.

Background

Nouns

Nouns is a generative NFT project on the Ethereum blockchain. It has proven to be a strong mechanism for continuous funding alongside a simple, yet effective governance framework. Nouns are 32x32 pixel characters based on people, places, and things. One noun is auctioned every 24 hours, forever. The Nouns DAO treasury receives 100% of proceeds from daily noun auctions. Nouns use their voting abilities (1 Noun = 1 vote) to direct the treasury. Nouns can create and vote on governance proposals, which execute transactions on the Ethereum blockchain when they are approved. Learn more at https://nouns.wtf/.

Public Nouns

Public Nouns DAO is a good example of a friendly fork of Nouns DAO focused on a particular community and mission. It is a successful experiment in continuous public goods funding. Public Nouns DAO keeps the core fundraising and governance framework of Nouns DAO, but it makes two key changes. First, Public Nouns DAO creates their own generative NFT art so that all Public Nouns are memetic representations of public goods. Second, Public Nouns DAO only curates and funds public goods projects. Learn more at https://publicnouns.wtf/.

Benefits

Enhance The Shutter Brand: Shutter Nouns are ideal for social media profile pics (PFPs). Shutter community members would have the opportunity to use these PFPs to display their support for Shutter and increase awareness of Shutter (and its partners - see below).

Create Cultural Alignment Between Shutter And Partners: Shutter Nouns are generative NFTs made up of memetic representations of Shutter, its values, and its founding partners, possibly including: Snapshot, Gnosis, Optimism, Espresso, Eigenlayer, Autonolas, Kleros and others.

Create More Opportunities For SHU Holders To Utilize Their Shutter Tokens (SHU): In addition to Shutter DAO 0x36 governance and other possible future use cases (staking, lending, etc.), Shutter community members would have the opportunity to use their SHU to purchase Shutter Nouns.

Lock Up SHU For Significant Periods: SHU held in the Shutter Nouns DAO treasury is effectively locked and out of circulation until it is disbursed in the form of grants.

Create An Additional Grants Track For Shutter Ecosystem Projects: Shutter Nouns DAO grants would provide Shutter ecosystem projects with an additional source of funds to develop related technologies and promote growth. In some cases, Shutter Nouns DAO and Shutter DAO 0x36 could co-fund projects. In other cases, Shutter Nouns DAO or Shutter DAO 0x36 could unilaterally fund projects.

Pioneer New Shutter Integrations: Nouns DAO (and all or many of its forks) could benefit from two Shutter integrations: shielded auctions and shielded on-chain voting. Shutter Nouns DAO has the potential to be a bold initial example of these Shutter integrations, hopefully inspiring Nouns DAO (and all or many of its forks) to follow suit. (Shutter Nouns DAO could also apply for grants from Nouns DAO, Public Nouns DAO and other Nouns Protocol DAOs to cover development costs. Alternatively, Shutter Nouns DAO may fund development costs itself, thus providing value to the broader Nouns ecosystem and possibly attracting Nouns community members into the Shutter community.)

Parameters

I am suggesting the following parameters in order to create room for discussion. I hope the Shutter community will not simply accept these parameters but rather come up with parameters they believe would be suitable for a Shutter Nouns DAO.

Name: The name should be fun and creative. Shutter Nouns DAO is used here for the sake of clarity, but I think it is too boring and functional. I suggest the name Revel DAO. The word “revel” means “a usually wild party or celebration” or “to take intense pleasure or satisfaction”. It is a play on the word “reveal” in “commit-and-reveal”.

Chain: Mode Network, an Ethereum OP Stack L2 which is partnering with Shutter to launch a Shutterized Mode testnet soon. Mode Network offers low cost transactions for auction, voting and execution. Shutter Nouns DAO could also benefit from Mode’s cooperative revenue sharing and Optimism retroactive public goods funding. It may also inspire other OP Stack L2s to integrate Shutterized encrypted mempools.

Token: Shutter Token (SHU) would be used as the base currency for all Shutter Noun DAO auctions, treasury holding, and grant disbursements.

Minimum NFT Auction Bid: 1,000 SHU (roughly $200 at current prices)

Founding Partners: Shutter Nouns DAO founding partners ideally support Shutter, have similar values, and wish to have their brand included in the memetic representations which serve as the base for the Shutter Noun generative NFTs, and (possibly) seed the Shutter Nouns DAO with 25,000 SHU (roughly $5,000 at current prices) and 1 ETH each.

Connection with Shutter DAO 0x36: Shutter Nouns DAO can be created separately from Shutter DAO 0x36 - or with support from Shutter DAO 0x36.

A couple of examples:

  • Shutter DAO 0x36 may (or may not) vote to provide a grant to the winner of an RFP to Build & Deploy Shutter Nouns DAO.

  • Shutter DAO 0x36 may (or may not) facilitate the selection of founding partners by receiving applications and putting them to a off-chain vote on Snapshot for the Shutter DAO 0x36 members to vote on.

Next Steps

  • Discussion & signaling

  • Proposal to create an RFP to Build & Deploy Shutter Nouns DAO

  • RFP to Build & Deploy Shutter Nouns DAO

  • Vote on a grant from Shutter DAO 0x36 (optional)

  • Selection of founding partners

  • Create generative NFT artwork

  • Build & deploy Shutter Nouns DAO on-chain

  • Market & manage the deployed Shutter Nouns DAO

Discussion

Please comment below if you …

  • Have comments, suggestions and/or questions

  • Are interested in becoming a founding organization

  • Want to contribute your skills (project management, tech, design, marcoms, etc.)

6 Likes
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In general, the idea is great and I liked the name Revel DAO. But I don’t really understand how the staking of the SHU token will work.

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The idea of a Shutter Nouns DAO is separate from the idea of staking SHU.

You can read more and comment about staking SHU in the link in the original post.

But it’s best to keep these two ideas / topics separate.

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The proposal seem interesting. And I want to know more details on the following.

  1. How actually make the culture alignment with partners, are we gone have more interaction with their community through this or the partner will show the nft on some specific place. It will be better to hear about those partner’s thought.
  2. How much will create the dao cost, I saw there will be the founding partners out there but will be great to know the actual cost.
  3. What benefit will the Dao holder get, it is a realistic question. Me and many members in 0x36 Dao may love to participate for just ecosys developing. But without any reward seems will be hard to attract new blood with talent.
2 Likes
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Hey @franklivid -

Great questions! A few thoughts …

Each Shutter Noun would feature the head of one of the founding partners: a brainbot brain, a Gnosis owl, a Snapshot lightningbolt, etc.

Public Nouns is a good example. Each Public Noun features the head of one of the founding partners: a Gitcoin robot, an OP opossum, a clr.fund bubble, etc.

I think Gnosis community members may be unlikely to buy a Shutter PFP, but are more more likely to buy a Shutter x Gnosis PFP.

I don’t know yet.

If there is sufficient interest in the idea, I can source a couple quotations from dev houses.

Also, it may be possible to find a dev house who is willing to receive a percentage of each NFT sale until max amount has been reached. This would ensure that setup costs would not be a blocker, and it would incentivise that dev house to ensure the initial growth of Shutter Nouns DAO.

I think a Shutter Nouns DAO is just another way to build a community which is welcoming and engaging.

Some people want to trade tokens, others want to engage in Discord or Forum discussions, and still others want to sport a PFP.

Shutter Nouns DAO may also be an opportunity for some small SHU holders to exert greater influence. They may be a small fish in the big pond of Shutter DAO 0x36, but they can be a big fish in the small pond of Shutter Nouns DAO.

3 Likes
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I am generally supportive of this however I don’t understand the distinction between support from DAO 0x36 vs support from the community. In my mind the DAO is the community? Or is this with regards to funding of the development either from the DAO treasury vs community contributions?

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Yes, I think the key distinction is whether development is funded from the Shutter DAO 0x36 treasury or from community contributions.

3 Likes
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Thank you, @Loring, for this proposal! At Kleros Labs, we are supportive of such initiatives and have voted: SUPPORT - DAO 0x36.

We believe this could be an effective way to increase synergies across various ecosystems. Moreover, it is a cost-efficient and crypto-native approach to marketing. Launching on Mode, especially given the current hype, anticipated future airdrop, and expectations of a $3B valuation (plus its integration with Shutter), seems like a good idea. Regarding the name, the meaning of “revel” may not be widely known (as a non-native English speaker, I personally was unaware). However, this could serve as a clever insider joke. For now, I don’t have any alternative suggestions but am keen to hear other proposals from the community.

The concept of funding partners is indeed excellent for strengthening relationships. At Kleros, we would be interested in participating. I’m curious if you’ve received any feedback from potential partners on this? Another long-term focused question: do we aim to create other use cases for the NFT beyond voting? And do you have any specific early-stage ideas about this?

Thank you again for this initiative; we fully support this temperature check.

2 Likes
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“Temp Check” on Shutter Nouns DAO

Support - Shutter DAO 0x36 Facilitates - 91.03% :white_check_mark:

Support - Community Facilitates - 8.86%

https://snapshot.org/#/shutterdao0x36.eth/proposal/0x83bf19196918e2e8af0fe2be2ddfbc3bcf1948d4611eefe0043bf3989e988511

3 Likes
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The Glo Foundation would be pleased to join as a Founding Partner.

2 Likes
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Intro

A Drip “Drop Pool” is one additional way to kick-start the Shutter Nouns DAO treasury.

Outline

Shutter Nouns DAO could …

  • set up an Drip “Drop Pool”
  • ask the community to deposit stables and ETH
  • earn yield on the deposits
  • distribute points as the reward
  • points could be used by one or more or all founding partners to assign future token rewards

The yield goes into the Shutter Nouns DAO treasury, which will be used to provide grants to build and grow projects which benefit Shutter & founding partners.

Points as rewards could be powerful because there may be a one-to-many (not just a one-to-one) relationship between the points and the future token rewards.

Links

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Hi! Here is Fabien from Snapshot, we would be happy to participate in this initiative!

2 Likes