Nounish DAO Auction Frequency

Taking the opportunity to get a public discussion regarding auction frequency going as I dont think we’ve gotten to any consensus about what the best path forward is. To summarize the chocies:

  1. One auction per 24 hours. This is the standard format on + the timing uses
  2. One auction per < 24 hours. There’s a range of how short we could make the auctions, but the general idea here is that increasing auction frequency → increases supply → lowers the price of the daily auctions and makes buying a governance NFT more accessible
  3. One auction > 24 hours. There’s a range of how long we could make the auctions, but the general idea here is that decreasing auction frequency → decreases supply → raises price point thus encouraging group/team/squad bids on NFTs which is in line with the culture we want to foster within Public Assembly

My thoughts on this:

Initial lean is toward the standard 24hr auction or to something less frequent (ex: 48 hrs, 72 hrs). The reason is less me thinking that lowering auction frequency will actually result in increased group/squad formation (i think thats more of a culture/norm thing we need to promote), but more because i saw how eratic/flip-for-profit-focused/non-consensus forming the lilnouns rollout was and I dont think thats necessarily a good example for us to follow

@salief @DBlodorn interested in hearing ur thoughts on this

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I think also there need to be a chart that shows .25% .50% and .1% next to each other in terms of the prop threshold

I’m leaning towards the standard 24 to start, curious what the gut feeling around modifying auction frequencies post dao launch is, ie. voting to increase or decrease frequency?

Following from a conversation @DBlodorn @0xTranqui and I were having today:

Considering that there isn’t any DAOs experimenting with a slower auction frequency, we should consider this option more seriously as a way to further push ourselves outside the vetted nouns model. In tandem, we should consider pairing the slower auction frequency with the seasons trope, where it is expected that auction frequency / auction artwork is always subject to experimentation and evolution. I think this sets up higher standards for experimentation with Public Assembly, and invites more teams to apply to work with us. (ex. Season Partner 1: Builder DAO)

For the actual artwork for “Season 1”, I have an idea to highlight our founding team. Taking inspiration from Lidar scans I’ve been seeing more and more of (here and here), I want to get scans of everyone wearing PA merch + holding a pink zorb I can add in post. I know @0xTranqui said that non-svg artwork is a pain but I think it could be cool to really break the boundaries of this whole one noun, everyday, forever box. This means that each season is highly curated pieces of artwork that was crafted specifically for the next round of partnerships / ideas / build direction conceived by a small focused group of governance owners.

For season 1, we can do something like:

  1. Each token(1/7) being auctioned every day for a week for 7 weeks, diversifying individuals and groups to participate.

  2. One token per week for 7 weeks, maximizing the interest levels and group participation by scarcity and time. Which also gives more time for teams to actually consider buying in with strategic partnerships in mind.

(If you didn’t understand, tldr: a lider scan of us 7 founders individually and option 1 auctions token1 for 7 days, token2 for 7 days, until we have distributed all 49 tokens. maybe 1 of us all together for token50. and option 2 just auctions each token once a week for 7 weeks.)

cc: @losingmyego @salief

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