Nouns Governance Participation

    Introduction and methods

    Lil Nouns is basically a smaller version of the Nouns NFTs from which it was derived. "Nouns as children", as it says on the Lil Nouns website. That is, they have the same pixel art style and aesthetic as Nouns.

    In essence, these NFTs will be the source of funding for Lil Nouns DAO: a DAO expansion based on Nouns DAO. Therefore, the goal of Lil Nouns DAO is to expose more people to Nouns.

    One of the most unique things about these NFTs is how they are available. . To explain, instead of releasing an entire collection at once like most generative avatar collections, Lil Nouns smart contracts generate and auction a new one every 15 minutes. Not to mention that this process will, in theory, continue indefinitely. Clearly, this is a riff on Nouns, whose contracts produce and auction an NFT every 24 hours.

    In addition to its fascinating release mechanism, Lil Nouns has some other features that NFT purists will love. For example, Lil Nouns NFT art is stored directly on the blockchain, unlike IFPS. Also, the art is CC0 licensed, which means it is in the public domain.

    In this dashboard we are gonna analyze the governance participation of Nouns. To do that, we are gonna focus our mind on the on-chain voting for NounsDAO. The idea is to find which proposals have had the most engagement, relative to the number of tokens minted.

    Results

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    Regarding the most important proposals in terms of minting engagement, we can see that taking a look at the donut, there are 4 main proposals that attracted the most number of mints. The leader have been the Proposal ID 2 with more than 660 mints, followed by three other Proposal IDs (3,4,5) attracting 575 mints. These proposals attracted the same number of mints due to they have launched at the same period of time.

    As it can be seen, these top proposals refers to the earlier proposals, and then, it seems like the current proposals are not attracting as much mints as previous proposals and it could be a problem for the evolution of the project.

    Looking at the second chart, we can see the evolution of proposals by their debut date and the approximate number of mints attracted. It is clear that there was more proposals during the first period of time and as well, the major amount of mints are done over the first proposals.

    Key insights

    In this dashboard we have analyzed the Nouns governance of the Lil Nouns NFT collection on Ethereum platform. We have analyzed the amount of token id mints by each proposal ID generated by the governance. The main insights extracted from the analysis have been the following:

    • There have been 4 main proposals that attracted the most number of mints. Proposals ID 2,3,4,5.
    • The top proposals refers to the earlier proposals, and then, it seems like the current proposals are not attracting as much mints as previous proposals and it could be a problem for the evolution of the project.
    • The amount of proposals decreased over time.
    • The major amount of mints are done over the first proposals.