Lil Nouns

Lil Nouns is a NFT (Non-fungible token) collection. A collection of digital artwork stored on the blockchain. An expansion DAO based on Nouns DAO, Lil Nouns DAO works to create a new layer within the Nouns ecosystem; Nouns as kids. By expanding the ecosystem, Lil Nouns DAO aims at exposing more people to Nouns.

Nouns DAO

Nouns DAO utilizes a fork of Compound Governance and is the main governing body of the Nouns ecosystem. The Nouns DAO treasury receives 100% of ETH proceeds from daily Noun auctions. Each Noun is an irrevocable member of Nouns DAO and entitled to one vote in all governance matters. Noun votes are non-transferable (if you sell your Noun the vote goes with it) but delegatable, which means you can assign your vote to someone else as long as you own your Noun.

Summary

• Lil Nouns artwork is in the public domain.
• One Lil Noun is born and trustlessly auctioned every 15 minutes, forever.
• 100% of Lil Noun auction proceeds are trustlessly sent to the Lil Nouns treasury.
• Settlement of one auction kicks off the next.
• All Lil Nouns are members of Lil Nouns DAO.
• Lil Nouns DAO is backed by Nouns via Small Grants.
• Lil Nouns DAO uses Nouns DAO’s fork of Compound Governance.
• One Lil Noun is equal to one vote.
• The treasury is controlled exclusively by Lil Nouns via governance.
• Artwork is generative and stored directly on-chain (not IPFS).
• No explicit rules exist for attribute scarcity; all Lil Nouns are equally rare.
• Lil Nounders receive rewards in the form of Lil Nouns (10% of supply for first 5 years).
• Nouns DAO receives rewards in the form of Lil Nouns (10% of supply for first 5 years).

Links

• Lil Nouns
• Nouns DAO
• Compound Governance
• Lil Nouns statistics
• OpenSea

Description of work

The Lil Nouns DAO is controlled via onchain voting by token holders. We want to analyze the voting activities on Lil Nouns proposals using the ethereum database. To do this, we analyze the following sections:

• Analyze wallets that Voting to Lil Nouns proposals
• Analyze Lil Nouns Holders
• Analyze wallets that Voting to Lil Nouns proposals and Lil Nouns Holders

Note:

• We use the [ethereum.core] schema, [fact_event_logs] and [ez_nft_transfers] tables
• Contract address for voting Lil Nouns proposals is 0x5d2C31ce16924C2a71D317e5BbFd5ce387854039 ---> etherscan
• For voting Lil Nouns proposals we use the Cast Vote (function signature is 0x56781388) method and Cast Vote With Reason (function signature is 0x7b3c71d3) method
  • Cast Vote
    • Cast Vote Transaction
  • Cast Vote With Reason
    • Cast Vote With Reason Transaction

1 ---> Analyze wallets that Voting to Lil Nouns proposals

To do this we using [fact_event_logs] table with:

• contract_address = '0x5d2c31ce16924c2a71d317e5bbfd5ce387854039'
• origin_function_signature in ('0x56781388', '0x7b3c71d3')
• tx_status = 'SUCCESS'

According to the results, it is clear that:

• Total number of Voting to Lil Nouns proposals on flipsidecrypto [fact_event_logs] table that recorded is 432
• Total number of distinct wallet that Voting to Lil Nouns proposals is 162
• Wallet address 0x64e9cd118aa8d45c20efeeefd68679372f5e48dc has the most votes with 13 votes (Approximately 3% of the total number of votes)
• Followed by 0x8becd7ebf3f910090f9264dfd0bb221ea04af8c3 with 11 votes (Approximately 2.54% of the total number of votes) and 0x4754b7e3dede42d71d6c92978f25f306176ec7e9 with 10 votes (Approximately 2.31% of the total number of votes)

2 ---> Analyze Lil Nouns Holders

To do this we using [fact_event_logs] table with:

• First we get the latest sales of each NFT than get [nft_address] and [tokenid]
  • [max(block_timestamp)]
• Then we join the result of the first part with [ez_nft_transfers] and get the number of holders of each NFT

According to the results, it is clear that:

• LilNoun Max Total Supply is 2,317 LILNOUN - in (2022-06-21) ---> etherscan
• Wallet Address 0x0bc3807ec262cb779b38d65b38158acc3bfede10 Holds 232 NFT up to 10.01% of all NFTs ---> etherscan
• Wallet Address 0x3cf6a7f06015acad49f76044d3c63d7fe477d945 Holds 212 NFT up to 9.14% of all NFTs
• Wallet Address 0x4754b7e3dede42d71d6c92978f25f306176ec7e9 Holds 92 NFT up to 3.97% of all NFTs
• Approximately 72.04% of wallets holding Lil Nouns hold only 1 NFT - (706 wallet)
• Approximately 14.76% of wallets holding Lil Nouns hold only 2 NFT - (145 wallet)
• Approximately 13.34% of wallets holding Lil Nouns hold 3 or more NFTs - (131 wallet)

Link

3 ---> Analyze wallets that Voting to Lil Nouns proposals and Lil Nouns Holders

According to the results, it is clear that:

• Of the 162 wallets that Voting to Lil Nouns proposals, 153 currently hold at least one NFT - Approximately 94.44% of all addresses voted at least one vote
• Of the 982 wallets that currently hold at least one NFT, 153 have cast at least one vote - Approximately 15.61% of all addresses currently hold at least one NFT
• 77 addresses holds 1 NFT have have at least one vote
  • Approximately 10.9% of those currently holds an NFT have have at least one vote
• 132 addresses that hold 5 or less NFTs have at least one vote
• Approximately 84.07% of addresses that hold a small number of NFTs (assuming we have 5 or less) have at least one vote