What are the Lil Nouns NFTs

As is obvious from the name, Lil Nouns are basically a smaller, version of the Nouns NFTs they spun off from. “Nouns as kids” as it says on the Lil Nouns website. That is to say that they sport the same pixel art style and aesthetic as the Nouns.

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

One of the most unique things about these NFTs is how they become available. To explain, rather than dropping a full collection at once like most generative avatar collections, the 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 the Nouns, whose contracts produce and auction an NFT every 24 hours.

The DAO at the heart of the project

According to the Nouns team, the Lil Nouns NFT collection is the funding source to build the Lil Noun DAO. a Noun-based DAO expansion. In a way, Lil Nouns will help the brand boost its sales and popularity of Nouns.

Lil Nouns DAO works the same way as any other DAO. Each Lil Noun means the individual has one vote in DAO. The voters are allowed to delegate their vote by choice, so they have full authority to operate the DAO.

For every Lil Noun sold, 100% of the earnings go to the Lil Nouns DAO treasury, completely controlled by Lil Noun NFT owners.

Lil Nouns DAO bases its system on having a veto right by the founders 0xsvg and adelidusiam which means these two have authoritative rights but it is only to protect the NFT project from malicious attacks. This veto right will remain until Lil Nouns’ supply increases and there are enough users to vote on DAO.

source: nftevening.com

For more information about Lil Nouns and how it works, visit Lil Nouns WIKI

Description of work

The Lil Nouns DAO was created as a sub-DAO from Nouns DAO. The Lil Nouns DAO compensates Nouns DAO by automatically sending every 11th Lil Noun (Lil Noun ids #1, #11, #21, #31, and so on) to the Nouns DAO Treasury. 

In this work, we want to Estimate the total value of the Lil Nouns in the Nouns DAO treasury and analyze the value of the Lil Nouns DAO to Nouns DAO.

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Note:

• Nouns DAO treasury contract address: ‍0x0BC3807Ec262cB779b38D65b38158acC3bfedE10 view on etherscan
• Lil Nouns DAO contact address: 0xd5f279ff9eb21c6d40c8f345a66f2751c4eea1fb view on etherscan
• Lil Noun NFT contract address: 0x9C8fF314C9Bc7F6e59A9d9225Fb22946427eDC03 view on etherscan

1 - Estimate the total value of the Lil Nouns in the Nouns DAO treasury

To answer this section:

1. To find the balance of Lil Noun in Nouns DAO treasury, we consider all transactions from Lil Nouns DAO to Nouns DAO treasury as Lil Noun assets for Nouns DAO treasury.

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2. To find the value of Lil Noun in Nouns DAO treasury, we multiply the price of the last traded Lil Noun by the number of Lil Nouns in Nouns DAO treasury.