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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.
Lil Nouns DAO utilizes Nouns DAO's fork of Compound Governance and is the main governing body of the Lil Nouns ecosystem. The Lil Nouns DAO treasury receives 100% of ETH proceeds from daily Lil Noun auctions. Each Lil Noun is an irrevocable member of Lil Nouns DAO and entitled to one vote in all governance matters. Lil Noun votes are non-transferable (if you sell your Lil Noun the vote goes with it) but delegatable, which means you can assign your vote to someone else as long as you own your Lil Noun.
In other words, Lil Nouns holders get almost complete control of the Lil Nouns DAO. The only caveat to this is that the builders behind Lil Nouns, @0xsvg and @adelidusiam, built in a special veto right.
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.
Objective
Q2. 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.
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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. Feel free to include any other relevant trends you may find. Please use the core schema within the Ethereum database for this analysis.
Analysis
The total number of NFTs minted and sent to the Nouns treasury are 294. After every 10 NFTs are minted, the 11th (Lil Noun ids #1, #11, #21, #31 and so on) are sent to the treasury. We find these tokens by using the function mod(tokenId,10) = 1.
To calculate the average amount of eth sent to Nouns treasury by Lil nouns, we first find the average sale price of lil nouns on opensea. The average price turns out to be 0.86 ETH.
The aveage amount of ETH sent is 224.3 ETH.
We notice that the ETH sent to the treasury was considerably higher in the inital days compared to the last few weeks.
This could be because of the falling interest in NFT market as a whole as well as the market volatility and the fear of imminent bear market.