Nouns are an experimental attempt to improve the formation of on-chain avatar communities. Nouns DAO utilizes a fork of Compound Governance and is the main governing body of the Nouns ecosystem. Nouns DAO lets Nouns NFT holders participate in governance. Each Nouns NFT equals one vote. Holders can vote directly or delegate their votes. Proposals require ownership of at least two Nouns NFTs. New Nouns are minted daily, diluting individual voting power and encouraging active participation. The tokenomics of Nouns DAO are centered around a auction mechanism and a decentralized governance model. Every day, one Noun NFT is minted and auctioned off, with all proceeds going directly into the Nouns DAO treasury. The initial funding mechanism leverages the sale of these Noun NFTs to build a substantial treasury, which has grown significantly over time.
Sky Strife is a fully on-chain real-time strategy game, offering a unique and immersive multiplayer online battle arena experience focused on strategic gameplay and character customization. Developed by Lattice and funded by grants from organizations like the 0xPARC Foundation and the Optimism Foundation, Sky Strife uses orbs as its sole resource. Orbs, an ERC-20 token, are used to create matches. Initially, 100 million orbs were minted into the Sky Pool, with no additional orbs to be created. Creating matches costs 100 orbs and rewards players based on their rank and recent match activity. Sky Strife has not yet established a formal governance process.
Gyroscope is developing GYD, a decentralized, noncustodial stablecoin fully backed by diversified assets in smart contracts. Governed on-chain by the Gyroscope DAO, the community can propose and vote on changes. The stablecoin maintains a 100% reserve ratio with 1 USD worth of collateral per GYD. Gyroscope raised $4.5 million in seed funding, co-led by Placeholder VC and Galaxy Ventures.
Polynomial Trade is an on-chain derivatives platform with a focus on perpetual futures, enhanced by the security of the Synthetix protocol and the Optimism Network. Its distinctive approach using polynomial functions for price prediction allows traders to make more dynamic market decisions. Although currently without a governance structure or a live token, the potential introduction of a token could benefit the platform by incentivizing user engagement and capturing value. Polynomial has raised two successful funding rounds, raising $1.10 million in a Pre-Seed round and securing further investment in a Seed round, with backing from several notable investors and capital firms.
