Nouns party is an effort aimed at making community-driven bidding easier, more interactive, and more likely to win than today's strategies.

See the noun o' clock proposal for more background and inspiration.

Scope

The new nouns.party will include a completely updated design and several innovations which should dramatically simplify group bidding while increasing the odds of success.

This will transition nouns.party from a simple fork to a pool-driven bidding application for nouns. This will require new contracts, a new application, and a new design.

The following functionality will be included labeled by versions. V0 will be guaranteed to launch for the completion of this proposal. V1 items will be built as time permits within the 4-week scope.

• [V0] Party contributions will be deposited in a "vault" style contract which carries forward from one noun auction to the next. These contributions will be withdraw-able at any time outside of an active winning bid. If they are not withdrawn, they will automatically accumulate for the next noun auction.
• [V0] Nouns won through these contributions will be automatically fractionalized for the winners. Contributors can then claim the shares of their winning noun. If multiple nouns are won, they can claim all shares at once.
• [V0] Real-time whale bidding viewer, to help inform the party. The UI will display any pending bids.
  • [V1] We will also show the estimated remaining Ethereum for the top bidder.
• [V0] Manual group bid submission when sufficient Ethereum is gathered.
  • [V1] Auto-bidder mechanism to avoid bidding confusion and democratize gas fees
• [V0] Currently nouns purchased through party bid must pay an upfront 5% Eth fee for each party noun. This fee is used for the ongoing maintenance and development of partybid. We propose the same fee, but instead of a "pre-auction" fee, we will introduce a post-auction fractionalization 2.5% token supply fee awarded to the nouns party multi-sig. This fee will apply to any nouns won through nouns party.
• [V0] Social Cursors with a noun-y style

  • [V1] If cursors become a UI burden, we will explore avenues to remove that burden

  • [V1] We will explore a social platformer-type game

    

Design

We are early on in our design thinking. Below are our inspiration mocks which set the tone for the product. We want the brand to remain heavily aligned with the existing nouns brand while conveying a slightly more playful and communal experience.