TLDR

This proposal deploys a Federation AutoBidder to purchase Nouns at auction for use in future proposals.

The AutoBidder will be funded with 31 ETH, which will allow the community to trial the AutoBidder with minimal risk and acquire 1 Noun for the treasury.

AutoBidder

AutoBidder is a contract for trustlessly bidding on Nouns at auction. It can be configured with settings that define how it can bid: MinBid, MaxBid, Tip, BidWindow, and the recipient of Nouns won.  Once configured, anyone can submit a transaction to force the contract to bid. Calling bid() refunds gas and rewards the caller with a small tip, ensuring the AutoBidder consistently runs.

This Nouns AutoBidder will be deployed with the following settings:

• MinBid: 30 ETH
• MaxBid: 30 ETH
• BidWindow: 24 hours
• Tip: 0.001 ETH (tip is an incentive for anyone to kick off a bid)
• Receiver: 0x0BC3807Ec262cB779b38D65b38158acC3bfedE10 (treasury)
• Contract Balance: 31 ETH

These settings will allow the AutoBidder to place a bid of 30 ETH whenever a new auction starts until funds are exhausted or the contract is paused.

More info can be found on how the AutoBidder works here: Github Repository

Currently used by

Lil Nouns prop #115 deployed v0.1 of AutoBidder for Lil Nouns to extend their acquisition of Nouns.

Wizards followed suit, deploying v0.2 of AutoBidder (which extends v0.1 with support for setting ENS reverse records).

Links to AutoBidders Wizards: Etherscan Link Lil Nouns: Etherscan Link AutoBidder Factory: Etherscan Link

Federation was funded in prop #229

wiz