The daily auction is the heartbeat of Nouns, and right now, it’s basically stopped. We’ve gone over two weeks without a single sale, which means the whole "one Noun every day" thing is currently on pause. While the reserve price was meant to protect the value of the DAO, the reality is that a high floor doesn't matter if nobody is buying. We aren't even breaking even at this point because zero sales means zero revenue for the treasury.
Beyond the financials, we’re losing our momentum. The protocol is built on the idea that every 24 hours, someone new is given the opportunity to join the club and help us grow. When auctions don't clear, that growth just stalls out. We need to get back to basics and let the market decide what a Noun is worth instead of trying to force a price that isn't working.
The plan is simple: let’s put the auction reserve back to 0 ETH.
This guarantees that a Noun actually settles every day. It keeps the treasury moving...because some ETH is always better than no ETH...and it opens the door back up for builders and new members who want to get involved but are currently sidelined. Let’s just turn the lights back on and get the auctions moving again.