AI Generated artwork is in the public domain.
One ArtCoders-NFT is auctioned every 24 hours, forever.
100% of auction proceeds are trustlessly sent to the treasury.
Settlement of one auction kicks off the next.
All ArtCoders-NFT are members of DAO.
ArtCoders-NFT DAO uses a fork of Compound Governance.
One ArtCoders-NFT is equal to one vote.
The treasury is controlled exclusively by ArtCoders-NFT via governance.
Artwork is generative and stored directly(IPFS).
No explicit rules exist for attribute scarcity; all ArtCoders-NFT are equally rare.
ArtCoders receive rewards in the form of ArtCoders-NFT(10% of supply for first 5 years).
The ArtCoders Auction Contract will act as a self-sufficient generation and distribution mechanism, auctioning one ArtCoders-NFT every 24 hours, forever. 100% of auction proceeds (Matic) are automatically deposited in the DAO treasury, where they are governed by ArtCoders owners.
Each time an auction is settled, the settlement transaction will also cause a new ArtCoders-NFT to be minted and a new 24 hour auction to begin.
While settlement is most heavily incentivized for the winning bidder, it can be triggered by anyone, allowing the system to trustlessly auction ArtCoders-NFT as long as MAtic is operational and there are interested bidders.
ArtCoders-NFT DAO utilizes a fork of Compound Governance and is the main governing body of the ArtCoders-NFT ecosystem. The ArtCoders-NFT DAO treasury receives 100% of MATIC proceeds from daily auctions. Each ArtCoders-NFT is an irrevocable member of ArtCoders-NFT DAO and entitled to one vote in all governance matters. ArtCoders votes are non-transferable (if you sell your ArtCoders-NFT the vote goes with it) but delegatable, which means you can assign your vote to someone else as long as you own your ArtCoders-NFT.
Governance ‘Slow Start’
In addition to the precautions taken by Compound Governance, ArtCoders have given themselves a special veto right to ensure that no malicious proposals can be passed while the ArtCoders-NFT supply is low. This veto right will only be used if an obviously harmful governance proposal has been passed, and is intended as a last resort.
ArtCoders will provably revoke this veto right when they deem it safe to do so. This decision will be based on a healthy ArtCoders-NFT distribution and a community that is engaged in the governance process.
ArtCoders-NFT are generated randomly based Polygon block hashes. There are no 'if' statements or other rules governing ArtCoders-NFT trait scarcity, which makes all ArtCoders-NFT equally rare. As of this writing, ArtCoders-NFT are made up of:
You can experiment with off-chain ArtCoders-NFT generation at the Playground Coming Soon!.
ArtCoders-NFT Seeder Contract
The ArtCoders-NFT Seeder contract is used to determine ArtCoders-NFT traits during the minting process. The seeder contract can be replaced to allow for future trait generation algorithm upgrades. Additionally, it can be locked by the ArtCoders DAO to prevent any future updates. Currently, ArtCoders-NFT traits are determined using pseudo-random number generation: By AI Generated Code.
Trait generation is truly random. Traits can't be predicted when minting a ArtCoders-NFT on the pending block.
'ArtCoders' are the group of ten builders that initiated ArtCoders-NFT.
Because 100% of ArtCoders-NFT auction proceeds are sent to ArtCoders-NFT DAO, ArtCoders have chosen to compensate themselves with ArtCoders-NFT. Every 10th Noun for the first 5 years of the project (ArtCoders-NFT ids #0, #10, #20, #30 and so on) will be automatically sent to the ArtCoders multisig to be vested and shared among the founding members of the project.
ArtCoders distributions don't interfere with the cadence of 24 hour auctions. Nouns are sent directly to the ArtCoders-NFT Multisig, and auctions continue on schedule with the next available ArtCoders-NFT ID.