CA: 0x48C6740BcF807d6C47C864FaEEA15Ed4dA3910Ab on Base
First and foremost, happy $SPACE launch day to you all! 🚀
We want to thank each of you that has supported nounspace over the past 6 months of our journey. We’ve gone from an idea that started as a joke, to a proposal funded by Nouns DAO, to a live app with the potential to onchain the masses. It’s been an amazing start to the long voyage ahead, and none of this would have been possible without each of the following pillars in the nounspace community:
The Capital Providers that contribute their stETH to the $SPACE liquidity pools (launched today).
The Developers that build Fidgets or contribute open-source code.
The Users that have minted nounspace OG NFTs (nOGs), customized their space, or participated in the fair launch.
And beginning today, nounspace DAO, the community treasury governed by $SPACE holders.
Each of these instrumental pillars have been allocated 20% of the $SPACE token supply, which continuously unlocks at a decreasing rate over the 11 year curve that began on June 14th, 2024 and ends on June 11, 2035 when the Max Supply of 1.1 Billion is reached. While the emission curve is not subject to change, the nounspace DAO is empowered to autonomously update the allocation of $SPACE emissions from this point on.
From now on, the team that has developed nounspace will be known as the Based Space Foundation, an independent organization dedicated to supporting the open source development, growth, and decentralization of nounspace. The Based Space Foundation is allocated the remaining 20% of $SPACE emissions. The Foundation’s supply unlocks at the same rate as each pillar. However, we intentionally designed nounspace to be independent and empowered to evolve in any direction the community chooses, with or without the Foundation.
Airdrop(s)
Capital Providers, Users, and Developers that have supported nounspace can claim $SPACE directly from space.nounspace.com starting at 1:11pm UTC on September 12th. If you haven’t qualified yet, there’s still hope! The next airdrop, Space Drop 1, will occur in October, and you can start qualifying now by minting nOGs or preparing for the upcoming launch of $SPACE Tips on September 19th. Both airdrops will be streamed to recipients over the course of 30 days.
Allocation for Drop 0
2M $SPACE: nOGs Holders (proportional to time held from May 15 to September 10th)
2M $SPACE: Users that customized their space by September 10th
2M $SPACE: Users that participated in the fair launch, proportional to yield contributed
26,000 $SPACE: Participants in nounspace’s Drop 0 coinvise campaign
Allocation for Drop 1 in October
1M $SPACE: nOGs Holders (proportional to time held beginning September 11th)
1.7M $SPACE: $SPACE tip allowances, allocated to nOGs holders that hold at least 11,111 $SPACE
TBA $SPACE: Participants in nounspace’s Drop 1 Coinvise campaigns (TBA)
Protocol-Owned Liquidity
The yield contributed by Capital Providers is used to purchase $SPACE and provide liquidity to $SPACE pools on decentralized exchanges such as Aerodrome and Uniswap on Base. This liquidity is owned by the nounspace DAO, and can be managed via governance.
You can earn $SPACE by depositing stETH on space.nounspace.com.
After 7 days, you can withdraw 100% of your deposit.
Governance
The nounspace DAO is governed by $SPACE token holders via the process defined in the nounspace Governance Process. Any address with at least 20,000 $SPACE tokens held or staked on Base can submit proposals. Addresses receive 1 vote for each $SPACE token they hold or stake on Base. nounspace DAO is powered by a state-of-the-art stack composed of SnapShot for gasless (free) voting, Safes for treasury management, and oSnap for empowering the community to autonomously and automatically execute transactions via governance.
Resources
Utility
$SPACE Tips: Beginning September 19th, if you hold the nOGs NFT as well as at least 11,111 $SPACE you will receive a daily $SPACE tip allowance that you can use to tip other Farcaster users by commenting on their post with "# $SPACE" where # is the amount of $SPACE you'd like to tip. Future iterations may take into account the total amount of $SPACE held or staked and not require holding nOGs.
$SPACE Rank: Soon, a new variable will be added to the feed sorting algorithm(s) on nounspace that will consider the amount of $SPACE held or staked by each Caster. The greater the amount of $SPACE held or staked relative to other casts, the higher a cast will rank in the feed.
These are just the first 2 utilities that the Based Space Foundation plans to implement. If you have another idea for increasing $SPACE utility, you can propose it!
Closing Thoughts
It’s been a pleasure serving as CEO of nounspace over the past 6 months. I couldn’t have asked for a better team, community, or opportunity. While my entire being remains wholly committed to nounspace’s success, this is exactly why I must step down as CEO and hand the reigns over to you, the community of rightful owners. nounspace now belongs to all of you, as the future of social should.
We finally have the tools. Now we just need to coordinate.
While I’ll cherish my memories as CEO forever, I look forward to continuing to contribute to both the Based Space Foundation as well as the nounspace DAO as an active community member.
Your friend forever,
Tom
Former CEO of nounspace
