nouns-protocol

has there been any discussions about adding 'permanent bids' to the auctions? I have a price that I'd be willing to pay for a noun, I'd love to be able to bid once & not pay gas every day. and maybe it could be held in something like stETH so that the bid would slowly grow over time?

I feel like standing bids are an interesting design space. With enough bids they could be useful for projecting auction revenue and help guide how much to spend. And long-term standing bids would signal strong nouns interest/alignment, could be used to suggest governance delegates for inactive holders

software engineer, wannabe athlete ↑, co-founder https://noctie.ai 

⌐◨-◨

Crypto, nouns, malleable software, interfaces, running. // working on @agora // https://0xmcg.com // /the-pond

Maybe the price wouldn’t move as much/unpredictably if there were many standing bids so you wouldn’t have to adjust!

Personally I don’t feel like making them private is important right now, could make them ‘bucketed’ (3, 3.05 etc) + FIFO per bucket or use the same min increment as for auction bids?

The auction price has fallen so much lately that I have a hard time deciding how I’d value my own standing bid. Maybe it’s 3 eth, but now we’ve seen a few drop below 3, so my bid should change to reflect that. 

Another hard thing is making perma bids private if it’s on-chain. If I can see your perma bid is 3, I’ll make mine 3.001 so I always beat you by a small amount. Maybe this argument falls flat though bc it’s not like most people are buying up many nouns and want to consistently beat the bid by a small amount.

Def a cool idea though. I like the idea of stETH growing the bid or even gaining interest that goes back to treasury