Nouns DAO to donate $123,000 to on-chain sleuth ZachXBT

Quick Take

  • Nouns DAO voted to donate 100 ETH ($123,000) to ZachXBT to support their investigations.
  • The ZachXBT account has revealed several fraudulent crypto activities, especially in the NFT space.

The Nouns DAO community voted to donate 100 ETH ($123,000) to crypto on-chain sleuth ZachXBT as a retroactive reward for their efforts exposing cryptocurrency scammers.

Thursday’s vote was based on a proposal submitted to the DAO’s governance forum. It ended with 90% approval from participants, according to data from the voting page.

The governance proposal that spurred the vote called ZachXBT, who runs a pseudonymous Twitter account with 335,000 followers, a “public good.” It described ZachXBT as working tirelessly to research and expose scams in the crypto space. The account has revealed several fraudulent crypto activities, especially in the NFT space.

Nouns is an NFT project that sells a profile picture every 24 hours. Proceeds of these auctions are deposited in the Nouns DAO treasury, with decisions on spending governed by Noun owners. 

Nouns DAO treasury

The donation will be made to the zachxbt.eth crypto address from the Nouns DAO treasury, which currently holds 29,124 ETH denominated almost entirely in ether and staked ether. The Nouns DAO treasury draws funds from Noun NFT auctions and the community is able to vote on grants that the funds can be used to support.

The 100 ETH donation has not been made as of the time of publishing.

Responding to the gesture, ZachXBT expressed gratitude in a reply to a post by the DAO. The on-chain sleuth said the funds may remain unspent if the bear market lasts for a long time or be used to hire an intern.

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