Submit proposals to funding rounds. Each round has a specified ETH amount, and the community votes on who wins.
In Prop House, creators submit their ideas as bids to win auctions of ETH. Each funding round will specify the number of winners at a specific ETH amount. Anyone can submit their idea as a proposal. After the round is closed, community members vote on their favorite proposals to get funded.
Some examples of funding rounds:
- 3 winners of 3Ξ
- 2 winners of 5Ξ
- 5 winners of 2Ξ
- 1 winner of 10Ξ
Let’s take Nouns Launchpad, the original auction house, as an example. When a new funding round is open you can connect your wallet and submit a proposal. You’ll outline your idea’s Who, What, and Why. After a week of submissions there will be a week of voting from community members (Noun holders and Nouns extension project holders). Then winners will be announced and ETH will be distributed, all up front.
Separate community prop “houses” have spun up in an attempt to decentralize the applicant pool and scale the amount of proposals receiving funding. This alternative mechanism to deploy capital will allow builders to plug into their community’s treasury and ensure that the most amount of high-quality proposals rise to the top and have a chance to succeed. Learn more about community houses.