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Nouns DAO will donate 100 ETH ($123,000) to ZachXBT to fund his investigative journalism, according to a Dec. 8 tweet.
Nouns will donate 100 ETH ($123,000) to @zachxbt to fund their investigative journalism.
Prop #177 from @noun40__ passed: 180 for, 20 against. pic.twitter.com/7PmlaD2rXE
— House of Nouns ⌐◨-◨ (@houseofnouns) December 8, 2022
According to the proposal, ZachXBT carries out good public services through tireless research that exposes crypto scams. It added that recent events in the crypto space had highlighted the importance of the work being done by the on-chain sleuth.
The donation was proposed by Bitwise’s cofounder and chief technical officer, Hong Kim (known as Noun 40 on Twitter), and was passed by an overwhelming majority.
Speaking on the motive behind the proposal, Noun 40 wrote:
“(Nouns DAO) should instead aim to actively contribute and be a net producer of public goods ourselves such that our meme (brand) can fully capture the provenance value (claim on originality of) the public work and thus leverage the virtuous cycle to do more than what capital alone could have done.”
Meanwhile, ZachXBT has also expressed his appreciation for the donation.
Previously, Nouns DAO donated 169 ETH to Gitcoin grants in January and 500 ETH to Ethereum protocol development (via the Protocol Guild) in July.
ZachXBT is an on-chain crypto investigator that has revealed several scams in the crypto space. His investigations have aided law enforcement agencies in France in identifying and arresting members of an NFT scam group that stole $2.5 million worth of digital assets.
Nouns DAO is the main governing body of the Nouns ecosystem. According to its website, Nouns attempt to bootstrap identity, community, governance, and a treasury that the community can use. The ecosystem auctions one Noun NFT every 24 hours.