noun DAO will Donate 100 ETH ($123,000) to ZachXBT To fund his investigative journalism, according to a Dec. 8 tweet.
Noun donates 100 ETH ($123,000) @zachxbt to fund their investigative journalism.
— House of Nouns ⌐◨-◨ (@houseofnouns) December 8, 2022
According to the proposal, ZachXBT performs excellent public service through its tireless research into exposing cryptocurrency fraud. He added that recent events in the crypto space underscore the importance of the work being done by on-chain detectives.
The donation was proposed by Bitwise co-founder and CTO Hong Kim (known as Noun 40 on Twitter) and passed overwhelmingly.
Talking about the motivation behind the proposal, Noun 40 wrote:
“(Nouns DAO) instead actively contributes and promotes public awareness so that our memes (brands) can fully capture the provenance value (claims about originality) of public works. We should aim to be a net producer of goods, more than we could have done with capital alone.”
Meanwhile, ZachXBT also thanked the donation.
Previously, Nouns DAO donated 169 ETH to Gitcoin grants in January and 500 ETH to Ethereum protocol development (via Protocol Guild) in July.
ZachXBT is an on-chain crypto investigator who has uncovered several scams in the crypto space. His investigation helped French law enforcement identify and arrest members of his NFT fraud group who stole $2.5 million worth of his digital assets.
Nouns DAO is the main governing body of the Nouns ecosystem.according to it website, the noun seeks to bootstrap identity, community, governance, and treasury that the community can use. The ecosystem will auction one Noun NFT every 24 hours.