One Noun, every day, forever.

nouns.wtf

Nouns

I was initially drawn to Nouns because of its grassroots approach — a group of strangers on the internet coming together to coordinate capital. It felt like Nouns still embodied the magic of what a DAO was originally proposed to be. 

Over the past four years, we've worked with a number of DAOs, many of which have gradually shifted towards more traditional corporate structures, adopting KYC processes, grants committees, working pods, and increased admin overhead. While I dont view these structures as inherently bad, as they off offer a lot of benefits, and regulatory peace of mind. They do risk losing some aspects of decentralization if not managed carefully.

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

I get your point that the fork hasn't YET been used as designed for minority protection. But, that doesn’t mean it won’t be. The proposed DUNA changes are significant and likely controversial (and ironically, propose to remove the fork). This might be one the best use case for the fork so far, potentially leading to the continuation of an independent non-DUNA Nouns DAO.

The real question is how large a minority must be to deserve to be protected (fork threshold).

Having a large fork threshold has caused the divergence between auction prices and book value, and a perceived arbitrage opportunity + arbitrage narrative. If the threshold was 0 (or we just allowed rage quit), auction prices would immediately jump to book value, and there would no longer be perceived arbitrage.

Personally I’m still uncertain about the best direction for the Nouns DAO I would want to see. 

One interesting possibility is a true fork, used as it was intended, allowing the creation of two DAOs:  1. Nouns DAO Classic (DUNA DAO) 2. Nouns DAO 2.0 (A new forked DAO) 

Although this might be unsustainable given the current treasury size and the risk of people walking away, it would be an interesting experiment. As a small voter, we’ll be closely watching how all of this unfolds.

Personally I’m still uncertain about the best direction for the Nouns DAO I would want to see. 

One interesting possibility is a true fork, used as it was intended, allowing the creation of two DAOs:  1. Nouns DAO Classic (DUNA DAO) 2. Nouns DAO 2.0 (A new forked DAO) 

Although this might be unsustainable given the current treasury size and the risk of people walking away, it would be an interesting experiment. As a small voter, we’ll be closely watching how all of this unfolds. 

https://warpcast.com/spencerperkins.eth/0x5c28ec4f