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Content
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Elad pfp
Elad
@el4d
gm, @davidbr and I are working on the $nouns token, backed by Nouns. 1M $nouns <-> 1 Noun NFT. you're invited to read this short spec doc and reply with your feedback. thanks! https://docs.google.com/document/d/1Uz4l8bAPaA2_gsUVZsZo_1dAmggAiYIn5sYba1IK10Q/edit?usp=sharing
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Sam pfp
Sam
@sams
Love this, and I think the core spec is really solid! When you say that you strongly suggest the DAO shouldn't hold any LP tokens do you also mean it shouldn't seed the pool with the Nouns in its treasury?
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⌐◨-◨ BiGSHOT ⌐◨-◨ pfp
⌐◨-◨ BiGSHOT ⌐◨-◨
@bigshotklim
Will nounish builders be able to sell products and services and accept $nouns as payment? can tipping be implemented for nounish things? so much cool stuff thanks @el4d
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Will Papper pfp
Will Papper
@will
Do you want to provide any soft or hard guarantees that $NOUNS will always be redeemable for a Noun? Most DAOs (besides Nouns DAO) end up wanting to play with many assets, and I could imagine holders wanting to invite other communities in Changes the dynamic if there is non-Noun collateral redeemable in the DAO
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ns - q/dau
@nickysap
So if 1 Noun is pegged at 1M $NOUNS and vice versa, how will volatility impact the underlying value of the NFTs as speculators inevitably come forth? To my understanding, growing/maintaining the effective value of Nouns NFTs is a DAO goal. Also, how much $NOUNS does one need to participate in the DAO?
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anyaa.eth 👒🎩
@annacher
is @noggles a complete different project or are you guys connected?
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ashwyn
@ashwyn
This is amazing. But if someone deposits their Noun, there’s a good chance they may lose it forever since anyone can redeem it right? People with only 1 Noun may never want to exchange it for $nouns in that case. I love the spec though and I’m eagerly awaiting the day I can stack $nouns on my way to a 2nd and 3rd.
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rafa pfp
rafa
@rafa
When I read this, my first impression was “now I can _melt_ a Noun into $nouns” To clarify, the only way to get $Nouns is to deposit a Noun into the contract, therefore supply is still restricted correct? The implication seems to be: 1/n
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supriyo
@supriyo.eth
How would you determine the kickoff price of 1 $nouns ? Is it BV / 1mil . Also, where does the kickoff liquidity or initial liquidity come from for dexes - mostly 3Ps since they would anticipate making fees?
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ccarella
@ccarella.eth
Do all of the $nouns start in the Treasury?
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w-g
@w-g
Think I am against allowing people to mint $nouns with nouns. Esp for v1. Not needed for the primary use-case (reward builders) and will increase unproductive speculation . It also makes % exit much more complicated since treasury nouns will be fungible but others will not
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Luis Carranza Perales
@luisotravez
Are there going to be any other ways to increase the supply of $nouns? I didn't catch if there were any governance incentives for owning $nouns, but maybe I missed it
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w-g pfp
w-g
@w-g
Also can you clarify scope of admin power/role will be?
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Cameron Armstrong
@cameron
Hey Elad, how do we subscribe for like updates/progress on this token?
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mike good ⌐◨-◨
@mikegood
google dox 😅 ...who caught my personal email in there just now? lol
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Brennen ⌐◨-◨  テ Φ 🐻 pfp
Brennen ⌐◨-◨ テ Φ 🐻
@brennen.eth
Choosing an ID should have a cost/premium associated with it, else it grabs the youngest noun. The older the noun the higher the premium to pull that noun. I am super against equalizing the cost of noun IDs. Basically ruins the entire idea of early membership.
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seneca
@seneca
feels good to see this at the top of trending today
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Spencer Perkins
@spencerperkins.eth
Thanks for sharing, very excited for this! A few questions (in thread):
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eguegu
@eguegu
I like this simple spec, 1Noun=1M $nouns! thank you for making the draft. Much better token design than other free mint meme coin😂
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w-g pfp
w-g
@w-g
Also what is legal’s position on issuing passive investment exposure to a project managed by a group of other governors? Think we should see a strong endorsement from council that they consider the erc-20 to not be security-like
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