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Michael Gingras (lilfrog)
@frog
Is it possible (within legal bounds of DUNA) to fully eliminate refund? Imo, the fork was designed for minority protection, not for RQ or refund. If we have to eliminate fork for legal reasons related to DUNA, it doesn't make sense to me that it's replaced with a refund mechanism. The point of fork was never for refunds (although that's what it turned out to be used for...) The DAO is better off without refunds.
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Michael Gingras (lilfrog)
@frog
I have some criticisms of the proposed refund mechanism mainly around how streaming auction proceeds over years means the dao is significantly capped in it's ability to deploy the treasury. I like how past nouns do not get access to this refund mechanism so there is no way to arb anymore. But, my opinion is that we don't need a refund at all. If you buy a noun, you buy a noun. No refunds, no returns. All sales final. Try your luck on secondary if you want to get rid of it.
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Elad
@el4d
we can decided to have no refund at all. we are suggesting this because we believe this does provide useful minority protection.
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Michael Gingras (lilfrog)
@frog
good to know it's possible. so far, I don't think we've seen any true effort of a minority using the fork for protection. My opinion is that the benefits of minority protection do not outweigh the costs of enabling an easy refund. not for me alone to decide of course, but I think we'd be better off without it. Thanks for the spec and sharing thoughts though, it's cool and useful regardless of my opinions on if its in the dao best interest
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Sasquatch テ
@sasquatch
strong preference for no refund as well. buyer beware, we like to fund weird things
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Elad
@el4d
thank you! we are sharing exactly so that people will discuss. hoping to see more discussions!
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wylin💎↑
@wylin
this is a tricky one for me. i don’t think we should operate under the assumption that auction prices will remain where they are, so the refund mechanism isn’t inherently hamstringing the DAO it’s not totally fair to say minority protection hasn’t been used for the fork, the second fork was very much the result of the Burn proposal and ideological disagreement with the future of the DAO. quite a few people in fork 0 were there for that reason, obviously arbing became a big part of it all that said, 4 years is a long time. 365 days seems more than adequate for a new buyer to decide if they want to remain a member of the DAO
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