One Noun, every day, forever.

nouns.wtf

Nouns

wondering whether a $NOUNS meme token would do us good 🤔

paging @jacob i feel like you'd have thoughts here

probably involve retroactive airdrop to community members + holders

ive been sitting on this trustless model that would work. 

It would allow you to deposit Nouns into a single $NOUN currency.

1 Noun = X $NOUN.

It works because you can rely on the onchain trailing auction price to allow for seamless redemptions.  Compared to Nounlets or fractionalizing per noun it's all one thing.

This model would work for any NFT collection that had a good onchain price you could rely on for the redemption stage. 

You need this because otherwise you could grief the contract by depositing a Noun, getting 1M Noun and then burning 1, locking it forever. Allowing payment of ETH up to a certain % (probs 5%) helps

Benefits:
+ Nouns now has a currency it can spend and stream in props
+ $NOUNs max supply is bounded to Noun supply
+ $NOUN is always backed by Noun or requisite ETH value
+ Could be used as the currency for Mints, auctions of subDAOs and probably a lot of other things. 
+ Requires no protocol change for the DAO

That would be most easy and lols as a prop that has the DAO deploy a new ERC20 with an airdrop and the ability to add supply whenever.

I like this idea as a utility, way for people to DCA in, reduce unit bias, etc..

But would be cool to have a useless meme token that probably could be a proxy for Nouns consumer interest regardless of auction price