Nouns

One Noun, every day, forever.

nouns.wtf

Path to making $nouns useful and scalable:
1. Get it audited
2. Exclude $nouns’ Noun balance from totalAdjustedSupply (NounsDAOFork lib upgrade +  NounsDAOLogicV4 upgrade to consume new lib)
3. Deposit some treasury Nouns (top N ID’s)
4. LP some of the $nouns, and distribute others as builder rewards

Benefits:
* $nouns won’t break governance quorum
* More LP means less slippage, making it more feasible to use $nouns as a medium of exchange within the Noun ecosystem
* Fractional treasury Noun distribution for builders rather then giving full Noun’s, which are mostly not being used (and themselves, hurting quorum)

Prop 536 failed largely due to regulatory uncertainty and liability, but DUNA might solve this?

Thoughts?

cc @noun40 @el4d @davidbr

imo the design and incentives of $nouns are fundamentally and irredeemably broken

even blacklisting them from the quorum count, the token only serves to create bag holders

if esports asks for another 3 Nouns to liquidate and giveaway, it’s highly unlikely 3 people end up with 1m $nouns each, much more likely they’re spread across a bunch of people

what’s their incentive to hold, to participate with Nouns beyond surface level grift for the sake of more tokens?

there’s no use case for this token other than to sell it for harder forms of money or roll into your next shitcoin play. if incentives to hold existed, that transaction history wouldn’t be bloody red from all the sells

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If we offer exclusive product only available through $nouns the market for our product shrinks dramatically too. how do we solve for this?

Building Nounworks.wtf at BIGSHOT.WTF and  @bigshottoyworks on socials

not there is a solve tbh

personally skeptical that a pseudo-money will be allowable under the DUNA, it’s a nonprofit association regardless of 501c3

even if it is, does anyone actually want to accept and spend Zimbabwe-esque fake money? if they do, are businesses  ready and willing to deal with the accounting and tax issues of converting it into fiat?

i think Ben Latsko has some good ideas re: access pass/ ticketing for events, not so sure about using it as money though

what most don’t see, is that an ERC20 token can serve as a loyalty and engagement token/points. isolate it from from offramping, but design purpose lead earn/burn mechanics

⌐///-/// 

🫐

[ nounstown.wtf ]
[ butter.wtf ]
[ /goodbutter ]
[ benjaminlatsko.com ]

i’m 100% down with an idea like this

unfortunately we’ve got an unupgradeable contract on the current token that makes it impossible to do this with it

every community should have their own token. Like subreddits. They can be interchangeable and derive from eachother, but no off-ramp. Only on-ramp, earn, burn