Nouns

One Noun, every day, forever.

nouns.wtf

Imo we limit ourselves if we make it too formulaic to a Noun. Should be like quantitative easing: we need power to mint! 😀

One version is 1000 $nouns are auctioned everyday

there’s two paths floated for $nouns:

1. allow ppl to convert nouns to $nouns at a fixed ratio (eg 1 noun = 1,000,000 $nouns)

2. issue a separate token supply that the dao manages / sells.

i lean #1 b/c i don’t like the idea of managing two token supplies… but @wilsoncusack thinks #1 is limiting.

thoughts?

Founder @ /atrium  (atrium.art) . Making nouns.movie ⌐◨-◨

#1 still allows someone to just buy $nouns from a uniswap pool (like any other erc20 token). it's just that the introduction of *new* erc20 supply has to come from the nfts being locked up

personally, i think acquiring $nouns independent of redemption against an NFT, might be important for a wider funnel. Else $noun distribution ends up similar or a subset of current Nouns NFT holders which likely is limiting. I am in same camp as Wilson 🤔

in relation to the $nouns discussion i think about this cast a lot.

imo we don't really need to launch a *new* memecoin (new token supply). nouns is already the memecoin we need with just a super long time horizon. what we need is it to have an erc20 API endpoint (canonical conversion; eg 1 noun = 1,000,000 $nouns)

yes! related to the time horizon point: https://warpcast.com/noun40/0x35f628ee

I'm not really dogmatic here. I think the wisdom of meme coins is they are very left curve. Any complexity hurts that. 

But meme coins are also short lived. So if we want something more useful in the long, maybe better to give it some real utility to start.

we should aim to keep it as simple as possible. #1 builds atop of “one noun every day forever” .. you actually need no additional explanation since the core mechanic stays the same. a new token would add an entirely new dimension.

'do what the meme wants'

this line of thought is a bit nonsensical and idk if i can always stand behind it, but it _can_ function as an arbiter when needed

so whatever feels more natural, native, expansive for the nouns meme could be the way to go?

bringing the makers together 

/nouns /vrbs

if allowing ppl to buy $nouns is the concern, #1 definitely encompasses that. the dao could mint $nouns via treasury nouns and LP paired with eth to provide liquidity. overtime liquidity will emerge anyhow. being able to buy will not be an issue

Here’s an idea:

Allow converting of 1 Noun to $nouns, and issue the rest on a continuous VRGDA

The VRGDA lets us target an issuance over time eg: 1000 $nouns sold every day, and blows open a world of opportunity for people to build on top of Nouns and earn $nouns vs having some centralized way to issue tokens

yeah at the theoretical limit definitely the same thing. more so the distinction is whether the social understanding is that arbitrary minting of new $nouns supply will be considered normal course of action or not. like the one noun a day is a meme but one we kept for years and tying to that would be a real constraint.

These are sort of the same thing. Technically the DAO can arbitrarily mint new nouns and convert to $nouns to manage the supply.

you can have both. 

Do 1, but allow the DAO to issue more if it wants to.

One noun a day that can be fractionalized into 1000 $nouns is the best of both worlds isn't it? Keeps it all under one roof and you could also potentially redeem 1000 $nouns for a pool noun if you so desire. Allows people to basically dca into a noun but also play with the underlying fungible.

would it get merged with $nogs, or would it be a seperate token?