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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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Spencer Perkins
@spencerperkins.eth
Thanks for sharing, very excited for this! A few questions (in thread):
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Spencer Perkins
@spencerperkins.eth
1. For adjusted total supply, curious why not adjust by the number of Nouns held by the $nouns contract rather than the equivalent portion held by the treasury? The proposed method will make it harder for props to pass if a large number of Nouns are in the $nouns contract.
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Spencer Perkins
@spencerperkins.eth
2. While $nouns will be great to help bring people into Nouns, it also add an easy exit route for Noun owners (easier than a fork, or selling). Will there be a supply cap on $nouns or any kind of deposit rate limit to try to prevent a mass exit event?
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Spencer Perkins
@spencerperkins.eth
3. Curious about community sentiment on fungibility. NounSwap was rejected in a large part because it “made Nouns fungible”. $nouns does this to to an extreme, and NounSwap could be built directly on-top of $nouns. Is there support for $nouns from folks whom opposed NounSwap due to fungibility concerns?
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Michael Gingras (lilfrog)
@frog
These are all extremely good questions. I think having an instant exit opportunity by way of melting your noun is bad for the DAO. One good thing is you can’t exit for proportional amount of treasury, only what others are willing to pay via pool, which is probably less than % of treasury
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Noun 40
@noun40
in any success case of nouns there would be enough liquidity in the secondary (opensea, blur, etc) that you can always sell your nouns at a price pretty close to the "floor price". this pool will somewhat accelerate that future but don't think liquidity is a bad thing (ppl still own punks even tho they can always sell)
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