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https://opensea.io/collection/nouns
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Noun 40 pfp
Noun 40
@noun40
emphasizing that there’s nothing to ape into. $nouns is just nouns nfts in a fungible wrapper. not a new token with its own independent token supply that can 100x tmrw. ppl will deposit more nouns to meet demand and $nouns will trade in line with nouns
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Nounish Prof ⌐◧-◧🎩 pfp
Nounish Prof ⌐◧-◧🎩
@nounishprof
The mechanics are different but this is really the same as $nogs since it was not launched by prop. I won’t be depositing my noun. But have fun all.
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Noun 40 pfp
Noun 40
@noun40
absolutely not! a nouns backed fungible token is very different from a entirely independent token supply
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Nounish Prof ⌐◧-◧🎩 pfp
Nounish Prof ⌐◧-◧🎩
@nounishprof
And this IS an independent token not backed by the DAO. Each noun has $nogs vested also and that erc20 is released with activity. Plus you earn for Lils, Gnars, yellow. Better approach imo. I don’t have to deposit any tokens.
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Noun 40 pfp
Noun 40
@noun40
yes and it’s totally fair for you to say that you like it better! but not fair imo to say that $nouns is basically the same thing as $nogs. the two are as different as is nouns to $nogs
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Nounish Prof ⌐◧-◧🎩 pfp
Nounish Prof ⌐◧-◧🎩
@nounishprof
I literally see no difference except mechanics—two tokens giving erc20 for holding nouns. And I just don’t think $nouns adds value to the overall narrative of nouns. I could be wrong and if I miss “generational wealth” in the process so be it. Won’t be the first or last time I’m sure lol
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Noun 40 pfp
Noun 40
@noun40
it’s not about general wealth! it’s not it’s own memecoin. $nogs is that. it’s an entirely separately managed separate token with its own price. $nouns is simply nouns divided into smaller fungible pieces. same economic exposure as buying nouns
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Nounish Prof ⌐◧-◧🎩 pfp
Nounish Prof ⌐◧-◧🎩
@nounishprof
Except there’s no mechanism to buy nouns with those $nouns correct? In order for that to happen (example buy from treasury) wouldn’t there need to be a prop? So right now in this moment they are the same. Or can I buy the ones that have been deposited? And if so, why would I deposit my beloved pipe?
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Noun 40 pfp
Noun 40
@noun40
you shouldn’t deposit! i would never deposit my noun 40 bc i have an emotional relationship beyond what the market would ever price it as. but unlike $nogs, $nouns does actually entitle you to an actual noun. if you accumulate 1M $nouns you can redeem any noun you like from the ones that have been deposited
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Nounish Prof ⌐◧-◧🎩 pfp
Nounish Prof ⌐◧-◧🎩
@nounishprof
Ok then I’m correct in that assumption. So is the only value as a way to distribute treasury nouns? And aren’t there better ways to approach that to ensure they don’t end up in arber hands?
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Noun 40 pfp
Noun 40
@noun40
no the value is that there is now a fungible token that has a direct tie in its price and supply with nouns you couldn’t save up to a noun with $nogs in an explicit way. but with $nouns bc that direct tie exists if you save up to 1M $nouns you are guaranteed to afford a noun
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Nounish Prof ⌐◧-◧🎩 pfp
Nounish Prof ⌐◧-◧🎩
@nounishprof
But if $nogs finds footing I can sell into eth & buy a noun & many were earned from Nounish activities. It would have made more sense imo to work with $nogs on other implementations rather than split attention. And aren’t I just getting $nouns in the eth equivalent on auction? So just save up the eth
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Noun 40 pfp
Noun 40
@noun40
no you can’t. you can only save up X eth to a noun deterministically if nouns price in eth terms is stable. i could save up 5 eth but nouns price can move up to 10 eth. i now need 5 more eth. this is just the reality of trying to save up to a noun with a fungible token that is not directly economically tied to nouns.
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Nounish Prof ⌐◧-◧🎩 pfp
Nounish Prof ⌐◧-◧🎩
@nounishprof
I think I just need to see how it plays out. For now I’ll watch from the sidelines. And sorry @pip you’ll need to seek another pipe!
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Noun 40 pfp
Noun 40
@noun40
that’s totally fair! thx for keeping an open mind
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Nounish Prof ⌐◧-◧🎩 pfp
Nounish Prof ⌐◧-◧🎩
@nounishprof
Don’t you see this as a big problem? We’re back in the pre fork Blur era with an arb https://warpcast.com/wijuwiju.eth/0x098e1757
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Noun 40 pfp
Noun 40
@noun40
market will be more efficient over time as liquidity grows. arb is a dirty word in nouns but not all arb is the same. eth trades at one price in coinbase and another on kraken and someone arbs the difference to keep the prices in line in both markets so that ppl can get the same low price from anywhere. that’s good
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