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Spencer Perkins
@spencerperkins.eth
IMO, Nouns needs to shift to a long term sustainability mindset, be more mindful of spending and prop impact, and start to operate more like a startup. The runway is quickly shrinking. We need to be proactive, and do things to set the DAO up for long term success, like: * "Revolving Endowment Fund": https://warpcast.com/spencerperkins.eth/0xcb72c32a * Sponsoring props with a revenue split back to the DAO * Decreasing prop runway, anything over 1-3 months should be scrutinized, we should try fail fast and cheaply * ... https://warpcast.com/mikegood/0x8ae035f9
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seneca
@seneca
not clear to me how any of the other revenue streams make much sense / are meaningful in the near-med term. my op is that we should simply lower our spend to match our inflows. if we can rally behind a clear cut metric that constrains us to do that, we can at least start set clear max on the spend.
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Spencer Perkins
@spencerperkins.eth
What part isn’t clear? Diversified revenue streams => increased and more resilient treasury A concrete example, the auction goes to or near 0. The treasury WILL dry out unless we decide to completely stop spending, but might be too late at that point. The “Revolving Endowment Fund” can put the DAOs funds currently sitting in the treasury to work earning low risk yield in Defi. The yield can be used to perpetually fund builders or public goods. Even if the auction goes to 0, this will be a reliable source of revenue. The alternative is spending these funds on much higher risk proposals, which from prop history almost none turn into a substantial revenue stream for the DAO (?). Certainly some of the DAOs allocation should be for purely public goods, but think there need to be a shift to thinking about how we can sustainably continue to do that. Short term lowering spending to match inflows is good, but it means Nouns will be able to fund less and less impactful projects long term.
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seneca
@seneca
if the auction goes to or near 0, we have much bigger problems. no amount of perpetual/alt streams can save us there imo fwiw i dont disagree w your suggestions. they should be explored + pursued. just think they are optimizations that ultimately don’t solve the crux of the problem
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Yitong
@yitong
Yeah i'm on the same page as Seneca – I share the same concern about dwindling treasury as you @spencerperkins.eth, but imo the only correct way out of this is (and always has been) to raise auction price. Instead of splitting attention on alt streams, imo we need focus and discipline around making our main stream work
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Michael Gingras (lilfrog)
@frog
I can't think of any compelling ideas for raising the auction price aside from burning treasury nouns (reducing nouns in circulation). Plus, as the auction goes on and on you are buying less and less voting power. I don't see why the price would ever go up UNLESS there is a compelling BV case where owning the asset is net positive to you as an individual. And for that to be we would need.... alternative streams of funding (that pay dividends or something like that)
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seneca
@seneca
this was the ideological divide for the fork. - why do ppl buy punks? - is a dao structure not the worst possible way to productively allocate assets w traditional ROI in mind?
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Michael Gingras (lilfrog)
@frog
> is a dao structure not the worst possible way to productively allocate assets w traditional ROI in mind I don't think chasing traditional ROI is the correct thing to be doing but I don't see a bull case for the auction price rising unless there is some sort of traditional ROI attached. I don't think auction price will increase. I'd love to be wrong. --- Punks -- punks are digital Veblan goods that serve no other purpose but to signal status. I'd argue nouns had some of this in the early days when auction prices were 100s or even 10s of ETH, but now that we're anchored to a much lower number I don't think they have the as much status allure. Also, the inflationary nature of nouns makes them less scare in the long term which means they are less rare and less likely to be pure veblan goods
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