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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
@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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@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
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@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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sky.⌐◨-◨
@sky
Some would call this fractionalized floor price Nouns. In tradfi, it might be called “worst-to-deliver”. If you have 1 million $NOUN tokens, you can “redeem” a Noun from the pool of Nouns that are available.
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sky.⌐◨-◨
@sky
Any Noun that has any additional value to the market or the owner will likely never be put into the available pool of Nouns.
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