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Spencer Perkins
@spencerperkins.eth
Path to making $nouns useful and scalable: 1. Get it audited 2. Exclude $nouns’ Noun balance from totalAdjustedSupply (NounsDAOFork lib upgrade + NounsDAOLogicV4 upgrade to consume new lib) 3. Deposit some treasury Nouns (top N ID’s) 4. LP some of the $nouns, and distribute others as builder rewards Benefits: * $nouns won’t break governance quorum * More LP means less slippage, making it more feasible to use $nouns as a medium of exchange within the Noun ecosystem * Fractional treasury Noun distribution for builders rather then giving full Noun’s, which are mostly not being used (and themselves, hurting quorum) Prop 536 failed largely due to regulatory uncertainty and liability, but DUNA might solve this? Thoughts? cc @noun40 @el4d @davidbr
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SQX
@sqx
this solves the liquidity aspects a bit. BUT my main concern with nouns is it is designed to have constant sell pressure . due to the nature of the distribution and who it is distributed to. HEAVY CONCENTRATED AERODROME POOLS . 5% band around the past 10 day sales? roll every 5 days. with overlapping pools. (just thinking out loud) $nouns main goal is stability based around price of a noun.
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Spencer Perkins
@spencerperkins.eth
Don’t think there is necessarily constant sell pressure. Since $nouns can be exchanged for a Noun, 1M $nouns will follow the secondary floor price of Nouns with some discount for slippage (Arbers will make it so). But, currently $nouns don’t have much other utility besides stacking for a Noun. Think there are other ways they can be useful in the Nouns ecosystem used as a medium of exchange. Think buying merch, tickets, etc. But, due to the huge slippage caused by the lack of LP, folks are less willing to accept $nouns as at the end of the day some will need to be converted to cover costs (in fiat?). Increasing LP should help increase utility. But, to do this probably to fix the quorum inflation issue first (or maybe not, there are already a ton of Noun in totalAdjustedSupply that aren’t voting).
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SQX
@sqx
i played in the $nouns pools for a bit. liquidity makes it super problematic as an actual representation of price . i was an arber and an aquirerer. I gave up on the acquiring aspect.
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