Nouns

One Noun, every day, forever.

nouns.wtf

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!

part of verbs team, working on nouns things

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

working on nouns protocol ⌐◨-◨ https://mirror.xyz/verbsteam.eth

Think I am against allowing people to mint $nouns with nouns. Esp for v1. Not needed for the primary use-case (reward builders) and will increase unproductive speculation . It also makes % exit much more complicated since treasury nouns will be fungible but others will not

clarifying:
1. do you mean you think minting $nouns should be possible only by the DAO? I'm also slightly leaning that way.
2. I didn't understand the part about the % exit complication. can you explain more?

1. Yes (shooting myself in foot here as possible large LP fwiw) 

2. Imo if we move to % exit is possible (likely?) treasury nouns will initialize @book value at time of change. Newly auctioned nouns would all have different exit values though which adds arbitrage and opacity to claim process

I understand. not sure regarding likeliness of % exit, maybe prop 528 will shed some light? I agree % exit adds a new dimension of non-fungibility to Nouns, which would make less sense with the current "floor nouns" pool. I imagine owners won't deposit a Noun with higher % exit value.

hope so!  
 “Floor nouns” is up there with “book value” for least nounish concepts imo  🤢 
there are other ways to do this! Let $nouns be redeemable @auction. 1m = can call settle prev/claim today’s noun

didn't get the suggestion. how do $nouns participate in the auction?

1m $nouns means you can settle the prev noun and you automatically are issued the new noun minted on that block . Builder gets their ideal forever noun, no fungibilizing of existing nouns . 

Can auction a treasury noun off for each $1m nouns minted to avoid becoming a debt economy

which is why to integrate w auction..does not affect 1/day. 
However was just thinking there’s a strong case for your version as well. (Start a perpetual nouns generator..one random noun every block claimable w enough $nouns) 

If nouns claimed this way are pure governance (1 vote, no exit $) could be just the thing

OK, so 1m $nouns become a coupon to mint a noun (doesn't have to be attached to the auction lifecycle?)
DAO can mint $nouns on demand (via proposal), no depositing of NFT Nouns needed.
First concern on my mind, is that supply is unclear. Current mechanic still keeps 1 a day. wdyt?