Nouns

One Noun, every day, forever.

nouns.wtf

I’m not sure there’s a good way to have fork interval > burn interval, so I am now leaning towards vanilla RQ in the main DAO, so that it is maximally competitive and we leak less value. But this is sort of functionally equivalent to have an auction reserve price 🤔

curiosity maxi.

co-founder of @nounish and @nounsfest.  creator of gifs.

In order for the burn to mitigate the arb, we can’t have people forking more frequently than we can burn. 

BUT i don’t see a great way to do this. Involves awkward constraints on forking that could hurt honest forks. 

So maybe instead we mitigate arb by making auctions max competitive: you can fork with 1 noun.

This likely creates an auction price floor at book value and nouns are frequently forked over to the treasury. 

This looks a bit like setting a reserve price as in both cases the number of nouns in circulation isn’t growing unless someone buys without plans to fork/pays above reserve.