Wilson Cusack on Warpcast

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This prop makes me sad. https://www.nouns.camp/proposals/662 But I know many thoughtful members support, so I want to understand. It makes it feel like the Foundation has been the main thing for Nouns and we need to find a new way to facilitate that action. Whereas I see the Foundation as a historic artifact. I worry that the Nounders abundance of caution on such things has harmed the DAO in the past. If you support this, what’s the main reason?

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Bitcoin doesn’t need a legal entity. Why do we? Buying a Noun is a sort of proof of work, like mining. The software says the miners can vote or transfer voting rights. I worry we heavily constrain our future on this path.

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with respect, it’s a naive view. also odd to me the amount of people who are almost totally inactive from governance and participating in the community more broadly who suddenly have strong opinions here that said, it’s naive because of the reality of power and US regulatory authority. US courts have determined regulatory authorities have jurisdiction to sue DAOs you can’t be nothing nowhere in court. if you don’t have a legal entity, the court will assign you one based on their jurisdiction if they do, which has happened, the Cayman Foundation’s corporate veil is pierced and individual token holders are held liable as individuals. Nouns founding circumstances are nearly identical to Lido’s, meaning if a token holder sued the DAO, the same thing would happen in the event of an enforcement action, (ie the Foundation didn’t pay the 47.7% tax owed to the IRS on US based profits,) US regulatory authorities have the power to subpoena KYC info from Coinbase, etc. 1/n

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> also odd to me the amount of people who are almost totally inactive from governance and participating in the community more broadly who suddenly have strong opinions here

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started "Vote with Reason", built voter.wtf, invented propdates, + a few other things but yeah unfortunately have not had as much time to be active recently. https://x.com/WilsonCusack/status/1639641821197336578

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Also tbc I don’t think anyone should have to justify themselves for caring selectively about governance, and I think it’s unfortunate that you take such a tone.

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It also may feel different to those who have paid for nouns and have more skin in the game here.

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