Change of Emission Schedule to Nouns Dao

Change of Emission Schedule to Nouns Dao

At 1/10 of the emissions; the Nouns Dao will far and away be the largest holder of “lil Nouns” which they do not “want” to be the case due to wanting to be seen as neutral and impartial. It is hard to be neutral with the lions share of DAO votes.

Per @beautifulnfts: Discord

and a follow up by “lil nounder” @lilworld that these conversations, while maybe slightly overblown, are happening. (AS ALWAYS. Best way to head off problems is to think about them prior and meet them head on so we than 13)

At present we have 1908 lil’s minted. So that puts 190 in the Nouns Treasury.

my suggestion is as such:

  1. Cease all emissions to Nouns DAO in current formation. No More lil’s would be sent to NOUNS.
  2. Nouns maintain ownership of first 100. Corresponding to NOUNS under 1000. As those will IMO become more valuable due to timing and presence in the building (theoretically)
  3. Pay a 10x multiple as “tribute” for repayment to seeding costs. If 1.7 eth pay back 17 eth. (Some of this is inflated due to the success of the lil nouns. So a dynamic payback. I am in no way suggesting a 10x payback should be a theme for all forks going forward.)
  4. Remain ~90 ‘lil’ can either be repurchased be
    a) Repurchased by lil nouns in bulk at floor price
    b) Donated back to the grant funds
    c) Donated back and paired with lil’s eth and deposited to liquify the NFTX POOL *
    d) Raffled off to Noun Holders (they are theirs after all)
  5. Continue future “tribute” through 50/50 shared revenue of the DAO’s portion of NFTX POOL Fees. **
    This gives the Nouns the ability to hold a strong portion of the success in the future of the lil nouns through the holdings of 100 of the first 1000 lil nuns NFT’s. They will not only be highly sought-after IMO if things work well, but having only 100 can provide the NOUNS the ability to vote and not outweigh ALL opinions and always be the swing the vote.

*Since lil treasury currently holds no Lil’s to seed the nftx we would have to buy in auction or open market. This is a convenient solution creates a substantial package. These lil nouns would be seeded with treasury eth. All is dependent on NFTX TREASURY MANAGEMENT prop passing.
**To continue in the theme of a handshake partnership with nouns as our forefathers. The goal moving forward would be to share all of the LP revenue from the NFTX pool in perpetuity with the Nouns treasury. 50/50 . (no matter the split of assets: ie. Dao nftx vault wallet holds 700 lil’s and equal paired eth. The initial 90 lil’s still gets the right to 50/50 split on inflated vault). All is dependent on NFTX TREASURY MANAGEMENT prop passing.

NEEDS:
Public Lil Opinion.
NOUNS opinion
NFTX Vault
A Developer who can adjust (shut off) the emission schedule code.
**potentially 45-90 eth. But this is already in these forms so a … fungible transfer IMO

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The implementation is a bit complex; however several big-Nouns have mentioned that they were interested in altering emission/tributes schedules. I think this proposal is a step in the correct direction. Looking forward to hearing comments from other Nouns.

I recall that Nouns DAO have a discussion amongst themselves to either send back a significant portion of lil-nouns back to our treasury or to burn them. I’m not sure who you can speak to about this, but reckon lil dot and lil msg are aware of such a discussion.

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I’d love to revive this topic — the autonomy of Lil Nouns DAO is a primary concern here. The current structure leaves us quite vulnerable to Noun DAO, which can be both a blessing and a curse. I don’t see a ton of support from Nouns at the moment, so the current relationship feels quite one-sided.

Thoughts?

Top Holders Dispersion

We should have a rep soon so hopefully we can have a more nuanced discussion with the nouns as t how they would like to proceed as well. since at this point it is kinda an odd couple partnership or VC.

I Think it is important to explore though, and those Lil’s can be repurposed going forward.

This is a very important proposal. We’ll need to figure out details/execution to write a full proposal but what are the next steps to get a formal vote set up?