0x1aa55a5f…bdacsent to0xa5bf9a9b…33a4·#22,453,859·view on Etherscan
After the transfer of 3.6b $nogs (~$50k at the current MC of 750k) to the treasury, we are now ready to unveil the new renovation around NOGS, which will start soon.
Our main goal is making $nogs a growing asset in the dao's treasury, in terms of both economic value and strategic utility for other communities, within and outside the Nouns ecosystem.
To do this, we will enhance the current utilities and add new ones across the year. More importantly, we will begin a drastic process of decentralization and supply cut that will free $nogs from our control and will deeply integrate it into the ecosystem.
## What’s next:
**1) Decentralization of $nogs**
We’re working to gradually eliminate the main points of centralization around $nogs. This includes:
- Renouncing to contracts
- Consequent deletion of 1.69% yearly inflation (up to now never been minted)
- Following the reorganization and burn, **the DAO would be the only entity to control ~15% of the supply.**
- The Reward system for communities will be discontinued and switched to a system like [the one we tested with Based Nouns](https://nouns.build/dao/base/0x10a5676ec8ae3d6b1f36a6f1a1526136ba7938bf/vote/31), so any community will be able to autonomously buy $nogs and inject rewards into their NFTs.
- Communities could make props to the DAO to get a delegation of part of the 3.6b $nogs to give governance power to their members through the NOGS pool; Or to get a transfer of $nogs to use other utilities of the NOGS infrastructure, like the NFT Reward System. We are working on a delegation system that will be integrated with these processes.
**2) Reorganization of the supply**
Too much $nogs is still locked in contracts with no real use, and still under our control.
• We’ll burn everything stored on the mainnet. This will immediately destroy several billion $nogs, which will be enhanced by monthly burns from vested contracts.
• We’ll burn ~24B out of the 34B in the LP. The remaining ~10B will be locked again, this time forever. The ETH from our presale not locked in the LP will be injected into the DAO through bids with the goal to create a bigger and more stable pool of Nouns and will be used to guarantee the continuation of nogs operations and the release of our pipeline of products.
• These changes will make the remaining supply fully liquid, with a projected total supply cut of at least 60%, probably more.
• Contracts on Base won't keep anything of the existing supply, except for the exact amount of $nogs needed to manage the still active NFTs rewards. (expected burn on Base: ~6B $nogs)
• Team won't keep anything from existing contracts and will be able to get $nogs from the market like anybody else.
The burn will be managed on mainnet through [this wallet](https://etherscan.io/address/0x9454E8E87e46ac6f8BEbAEe404c3DEe132DE0649). This also includes a progressive monthly burn from vested contracts until they are empty.
## Process and Allocations
Even with the stop of our stream, our priority is still to increase the inflow for the DAO. This is linked with enhancing the NOGS infrastructure and ensuring the continuation of our operations and new products releases. We reorganized the unlocked part of our presale to be able to accomplish all of this.
- **60 ETH** will be kept into the LP and locked forever.
We will also seize the opportunity to upgrade the pool to Uniswap v4 and the fee tier from 0.3% to 1%. This will give us more margin for bigger burns and utilities for holders in the future. We are currently exploring a new application for the lp that will add an additional recurring revenue channel to bigger holders, especially to communities who own an high $nogs stack like Nouns and Lilnouns. We'll share more about this in the coming weeks.
- **50 ETH** will be injected into the DAO through bids distributed across the most active Nouns clients using [this wallet](https://etherscan.io/address/0x8698998b20226bc504dcb93D3144130eF0Be016B).
**We are also testing the expansion of the governance system to new nounish DAOs,** if the experiment succeeds we will inject some ETH in communities like Lils, Gnars, Yellow and more.
Vertical governance is one of the most exciting utilities of NOGS and **we are going to keep betting on this with the creation of a bigger and more stable NOGS pool of Nouns.** This will bring additional resources to the DAO and it will increase the power of every NOGS holder and community.
**This will also work together with the delegation system we are going to develop for the DAO,** which will allow any community to ask for a delegation of $nogs and share the voting power over the NOGS pool of Nouns to their community members.
**Last but not least,** we are also planning to work closely with nounish communities and Farcaster channels and allocate some Nouns for fortnightly/monthly delegations to members of the ecosystem as a reward for special accomplishments in their respective communities/channels.
- **~99 ETH** will be used to ensure the continuity and expansion of the NOGS infrastructure and team operations through [this wallet](https://etherscan.io/address/0x60800287ee90c1adcc3Ea99A650c962adCA71c70).
The main goals are still the same we had for our now interrupted mandate, that is, bringing more value and resources into the DAO and reaching self sustainability asap to continue our work and support potentially forever.
Should we succeed in making our operations self sustainable before eoy, the rest of the budget will be used to increase the injection into the DAO.
For now, we postponed the release of the other products we had in the pipeline to give priority to this new and decentralized version of NOGS and to the governance delegation system for communities.
Changes around supply and liquidity will begin soon and will continue for the next weeks until completed.
**With the current new structure and allocations, NOGS could bring +4M$ of additional value to the DAO with a marketcap of 50M.**
We'll do our best to make NOGS successful and everyone is welcome to participate and build on it.
**With this I'm not saying it will be easy,** but especially considering the current economic situation in the DAO, I believe the experiment of a decentralized collective building linked to a direct growth in terms of economic treasury value is worth a shot.
That was the core idea of our mandate for this year and I will do whatever it takes to show everyone how strong and effective this kind of approach could be.
I'll continue to keep everyone updated about this journey.