0x1aa55a5f…bdacsent to0xa5bf9a9b…33a4·#22,302,289·view on Etherscan
We’ve completed a 3.6B $nogs (~22 ETH at the current MC of 500k) transfer to the DAO, consistently with the plan we had for our (now interrupted) yearly mandate.
We wanted to send the amount directly on Base, but after a few chats with other nouners it appeared the DAO’s OP alias was not the best choice due to complexity and possible mistakes. That’s why we opted for mainnet instead.
This amount has always been meant to be, and still is, a core piece of this year’s plan and revenue generation strategy for the DAO.
It’s made up of:
• 1,767,573,428 $nogs moved from 542 Nouns and 828 Lils stored in the Treasury;
• 1,832,426,572 $nogs added as an additional boost from unused nogs assets, to maximize outcomes through new releases during the year.
The stream interruption has been a cold shower. And even if at the end it wasn’t related to the first 2.5 months of our mandate, it’s been a wake-up call for everything I could have managed better over the past year.
In hindsight, liquidating 14B unused $nogs throughout the last year, without communication and context about our burn and reorganization plans, was incredibly stupid. It aligned with how poorly I handled both personal and work challenges in that second half of the year and I’m ashamed of how those decisions affected 3 years of hard-earned reputation in the ecosystem, especially during such an important mandate.
I know it’ll be hard to earn back trust from some people. And I know this will also impact everything we’re planning to release moving forward.
I’ll do my best to push through this and carry out the plan we envisioned for this year and beyond.
But after these past weeks, it’s clear a restart is needed.
**We won’t seek any more mandates. Not now, not in the future.**
Instead, we’ll focus on this Restart and support the DAO in the ways we set out to at the beginning of the year.
**Next week we are going to release the full plan about the nogs supply reorganization. This includes a series of drastic changes that will definitely evolve nogs and its long term economic and utility impact for the DAO and the ecosystem.**
Eliminating the main points of centralization, renovating the supply through massive burns and maximizing economic impacts for the DAO are only a fraction of what nogs is going to become.
**The upcoming changes will make $nogs a leaner token, free from our control, directly influenced by the DAO, and ready to be integrated and supported by any other product created by us or any other builder.**
Nothing about our plan has changed. I still strongly believe the infrastructure we’ve built during these 3 years and the tech support we give can be incredibly beneficial to the ecosystem and that $nogs can become a powerful utility token and economic asset for the dao, especially with the upcoming changes we will share next week.
I also know a lot of hard work and time is needed before regaining the trust of many people, and even then it might not be enough for some of you. And that’s fair.
More updates soon. Have a nounish Easter everyone.