0x1aa55a5f…bdacsent to0xf790a5f5…1365·#21,445,147·view on Etherscan
@0x073f...2e63
Hey bix!
The funding we’re asking is not for NOGS, nor for a memecoin prop. It’s for NNS Labs to continue its operations and build new infrastructures for the ecosystem and support its communities.
The infrastructure we’d build thanks to this prop will be vertical products for communities like the one I mentioned in my last comment (see “food for thoughts”).
Also, we are and always will be extremely receptive of the DAO’s needs and wants. We could also wait to transfer the $NOGS into the treasury and keep them into the NFTs until DUNA is active.
Or we could make another prop to burn the whole stack of 3.6B, and let the majority decide.
Our goal is the evolution of the broader ecosystem and the DAO itself, so we’ll always be flexible about everything.
Thank you so much for your feedback, I know you’re a NOGS supporter despite this voting, but I’d rather there not be any confusion about this funding. It’s not a memecoin prop, it’s a NNS Labs prop.
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> Sam you are easily one of my favorite developers.... I even have your autograph on a Game Cube controller, but I have to say this seems a bit contradicting.... 'I'm fine with people creating nounish memecoins and they probably end up being a net good for Nouns but I don't think the DAO should fund them.' - 24hrs later puts up a prop for the DAO to funds $NOUNS token with liquidity - GG
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> My view on this proposal is....given our upcoming transition to DUNA, we need to exercise heightened scrutiny regarding proposal funding, particularly concerning their regulatory implications.... I personally do not think the DAO should be funding any proposals that are attached to an ERC20 token or has a token involved, as it put us in a sticky situation if the token is considered a security or not if it has an LP. Unfortunately I think NNS has evolved so much from the original proposal (which is not a bad thing at all, $NOGS has been a net positive for the ecosystem) but it is an ERC20 token that is given to DAO members & will benefit in price appreciation with this funding, so are we funding a potential security? I'm not a lawyer so I can't say with certainty, but it's not a risk I think we should take.
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> +1
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> > I really do respect the effort that has been put into this project to help grow Nouns, and I actually think this concept of creating a platform that incentivizes people to explore and participate in other nounish projects is worth funding.
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> > However, I just don't personally like $NOGS. I'm fine with people creating nounish memecoins and they probably end up being a net good for Nouns but I don't think the DAO should fund them.
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> > If you guys were to come to the DAO and propose the Noggles Club concept but built on top of $nouns, I would be happy to support it, albeit somewhere in the $200-250k price range.