dotnouns.⌐◨-◨
1.6K posts
dotnouns.⌐◨-◨
@dotnouns
Building @nnsprotocol and @nogglescoin
⌐◨-◨ Katılım Mart 2022
573 Takip Edilen1.6K Takipçiler
@benjaminlatsko @jchaskin22 @ethereum_NYC @SuperRare @ethereum @nounsdao @nounsgg @VinnieHager @tigerbob_global @alyssastevens_ @NotAklo @ethereumfndn Awesome! Also: is that you @dotnouns 😆🙏🫡
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I'm excited to announce that @jchaskin22, @ethereum_NYC and I are teaming up to host a special edition of Haus of Nouns:
World of Apps ⌐◨-◨ in NYC at @SuperRare Offline Gallery on August 14!
@ethereum app demos from established ecosystem builders and live art with @vinniehager @grelysian and @alyssastevens_
All brought to you by @nounsdao @OctantApp @ethereumfndn @HairDAO_ @selfxyz @poapxyz
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@yoddhaxyz thanks fren. Reading the missed DMs rn. I'll be back to you in the coming days so we can share some ideas!
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Just back from my 2nd surgery of the year. I’m still recovering but I’m finally ready to get back to work.
Here is a full thread about one of the new nogs utilities and the upcoming changes:
FORGE. ⌐◨-◨
A new liquidity experiment that links $nogs to real NFTs that are part of the nounish culture.
You can imagine it like Nouns Swap, with the difference that it can potentially become the top of the funnel for new members for any nounish community and the $nogs used for the “swap” are not just converted but burned forever.
Here’s how it works 👇
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Forge will be released right after these quick tasks and it will start with Nouns and Lils NFTs.
Everything is still in beta so any thought or idea on this utility and how to improve it will be greatly appreciated and welcomed!
Redemption Program and the release of new nounish apps and infras powered by fees -> burn dynamics are next in the pipeline.
⌐◨-◨
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Other 8.9b of unusued nogs are still locked in vested contracts which will be gradually emptied and burned on a monthly basis.
As I already anticipated, there won't be any kind of preallocation anymore, everything will be burned leaving market the only option for everyone.
This will bring the final max token supply from 69b to only ~26b nogs, fully in circulation.
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@60r90 I didn’t know there was a base address of the treasury. We’ll send the nogs by this week!
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@dotnouns Why would nouns want it on mainnet? There is a base address owned by dao:
basescan.org/address/0xc2B4…
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Changes around $nogs:
After the recent events and the mistakes I clearly made, we are taking the opportunity to redesign a complete upgrade of nogs with the goal to solve some flaws and make sure the same issues don’t happen again.
Since we are getting many DMs with ideas about this, I’m sharing the plan here. Nothing is set in stone yet but this post will give you an idea about everything.
1) Full decentralization
Working to remove any centralization from nogs. This includes:
- renouncing to contracts
- Consequent deletion of yearly inflation (up to now never been minted)
2) Reorganisation of the supply
Too much supply of nogs is still locked in contracts with no real use cases and under our control.
- We are going to burn everything still stored on mainnet.
This will result in an immediate burn of several B of nogs and it will also create an automatic monthly burn from vested contracts.
- We are going to burn around 20B out of 30B stored in the lp. The remaining amount will be locked again but this time forever.
This operation will make $nogs supply fully liquid and in circulation with an estimated cut of the supply of at least 50-60%.
3) Expansion of the infrastructure
We are going to use part of our presale to make nogs stronger. This includes:
- injection of ETH into the DAO through bids with the goal to create a solid pool between 30-50 Nouns. This is linked with the program to give governance power to communities we were working on and a small part of the program to bring additional resources into the dao.
- Buy and burn program executed on monthly basis.
- Ensuring the continuation of nogs operations like noggles club while we also work on its separation into a stand alone and semi automated platform
All these changes will make nogs a much leaner token, free from our influence and control and ready to be integrated and supported by the other products we are working on.
I know the last weeks have been heavy for everyone. I did some incredibly stupid mistakes, but nogs and everything we built until now are here to stay and I’ll do everything I can to make them work.
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@60r90 We are going to organise the tx these days.
We are seeing if we can send the amount directly on mainnet or if instead we need to bridge it from Base.
But I’ll send an update when everything is planned
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Obviously. What happened last year is why the mandate for this year was suddenly interrupted and our core project took a huge hit.
And it’s also why I agree it’s important to make nogs free and not a centralised asset of ours anymore.
It’s clear that last year I managed that sell and the communication totally wrong and I know it will be hard to recover the trust of some people.
But we are working on that.
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- We always said a use case of the fees was for the development of nogs or to unlock/empower new utilities.
We considered them a rr from our presale, that’s why in that moment using those felt normal.
We thought to accelerate the purchase of Nouns trough a reallocation of it in a couple of months, but we postponed that for a while.
I should have shared more with the community to give more context and I’m sorry for that.
- The treasury nouns have 0 $nogs to avoid that anyone who would swap one of those Nouns would get the respective nogs. But those nogs have always been allocated to the dao.
Since everything was already set and those nogs weren’t going anywhere else we were expecting to do that within Q1.
- That was stupid and I should have definitely shared more. This mistake brought us to lose the mandate and to this mess.
I was working on the supply reorganisation we were going to make and planned that those mainnet nogs were going to be burned anyway because of the wrong tokenomics.
In that moment I didn't realize they were a badge of trust from the community.
That misjudgment was something I can't forgive myself for.
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@dotnouns What about the $70k fees for the party
What about the billions of nogs you said you would send to treasury from the locked treasury nouns?
Why do treasury nouns have 0 $nogs?
What about you dumping 20%!! of supply on community already
You rugged mate, pretty simple
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@60r90 We are not rugging anything mate.
We always shared the possibility to use part of our presale to make a strong rebalance of the supply and increase the rewards and utilities associated to nogs. That’s why we locked the presale for 1 year.
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We must have two very different definitions of what rugging means.
We always shared the possibility to use part of our presale to make a strong rebalance of the supply and increase the rewards and utilities associated to nogs. That’s why we locked the presale for 1 year.
In Nouns we are full of props that got funded and run without any execution. We always executed and continued to expand our infrastructure, mandate after mandate.
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Prop 766 has been a harsh blow to me and I took 2 days (over the weekend) to recover and reorganise our next steps.
NOGS won’t go anywhere and we will continue to evolve it, just like we will continue to build for the ecosystem.
Since everything happened so fast and this is our full time job, I’ll need some days to refocus and reorganise everything, from the pipeline of releases to the organisation of the team and everything else.
We used the last k$ (already unlocked) from the stream to pay some expenses for this month, including the last physical drops of the Noggles Club we had already committed to.
After that, we will regroup and figure out how to organise everything in order to support our work across this year.
I’m sorry to see the scam accusations about nogs, and tbh if I am a scammer I really must be the most incompetent one in history.
Following the plan we outlined for this mandate, we are going for a complete renovation of the tokenomics and supply of $nogs.
This includes the burn of at least 50% of the supply which was set to happen between April and May leveraging the planned rebalance of the LP.
Since in 2025 we were going to burn most of the nogs stored in the LP, I took the decision to sell some to support the team across 2024 and thanks to that we’ve been able to expand the utility of the token and our products without relying on additional funding for the second half of that year.
NOGS has been our very first experience with a token, in a fast changing environment too, and I must admit I took many things for granted.
Again, my lack of communication made a mess and I’m sorry for that.
Had I shared more with the community about our struggles and plans, everyone would have had more context and all of this could have been avoided.
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@next_roy hey fren! can you follow back? I have a nounish question and I think you can help ⌐◨-◨
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Just saying... $NOGS is the most underrated and slept on token! ⌐◨-◨
Join the club:
noggles.com
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@0xCoinacci @goyabean_eth @basednouns @nnsprotocol Hey! Make sure the right wallet is connected and you are on the Base network.
Just followed you to give you more support if needed 🫡
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@goyabean_eth @basednouns @dotnouns @nnsprotocol I think you don't understand me. If you don't have any NFT, it says buy it from the marketplace. But I already have an NFT.
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