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https://opensea.io/collection/nouns
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dotnouns.⌐◨-◨
@dotnouns
Just back from my 2nd surgery of the year. I’m still recovering but I’m finally ready to get back to work. I wanted to give you a preview about one of the new utilities we developed during this period and do some brainstorming, especially since it's something that's never been tried before: 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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dotnouns.⌐◨-◨
@dotnouns
In the coming days, we are going to build a bigger pool which will be mostly made of Nouns, but also Lils and other nounish communities (maybe even some Toadz). All the NFTs in the pool with a governance utility will be governed by $nogs holders as always. We are also going to add a delegation system that will make it easier for holders to sponsor their prop or a prop they care about. (@krel this could also help scale nounsgrant props a bit) Main difference is that, at any moment, holders can also decide to burn their $nogs and forge any of the Forgeable NFTs in the pool. Even if forging removes a NFT from the collective governance, all the $nogs used are burned forever, thus making the utility token more scarce overtime.
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dotnouns.⌐◨-◨
@dotnouns
This is a different approach than giveaway situations like the Noggles Club, where people get something for free and have therefore many reasons to sell. The Forge requires a dynamic burn of $nogs and this amount is currently influenced by the value of nogs and a 30 day average historic value of the NFT (Forging dynamics will be constantly improved over time to ensure stability). This system deletes the selling issue creating an incentive to hold $nogs and have fun with the growing stack of utilities around it (tipping users and creating collections in $nogs make more sense now)
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dotnouns.⌐◨-◨
@dotnouns
We are completing the core tasks for the new upgrade that will make $nogs free and ultra deflationary. We are ready to initialize the bridge to mainnet of 28,252,316,732 $nogs (342k$) and already moved all the unlocked mainnet nogs (~5.6b) to burn.nogs.eth. The first burn will consist in ~33.9b nogs (~410k$) leaving the supply from 69b to 35.1b nogs.
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Noggles Bot - $NOGS
@nogglesbot
Complete the pending withdrawal on app.noggles.com to send more tips
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