๐งโ๐ Nouns Is Dead, Long Live Nouns
AI Summary
Nouns DAO has been captured by a small whale coalition who accumulated enough tokens to pass proposals unilaterally and intentionally abstained from governance to stall community proposals. They forced through Prop 955 which sets auction reserve prices to 2.8 ETH, effectively killing the 'One Noun, every day, forever' vision and preventing new voters from joining the DAO.
Key Facts
Author Takes
Nouns DAO governance capture
The whale coalition has bastardized Nouns into a finance-focused investment vehicle, killing the original collaborative creative vision
Nouns V2 potential
A V2 with more complex governance like quadratic voting could make Nouns capture-resistant and revive the original spirit
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