Heal Noun O'Clock: Audit of Alternate Forking Mechanics
Since the introduction of a forking mechanism to the Nouns DAO in August 2023, there have been three forks, leading to a drastic reduction in the treasury, which now stands at just 40% of its peak value of $50 million. Although part of these funds remained with nouners, a large fraction went to arbers. Arbers see Nouns as investments. They buy Nouns at auctions and then profit from ragequitting following a fork. They redeemed their Nouns for a proportional share of the DAO’s treasury.Several ...
Heal Noun O'Clock: Audit of Alternate Forking Mechanics
Since the introduction of a forking mechanism to the Nouns DAO in August 2023, there have been three forks, leading to a drastic reduction in the treasury, which now stands at just 40% of its peak value of $50 million. Although part of these funds remained with nouners, a large fraction went to arbers. Arbers see Nouns as investments. They buy Nouns at auctions and then profit from ragequitting following a fork. They redeemed their Nouns for a proportional share of the DAO’s treasury.Several ...
