The Burn
SummaryIn this post, I propose an update to the Nouns DAO software. Any ETH held by the treasury in excess of total_nouns_count * trailing_N_day_median_auction_price can be burned. The goal of this change is to create a code-level incentive for the DAO to (1) spend the treasury, (2) grow the Nouns supply, and (3) increase the auction price. This change will also mitigate the “risk free value” arbitrage (detailed below). When this change is first introduced, there should be a waiting period be...
The Burn
SummaryIn this post, I propose an update to the Nouns DAO software. Any ETH held by the treasury in excess of total_nouns_count * trailing_N_day_median_auction_price can be burned. The goal of this change is to create a code-level incentive for the DAO to (1) spend the treasury, (2) grow the Nouns supply, and (3) increase the auction price. This change will also mitigate the “risk free value” arbitrage (detailed below). When this change is first introduced, there should be a waiting period be...
Reflections on Father's Day
Written in 2018 I became a dad in an unusual circumstance. My wife’s brother died in the fall of 2016. His daughter—Asher—was almost one year old and in foster care at the time. Prior to his death, he and Asher’s mother had agreed to ask my wife and I to adopt Asher. Asher’s mother persisted in this wish after he died. Asher’s dad died at the end of August 2016. My wife and I had graduated college in May 2016, were married in June, and moved to Ghana for a company I was starting at the beginn...
Reflections on Father's Day
Written in 2018 I became a dad in an unusual circumstance. My wife’s brother died in the fall of 2016. His daughter—Asher—was almost one year old and in foster care at the time. Prior to his death, he and Asher’s mother had agreed to ask my wife and I to adopt Asher. Asher’s mother persisted in this wish after he died. Asher’s dad died at the end of August 2016. My wife and I had graduated college in May 2016, were married in June, and moved to Ghana for a company I was starting at the beginn...
The Many Lives of a Nouns DAO Proposal
In my dreams, I am ever closer to writing some all encompassing post about how I think of Nouns. In reality, I’ve barely written anything. So, awaiting that blessed day, I’m going to try posting shorter thoughts. Nouns DAO funds proposals. Proposals can be made my anyone with two Nouns delegated to them (frequently, a builder can get a delegation to put up a proposal). Proposals include at least one transaction: e.g. transfer ETH from Nouns DAO to the proposer, so that they can do what the pr...
The Many Lives of a Nouns DAO Proposal
In my dreams, I am ever closer to writing some all encompassing post about how I think of Nouns. In reality, I’ve barely written anything. So, awaiting that blessed day, I’m going to try posting shorter thoughts. Nouns DAO funds proposals. Proposals can be made my anyone with two Nouns delegated to them (frequently, a builder can get a delegation to put up a proposal). Proposals include at least one transaction: e.g. transfer ETH from Nouns DAO to the proposer, so that they can do what the pr...
Actor Protocols
I’ve enjoyed using Mirror as a bit of public record of my thinking on some things. Actor Protocols” were an important idea for me in 2022, and so I wanted to publish something on the topic before year end. If only for my own sake in seeing a timeline of my own thinking later. I think this was really my first tweet on the topic. We were trying to figure out Backed v2, and I noticed there are really different categories of protocols in crypto: those that can be used to ratify arbitrary peer to ...
Actor Protocols
I’ve enjoyed using Mirror as a bit of public record of my thinking on some things. Actor Protocols” were an important idea for me in 2022, and so I wanted to publish something on the topic before year end. If only for my own sake in seeing a timeline of my own thinking later. I think this was really my first tweet on the topic. We were trying to figure out Backed v2, and I noticed there are really different categories of protocols in crypto: those that can be used to ratify arbitrary peer to ...
The Case for Value Capture at the Periphery
This is another spur of the moment post. Only putting on Mirror so it lives on a bit better than a Twitter thread. If it is dumb please pretend someone else wrote it. I recently wrote about the case for fees that make a protocol stronger. https://w.mirror.xyz/eOXDGQYvZQxf7gRW3ZXSPNUto7E8dCZGe4oqZbm_QsE Lately I’ve been thinking about something else: extractive fees should be accrued to parties at the periphery and not to the protocol/DAO. “Extractive fee” is kind of a cynical framing. I am re...
The Case for Value Capture at the Periphery
This is another spur of the moment post. Only putting on Mirror so it lives on a bit better than a Twitter thread. If it is dumb please pretend someone else wrote it. I recently wrote about the case for fees that make a protocol stronger. https://w.mirror.xyz/eOXDGQYvZQxf7gRW3ZXSPNUto7E8dCZGe4oqZbm_QsE Lately I’ve been thinking about something else: extractive fees should be accrued to parties at the periphery and not to the protocol/DAO. “Extractive fee” is kind of a cynical framing. I am re...
