# Statement on Proposal 955

**Published by:** [Nouns DUNA](https://paragraph.com/@nouns/)
**Published on:** 2026-04-28
**URL:** https://paragraph.com/@nouns/statement-on-proposal-955

## Content

The DUNA Compliance Administrators, in collaboration with the Veto Administrators, are responsible for ensuring alignment with the DAO’s Governing Principles, which are defined in Section 1.3 of the DUNA bylaws established in Proposal 727. In consultation with legal counsel and members of the Nouns community, we have reviewed the following risk areas as related to Proposal 955:Securities law riskTax compliance riskSanctions compliance riskWhile we acknowledge that a reserve price on new memberships could potentially be detrimental to the DAO, the long-term consequences of a reserve price are ultimately unknown. It is our belief that veto use should not be based on speculation about future possible outcomes, but rather on the DUNA bylaws which were established in Proposal 727. Under Section 2.2(c) of the Bylaws, veto authority is limited to extraordinary circumstances involving material legal or existential risk. After careful consideration, we determined that a change to the reserve price alone does not meet the threshold of “extraordinary circumstances,” nor does it, on its own, introduce material legal or existential risks to the DAO in its present form. This conclusion applies to this proposal in isolation and should not be interpreted as an assessment of broader governance patterns or future proposals. Members are expected to continue to operate in good faith and in alignment with the DAO’s nonprofit purpose as set out by the DUNA Bylaws. We remain mindful that future proposals could cross these thresholds and we will continue to monitor them closely. Sincerely, DUNA Administrators

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