Active Governance - Noun 582 - #1
How I'm voting on proposals 221-231.
Inspired by fellow Brazilian nouner @dgntec, I decided to create a newsletter to share my voting decisions and reasoning on the DAO’s proposals.
Here I will be preseting my personal opinions based on how I believe the DAO should be using the treasury to achieve its goals. I made the decisions based solely on the on-chain proposals.
I also want to mention that I’m new to the nouns ecosystem and I may not have all the facts and, consequently, I may just get some things wrong.
With that out of the way here are my thoughts on props 221-231.
*If you don’t know what NounsDAO is please go to nouns.wtf and watch the video there before continuing*
Proposal 221 (Voting For):
Increase Voting Delay and Voting Period
With the amount of proposals the DAO is getting and the time it takes to fully read and understand each one, the suggested increased delay seems to be a good move.
Proposal 222 (Voting Against):
Nouns Treasury Management
While I agree with the initial premise of a need for treasury care and growth I have quite a few issues with this proposal.
Smart contract risk. From what I saw the DAO would be engaging on quite a few different smart contracts. Even if they are audited we know from experience that can oftentimes not be enough.
Protocol risk. Although less risky, even proved protocols could still be exploited, adding another layer of risk.
The cost while also asking for a % of the yields feels out of touch. I don’t see why the DAO would keep sharing yields even after the services have been completed.
Overall I think it’s not needed right now, it’s risky and it’s not the right way to do it.
Proposal 223 (Voting Against):
House of Nouns v2: Public Good
I’m a fan of house of nouns. As a new nouner it was a great place to see past discussions without having to scour one of the many community discords.
That being said, the value of this proposal just isn’t there. The deliverables are good but definitely not essential and don’t bring that much value to the DAO. Above all it’s just not compatible with the proposed ask.
To me it’s one of the bigger problems I’ve observed with the DAO, it seems a lot of projects are being overcompensated. By voting against, I hope to signal the need for fairer pricing in the market.
Proposal 224 (Voting For):
Nouns x Artmatr
I really like how this proposal was presented, especially breaking down all the costs.
First thing that came to mind is whether the proposal would pay itself back with the auctions. It would require a premium of about 14eth each day and that feels really plausible to me.
The marketing effect seems relatively limited but it could be a good use case to reference in the future. Overall a net positive for the DAO and worth the experiment.
Proposal 225 (Voting Against):
Noun Sounds: Empowering Musicians + Community
I have a few concerns.
I wish the metrics for each artist were on the prop along with reasons for choosing those artists. Most importantly there should be a better description of what exactly the partnership entails.
The cost breakdown is not detailed enough. What are these numbers based on?
It’s not clear if any funds will be used for the sub DAO in any way. I also just don’t really see the need for it.
The rest of the deliverables are all great. I am a musician myself and I think those are valueable tools.
I’m really torn on this one, but for the moment I am voting against. I would like to see this proposal resubmitted with a more detailed explanation of the costs and the partnerships.
Proposal 226 (Voting For):
The Noun Square: A Community Hub and Media Network for the Nouniverse ⌐◨-◨
I really appreciated the thorough presentation here.
From what I’ve seen TNS has a proven track record and it’s an important pillar of the nouns community. I believe the people at TNS genuinely care about Nouns and it’s ideas.
I’m glad to see that they addressed the long term financial sustainability. It’ll be important to see how succesful the goals set by the team end up being.
Proposal 227 (Voting For):
Stake additional 5000 ETH in Lido
I was made awere by a few members of the community (Gami, J.P.) of something that I was at fault myself.
Not everyone knows what Lido is and exactaly what is being proposed. It is indeed a very large amount and at least some more information should be included on the prop. I believe on-chain proposals should have a minium standard of explanation, and this ain’t it.
That being said at this point we don’t need another proposal just to fix that. This is the best use case for receiving yield on the treasury with minimal risk and it doesn’t require active management.
Proposal 228 (Voting For):
Noggles Jack Tokyo
I really like this proposal! Very clear and well detailed explanations.
The delivarables are great and the ask is reasonable. Very Nounish, excited to see how it turns out.
Proposal 229 (Voting Against):
Federation
After reading this proposal twice, I must admit that I still do not fully understand it. I do not see how it adds value specifically for the NounsDAO and the costs are neither well-defined nor justified. Again seems just arbitrary.
I would like to know more about whether this is a tool that the community actually uses and needs upgrades for. This should have been included in the proposal. e.g. TNS provided very clear metrics that made it easier to understand their whole concept.
Proposal 231 (Voting For):
Nouns x Nifty Gateway - Global arts & culture curated project
Another great job on explaining the proposal. The only thing I'm a little cautious about is potentially paying too much before seeing the success of this initiative.
All in all, I think it can bring value and excitement into the ecosystem while being potentially self-sustainable. It's also great to see local artists being supported (shoutout to my fellow Brazilians @Ilustradora & @Desenhista for representing South America!)
Whew! That was a lot of proposals to go through, but if you enjoyed this newsletter, be sure to subscribe as I plan on continuing to do these.
And feel free to reach out to me on Twitter @lep0327. Have a great day! ⌐◨-◨