Join NOUNS At Your Own Risk; a note on v3 for prospective members
v3 of Nouns (prop 356) implements a standing bid at the protocol level to buy back a block of Nouns ≥ the 'forking threshold' (20% of circulating supply at time of execution) with an equivalent % of the treasury's fungible assets.
While this may offer you opportunities to exchange your token for some Eth (and other DAO assets), it also enables, under certain conditions, other Noun holders to bypass the proposal process and partially or fully drain treasury assets, resulting in possible total loss of funds.
The Foundation veto and/or exiting (by signaling an interest to join a block sale) will not be able to prevent this in all cases. Please review and understand these risks prior to joining the DAO.
Join NOUNS At Your Own Risk; a note on v3 for prospective members
v3 of Nouns (prop 356) implements a standing bid at the protocol level to buy back a block of Nouns ≥ the 'forking threshold' (20% of circulating supply at time of execution) with an equivalent % of the treasury's fungible assets.
While this may offer you opportunities to exchange your token for some Eth (and other DAO assets), it also enables, under certain conditions, other Noun holders to bypass the proposal process and partially or fully drain treasury assets, resulting in possible total loss of funds.
The Foundation veto and/or exiting (by signaling an interest to join a block sale) will not be able to prevent this in all cases. Please review and understand these risks prior to joining the DAO.
