Nounlets
nounlets.wtf
What Jamie wrote
I've dove into the Noun ecosystem at some length. I have a Lil Noun, a couple of Foodnouns, some YOLO Nouns, etc. But the original Nouns that sell one a day, still go for 60-90 ETH ($80,000-$120,000 USD) which is pretty wild to me. The project also has a 29,092 ETH ($41M USD) DAO treasury and only 447 DAO seats at the moment.
Lil Nouns is a way to engage in Nouns DAO at a lower price point since the DAO owns 7 Nouns. So, with my 1 Lil Noun I have 1 out of 6,293 votes that then controls 7 out of 447 votes in Nouns DAO. So that is 0.0158% of Lil Nouns voting power, to control 1.565% of Nouns DAO votes. So my 1 Lil Noun is 0.0002473% voting power in Nouns DAO.
Nounlets are a totally different approach. Nounlets take a Noun in NounDAO and you can buy a voting right in that Noun. You only by 1% voting rights, so the Noun is divided up into 100 and each lot is sold. Interestingly, 1 Nounlet gets you 0.0022% voting power in Nouns DAO, or 10x the voting power of 1 LilNoun. LilNouns go for 0.15 ETH minimum. Nounlets are going for about 1 ETH. About 6x the cost, for 10x the voting power.
I’m honestly not all that sure what to make of all of this, but I find the process of exploring it very interesting.