This post dives into our experiment in composable governance in web3, the potential implications, and how our projects Nouns and SZNS contribute to this groundbreaking governance model. We also explore the interaction between different governance protocols and envision the future of web3 governance.
In our last post, we stated that “SZNouns is an experiment is governance”. Well what is that experiment? Today we discuss our experiment in composable governance.
Evolution of governance
Web3 returns ownership back to users. Crypto users have become protocol owners, and protocol owners have become protocol governors.
Looking back in history, we see parallels between web3 and property-based voting rights in the North American colonies. Back then, voting rights were based on the ownership of land. Eventually, those rights became the foundation of the most powerful and innovative nation ever. We believe web3 will enable even greater levels of human coordination.
Now, web3 is testing the boundaries of governance. SZNS is building next-generation tools to collect and govern NFTs. Nouns is building on a meme ⌐◨-◨ plus a protocol that governs a treasury using its memetic NFTs. These are different projects, with different protocols and treasuries.
But what if governance protocols could interact with one another?
Nouns is a CC0 meme ⌐◨-◨ and a governance protocol. In a virtuous cycle, the meme and the protocol support each other. But how can an organization plug themselves into such a virtuous cycle? SZNouns is an experiment to do just that.
We want to explore how brands can adopt and propagate memes. At SZNS, we will bootstrap the start of the community and extend the Nouns meme as a derivative. We will also “season” the Nouns meme (pun intended) by adding our own circle-glasses ◐-◐¬ (based on the SZNS logo ◐) and by interacting with the nascent SZNS ecosystem. We want to both adopt and propagate the Nouns meme by deriving our unique circle glasses ◐-◐¬ from the original meme ⌐◨-◨.
The first goal of SZNouns is to acquire Nouns and participate in Nouns governance. We also plan to fractionalize a Noun, purchased by SZNouns, in a SZNS album. So people can participate in Nouns governance via SZNouns by voting with their SZNouns NFTs and via album governance by voting with their album tokens. But what will this “networked governance” look like? How will the time frames of governance and communities interact and discuss with each other? These are the questions that we want to answer with our experiment.
The future we are building
Nouns harnesses the power of CC0 and open protocols. As the first web3 company to bootstrap its own Nouns derivative, we hope to pave a way for other organizations to plug themselves into the virtuous cycle of Nouns.