Bankless DAO Weekly Rollup 18 | September 3
Catch up with what happened this week in the BanklessDAO.
Visor Finance gets comfy in $BED with BanklessDAO! The first among many, Visor Finance has minted $100,000 USD in BED to diversify their treasury - with other projects in the pipeline. (P.S. Select BanklessDAO members are eligible to claim the $SWPR airdrop!)
Authors: Bankless DAO Writers Guild (BcEthHunter, siddhearta, frogmonkee, & cart_collector)
This is the official newsletter of the Bankless DAO. If you were a Premium Member of the Bankless Newsletter as of May 1st 2021 you have been subscribed to this newsletter at launch. To unsubscribe edit your settings here.
BanklessDAO Weekly NFT Showcase 🔥
🧑🎨 Artist: Perchy
🏦 Auction Type: Open edition
💰 Price: 0.025 ETH
Resident DAO artist Perchy is back again and ready to show us around the Bankless Nation🏴. This week we will be taking a trip to Mount Doge.
Mount Doge National Park is a playful oasis where warring crypto tribes set aside their differences and embrace civility. Whether you want to play with doges, delve deep into the Dogemines, watch the Dogestorms roll in across the plains, or buy some dank memes, there is no debate: Mount Doge is the place for you.
Mt. Doge has some honored guests today! (No, not Elon Musk. He’s always here. We can’t get him to leave).
🎅 Tunsky107.eth, a glowing spirit of generosity, rains BED Index tokens upon happy collectors.
🧟♂️ Kouros, our Bankless DAO treasurer and NFT auctioneer raids NFT tombs in his off time.
🤺 Popa V, the best lefty swordsman in all the land, deftly defeats a hapless rookie in the visitor area.
Community Highlights
🎉 Permissionless DeFi Conference: Bankless LLC is partnering with Blockworks to throw the biggest DeFi conference of 2022. All your favorite people will be there. Tickets are currently sold out for the opening price and will reopen in two weeks at a higher price. The next sale will be Sept 15th, get yours before they go above $2k! For our Bankless Premium family, there is an additional 30% off.
🛌 September in BED Giveaway: Index Coop and BanklessDAO have partnered together to celebrate the first month in BED. Contestants are eligible to receive up to $3000 in prizes and are encouraged to use seven different ways to enter. Winners will be randomly selected on September 9th.
🤖 Claim ROBOT from MetaFactory: MetaFactory released their latest rewards for purchases made before August 19, buyers get 42% of purchases back in ROBOT! Guess who is number one again for ROBOT claims this past month? BanklessDAO received 562.973 ROBOT ($43,300 USD)!🔥 Props to Sinjun and MW for all the work they do with MetaFactory!
🏆 Winning Logo design for the Bankless Academy: Congratulations to Timigraphicks for the winning design! Timigraphicks is a guest pass member and claimed the grand prize of 10,000 BANK this week, filling his bags up to full membership status at 35,000.💰 This is DAO life! Notable mention to @Dane for the runner-up design entry.
What’s New
🎙 Tuesday Talks with Gitcoin DAO: Join us on Tuesday, September 7 at 12pm Central time in the Members-Only stage for a Crypto Sapiens event hosted by Humpty Calderon! We will be joined by Kevin Owocki, founder of Gitcoin, to discuss the launch of Gitcoin DAO, what are public goods, quadratic funding, and Sybil resistance.
✈️ $SWPR Airdrop for BanklessDAO participants: It pays to be in crypto! If you've voted on at least two BanklessDAO Snapshot Proposals BEFORE JULY 1st, you're eligible to claim $SWPR before the end of the year! SWPR is the governance token for the SWPR dApp. PLEASE DO NOT DUMP THESE TOKENS! We're being given a fantastic opportunity to get involved in other projects without any cost. If we can vote with our tokens on projects like Swapr, token drops could be a regular membership perk for the DAO! It's a win-win for all!
Get Involved
🚧 DAO Dash Project: The Analytics Guild has a new DAO Dash project to collect your data and provide insight on your project. Reach out to paulapivat and the team for more info.
🤔 Knowledge Sessions: Knowledge Sessions are 30-minute sessions held biweekly on a variety of topics and interests. The next session is Tuesday, September 14.
💻 Solidity Training: Interested in learning Solidity? Head into the #solidity channel and join a learning cluster. Check out all the resources available! 💾
🙏 Sponsor: UMA — Diversifying DAO Treasuries. DAO Better.
Visor Finance leads the way with treasury diversification
Visor Finance, the DeFi protocol for Active Liquidity Management, is leading the way in productive treasury management. Visor recently minted $100,000 USD worth of BED tokens to diversify their own treasury, becoming the first protocol to diversify their treasury using BED. Every protocol and DAO holds a variety of assets in their treasury, and the BED Index represents an efficient way to gain exposure to Bitcoin, Ethereum and the DeFi Pulse Index all in one asset.
Visor Finance aims to solve the complexities around providing liquidity and liquidity mining on Uniswap v3. Bankless readers are familiar with the challenges of providing liquidity on Uniswap v3. Although more capital efficient, Uniswap v3 requires liquidity providers to manage the price ranges of their liquidity, and if the prices of the underlying assets go out of range, then the LPs no longer earn fees.
Liquidity providers using Visor Finance mint a Visor Vault NFT and deposit the base assets of an LP pair into their Visor Vault. Visor Finance then actively manages those assets on Uniswap v3 by setting price ranges and implementing rebalancing strategies developed by their research organization Gamma Strategies. Additionally, Visor collects fees and re-invests those fees back into the LP position on behalf of its liquidity providers.
Visor recently released its enterprise-level tool suite called Visor Phantom that adds a liquidity mining layer on top of Uniswap v3. LPs using Visor can deposit the base assets into their vaults and subscribe gaslessly to a DeFi project’s liquidity mining program.
Visor Phantom may also be used by DeFi projects to actively manage their own treasuries or funds received through grants. Most recently, Flipside Crypto’s Uniswap grant proposal proposed using Visor Phantom to generate yield on a UNI grant to fund operations without actually selling the UNI tokens. Many DeFi participants lauded the novelty of using the yield on treasury tokens or grant funds to fund external operations as opposed to immediately selling those tokens upon receipt.
Lastly, Visor Phantom allows DeFi projects to co-manage their liquidity positions with Gamma Strategies. This includes having the ability to develop more customized liquidity providing strategies on Uniswap v3.
With Visor Phantom, DeFi projects and DAOs are empowered to effectively manage their own treasuries. One day in the very near future, treasuries could be using Phantom to co-manage their liquidity positions on the Uniswap v3 BED/ETH pool.
In a world of first movers, you need to make sure to get your rest, and there is no better place to rest than in BED. 🛌
Proposals in Discussion
🌱 Seed Club External Media Node: Seed Club is a DAO that builds and invests in tokenized communities, and is the content and production provider for the Seed Club podcast. Together with BanklessDAO, we will launch a new show, focusing on DAOs, Web3, social tokens, and NFTs that leverages BanklessDAO's media infrastructure and Seed Club's knowledge of the cryptosphere.
🧑⚖️ Early Proposal for Legal Identity: This proposal would make the DAO a more defined Legal identity. More accurately, the DAO would be the combination of three legal entities. Primarily an LLC partnership, a non-profit Corporation, and a Member Coop.
🍁 Season 2 is coming: Lucas provided his feedback and insights into Season 2 planning this week. Season 2 starts on October 1 and there is a lot to plan, prep, and execute over the next few weeks. This is a must-read for how we are going to double down on revenue-generating activities, promote happiness and retention, and deliver on guild-based objectives.
📖 Bankless Book Club: Many of us are already doing our own reading and research on many topics related to crypto. Book club aims to combine the pool of knowledge, wisdom, and interests of all members into a regularly scheduled book club. The Book Club encourages members to take a group approach to learn and study Blockchain Tech, from simple, enjoyable topics to full deep dives into fundamentals and the various layers of the stack.
Action Items
🤖 Claim your $ROBOT: Claim your ROBOT rewards for purchases made before August 19.
📚 Read: The Future of DAO Law: Building Beyond the States by Eaglelex.eth
📋 Do you work for a DAO?: Take the GitcoinDAO and BanklessDAO survey.
🏃♀️ Catch up: Review this week's community call notes or listen to the recording.
🙏Thanks to our sponsor
UMA
UMA helps DAOs build products to diversify their treasury. Most DAOs treasuries are imbalanced. By using UMA’s range tokens, KPI options, and call/put options, DAOs can prepare their treasury for any market.
👉 Join the #bankless Channel in the UMA Discord.
👉 Tell UMA What DAOs you belong to.
👉 Earn KPI Options. Go to the Discord to learn more.
