Bankless DAO Weekly Rollup #20 | September 17
Catch up with what happened this week in the BanklessDAO.
This week in the BanklessDAO: The Season 2 spec is Live on Snapshot! Check out the hot new Back to School Collegiate merch by MetaFactory, dig into an exclusive savings pool proposed by GoodGhosting, and learn about the new partnership with DAOSquare to bring Bankless content to the Chinese community. Be sure to check out our weekly NFT showcase and sign up for the Season 1 Coordinape round! All this and so much more!
Authors: Bankless DAO Writers Guild (BcEthHunter, Theophile, siddhearta, ClaySaysIt)
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: Grehale.eth
🏦 Auction Type: Open edition
💰 Price: 0.017 ETH
#1. To the Moon and #2. Block Explorer
Ethereum-inspired doodles by designer and tattoo artist Gre Hale.
"I'm just a humble doodler, trying to pinpoint moments from everyday life that I can find myself in, and maybe you can find yourself in them too. A daydream of prices rocketing to space, or a day of browsing the web and getting to grips with new aspects of the world around Ethereum."
Community Highlights
🚌 Back to School Collegiate drop: Our partners over at MetaFactory dropped some new Bankless merch! A "Collegiate Arc" hoodie that's a solid choice for campus or cafe, and an "Alumni" cap you'll want to rock every chance you get. Both are designed in that timeless campus style with bold Bankless collegiate script. Rep the set in style! Limited Sale window closes at 11:59PM PST on September 24th, 2021 and features 42% rebate in $ROBOT tokens. 🤖 Don't forget to add your ETH address!
🎂 The DeFi Pulse Index Turns 1! Index Coop is paving the way for diversified crypto index products and this week we celebrate the first year of $DPI. In the last year, 16,108 unique holders have minted a total of 568,510 units of $DPI and — as we all know — its 33% of our $BED index! So get into $BED to get exposure to $DPI. Here's to our shared future together with the Index Coop!🥂
🏆 Season 1 POAP winner: Congratulations @dumgen.eth, the winner of the Season 1 POAP design contest! The winning design will be distributed to everyone who votes for the Season 2 Snapshot.
🧑🎤 BanklessDAO commissions NFT with DAOpunksNFT: There are only 1190 DAOpunk NFTs available and they are dropping sometime in October. Keep your eyes peeled for announcements in the fast growing Discord (over 300 members at time of writing) and on Twitter.
🎓 Bankless Academy Gitcoin Grant: Bankless Academy has already received $2,308 in funding with estimated quadratic funding match of $5,091! There is still time to donate and make sure to increase your trust verification score to capture the QF match!
What’s New
🤝 New Partnership with DAOSquare: We are excited to announce a partnership with DAOSquare! DAOSquare is the most famous DAO in the East, dedicated to building an incubator based on the concept of Web3. That objective, coupled with the success and size of us here at BanklessDAO, will be used to build a better bridge between the East and the West. The collab will help build a robust Chinese community and bring Bankless’ quality content (Newsletter and Education) to that community in Chinese. More in store as well.
🌴 Attend the Permissionless Conference: Tickets just went on sale for one of the biggest DeFi conferences! Over 5,000 people will be attending in total and every two weeks 250 more tickets unlock. Once 250 tickets are purchased, registration closes and you’ll have to wait until the next release. Speaking of the next release, your next chance is on October 1st and prices are currently at $316. Speakers include our very own Ryan Sean Adams and David Hoffman, as well as many others. Join us on Tuesday - Thursday, May 17 - 19, 2022 in sunny Palm Beach, Florida for the event.
👻 GoodGhosting Pool: GoodGhosting is a DeFi savings game. Using its smart contracts you can compete with others and earn higher interest rates than saving by yourself. GoodGhosting has put forward a proposal to launch a BanklessDAO exclusive savings pool, with participation limited to members holding more than 35,000 BANK (or equivalent in LP tokens).
Get Involved
🍁 Submit Project and Guild Season 2 Proposals: Be sure to submit all proposals for Season 2 by September 27th. The Grants Committee will review the proposed budget and provide feedback before the proposals go to Snapshot from October 6-13.
🖋 Apply to be one of the Multi-Sig signers for the DAO treasury: This proposal would further decentralized the DAO by transferring ownership from the “centralized” genesis team to the DAO. Any DAO member (no guest passes) can apply by replying to the post. Please include your involvement in the DAO, reasons for application, availability and qualifications. Be sure to also include sponsors and members that will second your application.
🏦 Apply to be on the Grants Committee: The Grants Committee is looking for people from the DAO. They are responsible and accountable for managing the grants system, reviewing grant applications, and managing the grants treasury. Made up of 5-7 members along with a multisig. All committee members as signers. Apply by responding to the link.
🙌 Sign up for this season's Coordinape Round: This is a tool for DAOs to incentivize, reward, and leverage their community contributors. It helps DAOs to scale and provides transparency on where resources and contributions are being allocated. The deadline for this round is Sept 24th so don't miss out. Must be L1 or higher to qualify. Learn how it works.
🧐 Knowledge Sessions: Join us on September 21 at 12AM UTC with BogDrakonov who will be introducing Terraform — an infrastructure-as-code tool.
👋 BrightID Verification Party: Get verified to juice our Gitcoin Grant contributions. There is a BrightID meetup happening sometime this weekend, keep a look out in Discord to join the party and get verified.
🙏 Sponsor: UMA — Diversifying DAO Treasuries. DAO Better.
🍁 The Changing Seasons with BanklessDAO
A new dawn is on the decentralized horizon!
🚨Vote now for the Season 2 Spec!
Season 2 at the BanklessDAO will be ushered in on October 8th 2021. Seasons focus the energy of the bDAO and provide clarity around our collective priorities. The second season of the Bankless movement provides an opportunity for greater public education and increased coordination and support for seasonal projects.
One featured highlight of season 2 is a maximum budget of 20.5M BANK; a significant increase over Season 1’s 11M BANK. This creates greater possibility of intellectual diversity towards our central goal: to help the world go Bankless.
What to expect in Bankless Season 2
Season 1 had all guilds and projects being funded through the grants committee which managed and processed applications. The new paradigm for season 2 is a more progressive approach to decentralization. In Season 2, we are accumulating guild and project budgets and taking them directly to snapshot!🚨
On the topic of progressive decentralization, Season 2 will kick off with a treasury multi-sig refactor. When BanklessDAO launched, the multi-sig signers were selected by Bankless LLC. The DAO is now taking ownership of the treasury multi-sig, with a Snapshot proposal to select DAO-elected signers (Go VOTE)! You can apply to be a multi-sig signers on this forum post.
Looking forward to Season 2; consensus among members has led to three main priorities. These are:
A. 🤑 Hyper-focused on revenue-generating activities
We will double down on what works!
Through Season 1, the following revenue generation pathways emerged:
Metafactory partnership: This is a merchandise marketplace featuring Direct to Consumer product sales of decentralised themed products as well as niche artist & organization drops. We already have over 1,000 $ROBOT tokens in our treasury, currently valued at nearly $65,000 USD.
NFT Sales: Season 1 was rife with weekly NFT showcases and this effectively established BanklessDAO as a front runner in NFT discourses on popular media channels. With the rise in universal interest towards Non-Fungible Tokens; BanklessDAO is uniquely positioned to orchestrate auctions and further promote remarkable art pieces to generate revenue for organizational coffers.
DAO to DAO professional services: Considering the wealth of talent being attracted to the BanklessDAO, its implicit guilds are rapidly developing into stores of human resource wealth. This presents a ripe opportunity for specialized consulting work to be carried out by our guilds with pecuniary rewards accrued back to the DAO.
Software Products: Through internal guild mobilization, we are positioned to develop and commercialize software tools to generate recurring revenue opportunities. Already, DEGEN and Bounty Board are well past their early stages and are gearing up to go to market in due time.
BED Index: The $BED Index, a financial tool emerged as a full portfolio solution for investment interests. BanklessDAO will work with IndexCoop to turn $BED into a treasury diversification mechanism for crypto organizations, as we have done with UMA Protocol and Visor Finance.
B. 😁 Happiness and retention:
User onboarding and engagement: The success of Season 1 user engagement tactics such as #first-quest-membership, #first-quest-firehose, #first-quest-scholar, and #first-quest-guest-pass are to be extended to guild specific quests. This will facilitate a smoother process that encourages, engages and retains the great talent being attracted to our mission.
Compensation iterations: There is a focus on greater innovation and fluidity around approaches to compensation for resources within the DAO. If DAOs are the future of work, we need to rally around appropriate compensation levers that keep people happy, motivated, and aligned with Bankless DAO’s mission.
Exploration of Full-time employment: Considering the rapidly evolving and deeply valuable nature of role based work, it is inevitable that some roles become full time employment. These roles are typically those that provide critical support and must be retained effectively for the collective benefit.
C. ⚔️ Guild Specific Objectives:
Through Season 1, the self-sufficiency of guilds was largely established. Coupled with the in-flow of great talent, guilds are ideally placed to establish their own goals. The importance of this self-organization is to facilitate better operations and identify their own unique ways of supporting the DAO. These goals however must be supplemental to the DAO and not supersede major (DAO sanctioned) projects that require guild support.
As a recap of 🌞 Season 1:
BanklessDAO emerged to mobilize human capital under the banner of the bankless message. Through coordination towards established goals, the DAO maximized the value of individuals and larger entities to further the goal of helping the world #gobankless. As surely as starry night turns to glowing day, so also do we now march briskly into the day of BanklessDAO Season 2!
🚨 Live Proposals 🚨
🍁 Season 2 Spec is live on Snapshot: Voting opened for the Season 2 Specification. The Season 2 Spec is summarized in this weeks editorial, or you can read the full spec here.
💸 Transfer ownership of the treasury multi-sig: Since genesis, the Bankless DAO treasury multisig has been controlled by the genesis team. This is because the wallet had to be created before the DAO was launched and stabilized so that there would be a place to store the treasury. We are now midway through season 1 and the DAO seems to have stabilized enough to allow ownership of the DAO treasury multisig from the genesis team to the DAO.
Proposals for Discussion
🏦 Creation of the Tokenomics Committee: The following is a draft about the creation of a new committee. The Tokenomics Committee would have the power to research, develop, implement, supervise and adjust $BANK utility bolstering activities (via tokenomic and other methods) that would be approved by the overall DAO membership and supervised/audited by the Treasury Guild.
🎨 Creation of a Creative Council by the AV, Marketing, and Design guilds: This proposal is to assemble a Creative Council that will ensure that all digital assets are aligned with the Bankless DAO ethos. They would provide a playground that represents the Bankless brand. From tools such as a style guide, to structural frameworks for flow of work. It will maintain a cohesive look and set of standards to maintain a high quality product from all parts of the DAO.
🏔 First Quest Season 2 update: This update is about onboarding new members into the DAO and making it an easy, not-overwhelming experience for new people interested in the DAO. Have ideas or suggestions? Don't be scared to share. Read the original proposal here.
🐸🧠 Brain Dump#4: When & how do we scale? Frogmonkee lays out with clarity and vision how to get the BanklessDAO out of stealth mode by detailing five major spokes that we need to nail by the end of Season 2 in order to efficiently scale.
Action Items
🚨 Vote for the Season 2 Snapshot and the Transfer of the Treasury multi-sig.
🏴 Bankless Black flag: Fly the black flag to support the Bankless life.
💰 Opt In for Rewards: Sign up for the Season 1 Coordinape rewards.
📈 Level up: Increase your Gitcoin trust verification score to 150%!
💪🏾 Support: Make a small donation to the Bankless Academy grant on Gitcoin!
🏃♀️ 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.
