BanklessDAO Weekly Rollup #2 | May 14

Week two for the BanklessDAO and things are starting to hit their stride!

🏴 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.


It’s week two for the BanklessDAO! This week, things are settling; builders, curators, and facilitators are emerging; and the Genesis Team have penned their thoughts into a blog post.

As one member described it, the first week of the DAO was like running full speed in the dark. In Week 2, we lit a candle in the dark, but we’re still sprinting.

Let’s look at the ground we covered this week!

Authors: Bankless DAO Writers Guild: @paulapivat, @nerodrigo3, @totehoser, @siddhearta, @frogmonkee


Community Highlights


BanklessDAO’s First Community Call

Friday, May 14th at 11am EDT marked the first formal BanklessDAO community call. We’ll be continuing community calls every Friday at 11am EDT, as that seems to be the best time for many of us. For those that missed it, you can catch the recording on the BanklessDAO youtube channel.

The energy in the Discord was quite palpable. Ten minutes beforehand, the voice room had 25+ people. By the time it started, the call had over 100 participants with 170 DAO members tuning in at its peak. POAP badges were available to claim for anyone who attended as marker of their participation.

Ryan started the call strong, expressing that the DAO had exceeded it’s first-week benchmarks.

He used the phrase “failing forward fast” to describe what DAO members have been collectively experiencing in the last week but then reminded us that we’re all still “interns” at BanklessDAO. We’re all figuring out how to DAO together and that means keeping our mission of helping the world go bankless through media, culture, and education in sight at all times. Right now, distributing BANK to the people we promised, and curating our community to be the best it can be should be our top priorities.

After that, a variety of speakers gave us a brief look into projects they have been developing over the past week. We discussed priorities for Seasons 1 & 2, along with revenue streams. We got hyped on NFTs and Metafactory, BED index, and discussed possible growing pains like liquidity and onboarding talent.

Nearly two hours later, we still had well over 100 members on the call and plenty of Q&A afterward with project leaders and prominent community members.


What’s New

We had our first Community Call. 170+ people at its peak! This was our first of many calls that will be open to Discord server users. Going forward, we will have meetings on Friday at 11am EST. If you missed the call, check it out on the BanklessDAO youtube channel or read through the meeting notes under #community-call-notes in Discord.

We’re selling merch with MetaFactory! Collaborating with artist Sinjun, BanklessDAO and MetaFactory will be creating some dope Bankless swag. This is one of the many revenue streams that RSA/David & Co as BanklessHQ are passing on (read under #On-Chain Revenue) to BanklessDAO to manage. How cool is that? That’s the DAO version of Vitalik donating 1 billion USD to India COVID Relief. Apparel drops will occur monthly, with the first drop on May 17, 2021. Follow @banklessDAO on Twitter for the latest news. Proceeds from Merch sales will go to the BanklessDAO’s Treasury.

We have a Wiki! To help organize information, we created a Gitbook as a one-stop shop for community members to navigate the productive chaos of Bankless DAO. The Gitbook is still very much a work-in-progress, but is a great place to start onboarding with Where to Get Started, What are Guilds, and a Link Library.

Make BANK with us - Making $BANK Podcast. Catch up on the last week in BanklessDAO with Making Bank. We talk to the creators and community of BanklessDAO, the world's first media and culture DAO. This week features  @AboveAverageJoe, a community moderator. Joe is one of the OGs. Everyone loves Joe. Everyone


Live Proposals

[Passed] Allocation of CMS Holdings Donation: Since the Bankless podcast hosted Udi Wertheimer, and we learned about ‘hyper sound money’, a donation has been made. Last week, we were voting on where we would like the donation from CMS Holdings to land. As a DAO, we cast our votes in our second proposal, and the donation will go to Gitcoin! The $100,000 will go towards their mission supporting an open source internet for all. 

[Passed] Badge Based Distribution for Second Airdrop: Earlier today (Friday May 14th), BANK holders passed a proposal that changed the distribution method for BANK that had been previously allocated to members. Instead of relying on “unique emails” as a measure of engagement with BanklessHQ, 87M BANK will be distributed to 2020 and 2021 Bankless Badge holders as of 5/31/2021 at 11:59pm UTC.

Proposals in Discussion

Discord Channel Transparency: Information asymmetry based on hierarchical positions is NO BUENO💩 Early growing pains have pigeon-holed BanklessDAO into using existing and widely-available communication technologies (i.e. Discord) which do not align well with the DAO’s decentralized nature. In other words, we have “Level 2” channels that “Level 1s” don’t have access to. This is by accident and has been slow to change because of temporary PII in some Level 2 channels. Strong community leaders have come forth to propose a way to lower barriers to communication.

Bankless Constitution: In order to further the Bankless DAO’s values and vision, we have begun to formalize a set of guiding principles for ourselves. This constitution will help us hold associated media-nodes to our standards and ensure they are aligned with our goals. Read, weigh in, or suggest changes to the proposed constitution.

DAO Stickers and Merch Proposal: DAO member @Thrift has created a proposal to create an official online bankless merchandise shop. Pricing would be affordable and all proceeds would be directed to the treasury. For more information check out the proposal and weigh in on the discussion on Discord in the #dao-merch-shop channel.


Action Items

  • Action: It’s not too late to collect your Bankless badge! If you haven’t done so, you have the ability to pick your 2020 & 2021 badges up until May 31st. You can do so here. Once you do, be sure to stop by the discord channel to introduce yourself.

  • Level Up: Spend some time on Bankless DAO Gitbook! It has valuable information that will get you started with the DAO, get you up to speed on guilds, how governance works, and provide extra resources.

  • Questions: We all have lots of questions and we created a FAQ document to address the most common ones. 


Meme of the Week