BanklessDAO Weekly Rollup #30: HumanDAO Partnership, DAOpunk Lore & Gitcoin Grants
Catch up with what happened this week in the BanklessDAO.
Dear Bankless Nation,
Happy Thanksgiving to our USA members! Even though it's a holiday for those in the USA, the BanklessDAO train does not stop! First off, BanklessDAO is collaborating with HumanDAO, a social impact DAO that aims to help the underserved by providing a job board, education center, and opportunity zone for the Metaverse. This cross-DAO partnership is an exchange of tokens, services, and talent.
Next, we’re featuring a piece of DAOpunk Lore submitted by Mortimer! Agatha’s story is a reminder of why many of us are on the Bankless journey: the pursuit of freedom. Congratulations to Mortimer for winning the DAOpunk Lore contest!
Finally, Gitcoin Grants Round 12 is opening soon with $1.5M of matching funds for projects! Among the projects seeking funding is the Bankless Academy. Even small donations can balloon to big matches through the magic of quadratic funding. But remember: Gitcoin will only match your donation if you verify your account. Round 12 opens December 1 and closes on December 16 at 12am UTC, so get verified, make your donations, and put BanklessDAO on the map!
Authors: BanklessDAO Writers Guild (EthHunter, Jake and Stake, siddhearta, Ap0ll0517, Trewkat)
This is the official newsletter of the BanklessDAO. You are subscribed to this newsletter because you were a Premium Member of the Bankless Newsletter as of May 1, 2021. To unsubscribe, edit your settings here.
🚨 BanklessDAO 🤝 HumanDAO Featured Partnership!
This week BanklessDAO and HumanDAO have formed a partnership around a shared mission: to help one billion people go bankless.
HumanDAO's mission is to improve human lives through crypto. It will do this by facilitating options outside local economies, connecting traditionally underserved communities to new opportunities in the metaverse.
HumanDAO started as a play-to-earn (P2E) guild and has developed into a mission-driven, social impact DAO, built on top of a revenue stream to provide longevity and foster growth. The promotion of P2E as an onramp to crypto in developing countries aligns with the Bankless mission and demonstrates a commitment to diversity, inclusion, and equality.
The bankless lifestyle is founded on the value of crypto-native experiences, alternative revenue streams, and financial freedom. It is the aspiration to move from being a CORPrat to a DAOpunk, from feeling stuck in your circumstances to opening a door to freedom and opportunity. The HumanDAO is structured to create equity opportunities for its members and emphasizes broad community ownership and participation. A scalable underlying revenue stream will create wealth for all members as the community grows, while remaining flexible to ride the waves of the constantly changing Metaverse. This is a community that creates opportunity for those on all rungs of the financial ladder to gain equity and shared ownership.
The partnership between BanklessDAO and HumanDAO will include bDAO receiving a total of five million HDAO tokens: 500K liquid HDAO tokens at launch and 93,750 HDAO tokens vested every month for 48 months after a one year cliff. HumanDAO will be utilizing the social weight of BanklessDAO to spread awareness, using DEGEN for POAP distribution, collaborating with builders and contributors, and will also have a prominent member of bDAO on the HumanDAO treasury multi-sig (Above Average Joe).
The result of this partnership is that we all move one step closer to achieving our mission. Together, we can not only help millions of people go bankless, but also be active contributors to building out the Metaverse and improving lives through crypto.
Learn more about HumanDAO.
Join their Discord and introduce yourself in the Townhall #builder-interest channel.
🏆 DAOpunk Hyype Lore Winner: Mortimer!!
After winning the Hyype competition last week with a strong show of amazing Lore submissions, DAOpunks decided to hold their own competition for Best Lore. Over a week, Discord members voted on their favorites and after whittling down the field, one came out on top. Congratulations Mortimer for your amazing winning lore found below!
Author: Mortimer
Growing up, Agatha's father regularly reminded her that, "Money is freedom! Why would want to trade it away?" Agatha took his advice to heart and stored her birthday and babysitting money safely in the bank. Then one day she found something for sale that would give her more freedom than money in the bank -- a beautiful little blue sedan parked down the street with a "For Sale" sign in the window. She spoke with the seller and negotiated a price, but when she stopped by the bank to withdraw the cash, the friendly teller had some bad news. "I'm sorry Agatha, your account is frozen. I can't give you the money." Agatha was confused and asked why her account was frozen. The teller's reply shocked her to the core. "I'm not allowed to tell you."
By the time Agatha was allowed to withdraw her money again the little blue sedan had been sold to someone else. Agatha stopped by the bank to withdraw her balance and close down the account. As the friendly teller handed over the cash, she asked, "Are you going to buy that car you were telling me about?"
"No, someone else already bought it." Agatha replied.
"That's too bad. So what are going to do with your money?"
"I'm going to set it free." With a quick smile, Agatha turned on her heel, nodded to the friendly security guard, and was gone.
BanklessDAO Weekly NFT Showcase 🔥
🧑🎨 Artist: Mostmeta
🏦 Auction Type: 99 Open edition
💰 Price: 0.015 ETH
This NFT is brought to us by Mostmeta, a talented claymation artist. As the story goes, the phrase “Let them eat cake,” helped spark one revolution. But in our Bankless money revolution we’re the ones who get to make and eat our cake! Red velvet cake in Bankless colors — mmmm.
Community Highlights
👟 Ghost Sneaker Launch by bDAO Brazil
Bankless Brazil is very happy to announce they have received a Grant from Aave and AaveGrants! To celebrate, they are launching an NFT to commemorate the occasion. It’s called GHOST Sneaker and showcases a pair of spinning sneakers on a playing card. Super cool for sure! They will be available November 29th on Polygon. Click HERE to head over to their Twitter and sign up for the whitelist to be among the first notified.
🧑🎤 DAOpunks Snapshot
The first ever Snapshot vote for DAOpunks is now live! This vote is to ratify the Interim Governance Framework. The Interim Governance Framework proposes that for each punk owned, said owner would be entitled to one vote. This initial framework is to be used on an interim basis for only the initial grants round, to ensure that the time period for issuing grants is not delayed while we finalize the governance framework. The Interim Governance Framework is set to expire on December 31, 2021, unless amended sooner upon ratification of the Final Governance Framework. Voting for this snapshot will end on December 1, 2021 at 1:39am PST, so cast your vote now!
🌉 BANK Polygon Bridge
The BANK token is now live on Polygon! The BANK token contract address can be found here. Now you can bridge your BANK to the Polygon PoS chain. This will allow for cheaper and faster transactions than on Ethereum, so bridge your assets to Polygon here: https://wallet.polygon.technology/bridge. And while you're at it, check out the BANK-ETH Sushiswap liquidity pool on Polygon!
What’s New?
🤖 DEGEN and Mad Hatter
DEGEN has had some major upgrades! We now have DEGEN who will be the core bot and serving up freemium services, and Mad Hatter, who will be serving up BanklessDAO specific services. Here are some highlights:
First Quest is now operating through Mad Hatter!
AFK is now operational in the DAO. Going AFK? This feature will notify users who tag you, and send you DMs with links to messages where you were tagged. To use this feature, type the following command in Discord: /afk
Timecard feature is now active in the DAO. If your project is looking for a way to better manage the time that team members spend on the work they do, look no further. To use this feature, type the following command in Discord: /timecard
Need a random draw for a decision to be made? Use the roll command! It will randomly deliver a number between 1 and 100. To use this feature, type the following command in Discord: /roll
✍️ BanklessDAO Medium
Catch up on the latest publications from the BanklessDAO Editing and Publishing Arm (EPA).
Get Involved
💸 DAO Compensation Study
DAO compensation is very important to us all. Gathering feedback about our feelings and attitudes towards this will allow compensation structures to evolve in a way that meets community expectations. The goal has always been to be fair and to keep the deep pool of talent happy and engaging in DAO life. The human element is one of the most important here at bDAO. Please take part by following the link and click on the .html file. After it downloads you will be automatically routed to the survey . Do not be alarmed by the file download. The team needed a way to get Google forms to do what was needed, and it required some custom coding. This should only take about 15min. Your feedback is anonymous and don't forget to fill out the space at the bottom for your FREE POAP!
🔊 #WhyWeDAO
BanklessDAO has designed a Twitter campaign to drive interest to the DAO, aiming to reach those who don't know how or why they should join. The campaign is a gateway to the voices of those who are active inside the DAO through a series of tweets with relatable quotes and stories about why we love this stuff! The campaign will run for the whole of Season 2 (through to January 7th) and we need more participation in this to really make an impact and grow the community! [Bonus - getting the members from other DAOs outside of BanklessDAO to share the #WhyWeDAO].
🤑 Opolis Sponsorship
Opolis is currently running a BanklessHQ sponsorship and offering a renewed "bounty" bonus to Bankless Nation. Joining with a January 1 start date earns you 1000 $BANK + 1000 $WORK. We have a goal to reach 300 members, and when we do, there will be extra bonuses to the BanklessDAO members that helped us get there! Stop by the #opolis channel for office hours throughout December to help answer questions and get folks onboard to earn the bonus. Please and thank you!
👥 Aavegotchi Bankless Gaang meetup
If you are a BanklessDAO member and are involved in the Aavegotchi ecosystem (or interested in being involved), join the Aavegotchi Bankless Gaang meetup! This meetup will focus on discussions for structuring a formal BanklessDAO presence, applying for funding, and future plans. Check out #aavegotchi-realm for event updates!
Where: Watercooler voice channel under the Discord category "General".
When: Saturday, November 27, 2021 (9am PT / 6pm CET / 11am CST / 12pm EST)
🙏 Sponsor: UMA — Diversifying DAO Treasuries. DAO Better.
Gitcoin Grant & Bankless Academy
If you’re not familiar with Gitcoin Grants, now’s the best time to learn and familiarize yourself with this project. This is such an exciting time because Gitcoin Grants Round 12 is opening December 1 and will close December 16 at 12:00am UTC. Gitcoin is a community of builders, creators, and protocols that are on a mission to build an internet that is open source, collaborative, and economically empowering. They play such a pivotal role in creating the digital public infrastructure of today and tomorrow.
Gitcoin hosts quarterly fundraising events for projects of all sizes and has a unique way of crowd-sourcing funds. First, a project submits a grant for approval. If approved, that project will be listed and able to receive donations. Donors then signal support for a project by contributing funds to the grant. This is the crowdfund round. In addition to donors’ contributions during the crowdfund round, a project can receive additional capital from a large pool of funds called the match pool through a technique called quadratic funding.
Quadratic Funding(QF) is a mechanism that ensures that projects most valued by the community receive the most funding. A simple explanation is that projects are awarded a percentage of the match pool based on the results of the crowdfund round. However it’s not quite that simple. An algorithmic formula is used to determine what percentage of the matching pool is allotted to each project. When a project gets popular enough, some pretty amazing matching multiples can be offered. Assume in the example below there are 5 projects in the crowdfund round and $500 in the match pool. Each project raises exactly $100 with different amounts of donors. Using QF, the match pool would be distributed as such:
Project 1 raises $370.27 with $100 from 100 donors and $270.27 from QF
Project 2 raises $235.14 with $100 from 50 donors and $135.14 from QF
Project 3 raises $154.05 with $100 from 20 donors and $54.05 from QF
Project 4 raises $127.03 with $100 from 10 donors and $27.03 from QF
Project 5 raises $113.51 with $100 from 5 donors and $13.51 from QF
This reinforces the incentive structure of QF as a fundamentally-democratic process. The projects backed most by the community receive the most funding. Since its launch in November 2017, Gitcoin has assisted more than 33,580 funders reach an audience exceeding 200K recipients. Gitcoin Grants Round 11 closed as the largest crowdfunding round in the history of Gitcoin Grants. Approximately 16K donors made 425K contributions totaling $1.59M! Combine that amount with $965K in QF funds, and a grand total of $2.5M was raised! Gitcoin Grants will open Round 12 with $1.5M of matching funds for projects looking to raise capital!
Round 12 is projected to exceed the unprecedented numbers Round 11 produced. Bankless Academy is one of the many projects looking to raise funds during this potential record breaking round. During Round 11, Bankless Academy received $5,446 from 1,571 donors and $3,903 matched from QF funds. This was the first time Bankless Academy was a participant in Gitcoin Grants and we were the one of the top awarded grants from our grant's category. We ranked 12th on the leaderboard, behind communities such as Decentralized Donations, The Daily Ape, The Defiant, and EthStaker! Not bad for our first time 😉.
Let's propel Bankless Academy to the top of the leaderboard and maximize our fundraising potential. We have over 16,000 members in the DAO and we need all 16,000 to show support. If you have ever benefited from being a member of the DAO, please donate a small amount to the Bankless Academy project. A $1 donation from many supporters can easily become a $6 sum with $5 of matched funds. If all members donated $1, with that matching multiple applied to every donation, over $96,000 could be raised! Navigate to the grant page to show your support.
Be aware that QF only matches funds from the match pool to donations from verified users. This is to prevent manipulation of the QF system through sybil attacks. The best way to prevent sybil attacks is through human verification. Verifying your Gitcoin account with some or all of Gitcoin’s identity partners will increase your trust verification score. If you don’t verify your account, your score will be 50% and none of your donations will be included for QF. This means that your donation won’t be matched. However, with each verification, your score increases. At 100%, your donations are eligible for QF matching.
Why stop at 100%? Maximize your donation’s potential and push your score to 150%! You have an awesome opportunity right now. Gitcoin Grants Round 12 opens December 1 and closes on December 16 at 12am UTC. There is less than 3 weeks to complete verification actions, and donate to your favorite projects.
🏛 Governance
Proposals in Discussion
🔀 BDAO Discord Channel Code System
Author: metamynx#1759
Proposed as a “Dewey Decimal System” for the DAO. The intent is to radically reorganize all the discord channels to make participation and navigation in the DAO far easier, as well as create a standardized naming convention system for future scalability. This would aide in making onboarding new guests and members friendlier, and navigating the DAO more intuitively, enabling a faster, more accessible path to participation. Please do review this proposal as there is some initial feedback indicating not all members feel this would be a helpful change.
🐧 Flipper.zone Project [2nd proposal]
Authors: @DavidBankless#4680, @gecko007#6813, yacht_tea_Ed#3789, volky#0001, Danizord#8892, hruday#8884
After the initial proposal, there was a need to revise the original put forth to the BanklessDAO regarding the funding request for the NFT project, Flipper.zone. Constructive comments on the initial forum post were considered, and they have worked to implement said feedback and create a more straightforward proposal which better highlights the team, tool, and finances. The second edition better demonstrates Flipper and also contains more attractive financials for the DAO. This proposal is by DAO members looking to create a revenue-generating project for the DAO. Head over to familiarize yourself with the changes made to allow for a well informed vote in the future.
🏫 Strengthening the Role of the Education Guild
Author: ManuelMaccou
This post is a proposal to create a clear identity and direction for the Education Guild. The mission is to enable Web3 community members to achieve a mastery-level understanding of Web3 concepts. The proposal outlines four areas of focus: provide support for educational projects and services led by other guilds, provide BanklessDAO operational knowledge to new members, provide resources to allow members to understand Web3 protocols and concepts, and help BanklessDAO members grow.
🤔 Reflections on L2 Vibe Check (November 18th)
Author: paulapivat
In this Forum post, paulapivat summarizes what many L2s have felt over the past few weeks: BanklessDAO is experiencing some (natural) growing pains. Paulapivat notes that IndexCoop's recent organizational shift may be helpful to BanklessDAO and echoes the need for an individual (or group of individuals) to focus on big picture issues, meta-governance, and the direction of BanklessDAO.
Action Items
🤖 Claim $ROBOT: If you have purchased any MetaFactory merch make sure to claim your ROBOT tokens!
💸 DAO Compensation Study: Help us figure out how to best reward contributors.
💡 Review Forum posts and proposals and add your voice to the discussion.
🏃♀️ 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 DAO treasuries are imbalanced, holding too many native-governance tokens. By using UMA’s success tokens and KPI options, DAOs can fortify their treasury, preparing for any market while building loyalty.
👉 Join the #bankless Channel in the UMA Discord.
👉 Tell UMA What DAOs you belong to.
👉 Verified Bankless DAO members can earn KPI Options. Go to the Discord to learn more.
