BanklessDAO Weekly Rollup #36: Season 2 Recap, Coordinape & a DAOpunk is born
Catch up with what happened this week in the BanklessDAO.
Dear Bankless Nation 🏴,
The holidays have come and gone, and it’s time to get back to building! It’s a New Year and we are heading into an exciting Season for BanklessDAO. This week we take a moment to look back at some of our accomplishments this past season, celebrating our success and highlighting some of our biggest projects.
As we head into Season 3 next week, we have a few more upcoming Snapshot votes, our monthly Coordinape round, and some important governance proposals in the works. Make sure to spend some time reading through the forum discussions and catch up on all the great content the Writers Guild has been pumping out on Medium as well!
Here’s what happened this week in the BanklessDAO.
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🙏 Thanks to our sponsor:
BanklessDAO Weekly NFT Showcase 🔥
🧑🎨 Artist: Abstrucked
🏦 Auction Type: Open edition
💰 Price: 0.03 ETH
“Beware of the Ultrasound Shockwave that Ethereum will deliver into this reality, for it will be a deflationary mechanism of wealth and freedom, one that will permanently change the structure of life.
We are the first to see and experience the effects of Ultrasound Money mechanics; by the time the rest of the world feels them, we will be enveloped by the amazing waves of economic fluidity and growth.”
💰 Coordinape December round
Coordinape is the name of the game this week! We have been having daily announcements to sign up, but if you haven’t submitted your form yet, please head over to 🤖bot-commands and type in
/coordinape form-request. The submission period will remain open until midnight EST on Friday, January 7th...so hopefully it’s not too late already. This round is open for Guest Pass, Level 1, and @Level 2 (Contributor). If you are unfamiliar with Coordinape or how we use it, please check out this resource.
Traditions always start somewhere, and this could be the start of a new tradition. Frogmonkee has penned what could be the first of many annual letters, wrapping up this past year and giving us a vision for where we are heading in the year ahead.
👨🏫 Polygon workshop
The Education guild organized an informative and practical Polygon workshop. They started with an explanation of what Polygon is, how to set up your Metamask, how to buy MATIC, how to bridge funds, NFTs, BANK, etc. They held two session which were well attended, but in case you missed it, here is a recording of the sessions and the course handout.
🚀 The new GMI index!
We are all gonna make it! BanklessDAO and IndexCoop have just announced the launch of the Bankless DeFi Innovation Index ($GMI). GMI utilizes an indexing strategy to offer broad, diversified exposure in a single token. The index will be represented by a fully collateralized ERC20 token and will be available for purchase on Uniswap v3, TokenSets, and more. Learn more about the GMI Innovation Index.
👩🎤 A new DAOPunk is born!
Crypto Bushi, Sinjun, and the DAOpunks team are experts at creating meaningful art. Just take a look at the new 1/1 DAOpunk for CityDAO. Beautiful visuals, music, and movement create the story of a better future.
This week Crypto Sapiens sits down with Yenwen Feng and Nick Tong of Perpetual Protocol about perpetual swaps, concentrated liquidity for derivatives, and scaling Ethereum on Layer 2 solutions. They cover Perpetual Protocol v2, aka Curie, and their choice to migrate from xDai to Optimism. Perpetual protocol is an on-chain DEX with highly efficient liquidity provisioning and up to 10x leverage for makers and takers. If you’d like to learn more about Perpetual Protocol, go to perp.com and on Twitter @perpprotocol.
The Forum’s category settings will receive a clarifying update, so we can keep discussion and proposal where they belong. As a result there are changes to the following forums:
Also, the Proposals category is being renamed to Grants/Funding and will be used specifically for things that require funding from Treasury or Grants
Fancy making some BANK? Fight Club’s NFT design competition is still live! Offering 10,000 BANK per winning entry, with two NFTs to be chosen, a total of 20,000 BANK is up for grabs. They are looking for fierce artwork, and we know our designers won’t disappoint! Submit your art here by January 12 and Fight Club will announce a winner over the following days.
Also, the Fight Club Education Webinar series is working to graduate DAO Capitalists who will go on to fulfill Apprentice Junior Analysts Role in Venture Capital in the DAOs. The webinar takes place on a biweekly basis, keep an eye out on the calendar to join our next one.
🤖 gm DEGEN
DEGEN is being replaced by DEGEN! The new bot is now active in the DAO with full blown POAP set up and distribution features across DMs and in-channel. If you want to automatically receive your POAP claim links in your DMs without having to use the /poap claim command, simply send a DM to DEGEN#3395 saying “gm”
🙏 Sponsor: Balancer.fi — Automated Portfolio Manager and Trading Platform.
Season 2 Recap
By: Freedom Fighter
We’re progressing at such a rapid rate that it’s easy to forget about all our accomplishments this past season. bDAO is still less than one year old, yet we have over 19,000 members on our server, an extensive range of guilds to suit all skills and interests, and our engagement numbers are exploding. We’ve all seen the number of people listening to our community calls, the new projects popping up all over, and the new people joining, contributing and leveling up.
As we ready ourselves for the next season, let’s take a moment to reflect on what we have achieved over the last three months.
The Rise of BANK
In October, within five months of launching, BANK became the most widely held social token, with 3,955 holders. The inflow of new members during the last few months of the year means that number continues climbing higher. Any guesses on which token is going to dominate 2022? LFG.🚀
Our Legal Guild published an extensive research paper that analysed the BANK token as well as the international legal environment. The 66-page document looks at the general legal considerations of digital tokens and also the differences in digital token law in the US, EU, and Asia. Our Legal Guild has been working hard to ensure we all stay informed and within the law.
🏦 Olympus Pro
BANK became available on Olympus Pro, allowing token holders to trade their BANK-ETH Sushiswap LP tokens for discounted BANK. One of the key benefits of this program is that it allows us to stabilize liquidity and it opens up a new revenue stream by earning trading fees from the liquidity pool.
If you’d like a more in-depth analysis of how Olympus Pro works and how it can support BANK, check out the BanklessDAO x Olympus Pro Snapshot Proposal.
With Ethereum gas prices through the roof, one of the best ways to cut fees is to move your tokens over to Polygon. This L2 sidechain’s transactions are cheaper and faster than L1. Bridge your assets over, avoid those hefty gas fees, and use your additional savings towards building your Bankless lifestyle!
🌐 State of the DAOs
Season 2 saw the creation of a lot of new projects in BanklessDAO. In early October, the State of the DAOs first went live. This bi-weekly newsletter updates our members on what’s happening in the world of DAOs and web3 in an easy-to-digest format. The latest monthly views of State of the DAOs stands at 12-14k.
👨⚖️ Decentralized Law
Later in October, we were treated to the release of Decentralized Law, our legal newsletter that keeps you updated on the latest legal knowledge related to crypto. In addition to its in-depth articles on legal and tax topics, the regular interviews with industry experts keep you at the cutting edge of what’s happening. Our latest figure of monthly views for Decentralized Law is 13-15k.
😂 The Rug
The Rug, BanklessDAO’s cooler, and 100% better version of The Onion, first brought smiles to members’ faces in mid-November. The satirical newsletter is free to read but also sells a limited number of NFTs for each edition. Keen readers claimed ownership of the very first edition and have gone on to read and collect them ever since.
Season 2 was THE Season for DAOpunks. The DAOpunks Manifesto was written as a liberation tract. Called by the siren of freedom, the Manifesto mobilized the masses and a community was formed around a mission to help people leave the soul-sucking drudgery of the CORPrat world to find meaningful work in DAOs. This mission motivated us and 1,111 DAOpunks NFTs sold out four hours into the 24 hour pre-sale.
Two weeks after minting, DAOpunks won the 2nd Hyype Alpha Race, despite having 1/10 as many NFTs and 1/20th as many holders as the typical NFT project. The Alpha Race showed the cryptoverse that DAOpunks were here to hype both the DAO and the NFT-space, and that they lead the way to fertile, verdant lands rich in opportunity and abundance.
DAOpunks held several snapshot votes to ratify a governance framework and became a DAO themselves. Working groups formed around Governance, Grants, and Treasury, and people have put in the work to move these foundational DAO documents to near-completion.
All DAOpunks NFTs came with a 1/1 tee shirt to match the NFT JPEG. Owners began to redeem these shirts around Christmas—an exciting innovation for merch and NFTs. DAOpunks collaborated with other DAOs, providing 1/1 Punks to help other DAOs build and spread their unique culture.
What does Season 3 hold? A newsletter and a podcast are in the works. More merch will be dropped. At a minimum, cohort_zero will receive grant funding. What’s next for DAOpunks? As this project’s short but impactful history shows, whatever they choose to do! Punk yeah!
🚀 GMI Fund
The Bankless DeFi Innovation Index (GMI) is a simple composite index including promising early-stage DeFi projects which are not yet considered “blue chip”. Announced at the end of December, the GMI Index gives everyone the opportunity to hold a diversified portfolio of some of the most promising Web3 tokens.
Here are all the currently listed tokens: Ribbon Finance, Alchemix, Tokemak, Convex Finance, Tribe, Olympus DAO, Dopex, DYDX, Abracadabra Money, Perpetual Protocol, Maple Finance, and Reflexer Finance.
This is our second index to be released on Index Coop. We also previously created the BED Index, which consists of an equal ratio of Wrapped ETH, Wrapped BTC, and the DeFi Pulse Index (DPI).
If you’re interested in finding out more about GMI, check out The Ultimate Guide to GMI.
🙋♀️ Talent Collective
October was a big month for bDAO! It also saw the launch of the Talent Collective, which flips the recruiting model on its head and pays the DAO when its members get jobs. What distinguishes the Talent Collective from other agencies is that the recruitment experts work for you.
Just submit your profile (can be anon!) and then the Talent Collective team, in partnership with recruiting startup Pallet, will connect you with the best opportunities in the industry. On top of this, for every recruit successfully hired through the Talent Collective, bDAO’s treasury receives additional funds.
The Talent Collective is open for profile submissions! And they are currently accepting L2s. So far, over 33% of L2s have submitted their profiles! If you are an L1 or a guest pass holder, you’ll require two sponsors to support your application — just tag those sponsors in #talent-collective to join or ask for a sponsor there. To get started, just head to the Discord channel and submit the application form in the pinned post!
🎓 Bankless Academy
Bankless Academy has been full steam ahead with their course development. They’ve been focusing on creating courses that will teach you the essential Web3 skills you need to get started.
Setting up a wallet for the first time and sending money to it can be daunting for beginners. But having a wallet and knowing how to use it is a crucial first step, allowing you to get more involved in BanklessDAO, DeFi, and the wider crypto space.
Luckily for us, our good frens over at Bankless Academy have been working hard developing their Wallet Basics course, which covers: what digital wallets are, what they allow you to do, and how to set up and protect your wallet to confidently get started on your Bankless journey.
Figured out how to use a wallet? Cool. The next step is learning about DeFi. If you are looking to diversify out of the banking system, start earning some real returns on your savings, and set up an investment portfolio, DeFi is where it’s at. Our Intro to DeFi course will walk you through the fundamentals.
Our first two seasons were all about setting the foundations. Season 2 was when we started taking things to the next level. We developed an array of new projects, all with the goal of helping onboard as many people as we can into crypto and DeFi.
In S2, we’ve seen subDAOs start to form, we’ve released a variety of new courses and products, our media channels continue to grow and flourish, and we’ve worked to stabilize our token and provide more opportunities for token holders.
But we’re barely revving the engine — in S3 we’re really going to hit the gas. With everything in place and with a legion of talented members onboard, y’all better buckle up ‘cos we’re taking off. Let’s Fly!
Proposals in Discussion
“Bankless UK” is planned as a specialized English-speaking node to create a local community and onboard as many people as possible in the UK to crypto. In general, there is a lack of tailored onboarding advice and relevant news flow for UK citizens, which acts as a barrier of entry to crypto. While BanklessDAO’s and BanklessHQ content is in English, it is mainly USA-centric. BanklessUK will focus on creating materials that are tailored to UK’s specifics, and help onboard UK citizens to crypto. Please check the proposal and vote!
This proposal talks about the revenue and ownership of BanklessDAO over the projects. As many of the projects within the DAO are maturing, decisions around how to structure their revenue, funding and overall governance becomes increasingly important. The proposal gives an inclusive list of different models that projects may adopt in reference to how it financially impacts BanklessDAO. These include the incubator model, department model and subDAO model.
This proposal is a partnership between BanklessDAO and DAODenver for a two-day conference in February produced by DAOists.xyz. DAOists.xyz will provide marketing services to BanklessDAO and in return, they are given non-exclusive rights to use the latter’s logo and certain annoucement privileges.
The Legal Guild would like to prepare a global tax guide (GTG) that provides a general introduction to virtual currency-related income tax laws for major jurisdictions. Access to the GTG will be granted by minting a BanklessDAO TaxPunk NFT. Anybody will be able to mint the NFT and access the tax guide for fee. The guide will be used to kick off Legal Guild’s tax consultancy for individuals, corporates, and other DAOs.
BanklessDAO is suffering from two main problems: contributor retention and strategic prioritization. This proposal to seeks to address these problems by having a dedicated team who will offer enhanced solutions. The team will consist of the five members elected as Governance Solutions Engineers. They will ensure that the community is empowered to make decisions and the contributors are justly rewards for their skills and efforts.
🚨 Snapshot: Vote on the current Season 3 proposals.
❤️ Follow on Instagram: Follow BanklessDAO’s official Instagram account and help us build a following there, so we can reach and onboard even more people to crypto!
🤖 gm DEGEN: Claim your POAPs by DM’ing DEGEN.
🙏Thanks to our sponsor!
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