BanklessDAO Weekly Rollup #5 | June 4

⚠️ Season 1 Alpha Leak 🤫 Community call #4 ended with a proposed roadmap for Season 1, narrowing down what the DAO's priorities will be in the upcoming season. Get the full details from this slide deck, read the notes, or watch the video.

Authors: BanklessDAO Writers Guild (authors: siddhearta, frogmonkee, FrankAmerica, gno.thyself)

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Community Highlights

Tracking $BANK holders over time: There's a new dashboard from the Analytics Guild to track the total number of addresses holding $BANK over time. What happened on the 28th? 🕵 The "labels" feature in the dashboard helps us distinguish between regular traders, borrows, collateral suppliers, and the DAO treasury.

Sovereign Health: Sovereign Health is the first DAO membership perk. Join the free 3-month beta test with dozens of workout programs and wellness initiatives tailored to your needs and goals. 💪🥙🧘 Check out the intake video and sign up today! For support visit the #sovereign-health channel.

Guild POAP Design Competition: There is nothing like a little POAP [po-app] design competition to spice up the Discord channels. Check out these POAPs by the Design Guild, Dev Guild, and Writers Guild. Have an idea? Read more here.

Nugget News: BanklessDAO made an appearance on Nuggets News. For his May 2021 recap, Nathan wrote: Bankless creates a DAO and tokenizes. Increasing participation and discussion of the Social Money narrative.

What’s New

Onboarding MVP: The Education Guild is leading this multi-guild initiative in building out a roadmap 🧭 to help one billion people #gobankless. Check out their Notion wiki page and get involved in helping to design the user experience, building out content, or working with the Dev Guild to problem solve implementation. 👷

PieDAO liquidity rewards program: Our friends over at our favorite wealth creation DAO are boosting liquidity 🌊 for their indices and governance tokens with competitive APRs. 📈 In particular, their DOUGH/WETH and PLAY/DOUGH pools are capturing massive returns at 290% and 370% annually! 😲 Become a liquidity provider with this link and get your DOUGHpamine hit! Not sure how? Read this guide. (Psst, the DAO earns referral fees!)

Discord bot: The Dev Guild is working on building a Discord bot. 🤖 The possibilities are endless. If you want to get involved in the project, please fill out the application. Neuralink Discord bot, anybody? 🧠

BanklessDAO Blog: Make your voice heard! ✍️ Submissions are open for the upcoming DAO blog. Any topic is welcome as long as it remains within the realm of the DAO (organization, governance, etc) or cryptocurrency in general. We look forward to your submissions and thank you for your contributions!

Season 1 Roadmap

This week's community call was 🔥 Probably the most exciting call since Community Call #1. After a flurry of guild updates to recap the week, the call turned towards a Season 1 Roadmap. All of this is just a proposal and will change slightly.

Primary goal for Season 1: is to complete the Onboarding MVP. This requires teaching future de-fi users to a) create and use a Metamask wallet, and b) interact with the AAVE protocol. The target market for onboarding (admittedly an anachronistic term - perhaps upstreaming) are people who already have money on centralized exchanges, like Coinbase, Kraken, Binance, Gemini, and who have heard of de-fi but are unsure of how to begin the process. The DAO sees this type of character-portfolio as the ideal candidate; someone who is already primed for crypto-interest and looking to delve deeper, expanding their digitally-native skill set. This is an inter-guild operation that will require most guilds to have a champion (representative) that can shepherd their portion of the puzzle across the finish line.

Secondary goal for Season 1: is to generate a steady stream of revenue from:

How things get done: To achieve funding for a season one must SCOPE it- define the scope of work. Assign champions who are responsible for shouldering their end of the operation. The real process here is to bounce your idea off a small cohort of people in an appropriate guild or channel. Start a little fire in a few places and see who likes the heat. If you feel yourself building consensus, you then ask about interest in a forum proposal. From there people can comment, tweak, amend and further discuss your idea. If the forum proposal goes over well, it'll be discussed in a community call. And if there is a galvanized sentiment of approval, the proposal can be put to a snapshot for an on-chain vote.

Grant committee: Between each season, a Grants program will be active and fund projects that weren't proposed or outlined in the kick-off proposal for that season. This enables flexibility and adaption within funding cycles. The grant committee will initially be centralized (gasp!) around 5-7 voted members.

Proposed Funding for Season 1: 11M $BANK TOTAL. 5M $BANK will be deployed for projects approved by the Grant Committee in the inaugural season. 5M $BANK will be split up across each of the 12 guilds and 1M $BANK set aside for contributor awards. If this proposal achieves consensus it will be implemented.

Governance objectives: The DAO will explore different governance frameworks throughout its lifestyle, beginning in Season 1. We don't know what will work and we have to remain open to better solutions. The DAO will also continue to evaluate on-chain governance mechanisms, while remaining open to discovering new governance elements within said systems. Ultimately, Season 1 will generate a roadmap to achieving fully on-chain governance integration.

Next Steps: Season 1 will begin the first week of July. A formal proposal will be on the forum June 7th. Deliberation will take place June 7th-June 11th with a final review during the next community call, June 11th. This will allow us to generate a Snapshot with a 1 week voting period, June 14-21st. Finally, we will continue strategizing and begin Season 1 officially at the start of next month.

Proposals in Discussion

  • Rewarding Season 0 Active Community Members: In order to retain talent and say 'thank you' to everyone that has worked these past four weeks, this proposal will retroactively distribute 1 million $BANK based on a fair voting method available to any DAO member. Join in on the discussion and vote!

  • NFT Subscription Model for Non-Members: There is a lot of interest in level 0 discord channels in joining the DAO. At the moment only people that hold 35000 BANK can be full members. This proposal would grant access to people that want to engage in Discord and actually be part of projects by issuing them a one-month NFT subscription. Check out the discussion forum and cast your vote!

Action Items

  • Claim: The second BanklessDAO airdrop is now available to be claimed by all eligible Bankless 2020 and Bankless 2021 Badge Holders. 💰

  • Listen: To the third Making $BANK podcast where we talk news, governance, the upcoming retro airdrop, and more! 🎧

  • Catch Up: On this week's community call. Read the notes or listen to the recording.


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