BanklessDAO Weekly Rollup #7 | June 18

BanklessDAO came out swinging this week after successfully passing the $BED Index with @Indexcoop. On the back-end, we've taken Season 1 on-chain.

Authors: BanklessDAO Writers Guild (siddhearta, ap0ll0517, frogmonkee, gno.thyself, frankamerica)

This is the official BanklessDAO newsletter. 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.


Community Highlights

๐ŸŽงMaking $BANK podcast: Listen to the fourth episode, with Icedcool, where we talk facilitation, coordination, tokenomics, dev guild, and the history of pirates.

โš•๏ธ Sovereign Health podcast: Episode two with EliteViking and Nonsense! Discuss the parallels between health and wealth, and how the principles and strategies of building wealth apply to living a healthy lifestyle.

๐Ÿ“– Beacon Book Giveaway: The Bankless community has been gifted one physical copy of the Beacon Book, a catalog of perspectives from dozens of ETH2 researchers. Claim your raffle entry and you could be the winner of this very special collector's item. ๐ŸŽ‰

๐Ÿ”ฅ NFT Drop: This week's NFT Showcase features Satoshi's Mom, a talented pixel artist with a love for all things Ultra Sound. If you're lucky enough to grab both Ultra Sound Ryan Sean Adams๐Ÿฆ‡๐Ÿ”Š and Ultra Sound David Hoffman๐Ÿฆ‡๐Ÿ”Š then check your wallet for a nice surprise.

Whatโ€™s New

๐Ÿ“ˆ Onboard Survey: Last week we featured a sneak peek into the Onboard Project and shared the survey that RedVan and MrPackman put together. With over 200 respondents, we had some fascinating insights (e.g. skews young, 25-34, mainly in the US). See what else the Analytics Guild uncovered here & here. The survey is still open and respondents are still eligible to be entered into the 1,000 BANK raffle until 6/20!

๐Ÿต Coordinape Distribution: A pool of 1M $BANK set aside for Season 0 contributors will be distributed next week. Participants are using Coordinape, an on-chain social game, that all members can participate in. If you filled out the submission form, follow these instructions to opt-in. You must opt-in to receive tokens.

๐Ÿฐ Exploring DAOHaus: The Legal Guild, Research Guild, and Developer's Guild are concurrently exploring DAOHaus as one of many possible governance frameworks. Check out some of these use cases!


๐Ÿฅง Join the PieDAO liquidity rewards program on ๐Ÿฃ Sushiswap! Our friends at our favorite wealth-creation DAO are boosting liquidity ๐ŸŒŠ for their indices and governance tokens with competitive APRs. ๐Ÿ“ˆ In particular, their DOUGH/WETH and PLAY/DOUGH pools are capturing massive returns at 290% and 370% annually! ๐Ÿ˜ฒ Become a liquidity provider and get your DOUGHpamine hit! Not sure how? Read the Rewards Guide for step-by-step assistance to provide liquidity to PieDAO.


It's ๐Ÿ›Œ BED Time!

If you havenโ€™t heard, itโ€™s time to get in ๐Ÿ›Œ BED! Voting ended on 6/12 and the IndexCoop community passed the Decision Gate 2: Bankless BED Index with a resounding 95% approval rate. Over 254k INDEX tokens were used to ๐Ÿ‘ support the proposal, compared to the 11k ๐Ÿ‘Ž that opposed it. (Fun fact: Quorum for this vote was accidentally set at 15% of circulating supply and not the traditional 10% but we still crushed those numbers.)

IndexCoop and BanklessDAO will split streaming fees ๐Ÿค‘ which will generate revenue for the DAO! BED will be weighted equally between BTC, ETH, and DPI and will rebalance the first Friday of every month.

Now that it has passed, we wait for the product to launch. Implementation and marketing efforts are currently underway. Twitter started buzzing about the BED Index earlier this week. From celebratory tweets to congratulatory retweets, there are already ๐Ÿ‘€eyes on this.

Over-analyser started a forum discussion for BED liquidity mining, suggesting some strategies to consider when implementing the mining program. Will users be able to stake their BED LP tokens to earn BANK? Or INDEX? Maybe both? Who knows what will happen. All we know is, itโ€™s ๐Ÿ›Œ BED time!

๐Ÿšจ Live Proposals ๐Ÿšจ

BanklessDAO Season 1: After weeks of diligent work, BanklessDAO is ready for Season 1! The full specifications - linked in the Snapshot vote - detail what Seasons are, their funding mechanisms, operational practices, and include special considerations for Season 1. It's a hefty piece, but, if passed, it will be one of the most important proposals ever passed.

Proposals in Discussion

Bankless VC DAO and Alpha Wallet: Leverage the BanklessDAO brand, media platform, and purchasing power to enter into early-stage deals/investment opportunities and create investment opportunities and revenue streams for the DAO Treasury. Check the discussion in #alphawallet for more.

BanklessDAO Legal Entity: The Legal Guild proposed researching the implications of establishing a legal entity, both in the United States and Switzerland. Underlying this research is the question of whether we need a legal entity at all. A floated consideration is that it may be better to wait as opposed to chose incorrectly early.

Action Items

๐Ÿต Distribute GIVE tokens: Don't forget to allocate your GIVE tokens if you have signed up for the Season 0 Coordinape Distribution.

๐Ÿšจ Vote: BanklessDAO has entered the WRITE race. ๐Ÿ Please vote to get us onboarded to publish on Mirror. Voting opens next Wednesday!

๐Ÿƒโ€โ™€๏ธ Catch up: Review this weekโ€™s community call notes or listen to the recording.