Bubbling Up Better Proposals | BanklessDAO Weekly Rollup
Catch Up With What Happened This Week in BanklessDAO
Dear Bankless Nation 🏴,
Shout outs and cheers! What better way to end an amazing week in the ever-strong bDAO community! It was deeply moving to see it rain appreciation at the Community Call, with several contributors giving praise for the great work done this season.
DAO Dash v2 is now live on the BanklessDAO Discord server. Bankless Academy has launched on-chain credentials and had its funding proposal on Optimism approved with 95% votes in favor! Meanwhile, the Bankless Card project is sizzling hot as it progresses to the pre-launch phase.
Bankless Africa remained relentless at ETHSafari, making connections and building relationships with several organizations in Africa. DAOlationships is still offering BANK for each submission to the List of DAOs. Speaking of rewards, don’t forget to sign up for the October Coordinape round.
In this week's editorial, theconfusedcoin looks at JokeDAO and its novel approach to governance processes; using a community-focused, bottom-up approach, the hope is that great ideas will bubble to the surface. Read on to find out how we are currently testing out this platform at BanklessDAO.
Wrapping it up, congratulations to all our L2 nominees this week: Lany, Vickyone, Oge, Sprinklesforwinners, and Gcal. Thanks for your efforts so far!
Planning for Season 6 is in full swing — see the timeline below — so let’s keep the gratitude going and close out Season 5 with a smile.
Contributors: Warrior, WinVerse, theconfusedcoin, anointingthompson1.eth, Kornekt, d0wnlore, Feems, Paulito, Lanksss, HAshBrown27, Liquidiot, siddhearta, Trewkat, HiroKennelly, Dippudo
This is an official newsletter of BanklessDAO. To unsubscribe, edit your settings.
🙏 Thanks to Our Sponsor
MetaMask Institutional
Today there are close to 5,000 official DAOs revolutionizing the structure of traditional organizations and giving ownership back to builders and creators.
However, new structures breed new challenges. In the spirit of web3, we seek to overcome these challenges together.
On November 3, join experts from MetaMask Institutional and the ConsenSys Cryptoeconomic Research team as they share best practices and lead breakout sessions around core DAO ops problem areas including governance, treasury management, payments, community engagement and development.
Across these rooms expect to discuss the following topics:
The ‘hierarchy of needs’ around treasury management
Creating an investment policy statement for your DAO
What is decentralized identity (DID) and how to erect DID systems with your DAO
DAO governance and legal ramifications
DAO tokenomics
Popular web2 and web3 DAO tools
👉 Register now.
🗓 Weekly Recap
Community Highlights
📺 Weekly Rollup Recap With Liquidiot
This week, the fun continues with Liquidiot and WinVerse recapping the last Weekly Rollup into a five-minute video. These clips are available via the BanklessDAO YouTube channel but we love them so much we are happy to include it here for your viewing pleasure!
☀️ GM Bus-tember
The GM Bus team is driving across the U.S., stopping at different locations (schools, events, conferences) with the goal to educate, inform, and evolve the crypto narrative by visiting people around the world.
Here’s an update on where the GM Bus stopped, what the team has learned, and where it’s headed next.
Stops in September:
DWeb Camp in Navaro, CA.
MCON in Denver, CO.
SmartCon 2022, NYC, NY.
One Deep Breath Meetup, Tulsa, Oklahoma.
Voyage to the Caverns, Pelham, Tennessee.
Where is the GM Bus heading next month?
Cactus Hackalong, Arizona State University Campus in Tempe, AZ from October 25-27.
What are the top questions people have?
What is the GM Bus?
What is crypto?
What is the purpose of the Bus?
What token should I buy?
Is there more to crypto than investing?
What was the GM Bus team’s biggest learning this month in talking to people?
We’re encountering resistance from normie folks, boomers, and people who seem satisfied and well-established.
What is the selling point for people not interested in a financial revolution?
Activating people, not convincing them of what we have to offer.
Five years easily mental model, then 20 years for envisioning the future.
⏰ Season 6 Timeline
It's that time again! Here is the official timeline for our transition to Season 6.
S6 Funding Requests Due: Friday, October 14.
Department/Guild/Project Funding Snapshot: Friday, October 28.
Season 6 Spec Snapshot: Friday, October 28.
S5 Ends: Sunday, October 30.
S5 Gap Week: Monday, October 31 through Sunday, November 6.
S6 Starts: Monday, November 7.
S6 Funds Disbursement: Monday, November 7.
S6 Kickoff Twitter Spaces Event: Friday, November 11.
In Season 6, the DAO will be transitioning to member-based funding for Guilds, so please plan your funding requests accordingly. For project funding requests, it’s business as usual.
📚 Bankless Academy Launches Academy Badges
Along with amazing opportunities, the web3 space comes with its own challenges. The journey of Bankless Academy has been no exception. Earlier this year, upon launch, the platform suffered a sybil attack, aka ‘farming’, which left real Explorers without the recognition of lesson completion. After months of intense work, team collaboration, and endless feedback, Academy Badges are the result - and are now LIVE.
You’ll ask, what’s the difference now? They are sybil resistant 😉.
Academy Badges are on-chain credentials claimable upon lesson completion. Powered by Mint Kudos 🎉 and defended by Gitcoin Passport, Badges commemorate your Bankless journey on chain 🚀. Claim them now at www.banklessacademy.com.
After successfully going through each Academy Lesson, you, as an Explorer, will be able to:
Verify your uniqueness with Gitcoin Passport.
Claim soulbound Academy Badges from Mintkudos.xyz on Polygon.
Gitcoin Passport is a Digital ID built by Gitcoin using Verifiable Credentials to confirm identity authentications from across the internet without storing personally identifiable information 🔐. It's safe, reliable, and easy to use ✅.
In order to recognize achievements and claim your Badges, you can collect various identity attestations, called stamps, from web2 and web3 authenticators like ENS, BrightID Project, or Proof of Humanity.
This release is a breakthrough moment for the Academy Ecosystem, setting the precedent for the scalability of the platform, and thus, the opportunity to educate and recognize the learnings of more Explorers, around the globe 🌎.
Get yours now at www.banklessacademy.com 👩🚀.
💚 ThriveCoin Partnership
ThriveCoin’s goal is to make it easy for diverse communities to recognize their members for the value they create.
ThriveCoin has launched a partnership with BanklessDAO through which bDAO contributors have the opportunity to earn crypto, on-chain thanks, and chances to win exclusive BanklessDAO NFT prizes. Connect your wallet and social accounts to be rewarded for your previous contributions. This opportunity ends on October 20, 2022, after which the prizes will be distributed.
#️⃣ WeAreDAO
This week we turn the spotlight onto senad.eth. Konnichiwa and arigato gozaimasu, Senad!
What is your favourite DeFi protocol?
I don't really have a favourite one but I do enjoy using Balancer to add liquidity to the ETH/BANK pair and Across Protocol to bridge assets from network to network.What is your favourite ice-cream flavour?
Hazelnut!!!!!Which of the NFTs that you own is your favourite?
Probably my custom Chippi, Pharaoh Atem, designed by the one and only Perchy!
Where would you love to travel to?
Japan!What did you aspire to before you discovered crypto, and has that changed at all?
It's very hard to be a full-time student and work in DAOs at the same time. I wanted to do my PhD at some point but I'm not quite sure anymore.
That’s it — short and sweet! We’d love to have more of our members featured in Kat’s Roll Call! Please drop by and answer the questions via this form, and keep consuming the Weekly Rollup goodness.
Upcoming Events
Our amazing Legal Guild will be back with a new Spaces LIVE discussion on Tuesday, October 10 at 18:00 UTC. Join the discussion with LeXpunK_Army, LexDAO, Rotorless, bestape, and AndresDovale1. Set your reminder and we’ll see you there!
Fresh Content
🎙 BanklessDAO Podcasts
🧠 Crypto Sapiens Podcast
🌍 Bankless Africa
💰 Making Bank
🏹 Bounty Hunter
✍️ Bankless Publishing
🌏 Bankless Africa Newsletter
🗞 The Rug Newsletter
Get Involved
📅 Ibiza NXT Conference
The giveaway for the Ibiza NXT conference, which is planned for October 13–15, is currently active. There are two free tickets available. To participate, click this link.
Learning Opportunities
🎁 DAOlationships Juicebox Demo — Programmable Treasury/Funding Protocol
Juicebox is the programmable funding protocol for builders and creators, light enough for a group of friends, yet powerful enough for a global network of anons. It’s community owned and built on Ethereum for DAOs, crowdfunding, NFT projects, indie creators, and builders. Join us for another DAOlationships demo on Wednesday, October 12 at 19:30 UTC in the watercooler channel to see exactly how Juicebox works. To set a reminder, RSVP to the event.
🤖 How to Sesh Session
Sesh is a bot used to create calendar events and set up polls in Discord. Do you want to know how to register and get your events on the sesh calendar? Do you want to know how to create events, polls, etc.? Join 0xZfi.eth on Tuesday, October 11 at 13:00 UTC in the watercooler voice channel to gain insight on how to make use of sesh. To set a reminder, RSVP to the event.
🛡️ How to Wallet/Security Session
If you want to learn about how to be safe in the web3 space with respect to your wallet, then this is that opportunity. Paulito will be conducting a How to Wallet/Security session in the watercooler voice channel on Wednesday, October 12 at 13:00 UTC. To set a reminder, RSVP to the event.
🗄️ How to Gnosis Session
Gnosis Safe is a smart contract wallet running on Ethereum which requires a minimum number of pre-designated people to approve a transaction before it can proceed. Join Ernest_of_Gaia for a session on how to use Gnosis Safe, to be held in the watercooler channel on Thursday, October 13 at 13:00 UTC. To set a reminder, RSVP to the event.
Bubbling Up Better Proposals
Author: theconfusedcoin
For many DAOs, keeping the community active and engaged for a sustained period of time is a challenge. New contributors initially participate with gusto but sometimes lose interest if they feel their voice is being crowded out by contributors who’ve been around longer and amassed a reputation and more of the governance token. The DAO’s priorities can tend to move in the direction outlined by these contributors, even at times resembling publicly listed companies where decisions are usually driven by the largest shareholders.
DAO governance also suffers from a lack of dialogue. Proposals put up for discussion usually attract a few brief responses. Discussion and debate is the essence of a thriving community and without this growth stagnates. At bDAO, we have a mechanism to invite suggestions on Forum proposals but the medium begs for improvement. Comments are sometimes pushed to the end of the page beyond view. Anonymity is difficult and causes contributors to shy away from giving valuable feedback at the risk of sounding stupid or going against the crowd.
During initial stages of a DAO, decisions taken by key stakeholders are beneficial, but as the DAO grows, the systems need to evolve. At BanklessDAO, we are at that inflection point. Key contributors have helped steer the ship to get us to this stage. The time has come for the community to take up the baton for the next leg of growth. To start this next phase, the idea is to check DAO-wide sentiment and understand what areas the community wants to prioritise. Usually this would mean a few contributors writing up proposals on which the DAO community votes yes or no. These methods were, at times, producing lopsided results. JokeDAO is a new governance tool that is aiming to change this by trying to involve the DAO’s entire community in the decision making process.
What Is JokeDAO?
JokeDAO is a platform that helps DAOs implement decentralised governance in a fun and gamified way. The platform can be used for grants, endorsements, bounties, contests, giveaways, ideation, roadmaps and a lot more. The crucial difference with JokeDAO is it takes a bottom-up approach and focuses on getting each member of the community involved in a DAO’s decision making process.
How Does It Do That?
Let us explain this with an example. Imagine bDAO wanted to diversify their treasury. Usually, the Treasury Guild would come up with what they feel is the best option and put it to a ‘yes or no’ vote. In JokeDAO, rather than voting yes or no on one of the options, all of them can be put to the community for a vote.
When a new proposal is created, JokeDAO allows you to create a voting token specifically for this event. 10 tokens can be allocated to each member and then they can decide on how to further allocate these to the ideas they most resonate with. Since tokens are allocated irrespective of the amount of BANK you hold, voting cannot be influenced by whales. This ensures that members who are most active have an equal say in the decision making process and the result can’t be swayed by the largest token holders.
This Twitter thread provides further information how the JokeDAO platform can be used, along with this one:
What Is bDAO Doing?
At BanklessDAO, we are always seeking ways to improve governance. The latest collaboration with JokeDAO is an effort to try and further democratise our decision making process. To test the JokeDAO platform out, we are running a contest that will hopefully help us understand what the community feels the DAO should prioritise.
To participate in this process, all BANK holders were airdropped BVOTE tokens on the Polygon network. Each BANK holder received 100 BVOTE tokens irrespective of the amount of BANK they held. This mechanism helps limit the influence of whales. Over the course of one week, each token holder had the opportunity to submit one topic they feel is the most important priority for BanklessDAO moving forward. The community can now vote with BVOTE tokens to support one or several proposals.
The timeline of the contest is as follows:
September 30 at the start of CC: Submissions open.
October 7 at the start of CC: Submissions close and voting starts.
October 14 at the start of CC: Voting closes.
October 21: High level data shared with the BanklessDAO community.
The first round is a trial run to gather responses and use the results to create a strategy to use JokeDAO for governance proposal sentiment in the future. Proposals that might benefit from this bottom-up approach can be placed in JokeDAO, helping us move to a more democratised form of governance.
As the DAO grows bigger, it is even more important to ensure that decisions are not overly influenced (knowingly or unknowingly) by a handful of members. Governance is complicated and the only way to involve the entire community is by making it simple and fun. Through JokeDAO, we have an equal opportunity to really have a say in what the DAO should prioritise moving forward. Theodore Roosevelt said, “In any moment of decision, the best thing you can do is the right thing. The worst thing you can do is nothing.” Let us not waste this by saying nothing.
🎣 Phishing School
Authors: d0wnlore and the InfoSec Team
Understanding Your Risks for Devcon
Many BanklessDAO members will be congregating in Bogota for Devcon in a few days, and just like any large capital city there are risks involved for travelers. Many people have come out with useful tips and guides from both sides of the spectrum to help those going to Columbia for the first time.
But as we have mentioned in Phishing School before, implementing all the possible ways you can reduce your digital and physical security risk may leave you burnt out. Purposely looking like a beggar or leaving an active security camera in your hotel room may not be appropriate responses to helping you enjoy your time in Bogota, even if they may increase your security posture.
A better approach is to understand the risks that are applicable to your unique situation and environment, then apply the ways of mitigating those specific risks (while making tweaks that fit your ideal way of enjoying Bogota).
“Absorb what is useful, discard what is useless and add what is specifically your own” - Bruce Lee
We can better answer this approach by going through a security exercise called Threat Modeling, which was first talked about back in February.
To reiterate the four key questions to ask yourself when coming up with your own threat model:
What do I need to protect and why?
Whom do I need to protect it from?
How likely will I need to protect it?
What are the consequences if I fail?
By answering these questions you better understand your own unique situation going into Devcon. You can use this knowledge to decide on the security practices you should incorporate that reduce the likely risks and sources of anxiety for you, while leaving out the ones that are unnecessary.
So what does using a threat model look like in practice? Take the practice of locking up your possessions in your hotel room and having an active camera watch over it. You may be considering this as you don’t know who would have physical access to your room storage, especially in highly trafficked areas like a hostel. Should your possessions be stolen you may not only lose part of your wealth but also the means of enjoying your time in Bogota or returning back to your home country.
But does this situation apply to you? What if the possessions left in your room are not valuable and are stored in an environment where there is some assurance that fewer strangers and opportunistic thieves may come across them, such as a luxury chain hotel with keycard elevator access? Then the likelihood that your possessions will be stolen may be far lower. Then you can consider foregoing allocating the time, money and effort needed to implement the lock and monitor security practices mentioned above.
You can also apply threat modeling to yourself as a person. As we are all affiliated with web3 and crypto, there is a non-zero chance that we need to protect ourselves from those targeting such groups. Knowing this you can then consider the security practices that reduce this risk, such as not wearing crypto merch in public amongst strangers.
That is all. Enjoy Devcon. Enjoy Bogota. Enjoy being amongst your frens and come back rejuvenated to continue buidling.
🏛 Governance
Proposals in Discussion
🤝 bDAO Website Project Handoff
The new website is up with a new design and content. FRAGstack, now morphed into Supercluster Labs, will develop and provide updates independently of the website project. Project lead 0xJustice is stepping back from the project and has nominated MantisClone as the new website project champion. He’s a capable dev and a trusted face around the bDAO community.
🗣 Open Discussion About the Future of the Guest Pass
A large part of the value our social DAO brings is the ability to participate in the Discord. Our current guest pass system is is infinitely renewable leading to a lack of value capture and retention. This proposal offers ideas for monetizing our Guest Pass without limiting access to our organization. Drop in to learn more and share your thoughts.
💳 Bankless Card Pre-Seed Funding Request
Since the last update in April the Bankless Card project team has been hard at work. Over the past five months the team has refined their playbook and pitch decks, met with both Visa and Mastercard, applied to become a Delaware legal entity, and grown to more than 25 contributors. Bankless Card’s ask in this proposal is for 4,405,020 BANK. Click here for a progress report, detailed breakdown of the ask, and to explore recent comments and responses.
✅ Action Items
✍️ Sign up for October Coordinape. Go to #bot-commands and type /coordinape form-request.
💚 Connect: ThriveCoin promises a chance for bDAO contributors to win prizes.
💪 Participate: Be a part of the ongoing discussion on the future of the bDAO Guest Pass.
🏃♀️ Catch up: Review this week's Community Call notes or listen to the recording.
🙏 Sponsored by MetaMask Institutional
🤣 Meme of the Week
Thanks 0xBlockBoy!
