Lean in to Community | BanklessDAO Weekly Rollup
Catch Up With What Happened This Week in BanklessDAO
Dear Bankless Nation 🏴,
This week’s Rollup begins with a well-deserved congratulations to our new L2 members who have made exemplary contributions to the mission of BanklessDAO. As we navigate the crypto space, we are guided by our aspiration to empower people, both here at the DAO and in all of web3.
Keeping our common goals in mind, BanklessDAO's guilds and departments should be aware that the deadline of November 11 for Season 10 funding requests is rapidly approaching. Check out the new seasonal funding templates to prepare your funding requests for the upcoming season.
In this week’s editorial, trewkat reminds us that the “DAO community is our greatest strength; it always has been.” As we come into year three of the longest bear market in crypto history, we need each other more than ever, even if we can hear the stomping of the bull around the corner.
Have a great weekend, and see you again next week!
This is an official newsletter of BanklessDAO. Please subscribe and share to help us grow our audience as we fulfill our mission to build user-friendly crypto onramps.
👍 Sign up for the BanklessDeSci virtual unconference.
🎙️ Tune in to the Onchain Privacy AMA to improve your onchain privacy.
🧑🏫 Join the New Joiner Session on Monday, October 30 at14:00 UTC.
Proposals in Discussion
Aftеr a rеcеnt assеssmеnt and community temp check, thе Grants Committее has voted to introducе somе updatеs to improve thе sеasonal funding procеss for S10. Hеrе's a quick ovеrviеw of thе changеs:
Grant Rеquеsts: Moving forward, grant rеquеsts can only bе submittеd by contributors at thе L1 lеvеl and abovе.
Projеct Funding: Plеasе notе that projеcts arе no longеr еligiblе for sеasonal funding.
Guild Support: Guilds will now rеcеivе a consistеnt wееkly hourly grant, accompaniеd by a signaling Snapshot.
Dеpartmеntal Rеquеsts: Dеpartmеnts arе now rеquirеd to incorporatе a purposе statеmеnt along with Kеy Pеrformancе Indicators (KPIs) in thеir grant rеquеsts.
Thе BanklеssDAO trеasury currеntly holds 1,935 FEI obtainеd through a rеsеarch grant. To mitigatе risk, it is rеcommеndеd to transition from this stablеcoin into USDC. This stratеgic movе aims to еnhancе thе sеcurity of thе DAO trеasury. To cast your votе on this proposal, plеasе visit the Forum.
Lean in to Community
What does it mean to you to be contributing to BanklessDAO? What is your ‘why’?
The chatter this week about an imminent return to bull-market conditions has been a welcome relief, but what does this mean for BanklessDAO?
It means we will keep on doing what we do. Our agreed mission is to help the world go bankless by creating user-friendly onramps for people to discover decentralized financial technologies through education, media, and culture. As the bull market returns (and it will), we need to be ready for an influx of new contributors who are excited to join the bankless movement, but we must also stay focused on our values and steward the DAO towards resilience and stability.
These are the values articulated by the earliest ‘OG’ members of BanklessDAO:
We learn from each other. We seek to become a trusted guide that empowers people all over the globe to adopt decentralized finance by sharing accurate, truthful, and objective information.
We operate transparently and build trust through radically public discourse and financial auditability.
🌐 Decentralized Governance
We put decision making into the hands of the collective. We create legitimacy through an environment where the best ideas win.
We reward action and embrace risk. We empower our community to continually drive new initiatives by providing a space to self organize and quickly move from idea to action.
Banking On Our Mission
The most recent Forum announcement by Grants Committee introduces some changes to the seasonal funding process which are intended to refine the outflow of BANK from the DAO Vault.
I say refine, not reduce, because the idea is for us to be more intentional about the allocation of BANK to support the activities of the DAO, to think critically about how each request helps us to fulfil our mission.
The DAO community is our greatest strength; it always has been. Listening to OG’s describe the first months of the DAO’s existence, you can hear the enthusiasm and vibes to just get out there and build those onramps! The bear market has definitely dented those vibes a little, and over time, a parallel narrative about ‘getting paid’ has crept in. As concerns about the treasury runway grow, the drive toward bringing in revenue has shifted the focus from creation, culture, and community, to compensation, contributor alignment, and taking a cut.
BANK represents governance rights at BanklessDAO. Anyone contributing time and effort to this DAO should be doing so fully aware that it is primarily on a volunteer basis, and the reward is governance share not financial. Of course BANK can be converted to a small income, but that is not its purpose and the DAO does not have the means to pay everyone a living wage. Any income from swapping BANK or receiving other tokens is an added benefit to the learning and community benefits offered by the DAO in return for effort, and not something people should ever rely on.
Whether the bull enters the arena this year or next, the BanklessDAO community is something we can lean into. Lean in for education — bDAO content is abundant but what makes it even better is that we can bounce ideas off each other in meetings and discussion threads. Lean in for support — we all lead very different lives but due to our shared values we have instant and lasting connection. Lean in for the mission — find your ‘why’ and let that guide your contribution.
Let’s lean into Season 10 in 2024 with a renewed focus on what we can achieve, together.
Bankless Card will be launching this November in the U.S.!
Bankless Card redirects payment card fees to your favourite web3 communities. To support your DAO and earn social tokens, stay tuned for the Bankless Card Loyalty sign-up form. Include on the sign-up form what country you are located in, and your country may be the next country to launch!
Rachel Rose hosted this inspiring chat, joined by bDAO legends Icedcool, Above Average Joe, links, and NF Thinker. Catch up on the convo about BanklessDAO initiatives, ETHDenver, and PizzaDAO in this recording.
🧑🏽⚖️ Ethics and Regulation in the Crypto Space
Regulation seems to be enforcement by nation states when an industry shows a lack of ethics and self regulation. As crypto grows in the mainstream eye and begins to have its own affects on finance and market movements it becomes ever more important to weed out the scammers and rug pulls before they hit the whole space with over-reaching regulations that harm the good with the bad. In this week’s episode, we dive into some recent developments as well as future speculation and some hope of where we'd like to see it go.
🗳️ DAOStewards Update
DAOStewards have voted against the latest proposal of VitaDAO (VDP-121) to mint up to 10% of the total token supply. The reasoning behind this is that minting an additional 10% takes the total mint to 50%. This has the potential of causing market instability, risking the interests of existing token holders.
⛴️ BanklessDAO Content
On-chain privacy is one of those topics in the web3 space that needs to be understood by everyone, as it is very important to protect sensitive data from inquisitive eyes while ensuring that transaction validation and other network security measures remain intact. Join us on Wednesday, November 1 for the first in our Onchain Privacy AMA series with our hosts NF Thinker, and Jaris James with special guests from Secret Network.
Next guests include: idOS, Nym, Modulus, and Aleph Zero.
Take part in the New Joiner Session to learn more about BanklessDAO and how to get involved. You will meet mentors who could guide you on your journey into DAO life and other new joiners who may become fellow travelers. This session will be held on Zep. Please put your Discord Handle as your display name (e.g. Quietfox#2574), and be prepared to share a little about yourself.
RSVP to have Zep meeting details emailed to you nearer to the event, which will be held on Monday, October 30 at 14:00 UTC.
Sesh is a bot for organizing calendar events and setting up polls on Discord. If you want to learn how to use the sesh bot to organize in Discord, then please join the Education Department on Tuesday, October 31 at 14:00 UTC in the watercooler voice channel.
Collab.land is a Discord bot that manages token-gated channels and roles. It includes functionality to verify whether a user owns a given digital asset necessary to enter a given channel or have a certain role. Join us on Wednesday, November 1 at 14:00 UTC in the watercooler voice channel to learn more.
Praise allows community members to openly acknowledge and appreciate each other's contributions through simple peer-to-peer messages called praise statements. These statements recognize efforts both big and small, creating a transparent record of community participation. To learn how to appreciate folks within the DAO using the praise bot, join the Education Department on Thursday, November 2 at 14:00 UTC in the watercooler voice channel.
Ethereum Costa Rica Day on November 18 will be a day full of activities, including talks, workshops, conferences and spaces dedicated to networking. This event aims to introduce new users, developers, enthusiasts and entrepreneurs to the world of blockchain and Ethereum, focusing on education, experience and community consolidation.
Perchy will be there to talk about how NFTs are uniquely able to help artists build and unite communities around their artwork.