Spotlight on Fight Club | BanklessDAO Weekly Rollup

Catch Up With What Happened This Week in BanklessDAO

Feb 10, 2024

Dear Bankless Nation 🏴,

It's the second month of the new year, and there are more recent developments taking shape. The DAO is pushing hard and rising in its efforts to build a strong and reliable community.

First, we need to congratulate the latest members of the Grants Committee. Thank you coffee-crusher, anaphant, UXMcEal, and fabiancrypto for stepping up to handle such a delicate role in the DAO. We look forward to the valuable addition you will bring.

Crypto Sapiens keeps shipping! This week, they released a new pod on Onchain Alpha, discussing blockchain data for the new economy with Covalent. Speaking about blockchain data, Fight Club recently launched a monthly newsletter and February’s theme is on web3 databases. More on their recent developments in this week’s editorial.

Are we finally moving forward with legal? Following the discussions around branding and legal entity, the Legal Guild organized an AMA for the community. This roundtable discussion provided the community with basic education on the legal options and potential challenges for bDAO regarding incorporation. With the pros and cons of various options highlighted and a free Marshall Islands DAO LLC offered by TheThriller, we are excited to gather feedback from the community.

There are a lot of positives from this week and we are glad to be on this journey. Let’s continue to shape our future. Have an amazing weekend!

Contributors: Boluwatife, Lucent1, Apotieri, Tonytad, Warrior, Paulito, Vi-Fi, Kornekt, WinVerse

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.

👍 Subscribe to the Fight Club newsletter.

🎙️ Listen to Crypto Sapiens latest episode.

🏃‍♀️ Catch up: Review this week's Community Call notes or listen to the recording.

Proposals in Discussion

📃 Rescind the Snapshot Vote for the S10 GC

This proposal seeks to rescind the just-concluded GC election Snapshot vote due to the notable uncertainties surrounding the future of the DAO's brand, structure, and contributors, with potentially significant changes looming on the horizon. Also, the fact that only one member from the previous GC will continue into Season 10, coupled with the absence of GC experience among the Season 10 applicants, raises concerns about the effectiveness of the incoming committee. It was said that completing the current election could pose a risk to the DAO's stability until a clearer path forward is established. We welcome your thoughts and feedback on this matter on the Forum.

👨‍⚖️ AMA: Legal Entity for BanklessDAO

Just a quick heads up, the AMA already happened. However, discussions are still ongoing. The proposal aims to separate the HQ and DAO as brands, establish guidance on brand usage, define the relationship between the DAO and the HQ, and propose creating a legal entity for the DAO so it can enter into a brand agreement with the HQ. As the DAO regulatory framework doesn’t offer any simple copy-paste solution, there is a need to understand and weigh in on the various available options.

Spotlight on Fight Club

Author: Boluwatife

Innovation is not always easy, but it is always necessary. Therefore we at BanklessDAO applaud builders and innovation in the web3 space when we see it. Fight Club is one such unique brand.

Founded in 2023, Fight Club is a brand that is a brainchild of contributors at BanklessDAO. Much like Crypto Sapiens, Bankless Academy, and more, Fight Club is an idea that blossomed after building talent and spotting gaps in the web3 industry.

Fight Club Investment DAO is BanklessDAO's investment arm, which has a goal of democratizing web3 investing and elevating communities using web3. This brand runs syndicate deals for its members and demo days for projects looking to showcase what they have built to a global web3 community. It is all about growth and pushing the web3 ecosystem further.

Fight Club Newsletter

More recently, they launched a newsletter named ‘‘Fight Club Newsletter’’. This newsletter boasts a monthly issue covering trending investment themes in web3 and featuring reviews of early-stage projects.

Fight Club provides an in-depth yet accessible look into the bleeding-edge trends, applications, and paradigms emerging in blockchain today. Each edition focuses on an intriguing theme at the frontier of web3 innovation, outlining key concepts, players, and trajectories that readers need to know.

This is a fairly new endeavor; as seasoned veterans know, it is beneficial to get in early. At the time of writing this editorial, the Fight Club newsletter has released its third issue with the theme: Web3 Databases.

It discusses how the emergence of web3 is highlighting the limitations of current centralized database solutions — tech giants like Oracle, Microsoft, IBM, and Amazon dominating the database market with over 80% control, and how their closed, siloed systems force users to relinquish control and security of their data.

Decentralized databases offer an alternative model — peer-to-peer networks where nodes share data anonymously with no central point of failure. This contrasts with distributed databases like Redis and Hadoop which split data across known, trusted nodes often still controlled centrally.

Decentralized databases provide several key benefits including enhanced privacy, security, scalability, and faster throughput. By encoding data cryptographically and distributing it across nodes, they enable greater resilience and censorship resistance compared to centralized databases.

The global database market stood at 91 billion USD in 2022 but decentralized solutions only account for a fraction currently. However, this is changing as web3 gathers momentum. The decentralized model aligns closely with blockchain's philosophies of openness, transparency, and user control.

Healthcare, gaming, social networks, and other sectors are exploring decentralized databases for managing sensitive user data in a private, secure manner. The market is still developing but projects are emerging to meet the need for decentralized data management.

These range from centralized databases interfacing with blockchains to modular peer-to-peer databases built from scratch. Each approach has tradeoffs between decentralization purity and usability.

Overall, demand for alternatives to closed centralized databases is growing in the web3 era. Decentralized databases can enhance privacy, security, and control by distributing data across nodes.

Although adoption is still early, innovative solutions are launching to serve this need. As the technology and ecosystem mature, decentralized databases could displace centralized incumbents. Their alignment with web3 values makes their widespread emergence seem inevitable.

With more themed pieces in store, we are certain the Fight Club newsletter is here to stay and is a beautiful addition to the web3 ecosystem. Check them out here and subscribe.

Bankless Academy Anniversary Giveaway

Still on Bankless Academy turning 2! We are in the last hours to participate in their 2nd Anniversary giveaway. Submissions end Monday, February 12, at 12.00 UTC; winners will be announced the same day, at 17.00 UTC. Note that if you've claimed at least one Academy badge, you can participate and win a DataDisk Collectible.

How do I participate?