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Steps to a Strong Constitution | BanklessDAO Weekly Rollup
Catch Up With What Happened This Week in BanklessDAO
Dear Bankless Nation 🏴,
Whether you're a seasoned member or new to BanklessDAO, this newsletter is your gateway to exploring the innovative, community-driven initiatives the DAO has to offer. This DAO comprises decentralized organizational units, but these are not without unity. BanklessDAO’s Constitution is one way in which we can bring cohesion and clarity to the way in which our organizational units make decisions that affect the entire DAO. In this week’s editorial, Trewkat shares a highly anticipated update to the work that’s been done to improve the Constitution — yes, the bDIP is ready and we need your vote.
Also on the governance front, please note that the two active Snapshot proposals have been re-posted so you will need to recast your votes for the DAO’s vault multisig signers and the Uniswap fee deposit. Regarding seasonal funding, Season 8 requests have been disbursed successfully to guilds and departments from the vault, whereas project funding is yet to be released by the Grants Committee.
At this week’s Community Call the discussion turned to diversity, inclusion, and equity, and results of a DAOversity survey carried out by talentDAO in 2021. Pancho shared some visualizations of the aggregated data collected from 48 bDAO respondents, and more detail is available in the full report.
Our virtual doors are open for collaboration, innovation, and meaningful conversations that challenge the status quo, and we’ll continue to sow ideas and sometimes just have a laugh and shoot the breeze.
This is why we DAO. Have a fun week ahead!
✅ Action Items
📜 Vote on the bDIP: BanklessDAO Constitution.
🗞 Subscribe: Stay on the cutting edge of web3 with Bankless Publishing.
Snapshot (Recast Your Votes!!)
The two Snapshot votes listed below have been reposted following technical issues with the strategy. Please vote now, even if you had already voted previously.
Voting for the seven individuals who will serve as signers for the DAO's multisig wallet is active. Because these people are the DAO's representatives, it's critical that all DAO members participate in decision making. Head over to Snapshot and vote for your preferred candidates.
The DAO has earned its full-range Uniswap liquidity position. The goal of this proposal is to get these fees into the DAO's multisig.
Proposals in Discussion
This bDIP is to replace the entire existing Constitution with the entire revised Constitution. Read this week’s editorial for more detail and please do add your vote.
Steps to a Strong Constitution
Moloch has various meanings depending on which source you consult, but it’s not usually positive, representing concepts such as sacrifice, violence, or oppression, or burdensome bureaucracy. In web3, or at least the Ethereum ecosystem, the phrase ‘slay Moloch’ represents the ideal of overcoming human coordination failures.
We have so much yet to achieve at BanklessDAO, so much drive, and so much potential. For our community to fulfil that potential we must work together in a coordinated way, and our Constitution is the vehicle that will enable us to do this.
Today marks another step towards producing a strong, sound Constitution for BanklessDAO, one which will clarify our current governance practices and establish a firm foundation for future governance revisions.
A bDIP Not To Be Missed
A brand new bDIP is live on the Forum, and we need your vote to reach the quorum threshold so that it can proceed to Snapshot.
BanklessDAO’s current Constitution lacks clarity and completeness. The proposed revision of the BanklessDAO Constitution simplifies the language without making any changes to governance. This work has been supported throughout Season 7 by the Governance Department, with the dual goals being:
to update the wording of the existing Constitution so that the information is presented in clear and concise language within an intuitive, numbered structure.
to document information about existing governance practices which were not included in the existing Constitution.
This bDIP has been a season in the making. In a series of one-hour, and eventually two-hour meetings the working group refined text, suggested additions, and debated semantics, always with our focus on the goals. It was a continual challenge to refrain from adding text about the way we thought things should be, as opposed to what we knew to be agreed practice. In that respect it was helpful that we are a group of experienced Level 2 Contributors; we kept each other in check very effectively! We had visits from a few more interested contributors here and there, whose input was also welcome and very appreciated.
The recent Temp Check included polling on various aspects of the proposed revision. Here’s a rundown of the results:
As a result of Poll 1, the following section of the proposed version has been updated, as follows:
4.6.4 Grants Committee Election Process “... any Level 1 Member may self-nominate …“.
The Constitution currently states “anyone may self-nominate” but 89% of Poll 1 voters were in favour of changing this language to reflect current practice.
Text referred to by the other polls in the Temp Check was already included in the proposed document and this text was accepted by the majority of voters.
Poll 2 resulted in 100% of votes in favour.
Poll 3 resulted in 84% of votes in favour.
Poll 4 asked whether the proposed revised Constitution is ready to proceed to a bDIP in its current form, and resulted in 91% of voters in favour.
Lastly, as a result of the recent tlBANK proposal passing Snapshot, Section 3.2 of the proposed version has been updated from what was first referenced by the Temp Check to incorporate language about tlBANK. Note the added text does not match the text approved in bDIP-09 but retains the intent.
Time to Vote
It’s now time to vote on whether the proposed revised Constitution should replace the existing BanklessDAO Constitution in its entirety, remembering that no changes to governance rights, responsibilities, or processes are enacted by this new version.
👀 In Case You Missed It
✍🏻 DAOlationships’ First Blog Post
⚖️ BanklessDAO Legal Clinic
The Legal Guild is planning to provide support to bDAO members, individuals, and projects with legal and tax questions, contingent on legal guild contributors’ jurisdiction and expertise.
The plan is to have a flat fee for a one-hour consultation, payable in BANK. There will be one fee for bDAO members, and another for non members. Check out the Forum for more Legal Guild updates.
🍔 Grab It While It’s Hot
⛴️ BanklessDAO Content
🗓 Set A Reminder
👩🏻💻 ETHRome Hackathon
ETHRome is an IRL event organised for hacktivists and builders to help foster governance and and privacy preserving tech in crypto. Check this Twitter thread to find out how to apply and follow all that’s been planned!
Sobol is a web-based platform that allows teams to govern themselves and run their organization according to their unique culture. If you want to know the organization of the DAO and how to find different information about roles, guilds, Notion pages, multisigs, and members of our community, RSVP to this Education Department event on Monday, May 29 at 13:45 UTC in the watercooler voice channel.
Liquidity pools are an essential building block of the crypto ecosystem and as such, it is important to know what they are and how they affect tokens and community building. Join the Education Department on Wednesday, May 31 at 13:45 UTC in the watercooler voice channel to learn more about liquidity pools and how they work.
BANK is the governance token of BanklessDAO. To learn about how the BANK token came to be and the tokenomics related to it, join the Education Department on Thursday, June 1 at 13:45 UTC in the watercooler voice channel.
With Obvious Smart Wallet, you can pay gas in a token of your choice and approve/sign transactions with a single click. This wallet promises a new level of security, convenience, and flexibility, helping you transact on-chain with confidence.
Rhino.fi is a frictionless multi-chain platform that gives you access to all the best-decentralized finance (DeFi) opportunities in one place. Once you have connected your wallet to rhino.fi and deposited your tokens you can buy and sell, invest, and transfer on multiple different blockchains.
🤣 Meme of the Week
Thanks Boluwatife! Why is he in a hospital gown lol 😄.