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Web3 Sentiment and BanklessDAO | BanklessDAO Weekly Rollup
Catch Up With What Happened This Week in BanklessDAO
Dear Bankless Nation 🏴,
Welcome to the latest edition of the Weekly Rollup, your source for all the latest bDAO news and updates. For this week’s editorial, meesh explores the motivation behind building in web3 despite external adversity. There is so much to relate to in meesh’s description of her first experiences as part of the DAO. What is it that keeps you excited about this community?
Non-violent communication is an essential part of building a harmonious and productive decentralized community. It’s a way of expressing yourself that is respectful and understanding, while also being honest and direct. Non-violent communication emphasizes understanding the underlying needs and emotions of both parties and finding constructive ways to address them. It encourages empathy, active listening, and the use of non-judgmental language.
At BanklessDAO, we strive to create an environment that is open, inclusive, and respectful. This approach is particularly important in the context of recent events in the DAO; the actions and attitudes of some community members in relation to Coordinape have shaken us all. As we head towards Season 7 and have the opportunity to review and comment on the various budget proposals on the Forum, let’s make respectful commentary the standard.
Also in the Rollup this week, check out the Legal Guild's first Twitter Space in Spanish, and get excited for the first Decentralized Arts NFT release.
Wishing you all a wonderful weekend, in whatever form ‘wonderful’ takes for you.
Web3 Sentiment and BanklessDAO
As we glide through the first month of 2023, the web3 atmosphere has a stirring yet rejuvenating peacefulness about it, like the calm after the storm. Picking ourselves back up after an extended disconnect, we find joy in re-joining web3 society and catching up on conversations with internet frens. It’s as though the world has regained its balance and centered its energy as we steer forth into the new year.
Media surrounding the cryptosphere seems to be off to a quiet start, in stark contrast to the drama-filled months leading up to the end of last year. Perhaps this air of tranquility, the space to practice mindfulness and realign our goals, is precisely what we need in our fast-moving web3 world. After all, it is a new year, and in true BanklessDAO style, we’re ready to make headway on our mission.
However, this same energy of hope and anticipation may not be widely shared outside the web3 ecosystem. Depending on who you ask these days, crypto is either dying or is finally cleansing itself of bad actors and thus growing toward a viable future. Onlookers are usually quick to trot out varieties of the typical ‘crypto is dead’ argument. I mean, can you blame them? It's not uncommon for public sentiment to be cynical after a major fiasco or during a bear market, or even both.
Contrary to the public’s perception of web3, the sentiment within web3 illustrates a narrative of true resilience. There’s comfort in knowing that we all came into the web3 space with a common goal to create, contribute, and construct a world that is decentralized and free of constraints.
Joining the Bankless Movement
Upon joining the DAO, I was captivated by the high-energy fervor within each guild. Projects were underway, and everyone moved in sync with the goal of contributing for the long term. I was ignited with a sense of excitement and possibility reminiscent of my first day of college. Eager as ever, I shuffled through every channel, eavesdropped on conversations that predated my existence in the DAO, and flipped through the BanklessDAO Notion like a syllabus; I was enamored.
It was clear that despite a crypto winter, or anything else for that matter, BanklessDAO wouldn’t stop building.
Not long afterwards, a sense of wonder washed over me, and I was struck by the question:
How do we continue believing and building despite all of the external adversity?
Was everyone in on a secret that the rest of the world was oblivious to? I had to find out.
And just like that, I sailed off on my Bankless voyage of discovery.
My first stop on this Bankless expedition was uncovering all the latest happenings within Governance by investigating the DAO’s Forum and Snapshot. Upon reading BanklessDAO’s Constitution and exploring the Forum’s proposals and discussions, it became apparent that effective coordination and thoughtfully active participation from the community are the ingredients to a flourishing DAO. However, I’m still left wondering about the motivation behind how we can wake up every day and still choose our DAO community, amid public skepticism and adversity.
Enthusiastic about learning and getting to know the BanklessDAO community, I began to be actively engaged. Immersing myself in weekly calls, workshop sessions, and the various guilds led me quickly to astonishment.
Unlike my previous real-world and web2 experiences, there was an immediate camaraderie. A welcoming and belonging that felt more pure and authentic than anything I had ever experienced. Perhaps a reason for this was the welcoming acknowledgment, but looking beneath the surface, the open and experimental culture of BanklessDAO encouraged me to jump in head first and just DAO it.
There’s a sense of unspoken understanding within BanklessDAO that welcomes and unites the little explorer in all of us, that will extend a hand to let you know that you have a place here in this community, that you are not alone in your journey towards achieving freedom from the status quo, and that all of us are in it together to push towards a decentralized future.
Creating With Community
The definition of work, learning, and collaboration can be seen in a new light when reimagined and enacted within BanklessDAO.
In stark contrast to the easily digestible — but two-dimensional — character narrative that thrives in the halls and cubicles of traditional employment, members within the DAO community are holistically valued. Not only is there a sense of ownership in your work, but there’s also ownership of your full self. To be valued holistically brings on a new state of consciousness that feels both vulnerable and liberating. Instead of alternating between your work, creative, and personal identities throughout the day, creating within a community that’s bonded by a common mission towards a free and self-sovereign world allows you to live to your highest potential.
Maybe the answer I was looking for was right in front of my face the entire time. In looking outward, I also needed to look inward.
Realizing that my inner goals aligned with the BanklessDAO ethos paved the way to mutual understanding and purpose-driven motivation. But also, perhaps there is no single answer as to why we wake up every day and choose our web3 community. Perhaps, like the complex human beings that comprise web3, the answer too is complex and personal and isn’t a one-size-fits-all blanket that can be tossed over everyone. On some days, we may identify with one reason over another. Similar to the dynamic nature of our web3 ecosystem, the humans that empower that ecosystem are also forever changing.
We joined this movement because we don’t fit the mold; rather we liberate and empower those searching for a better, borderless, and permissionless world.
🗓 Weekly Recap
📺 Weekly Rollup Recap With Liquidiot
Once again, Liquidiot and WinVerse bring us all the highlights from last week. They’re putting the roll in Rollup in this Recap video you won’t want to miss — who knew Liquidiot had a twin? You can find all the previous episodes on the BanklessDAO YouTube Channel.
If you enjoy these videos and want to see production continue, head to the Forum and vote in favor of the Weekly Rollup Recap S7 Funding Proposal.
👩🏾⚖️ Legal Guild’s First Twitter Space in Spanish
At BanklessDAO, one of our goals is to provide user friendly onramps to crypto. One of the best ways to move towards this goal is to go multilingual in our content. The Legal Guild made strides in this direction last week when they held their Twitter Spaces discussion in Spanish!
🌄 Introducing d’Art Drops
The Decentralized Arts newsletter team has reintroduced weekly NFT art drops for the Bankless community. Having been previously delayed by technical issues, the first in a series of four pieces in collaboration with debrabdesign is now available for purchase!
There are 100 editions of Debra’s stunning artwork, Bloom, available for 0.02 ETH each. This piece contains photography, digital art, and AI-generated art elements.
🎙 BanklessDAO Podcasts
🪙 Gitcoin Program Alpha Round is Live
Friends of BanklessDAO are invited to participate in latest Gitcoin Program Alpha Round, a set of three Quadratic Funding grants rounds that will allocate a $1M total matching pool to Open Source, Ethereum Infrastructure, and Climate Solutions. Every donation counts, so consider contributing as much as you can.
Three of BanklessDAO’s own projects — International Media Nodes, Bankless Africa, and Bankless Academy — are listed together in the Web3 Open Source Software Round. If you want to support these projects, participate in this round before January 31!
Take control of your online identity by creating a decentralized record of your credentials. By collecting ‘stamps’ of validation for your identity and online reputation, you gain access to the most trustworthy web3 experiences and maximize your benefits on platforms like Gitcoin Grants.
Join us on Wednesday, January 25 at 16:00 UTC in the watercooler voice channel for a demo of Gitcoin Passport, as we explore anti-Sybil mechanisms within the DAO. To set a reminder, RSVP to the event.
Governance is a very important aspect of decentralization, especially in DAOs. Join the Education Department in the watercooler voice channel on Tuesday, January 24 at 14:00 UTC to learn about the BanklessDAO Community Handbook and particularly how the DAO is structured. To set a reminder, RSVP to the event.
The Bank Utility series shows new members what they can do with their BANK tokens across different web3 protocols. This session will concentrate on BANK and Uniswap. If you would love to learn more on how to utilize your Bank tokens, join Aloy on Wednesday, January 25 at 14:00 UTC in the watercooler voice channel. To set a reminder, RSVP to the event.
BANK is the governance token of BanklessDAO. Are you curious about the tokenomics and management of the BANK token? Ernest-of-Gaia is ready to give you all the answers. Join the watercooler voice channel on Thursday, January 26 at 14:00 UTC. To set a reminder, RSVP to the event.
Proposals in Discussion
Planning for Season 7 to begin on February 6 is well underway. An initial draft of the seasonal specification, authored by 0xZFi.eth, was posted to the Forum at the start of January. Time is running out to share your input before this moves to a Snapshot vote. At the end of Season 7 bDAO will be two years old!
Following the fraudulent use and exploitation of Coordinape, a full incident report has been posted to the Forum. Whether or not you’re familiar with what happened, read this comprehensive explanation for why the DAO’s use of Coordinape will change in Season 7.
There are four polls included in the post; these are focused on how the DAO should approach these types of problems in the future, how we should compensate the investigative team, and how much funding we should allocate to implement a new contributor rewards system.
Our Constitution currently has a section dedicated to membership levels which defines guest passes and L1-L4 memberships. The L1 status is commonly achieved by holding “at least 35,000 BANK tokens at a single address.” Contrary to this, several members have held L1 status by providing BANK liquidity in DeFi pools and our Snapshot voting strategy has also been modified to include those sources of BANK funds.
Additionally, the differentiation between L3 and L4 leaves room for interpretation about whether the value of one holding contributes to the other, and whether L2 is required to hold either of these membership levels. This post is intended to investigate the community’s opinion about the definitions and criteria for each membership level.
Since the end of Season 4 the Analytics Guild has been inactive and the DAO Dash Bot has served many of the functions the Guild once performed. Unfortunately this bot is now inactive and requests are being made from other guilds and departments that require analyst services. This proposal is intended to resuscitate the Analytics Guild for Season 7 with 280,000 BANK in funding.
To cultivate community collaboration.
Bringing more awareness to each of the featured projects.
Inviting more members to our communities.
Alongside speakers from the two affiliated partners, our own Above Average Joe will be presenting during the workshop. Funding requested for this proposal is 63,000 BANK, equating to ~$500 USD, which is a one-third share of the venue cost.
✅ Action Items
🗓️ Read the Season 7 specification on the Forum and add your comments or support.
🗳 Vote on the next steps for the Coordinape incident in the report on the Forum.
💝 Donate to BanklessDAO and others in the Gitcoin Program Alpha Round.
🤣 Meme of the Week
Yep, 2022 had it all …