What’s Up BanklessDAO? | BanklessDAO Weekly Rollup

Catch Up With What Happened This Week in BanklessDAO

Mar 09, 2024

Dear Bankless Nation 🏴,

A popular saying goes thus, “friends are the family we choose for ourselves.” As cliché as that may sound, it was demonstrated in the love and happiness shared by community members at ETHDenver. It was exciting connecting with folks both on a professional and personal level. We welcome everyone back and look forward to all the mind-blowing things we'll do together.

It was a burst of good vibes, laughter, and positive energy in this week's CC as community members shared their experiences, projects, and hopes for the future. Physically connecting with friends from the online space was a joy, and it reaffirmed our vision. Indeed, we might not know what we are doing, but we are sure we want to do it together.

On the governance side of things, BanklessDAO would be going on a funding pause as the DAO is still undergoing reorganization. You can join the discussion on Forum and follow the conversation on the Governance call on Mondays. For more on governance, BanklessHQ has returned BANK to the DAO. Check out this week's editorial to get more information on that.

With that said, enjoy your weekend and Happy International Women’s Day to all the brilliant and astonishing women in bDAO and the web3 community at large. We love and celebrate you!

Contributors: Boluwatife, anointingthompson1, Tonytad, Warrior, Paulito, Vi-Fi, Kornekt, WinVerse

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✍️ Join the discussion on bDAO reorganization

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

Proposals in Discussion

💰 BANK Tokens Returned

Following the outcome of the Burn or Return proposal, BanklessHQ, David, and Ryan have now returned 143,337,805 BANK of the tokens granted to them in the original Genesis proposal. Details of the breakdown of the transactions can be found on the Forum.

What’s Up BanklessDAO?

Author: Boluwatife

It is well known that BanklessDAO is currently going through a necessary iteration phase. Contributors are bringing minds and resources together to figure out how the community can have its “phoenix” moment in the near future. This week's editorial is going to focus on the activities that show contributors' constant dedication to the BanklessDAO course.

Return of Bank Tokens to DAO Treasury

On Tuesday, March 5, 2024, BanklessHQ and its co-founders David Hoffman and Ryan Sean Adams executed a significant transaction — the return of 143,337,805 BANK tokens to the BanklessDAO treasury. This act is a follow-up to the "Burn or Return" proposal released in the initial stage of the BanklessDAO brand clarification.

The forum post that announced this development also stated that there will be more transactions from BanklessHQ regarding the return or burn of BANK in the future. This is because some BANK is currently being vested. However, by December 27, 2024, the remaining BANK tokens will be fully vested. At that point, Ryan and David will burn or return 10,895,600.11 BANK to the DAO treasury.

Despite the current sober atmosphere, the execution of this transaction by BanklessHQ serves as a testament to the organization's unwavering dedication to transparency and its acknowledgment of the BanklessDAO community.

ETHDenver and the Frens We Made Along the Way

ETHDenver spanned from February 24 to March 5, and it attracted BanklessDAO frens from all over the world. ETHDenver is one of the world's largest annual web3 #BUIDLathon and Innovation Festival where representatives from various blockchain ecosystems gather to share ideas and work on projects. From the reports of the attendees, BanklessDAO contributors met up, sparked ideas, gave talks, promoted products, and had a whole lot of fun.

Physical interactions with the web3 community are always important, as that is what gives us the strength to keep going. This was reinforced in the regaled tales of the event from a BanklessDAO member who attended the event. He encourages everyone to have fun and attend web3 events because there is so much more happening in the crypto space which is just amazing. The discussion was concluded with many members expressing their enthusiasm to go back to the vibe which was ETHDenver. To that we say, don’t fear! Permissionless is almost here. 😉

It Goes On and On and On

Despite the restructuring and funding pause, many parts of the DAO are still functioning. This is a good sign as it shows contributors' dedication to the vision and brightens the spark of hope that WAGMI. The talk of restructuring is a long but fulfilling process. We need your vibe to keep us going. Join the conversation by either hopping on the community call by 16:00 UTC on Fridays or joining the governance call at 19:00 UTC on Mondays.

Cheers to the love of web3 and BanklessDAO. Have a beautiful weekend.