Dear Bankless Nation 🏴,
It’s about the journey, not the destination; it’s not about power, it’s about navigation. As we steadily journey towards our destination, it’s you, our family that upholds the community ethos of our collective endeavor. Each member plays a crucial role, fitting together like pieces of a puzzle, ensuring that we reach our destination safely and successfully.
Since the start of Season 10, the bDAO community has made some headway navigating next steps. From pausing and unpausing funding (for specific purposes) to carrying out a DAO-wide retro, we have addressed several areas of the DAO. With things beginning to move a little, HiroKennelly posted a proposal on Forum, starting discussions on the next actionable steps on what a DAO reorg could look like. In this week’s editorial, we highlight this proposed reorg, so sit back and have an amazing read.
Gitcoin Grants 20 is still live. With only three days left, let's come together and support our favorite bDAO projects. Every contribution, no matter how small, can have a significant impact on projects striving to make a difference.
As we head into another week, may this newsletter inspire your belief in the magic that happens when a community comes together in pursuit of growth and progress. Thank you for being a valuable member of our team. Together, we look forward to sharing in the progress and achievements that lie ahead. Remember, your thoughts and contributions are always welcome in the ongoing governance discussions on our Forum.
Finally, to wrap up this introduction, we say a warm welcome to Season 11! Yes, it caught several of us by surprise as well but we are here now. Thank you for building with us through Season 10, we are glad to have you with us.
Contributors: Ifeoluwakiitan, Boluwatife, Tonytad, Paulito, 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 CryptoSapiens on Hypersub.
💰 Still some time left to donate to bDAO projects in GG20.
🏃♀️ Catch up: Review this week's Community Call notes or listen to the recording.
Proposals in Discussion
📃 Outline for Proposed DAO Reorg Working Edition
The proposed DAO reorg aims to transition away from Bankless branding, establish a new token system with two membership levels, and organize into councils, guilds, and departments for effective governance, content creation, and operations. Feel free to delve into the detailed proposal on the Forum and drop your concerns.
The Path to Reorganisation
Author: Boluwatife
The DAO has been marching onward to restructuring for a couple of months, and this week is no different. HiroKennelly, an OG member of the DAO, posted a proposal on the actionable way forward for the DAO.
The proposal begins with a call for change, highlighting the need to move away from the existing Bankless branding. This decision is not solely at face value; it represents a fundamental shift in the organization's identity, a commitment to forging a fresh path that aligns with its evolving goals and aspirations.
The introduction of a new token shall further solidify this commitment to transformation. These changes symbolize a clean slate upon which the community can paint a vibrant future, unencumbered by the constraints of the past.
Missions and Aspirations Highlighted in the Proposal
At the core of the proposal's vision lie two primary missions — onboarding new members and showcasing the potential of the DAO space. By actively seeking to expand its ranks and foster an inclusive environment, the DAO aims to attract a diverse pool of talented individuals who share its passion and vision.
However, the proposal goes far beyond mere structural changes. It describes a detailed strategy that encompasses content creation, DAO experimentation, and fostering real-world connections through IRL events. This multifaceted approach recognizes the importance of building a vibrant and engaging ecosystem that drives innovation, collaboration, and a sense of community.
Governance and Membership
The proposal also covers the aspect of governance. It introduces a two-token system, designed to facilitate distinct levels of decision-making: Full Membership (Stewards Council) and Contributor Membership. This structure promises to strike a delicate balance between governance and inclusivity, ensuring that every voice is heard and every contribution is valued.
Full Membership (Stewards Council)
Soulbound token for identification
Proof-of-Humanity (PoH) verification process
Non-monetary token with no economic value
Social consensus of current Stewards for new members
Requirement to stake a specific amount of Contributor Token
Staking by three existing Full Members to nominate new Full Members
Contributor Membership
Staking requirement of one member
Staking a specific amount of Contributor Token
Approval from the Membership Working Group
The proposal also includes a "rage quit" function, allowing Full Members to exit the DAO and automatically set off treasury triggers, providing a level of flexibility and incentive.
Streamlining Decision-making
To facilitate decision-making processes and ensure transparency, the proposal envisions a DAO council comprising 13 members, including a multi-sig group and six at-large Stewards. This council would shoulder critical responsibilities, such as making funding decisions, providing seasonal roadmaps, resolving disputes, and hosting weekly public meetings.
Fostering Collaboration and Specialization
The proposal also recognizes the importance of collaboration and specialization, so it outlines the new formation structure of Guilds and Departments.
Guilds
Member-driven associations based on skill sets (writing, design, audio/visual, marketing, tooling, translation)
Staking requirement to join
Never funded, but serves as a platform for networking and knowledge-sharing
Trusted Departments (Stewards Only)
Handle critical functions like infrastructure and security
Operational Departments (Open to Contributors)
Oversee essential operations like treasury management and onboarding of new members and partners
Content Workstreams: Engaging the Community
To foster a vibrant and engaged community, the proposal highlights a range of content workstreams, including written content, audio content, social media, community calls, translations, memetics, and events. This diversity in content formats aims to cater to diverse preferences and foster an environment conducive to knowledge-sharing and community-building.
The Way Forward
To facilitate the implementation of these transformative changes, the proposal calls for the formation of two working groups: one focused on branding (including a new mission) and another dedicated to onboarding and membership screening.
Additionally, a Transition Council would be established, responsible for critical tasks such as tooling, treasury management, constitution revisions, and serving a four-month term aligned with the current season length. This council would be elected through a combination of third-party nominations and ratification by tlBANK holders via a Snapshot vote, with a cap of seven council members.
Incentivizing Contributions
It takes considerable effort to drive this transformative process, therefore the proposal includes compensation structures, such as retroactive compensation for Working Group members and a monthly stipend of 0.1 ETH for Transition Council members.
This is a detailed and clear path forward derived from all the contributions and suggestions given by contributors. Hirokennelly would be stewarding this task, however we would also need your participation to make sure this works. Visit the Forum post to learn more and join the conversation. Have a fantastic weekend folks!
⛴️ BanklessDAO Content
🧠 Crypto Sapiens
🗞 The Rug Newsletter
Thanks, The Rug
