Three Key Takeaways on DAO Governance | BanklessDAO Weekly Rollup
Three Key Takeaways on DAO Governance | BanklessDAO Weekly RollupCatch Up With What Happened This Week in BanklessDAODear Bankless Nation 🏴, Two weeks away from the official gap week and we can boldly say that the bDAO family deserves a break. We have been relentless this season, putting in the work each day, and making the most of this bear season. This week, we will once again focus on governance because it is an important topic at the moment. Season 5 planning has kicked off in most, if not all, guilds and projects. With some guilds in the nomination phase for next season’s roles, and others holding elections, the DAO is set for a busy two weeks. Speaking of roles, the Grants Committee’s election for three members is now on Snapshot. There are four contributors vying for a role, and details about the experience and approach each offers can be seen in the Forum post. The Community Vote is also on the Forum. This is an opportunity to check consensus on key topics in advance of the Season 5 spec. This community vote is not final; it is simply to test support for various ideas which will be voted on formally on Snapshot before implementation. Did you miss 0xJustice’s Making Bank episode about DAO governance a few weeks ago? Well, Elemental has you covered with a TL;DL (too long, didn’t listen) in this week’s editorial. He highlights three of the many relevant insights from the podcast that promise to be extremely useful in our pursuit of good governance. If you’re in pursuit of some good weekend vibes, sit back and enjoy this edition of the Rollup and read or listen to the great content produced by bDAO this week. Contributors: Elemental, Dippudo, theconfusedcoin, anointingthompson1, WinVerse, Trewkat, siddhearta, hirokennelly This is the official newsletter of BanklessDAO. To unsubscribe, edit your settings. 🗓 Weekly RecapCommunity Highlights🚀 Season 5 Key DatesJuly 18 - S5 Spec V1 July 20 - GC Budget Reviews I July 25 - S5 Spec V2 July 25 - GC Budget Reviews II July 29 - S5 Spec + Budgets August 8 - S5 begins with Twitter Spaces NOTE: Community Vote is ending soon. 📊 cNPS Survey Results — Season 4 Month 3Ella Dane has put together an insightful report on the BanklessDAO Community Net Promoter Score (cNPS). This past month we saw a 15 point decrease from the June score — an all-time low. A quick analysis indicates that the main group expressing dissatisfaction are our Level 1 contributors. One might think that this decrease in satisfaction is associated with people’s willingness or ability to contribute given the recent dip in the price of BANK, but that is not shown in the data. The results showed essentially zero correlation between members’ cNPS scores and reported reliance on BANK to cover their cost of living. There was very low correlation between an individual’s reliance on BANK and their willingness to contribute to bDAO, and a very low negative correlation between an individual’s cNPS score and their willingness to contribute to bDAO based on BANK compensation. Interesting, right? Here are Ella Dane’s thoughts on the results:
This is an incredible statement about bDAO. Ella Dane is seeking feedback on the results and ideas for questions that could be included in the next survey to help us identify the cause of this drop in contributor satisfaction. Your comments are welcome on the Forum post. What’s New🎙 BanklessDAO Podcasts🌍 BanklessAfricaNEW EPISODE OUT 🚨 Africa's turn w/ @deltitusbawuah co- founder of @Ghanaunitydao & @Web3accra
🎙 @MissPurrple_
He touches on
🚀Opportunity for Africa to build long term momentum
💪Harnessing our strengths; be our authentic selves
🇬🇭#GH Unity #DAO vision
Thanks for coming
👇 💰 Making BankNew Episode of Making Bank 📣 .. is all about the Project Management Guild at BanklessDAO, with the Guild Coordinator, @0xReneK, interviewed by @EffectDrost.
PM guild was recently formed in response to a need within BanklessDAO, with a mission .. 🧵
making-bank.sounder.fm/episode/making… 🏹 Bounty Hunter🚨 Episode #17 is LIVE 🚨
🎙️ Why DAO Compensation is Broken & How to Fix It with @cryptowsky from @C3__Group
🎯 On today's show: DAO compensation design, the instability of tokens, determining transparency & more👇
bountyhuntershow.com/cryptowsky
Presented by: @banklessDAO ✍️ Bankless PublishingWeb2 made the internet easy. Web3 made the internet own-able, but not all that easy to use. @samanthajmarin breaks down how to bridge the gap via @BanklessPub BanklessDAO's @JakeAndStake and @_Austin_Foss explore the future of decentralized identities, which may be the key to unlocking Web3's potential via @BanklessPub
In this issue of DeFi Download:
📖 Guide to Decentralized Lending:
👉 Overview of the how, what, and why of #lending protocols
👉 Learn about #liquidity pools
👉 Understand automated loan coverage
👉 Lending tactics
🙏 Sponsor
@oasisdotapp
banklessdao.substack.com/p/the-lending-… Get Involved😎 Tell Us About Your Web3 Journey/ExperienceWe have prepared a set of questions related to your Web3 journey/experiences, and we’d REALLY like to know your thoughts on the questions asked! All the questions are optional, and there are no personal info/details being collected. We hope you will choose to take five minutes to answer this survey; it will help us understand you as a bDAO member. 🌱 New Joiners Session s4x05Are you new and lost in the weeds of endless bee-like activities within the DAO? Do you want to have human-to-human time with friendly DAO contributors to talk more about your challenges as a new member and get some friendly advice? Well, that's what the New Joiners Session is for. A human-friendly, no-bot-allowed chat session. Join us on July 18, 2022, to learn more about bDAO and how to get involved. Meet mentors who could guide you on your journey into DAO life and other new joiners who’ll become your fellow travelers. To get plugged in and feel the BanklessDAO vibes, head over to the #calendar channel to RSVP. 📰 Good Morning NewsGood Morning News is the world's first blockchain-powered decentralized news publisher and we are excited to bring you the news about opportunities to contribute! Subscribers can vote on the daily selection of stories, and anyone wishing to contribute as a writer, editor, or designer is very welcome. Story contributions are paid in PAPER. Here's a link to join the Good Morning News Discord. Three Key Takeaways on DAO GovernanceHighlights from the Making Bank PodcastAuthor: Elemental The BanklessDAO Governance Solutions Engineers (GSE) team has spent several months laying the foundation of guidelines, processes, and shared understanding that will help BanklessDAO adapt and thrive as it grows. On a recent episode of the Making Bank podcast, GSE 0xJustice joined Droste for a wide-ranging conversation on the challenges and opportunities the GSE team is discovering as they tackle this important task. What does the @banklessDAO Improvement Process look like? Hear 0xJustice ELI5 it to us! ⚡️ @singularityhack Here are three big insights from that discussion: 1. It Starts With Source Control0xJustice has a background in agile software development, and many of the terms and models he uses to describe DAO governance draw upon that experience. He likens the first major challenge the GSE encountered to that faced by enterprises doing new software system integration: the need to collect information from many different places to establish a single source of truth regarding the rules, guidelines, processes, and other documentation.
Source control for BanklessDAO governance is version 1.0 of the BanklessDAO Constitution and Community Handbook. The GSE also has laid out a framework for proposing changes to bDAO governance with the BanklessDAO Improvement Proposal (bDIP) template. While the bDIP process establishes a straightforward process of amending the Constitution and Community Handbook, the GSE is striving to have it include broader community feedback and input in the first version. It is currently posted for feedback and member vote for official adoption on the Forum. 2. It’s All About Incentive Engineering
Compared to the traditional corporate world, the open, permissionless nature of BanklessDAO removes many of the barriers between contributors and opportunities. A person can show up and start contributing to a guild or on a project on day one. The flipside of this is that without a compelling reason to remain involved, anonymous contributors — even if they’re project leads — can disappear without notice. 0xJustice explains further:
0xJustice believes it’s vital for DAOs to create two-fold incentives for contributors with both an upside and a downside. DAOs need to ensure that contributors have more of their own skin in the game if they want to participate in the upside of something the DAO is investing in.
3. Sub-DAOs Are the FutureThe decentralized nature of DAOs is incompatible with most traditional, legally recognized business structures. This makes conducting many of the business activities that are still necessary to do business in the ‘real world’ difficult. For example, most software subscriptions require a credit card or bank account for payment, which are hard for a leaderless, anonymous organization that’s not domiciled anywhere in the physical world to obtain.
0xJustice also points out that multiple sub-DAOs also offer the flexibility to fit a range of different locations and activities. A parent DAO can set up fit-for-purpose sub-DAOs that are the proper legal entities to do business in certain jurisdictions or own physical assets.
The full conversation between 0xJustice and Droste is available on the Making Bank podcast. Listen in to hear more details on contributor incentives, why the GSE is such a well-rounded team, the power of directly responsible individuals (DRIs), and more. And be sure to check out the podcast’s other episodes highlighting many other interesting people, projects, and important activities inside BanklessDAO. Also, be sure to do your part as a bDAO member by reviewing the BanklessDAO Constitution and Community Handbook, and providing any feedback and questions you have. Then vote on the Forum for whether you agree that BanklessDAO should begin using this document as the framework to build the Web3 future. Remember, governance is everyone’s responsibility. 🏛 GovernanceSnapshot Votes🏦 Grants Committee Election for S5 and S6There are currently three seats open for the Grants Committee’s next term (Seasons 5 and 6). The four candidates are paul🏴#1559, Ap0ll0517🏴#5781, jengajojo.eth🏴#5896 and Bananachain#6171. Check out this Forum post to understand each candidate better. Exercise your right as a bDAO member and vote! Proposals in Discussion🇵🇪 Launch of Bankless DAO Peru ChapterBanklessDAO members from Peru are looking to establish Bankless Perú, a Spanish speaking node that can set up a local community and incorporate more people to the Bankless movement. Our national context presents opportunities to boost the use of blockchain, DeFi and digital assets through education strategies and particular publicities. The proposal aims are raising the required funds to kick-start this chapter. 🌡 Community Vote: Season 5Previously, this post would have been called a Temp Check, but we’ve decided to go with Community Vote to reflect the importance of some of the elements. For those who are newer to the DAO, this post serves to collect sentiments on specific DAO-wide topics and inform the Season 5 Specification. Discussion is not limited to the polls included in this post, so if you have an idea or change to propose for Season 5, please include a comment for discussion. 🧹 Cleaning Up DiscordBanklessDAO has several redundant and unused channels, which leads to confusion and noise. These channels need to be condensed or archived. This post is a poll from the Ops Guild to grant permission to simplify the Discord. ✅ Action Items📖 Vote on the Snapshot election for Grants Committee members. 😎 Tell us about your Web3 journey/experience. 🏃♀️ Catch up: Review this week's Community Call notes or listen to the recording. 🤣 Meme of the WeekIf you liked this post from BanklessDAO, why not share it? |
Older messages
DAOs as Playgrounds for Growth and Development
Thursday, July 14, 2022
You're reading State of the DAOs, the high-signal low-noise newsletter for understanding DAOs.
Showcase Your NFTs in the Metaverse | Decentralized Arts
Tuesday, July 12, 2022
BanklessDAO Weekly NFT and Cryptoart Newsletter
Not as Simple as Black and White | BanklessDAO Weekly Rollup
Saturday, July 9, 2022
Catch Up With What Happened This Week in BanklessDAO
The Lending Edition | DeFi Download
Thursday, July 7, 2022
Your Trusted Source for 101s, Project Announcements, and Tokenomics Tutorials.
Facebook NFTs, Arc8 Mobile Money, and Chrono Glasses From Year 2352 | Decentralized Arts
Wednesday, July 6, 2022
BanklessDAO Weekly NFT and Cryptoart Newsletter
You Might Also Like
Bitcoin’s sharp rise and fall starts week with $418 million in liquidations
Monday, January 13, 2025
Crypto positions unwind with $245M in longs liquidated across major exchanges. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
₿ US-based entities hold 65% more BTC reserves than non-US entities; Crypto.com launched stocks and ETFs trading i…
Monday, January 13, 2025
US-based entities hold 65% more BTC than non-US entities; Crypto.com launched stocks and ETFs trading in the US; South Korea is reportedly planning to gradually allow institutional crypto trading ͏ ͏ ͏
Crypto Crash Imminent As US DOJ Sells Over 69K BTC
Monday, January 13, 2025
Monday Jan 13, 2025 Sign Up Your Weekly Update On All Things Crypto TL;DR Crypto Crash Imminent As US DOJ Sells Over 69K BTC Senator Lummis To Head New Crypto Subcommittee Dogecoin Fails To Break
2024 Cex Annual Report: Binance's lead narrowed, while Bybit spot and Bitget contracts grew significantly
Monday, January 13, 2025
In December, major exchanges recorded a 14% increase in spot trading volume, with Bitget leading at 102% growth, and a 6% rise in derivatives trading volume, where Gate saw the largest increase at 111%
86% of Bitcoin’s sell-off driven by short-term retail traders
Sunday, January 12, 2025
High exchange inflows from day traders indicate short-term trading activity as the key driver behind Bitcoin's price volatility. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Asia's weekly TOP10 crypto news (Jan 6 to Jan 12)
Sunday, January 12, 2025
The Russian Ministry of Finance has announced plans to liquidate Bitcoin assets seized in connection with the Infraud hacking case. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
FDIC interim chair calls crypto debanking ‘unacceptable’ amid concerns over Operation Chokepoint 2.0
Saturday, January 11, 2025
Although not directly from the FDIC, Hill's remarks brought new clarity to what critics have called "Operation Chokepoint 2.0." ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Weekly Project Updates: Berachain Deposits Surpass $1.1 Billion, Movement Secures $100 Million in Series B Funding…
Saturday, January 11, 2025
On Friday, the proportion of the USD0/USD0++ Pool on Curve, with a Total Value Locked (TVL) of $245 million, tilted severely. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Ethereum and Solana staking no longer classified as collective investment schemes in the UK
Friday, January 10, 2025
The UK Treasury's amendments are part of the government's recent plans to foster crypto innovation. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
WuBlockchain Weekly: U.S. Government Authorized to Sell $6.5 Billion Worth of Bitcoin, Pro-Crypto Pierre Poilievre…
Friday, January 10, 2025
The US government has received approval to liquidate 69000 Bitcoins (valued at $6.5 billion) seized from the “Silk Road” darknet market, a government official confirmed to DB News on Thursday. ͏ ͏ ͏ ͏