Dear Bankless Nation 🏴,

The vision of the bankless movement is to live in a world where anyone with an internet connection has access to the tools needed to achieve financial independence. BanklessDAO stewards the bankless movement by creating educative and informative onramps to decentralized technologies.

In this week’s Community Call, MikeT talked about the power of expectation and the impact it can have on the BANK token’s market value. He noted that if people expect the value to decrease, they are more likely to sell to avoid losses, which in turn increases sell pressure and has the expected effect. Likewise, when people perceive that the token will become more valuable, they are less likely to sell and this will help achieve a positive trend for buy pressure. A thought-provoking discussion followed in which participants mused on ways to reduce outgoing BANK, increase incoming revenue, and create value alignment with the DAO.

As noted by many in the discussion, we must not fall into the trap of equating value only with financial return. This week’s editorial is a light-hearted read from HiroKennelly on the importance of putting FUD in perspective. BanklessDAO is a beacon for many in web3 and we must find ways to build on that through bear and bull, and keep that light shining brightly.

Have a joyful weekend, and remember that the shade helps the light seem brighter.

Contributors: Melasin, Warrior, theconfusedcoin, anointingthompson1.eth, Paulito, Vi-Fi, trewkat, HiroKennelly

This is an official newsletter of BanklessDAO. To unsubscribe, edit your settings.

🧐 Check out the Grants Reform Temp Check on the Forum and provide feedback.

🧑‍💻 Listen to Bankless Africa’s podcast about decentralized governance.

👫 New Joiners Session is happening on October 2 at 14:00 UTC.

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

Snapshot Results

✅ Season 9 Seasonal Funding — Late Items

The vote for this additional seasonal funding has passed with the following results:

• Approve: 18M BANK (96.9%)

• Reject: 337K BANK (1.81%)

• Abstain: 165K BANK (0.89%)

Proposals in Discussion

🧨 [TEMP CHECK] BanklessDAO Grants Reform

The Grants Committee has been dealing with several challenges that may be an existential threat to the DAO, such as unclear mandate, trouble attracting and retaining members, difficult and contentious seasonal funding process, and no way to track its own performance.

This Temp Check seeks DAO feedback on potential solutions to the above problems.

• Defining a GC and Department purposes in the Constitution.

• Adjustment of GC quorum and compensation.

• Defining who should be able to request grants.

• Moving projects to ad-hoc funding (not seasonal).

• Reducing scope and adopting new tools for guild funding.

⚖️ Temp Check - Does The DAO Need a Legal Entity?

The goal of this Temp Check is to get a front-facing discussion, and hopefully a decision, regarding the feasibility of forming a legal entity for the DAO. If you have ideas or experience to share, please contribute to this discussion.

Gitcoin Grants Round 18 Results

Gitcoin has released the results of the GG18 round for ratification by its community. At this stage, the totals for the DAO and its projects were $2,799.17 in donations and $25,405.17 in matching funds. According to Jengajojo, this is twice the revenue earned in the previous round. GG bDAO!

Keeping It Lit

Author: HiroKennelly

I live in the Pacific Northwest, U.S.A, a region that — like many places — has seen its economic fortunes rise and fall with larger trends in the global commodities trade: timber, minerals and ore, wheat and other agricultural products, or fishing. In more recent times, cities like Seattle and Portland that rose to prominence on commodities have transitioned to more technologically advanced manufacturing like aerospace, computers, software, and internet companies.

At times, these cities have burst at the seams with opportunity and those who seek to capitalize on it; at others, they’ve seemed near extinction. This old sign from Seattle comes to mind: a commentary which many believe to be about the exodus of aerospace jobs during the "Boeing Bust" near the height of the Vietnam War.

At first glance this sign appears to be an expression of the pessimism the community felt during the massive layoffs at Boeing, the global aerospace giant that employed over 100k people in 1967, but fewer than 40k in 1971. As the story goes, Seattle was emptying out, the downtown core vacated, and the suburbs were rotting in decay.

The problem is, this story is not true.

In fact, the billboard was erected by amused real estate agents. They noticed that their out-of-town clients were always surprised that anyone was left in Seattle, as the news was peddling a steady stream of FUD — Boeing was ded, Seattle was dying, and none of it was coming back. But the fact was, Seattle was doing ok. Not amazing, but definitely not terrible. Seattle was still productive, still active, still a community. Sound familiar?

The realtors in Seattle erected the billboard in April 1971 when Boeing employed 39k people. By October of that year, that number had mooned to over 53k workers. As we grind through the longest bear market in crypto history, we should remember those realtors, signaling to the world that better days are ahead, and savour a bit of lightness in our daily life.

We don’t know whether it’s the Bitcoin halving next spring, regulatory clarity out of Washington, D.C., mainstream adoption of a crypto app, or just regular market cycles, but something will ignite the next bull market sooner than we think; the population of web3 and DAOs will swell, and we’ll once again be drinking the froth of freshly poured vibes.

Until then, I think we’ll keep at least one light shining — and that’s bDAO.

🎗️ Support Libya and Morocco

Recent natural disasters have left communities in both Libya and Morocco in dire need. Together we can help them recover faster. Please consider donating to aid both countries in their rehabilitation efforts.

• Stand with Moroccan Earthquake Victims

• Support Libyans after Flooding Disaster

We also hosted an X space to brainstorm on different ways we can help both countries.

🥧 Arbitrum Grant Round Is Live on Gitcoin Grants

Arbitrum has launched a grants round on Gitcoin Grants Stack! Please support BanklessDAO in the Education, Community Growth & Events Round. This round focuses on community growth activities such as education courses, boot camps, hackathons, and events. The round ends on September 30, 2023 at 23:59 UTC and there is a total of 12,500 ARB in matching funds available.

⛴️ BanklessDAO Content

🧠 Crypto Sapiens

🌍 Bankless Africa Podcasts

🌏 Bankless Africa Newsletter

✍️ Bankless Publishing

🗞 The Rug

🤩 New Joiner Session S9 x 02

Join the New Joiner Session to learn more about BanklessDAO and how to get involved. You will meet other new joiners and mentors who could guide you on your journey into DAO life. This session will be held on Zep. Please put your Discord Handle as your display name (e.g. Quietfox#2574), and be prepared to share a little about yourself.

RSVP to have Zep meeting details emailed to you nearer to the event, which will be held on Monday, October 2 at 14:00 UTC.

🗄️ How To Gnosis/Safe

Safe (formally Gnosis) is a tool frequently used by DAOs to manage a shared Treasury. In this session, you can add the Goerli Testnet, learn how to create a multi-signature wallet, and join a testnet multisig. We will execute a few transactions, learn how to adjust the policy and remove signers from the multi-signature wallet. Join the Education Department on Tuesday, October 3 at 14:00 UTC in the watercooler voice channel to participate.

🤖 How To Collab.land

Collab.land is a Discord bot that manages token-gated channels and roles. It can verify whether a user owns a given digital asset (ERC token) necessary to enter a given channel or have a certain role, and if they do, give them access. Join us on Wednesday, October 4 at 14:00 UTC in the watercooler voice channel to learn how tipping and gating work in Discord.

👏 Praise Bot Knowledge Session

Praise is an open-source community intelligence and rewards system designed to strengthen online communities through peer recognition and tokenized incentives. Praise allows community members to openly acknowledge and appreciate each other's contributions through simple peer-to-peer messages called "praise statements”. To learn how to appreciate folks within the DAO using the Praise bot, join the Education Department on Thursday, October 5 at 14:00 UTC in the watercooler voice channel.

🏗️ Nouns Builder: Onchain Avatar Communities and DAO Governance

Nouns Builder provides the capability for users to create generative NFTs using their artwork layers. This process ensures that each NFT auction has its own distinct characteristics. The auction mechanism is designed such that all auction sales are directed to the DAO Treasury, which is then governed by the community. Join this demo in the Live Demo voice channel in the DAOlationships server on Monday, October 2 at 18:00 UTC to learn more.

📁 Maple Finance: Exploring Business Credit in DeFi

Maple Finance operates using a pool delegate model. Pool delegates play a crucial role in assessing the creditworthiness of borrowers and determining loan terms. This structure aims to bring a more traditional credit assessment approach to the decentralized world. To learn more, join this demo in the Live Demo voice channel in the DAOlationships server on Tuesday, October 3 at 18:00 UTC.