Dear Bankless Nation 🏴

We are on a journey. A community member adeptly describes this journey as marked by continuous advancement, characterized by phases of 'forming, storming, performing, and reforming'.

In this week's community call, we continued streamlining our path by discussing the current focus on governance as part of the ongoing transition process. Suggestions were made towards the implementation of a new brand, new levels, and a new governance system while preserving the essence of our close-knit community.

Although the funding pause continues with the DAO still undergoing reorganization, active engagement remains key. You can participate in discussions on the Forum and be a part of the Governance call on Mondays. We’d be glad to hear your thoughts and opinions, as your opinion does matter in charting the path forward.

Our active participation during this period remains crucial. As we enter a new week, let’s keep our black flag flying as we continue this journey together.

Contributors: Boluwatife, Chameleon, Warrior, Paulito, Ifeoluwakiitan, Kornekt, WinVerse

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

Proposals in Discussion

No new proposals. Check out Forum to participate in the ongoing discussions.

Matters Arising

Author: Boluwatife

Throughout the thick and thin of BanklessDAO, one thing has kept us together — our values. In this restructuring phase, a lot of people have left the space and honestly, that is the way of life. When something is not working out as anticipated, it is easier to move on. The set of people in BanklessDAO right now have a set of values and belief in the mission and that is why we keep showing up. The community as a whole is grateful for that.

In this week's editorial, we are going to be discussing some matters arising in the BanklessDAO community. At this point, it has been determined that we might have to change our brand name and token, and probably redefine how membership is allocated. The last community call had contributors give some insights into the directions they think should be taken.

Value Alignment

One of the first things talked about was the values of the organization. Contributors suggested that to move forward, the community must pull values together and put them up. The community already has a set of implied values that we all abide by, so we should come together, discuss, polish those values, and put them up for consideration. These values will show that BanklessDAO is revolutionary and will also show defiance against the backward views and way of doing things that have been passed down to the community. These values will show our unanimous “YES” for growth.

Airdrop Consideration

While web3 is about growing and scaling, it is important to reward those who have been tirelessly working, both in public and in the background. As we enter this new phase in the community, contributors suggest airdropping members, communities, or projects that helped elevate the BanklessDAO community and its projects. Crypto Sapiens, bCard, DAOpunks, Chippi NFTs, and IndyPen Media, are some of the projects that have come out of BanklessDAO. While they are all great standalone projects, the members who contributed, the nurturing community, and the teams who got them there need to be appreciated. Different levels of airdrops have been created with different criteria, and it is planned that once the process is fleshed out, planned action will follow. There is also a plan to look into basic retroactive airdrops to distribute the tokens in the DAO treasury.

Onchain Metric as a Determinant of Membership

Contributors agreed with the value alignment and noted that the community should have an activity (not necessarily a document) to show that members are value-aligned. In the new era we are bound for, we do not want to limit member entry and we also do not want to have people that are not mission-aligned. Therefore, members are suggesting that there should be some onchain metric or contribution to get membership. It could be holding the new token and having a DAOpunks NFT, or holding a Chippi NFT and being a guest on the Making Bank Podcast, etc. We want to make sure to drive value to the community and other associated communities as well. This will drive real-world utility and grow the ecosystem.

Uncharted Territory

While this is uncharted territory, we need to keep moving to get to where we are going. We believe that as long as we keep moving we will get to our dream space. It was pointed out by a contributor that we are making progress according to the group development strategy — forming, storming, norming, and performing. We are currently at the norming stage and it can only get better from here.

Actionable items for this week will be to go to this document, and drop name ideas and what you think should be the eligibility criteria for airdrops. We do not know what we will be doing yet but we know we are going to do it together. Have a beautiful weekend.

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