Dear Bankless Nation 🏴,

Another exciting week has flown by, and we're here to keep you in the loop with all the latest happenings in the DAO. Whether you're a seasoned member or just getting started, there's always something new and interesting to dive into.

The Snapshot Space is still live and open for tlBANK-verified members! This space kickstarted our reorganization, so let's continue to shape our future together. Always feel free to explore, participate, and share your ideas in the space. The discussions are heating up as we keep exploring the potential future paths for the DAO.

We also had an amazing Community Call this week, centering on our mission. Contributors shared ideas and ignited vibrant discussions, leaving us all inspired and energized.

Remember, it's your participation and engagement that make our DAO thrive. Whether you’re diving into discussions, contributing to projects, or simply staying informed, every bit counts. Let’s keep the momentum going and continue to push the boundaries of what’s possible in our decentralized world. Have a lovely weekend!

Contributors: Ritaakubue, Boluwatife, Tonytad, Paulito, Kornekt, WinVerse

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🏃‍♀️ Catch up: Listen to this week's Community Call recording.

Snapshot Votes

• Bankless Perpetuity - A Possible Pause Resolution

A Possible Pause Resolution

Author: Boluwatife

A new proposal is up on Forum titled Bankless Perpetuity - A Possible Pause Resolution. This proposal highlights how running this community with a perpetuity (going concern) mindset might heavily impact how it is run. It was inspired by the proposal BanklessDAO Multisig: Funding Pause and BDAO Reorganization, which suggests that any working group must commit to being perpetual within a defined time frame.

This proposal states that for any working group to receive funding it must have gone through a certain time frame to ensure that it can remain perpetual. That means funding should not be given without proof. The authors believe that this would be a situation where the community adopts working models of other successful DAOs where reward is given after deliverables have been met. In this system, any working group not meeting up to those deliverables or expecting charity will be denied funding.

Regarding how the potential proposal is going to be enforced, perpetuity protocols, structures, timeframes, trials, and products come into play.

Perpetuity Protocols

The proposal states that there be protocols to ensure that working groups contribute value to the community while maintaining financial sustainability.

The Perpetuity Protocols aims to provide a comprehensive set of guidelines and best practices for the community’s working groups. These protocols are designed to foster a mindset of continuous value generation and community contribution, encouraging groups to adopt realistic and market-driven approaches. One example of such a protocol as given in the proposal is the TAM SAM SOM Market Assessments, which help working groups demonstrate their ability to offer value in the relevant marketplaces.

Perpetuity Structures

Previously, BanklessDAO operated through Guilds, which observed working groups across one or more seasons. At the end of each season, a review process determined whether to continue, modify, or cease specific practices. While this approach is sensible and allows for experimentation, the new Perpetuity Structures aim to embed a long-term mindset within the local governance of each working group.

To restart their operations and secure funding, Guilds will need to submit a Perpetuity Structure to the appropriate governing body, such as the Governance Department or the Grants Committee. This structure should outline the group's commitment to perpetuity and the specific mechanisms they will implement to achieve it.

Perpetuity Timeframes

While embracing perpetuity, the community should recognize the importance of setting realistic timeframes for success. Working groups, in collaboration with the Grants Committee, will need to iteratively evolve their Perpetuity Protocols, adapting to changing circumstances and learning from experience.

It is acknowledged that not all projects will succeed immediately, and a certain level of failure tolerance is necessary.

Perpetuity Products

To counterbalance the risks associated with Perpetuity Trials, working groups are encouraged to develop Perpetuity Products – initiatives that generate income and offset the potential losses from experimental projects. This approach ensures that the overall financial sustainability of the working group is not threatened, even if some trials fail to gain traction.

To conclude, some other concepts discussed in the proposal considered the process for how new and relaunching working groups should be treated, brand usage and cross-charging, and honoring the community's excellence along with the proposed success metrics.

It is refreshing to see new ideas sprout up about how best we can restructure, this shows that the community members are involved and are taking steps to ensure the right path is followed.

Join the conversation today or start your own by visiting Forum. Have an amazing weekend!

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