Dear Bankless Nation 🏴,

The recent community call centered on a significant discussion regarding Jengajojo's forum proposal, which coincided with a snapshot proposal addressing the same issue—the distribution of the recently unlocked OP tokens. These tokens were initially locked for a year as part of Optimism’s Retro Public Goods Funding (RPGF3) campaign, executed last August by groups like IMN, Bankless Africa, DAOStewards, and Nacion Bankless. The forum discussion reflected underlying tensions, highlighting the need for clear, transparent decision-making as funds flow into the DAO's Treasury. Whether it's multisigs returning assets or payments of OP tokens, clarity is essential to prevent future monetary disputes.

Additionally, Links suggested an innovative idea to establish a yield farm using ETH deposits, with the generated yield being allocated to fund in-real-life (IRL) events to foster stronger community bonds and provide practical ways to support the Black Flag Initiative. It might also include sharing funds with community members to host local events, thereby expanding the initiative's impact. While this concept is still in its early stages and may not yet have widespread support, it's a call to action for the community to engage, propose ideas, and contribute to a collective vision.

As we continue rebranding and redefining our community’s purpose, it's crucial we think about revenue. However, revenue alone won't sustain us; we must also stand for something meaningful and deliver tangible value. By working together, we can build a transparent, purpose-driven future and strengthen our community’s foundation for the long term.

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

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

Snapshot Votes

• Proposal to Disburse OP Received for Optimism 2023 Collective Intents Campaign

Proposals in Discussion

• Funding our shared future [OP Distribution]

Building Financial Trust for the Future

Author: Lucent

Monetary discussions are usually very volatile, and working through them takes a lot of patience and careful reasoning. This discussion came up in this week’s community call in response to the Forum proposal by Jengajojo. The issue centers around the distribution of the recently unlocked OP tokens, which were locked for a year as part of Optimism’s Retro Public Goods Funding (RPGF3) campaign, carried out last August by four independent groups: the IMN, Bankless Africa, DAOStewards, and Nacion Bankless.

Jengajojo’s “Funding our Shared Future” proposal suggests that the distribution of these tokens should take into account the work done by some RPGF3 contributors who were either underpaid or not paid at all, while the snapshot proposal requests that tlBANK holders authorize the DAO’s multisig to disburse these OP tokens per the terms of the already agreed budget. The community’s response to Jenga’s proposal showed displeasure as it seemed unnecessary and a distraction at this stage of our reorganization.

The reaction to the Forum proposal shows that the community is focused on forging ahead, leaving the past behind, and not giving a chance for our future to be haunted by the past. The return of the DAO’s assets by different org units to the DAO Treasury, most recently the Education and Marketing departments, is evidence that the future is the priority right now. Another piece of evidence is the current percentage of the Yes votes in favor of the Snapshot proposal for payment of work done a year ago by DAO contributors.

The Yield Farm

Money is an important tool in executing an idea and in building community, and while this might not be a direct response to the redefining our purpose mission, Links suggested setting up a yield farm where ETH can be deposited and the yield from that farm can be used to fund IRL events to help build a bond in the community. The funds from this farm can also be shared with some community contributors to host events in their area, hence creating an IRL and practical method to redefine our purpose and make it a pivotal part of the Black Flag initiative. Of course, this is not something everyone in the DAO should agree with immediately. Links only put this idea out to see if some members of the community will be open to it. Therefore, if you also have an idea that can make this initiative even better or more beneficial to the community, as always, feel free to engage.

We are still in the purpose-finding stage of our community, and revenue is important as we seek to rebrand ourselves in the best way possible. Still, we cannot rely on getting revenue without standing for something and trying to give value, so we should keep working together to build a better, transparent, and purpose-driven future and make our community strong again.

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