BanklessDAO Weekly Rollup #24 | October 15

Catch up with what happened this week in the BanklessDAO.

Oct 15

Dear Bankless Nation,

We've got some ALPHA this week! DAOpunks released its roadmap and the mint will be in October! Join their Discord, read The DAOpunks Manifesto, check out the sick t-shirts (each featuring the JPEG, metadata, and QR code linked to the NFT), and join the future of on-chain work. Hint - read to the end of the article for an extra dose of alpha.

We also have a new NFT Showcase featuring our favorite BanklessDAO artist, Perchy. People from all over are flocking to the Citadel. Some are driven by FOMO, while others are seeking financial freedom. If you are part of the Bankless Nation, you know WAGMI!

There are many new proposals this week - take time to review them below, cast your vote, and then enjoy your weekend catching up on all the news that happened this week in the BanklessDAO.

Authors: Bankless DAO Writers Guild (BcEthHunter, frogmonkee, siddhearta, hirokennelly.eth)

This is the official newsletter of the BanklessDAO. You are subscribed to this newsletter because you were a Premium Member of the Bankless Newsletter as of May 1, 2021. To unsubscribe edit your settings here.

UMA helps DAOs diversify their treasury and build community.

BanklessDAO Weekly NFT Showcase 🔥

🧑‍🎨 Artist: Perchy

🏦 Auction Type: 420/420

💰 Price: 0.025 ETH

Bankless Location #2: The Citadel

The Citadel looms large over the Bankless Nation, and from every corner it can be seen. Some see it as ostentatious, or even ominous. Others see it as a beacon of hope signaling financial freedom.

But most look upon it with desire and FOMO.

The lower levels are packed with newcomers patiently stacking their sats, hoping to one day join the party as a Whole Coiner.

The banks and institutions that once mocked Bitcoin now flock in droves to the Citadel. El Salvador proudly unfurls its flag.

Probably something.

Community Highlights

🌅 Bankless is making an impact in the SEC! Questions around crypto regulation are all over the news lately, and this week SEC commissioner Hester Pierce concluded her talk with the Texas Blockchain Summit with a Bankless tagline. We are headed West and we are not alone on that journey!

RYAN SΞAN ADAMS - rsa.eth 🦇🔊🏴 @RyanSAdams

Well folks...@BanklessHQ was the concluding remarks in a speech just made by an SEC commissioner 🤯 We're are headed West. This is the frontier. It’s not for everyone...🌵🐃 Amazing. Also incredible speech @HesterPeirce. We need more regulators like you.👏👏👏

Hester Peirce @HesterPeirce

If government wants to bring law to crypto, it should behave lawfully: https://t.co/bFbwgDGgkp

🐸 Frogmonkee has the keys to the next big unlock for DAOs: Most of today’s DAOs rely on a centralized Grants Committee to distribute funding, making the flow of capital contingent on these few committee members. Put simply, it’s centralized. DAOs need to find better ways to decentralize capital flow, allowing them to create more resilient, scalable economies that multiply the value created with the capital they use, all while empowering their contributors to build more sustainable work.

Bankless 🏴 @BanklessHQ

What's the next big unlock for DAOs? 👏 Decentralizing 👏 capital 👏 flows 👏 @frogmonkee explains why this will create massive benefits for this young ecosystem using @banklessDAO as the case study Must read for any DAO contributor 👇 newsletter.banklesshq.com/p/the-next-big…

The next big unlock for DAOsWhy decentralizing capital flows will unlock a wealth of opportunity for DAOsnewsletter.banklesshq.com

What’s New

🧠 CryptoSapiens Podcast: Tracheopteryx, core contributor at Yearn and Coordinape, joins us to share a glimpse into the early days at Yearn, its initial incentive model for contributors, their philosophy for rewarding people for doing cool shit, and how that philosophy evolved into Coordinape.

Crypto Sapiens 🧠 @CryptoSapiens_

Episode 4 is out now! 🎧 @tracheopteryx, core contributor at @iearnfinance @coordinape, joins us for a high level discussion on rewarding #DAO contributors and creating thoughtful incentive programs. open.spotify.com/episode/2vKZ7T…

Rewarding DAO contributors and incentivizing participation - TracheopteryxListen to this episode from Crypto Sapiens on Spotify. Tracheopteryx, core contributor at Yearn and Coordinape, joins us to share a glimpse into the early days at Yearn, its initial incentive model for contributors, and their philosophy for rewarding people to thank them for doing cool shit, and how…open.spotify.com

✍️ BanklessDAO Medium: Catch up on the latest publications from the BanklessDAO Editing and Publishing Arm (EPA). Have a piece you would like to contribute to the blog? Submit it here.

Bankless DAO 🏴 @banklessDAO

Are #Stablecoins really stable? @ffstrauf walks us through the three types of stablecoins and how they are backed.

What’s Behind the Backing of Stablecoins?With a lot of volatility in cryptocurrencies, there is a need for a calm place to store your investment when you redeploy your capital or just trade in and out of investments. For non-HODLers this…medium.com

Bankless DAO 🏴 @banklessDAO

What is the actual environmental cost of cryptocurrencies? @samij_m digs into the details.

Crypto isn’t bad for the environment. Here’s why.But what is the actual environmental cost of cryptocurrencies? It’s not as much as pockets of the mainstream media think. And, even though the Web 3 world is growing, the environmental cost is…medium.com

⚠️ You're going to see changes to Discord this week! The Ops Guild is implementing 🦚 Project and ⚔️ Guild gating this week, which means some channels might disappear. If you can't find a channel, go to General (Level 1) and reselect #guild-select and #project-select channels to regain access.

There is also an open proposal to migrate all local geographies to Telegram to reduce the number of channels on Discord. Make sure to VOTE for that proposal!

Get Involved

🧑‍🏫 Writers Guild Office Hours: One interesting development in the DAOsphere is using an open chat room to discuss ongoing project and topics, all in a free-form way. Ask questions or just hang out. Samantha is available Tuesdays from 11am until noon PDT in the #writers-room voice channel. Might other guilds follow?

🤔 Knowledge Sessions: MEV and Arbitrage on Ethereum with alcibiades.eth on Tuesday, October 19 in the #dev-workroom.

📚 International Book Club Sessions: Bring something you learned this past week to the Cool Teacher's Room and share it in a friendly each-one teach-one style of discussion. Wednesday, October 20 at 12 PM UTC.

🎨 Design POAPs for Community Calls: The Design Guild is taking over creation of POAPs for the weekly community call. This is a great opportunity to share your work and to build your portfolio.

🙏 Sponsor: UMA — Diversifying DAO Treasuries. DAO Better.

DAOs and the Future of Work

The systemic shock of COVID-19 changed forever the way we live. Remote work. Furloughs. Quarantine. Gone were the morning routine, commuting, mindless meetings, afternoon slumps, and that nagging feeling that there was something better, if only out of reach. But that was just the beginning. While our offices closed, our minds opened. Suddenly there was a surplus of time - time to spend with our families, time to cook mouth-watering meals for the ones we love, time to go on long, wandering walks, time to pick up new hobbies, and time to just be, to exist. And we are never turning back.

The pandemic reminded us that there is a world outside of work, and this realization changed our views on when, where, how, and why we work, leading to what economists called The Great Resignation. With this revelation, is it any surprise that we want our lifestyles to determine our work, not our work to determine our lifestyles?

DAOs represent this shift in our thinking. DAO members work at their own pace, whether that’s ten hours a week or fifty, at one DAO or three. Need more money? Work more. Need more time? Work less. But work for yourself.

But it doesn’t stop with working for yourself. The future of work doesn’t only mean working your own hours; the future of work is one where we find value in what we create and produce, where we find value in what we contribute. All DAOs are digitally-native communities centered around a mission shared by its members. And this idea of a mission isn’t just fanciful marketing. Unlike traditional corporations that have financial obligations to their shareholders codified into law, DAOs can organize around a more diverse set of goals that are not designed to transfer “value” to shareholders. Combine meaningful missions with flexible working hours and people find themselves wanting to contribute, rather than being compelled to contribute.

These are the promised lands we foretell. A better world for all.

CORPORATEpunk to DAOpunk

The DAOpunks NFT collection represents this shift from off-chain work to on-chain work, the transition from mundane and transactional labor to fulfilling self-actualization. DAOpunks embody our true selves, transmuted to the metaverse. DAOpunks depict our personalities, traits, quirks, features, all displayed in full-form, free from the corporate masks we would otherwise wear.

DAOpunk #1 Bio: Told corporate America to shove it. Full-time DAO employee. Spreading crypto culture through art and memes. Works to live, not lives to work. Passionate about crypto, defi, & smart contracts. Fxck the banks. Hodls #ETH & #BTC

The first DAOpunk was conceived within BanklessDAO by Crypto Bushi, and DAOpunks has since expanded into its own community of avid contributors. Bushi himself lives and breathes the vision he set forth in his collection. Having previously worked in small business acquisition, Bushi helped aspiring entrepreneurs acquire existing businesses to enable them to transition out of the corporate world and into a more meaningful existence. Since joining BanklessDAO, Bushi has gone full-time crypto and actively participates in multiple DAO initiatives, in addition to growing the DAOpunks community. With DAOpunks, Bushi synthesizes his diverse skills to energize and enable people to join the DAO ecosystem - the next natural evolution of his life’s work, and the next natural evolution of labor relations.

Yet note - true to the DAOpunks ethos, Bushi is not creating this collection alone. Bushi collaborates with Sinjun, who designs many of the intricate graphics and pattern details seen on the DAOpunks apparel. As creative directors, Bushi and Sinjun manifest the truth that together, we go further.

A Glitch in the Matrix

One of the remaining challenges with NFTs is bridging the gap between the off-chain and on-chain worlds. To this end, the DAOpunks team is collaborating with a to-be-named digi-physical factory to bring DAOpunks to meatspace.

Each DAOpunks NFT is coupled with a limited-edition t-shirt. The physical shirt will feature the DAOpunks JPEG along with metadata and a QR code signaling proof of ownership. The claim window for the t-shirts will be announced sometime after minting.

DAOpunks minting will occur in October. Specifics will be announced through DAOpunks’s Twitter and Instagram pages and its Discord server. Each DAOpunk will exemplify a specific archetype found within the DAO ecosystem. At launch, the archetypes will be:

Shadowy Super Coders
Creatives and Meme Lords
Crypto Natives
ANONs

Roadmap and Future Plans

The DAOpunks roadmap is a living document, energized by its community. What started as a single NFT art piece inspired by Bushi’s experience in BanklessDAO has turned into a community aligned behind a vision to help people transition from off-chain alienation to on-chain fulfilment.

The next step in this journey is the DAOpunks public mint this October. As per the will of the community, 25% of sales from the public mint (and 50% of secondary sales) will fund a public treasury. This public treasury will contribute to initiatives consistent with The DAOpunks Manifesto. One such initiative is to fund a TradCorp off-ramp to a DAO life on-ramp for pioneers looking to blaze trails and build bridges to the future of economic liberation.

Upon the success of our initial launch, we will bring DAOpunks to other DAOs. We envision a massive DAO-to-DAO collaboration campaign, where artists from multiple DAOs will create artwork that plays with the ethos of DAOpunks while staying true to their own DAOs and the Manifesto.

Beyond that, the future of DAOpunks is limited only by the imagination of its contributors. Limited-edition merchandise? 3-D printables? Metaverse wearables? A DAOpunks extended universe? It’s up to our community to decide. That’s the way of the DAO. And whatever the future holds, know that we are moving towards fertile promised lands, where all find freedom, opportunity, meaningful work, community, and untold abundance, where all humans are freed from the drudgery of mindless, soul-sucking labor. True liberation. And it’s directly because of the contributions from the DAOpunks community - people like you. Come join us.

🎁 Good news: All members of the BanklessDAO with more than 35,000 BANK are whitelisted for the pre-sale mint. Join the Discord for more information and for status updates.

Get Plugged In

👉 DAOpunks Official Twitter

👉 DAOpunks Official Discord

👉 DAOpunks Official Instagram

🚨 Live Proposals 🚨

🌊 Balancer Liquidity Mining Program: The Balancer Liquidity Mining Program received thorough forum soft consensus. A proposal to fund and kick off the initiative was created and submitted to the Grants Committee; however, the Grants Committee was unable to vote and reach quorum as five of seven Grants Committee members are involved with the proposal and voting on it would create a conflict of interest. As such, the Balancer Liquidity Mining Program proposal must go to snapshot for approval by the DAO.

Bankless DAO 🏴 @banklessDAO

Dao's, like startups, struggle to gain liquidity. Learn how to increase start-up token liquidity with @BalancerLabs custom-weighted pools. Written by @eaglelex_eth and @thefrankamerica medium.com/bankless-dao/b…… #balancer #banklessdao #liquiditypools

Balancer Enables DAO Growth Through Customized LiquidityPopularity in the blockchain ecosystem does not solve the problem of having low liquidity. Although the value of a token and its market cap may grow thanks to worthwhile developments by a community…medium.com

Proposals in Discussion

🪐 BanklessDAO to participate in the GBM Auction of the Gotchiverse Reaalm Parcel: This proposal requests funding for the upcoming REALM Land Parcel Auction #1. As background, Alchemica is in-game currency which can be farmed and used within the Gotchiverse to establish structures. The exact amount of Alchemica stored within each parcel will be determined when the game goes live. Holding land and farming Alchemica within the Gotchiverse would help diversify the treasury, promote BanklessDAO within the Aavegotchi community, and provide BanklessDAO members a meetup place in the Metaverse using Aavegotchi characters. (Aavegotchis are on-chain collectible ghosts staked with Aave’s interest-generating aTokens.)

👷 Data Integration Infrastructure: This proposal would fund the creation of infrastructure permitting content produced across the DAO to be accessible via a Content Gateway. This Content Gateway would collect the independently-created content of our members and guilds and make such content accessible at a single entry point. The Content Gateway would allow for more efficient content production by streamlining the operations and interface with the content, while enabling and promoting scalability. The Content Gateway is meant to boost productivity and value output by removing the friction from data sourcing, reducing duplication of effort, and leveraging solutions previously developed. Importantly, this infrastructure would bring the DAO closer to its goal of 1B people going bankless by allowing consumer-facing products to harness its power and potential.

💰 Polygon BANK & DEGEN Tipping: We need to consider bridging BANK between Polygon and Ethereum. High gas fees on Ethereum add friction to Bankless DAO members's ability to send BANK tokens. Moving to Polygon reduces fees to about $0.0001 per transaction, eliminating the pains of layer 1 we all know and love.

🦋 Migrate Local Geographies to Telegram: Our Discord has an overwhelming number of channels, and its becoming too cluttered to follow all the active developments. We need to minimize this. Moving chapters to their own Telegram makes communication easier and increases the surface area of the DAO.

🧑‍⚖️ New Ombuds Member: This proposal calls for the election of a new BanklessDAO Ombuds member, who will substitute Eagle (elected to the Grants Committee). If you are interested in becoming part of the Ombuds, please reply to this post and present yourself to the community. A legal background is not needed. After the candidacy stage, which will end on Wednesday, October 20 at 11:59 pm PDT, there will be a vote (were more than one candidate to apply).

🗻 Olympus Pro: This proposal would implement a bond program for the BanklessDAO to own its liquidity. DAO-owned liquidity is the future. By implementing a bond program for BANK-ETH liquidity, bDAO can distribute its governance tokens to more users while also increasing its own liquidity. The proposed bond program would sell BANK at a discount in exchange for BANK/ETH LP tokens. The discount rate on bonds is achieved by a novel pricing mechanism that allows the market to set the discount. Simply, bond prices are decreased until a bond is purchased, which then pushes up the price of the next bond.

Action Items

📱 Join Telegram: For BanklessDAO news, updates, and activities.

🚨 VOTE: For the Balancer Liquidity Mining Program.

👨‍🎤 Join DAOpunks Discord: Stay up to date on the latest news.

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

🙏Thanks to our sponsor

UMA

UMA helps DAOs build products to diversify their treasury. Most DAO treasuries are imbalanced, holding too many native-governance tokens. By using UMA’s success tokens and KPI options, DAOs can fortify their treasury, preparing for any market while building loyalty.