18 Sep BanklessDAO
Bankless is a movement for pioneers seeking liberation from the tyranny of the traditional financial system. Going Bankless means adopting decentralized, permissionless, and censorship-resistant technology. The aim is to achieve financial self-sovereignty, security, and prosperity and to help the world with user-friendly onramps for people to discover decentralized financial technologies through education, media, and culture.
The idea of creating BanklessDAO has been taken by the Bankless LLC. The entities are formally separated. The Bankless LLC holds ¼ of the supply of $BANK tokens
The access to the discord server is limited to holders of $35k $BANKS. Users are identified by wallet number and (usually) a pseudoanonymous name.
The DAO is organized in 13 Guilds (Writer's guild, Treasurer, Translator's Guild, Research Guild, Ops Guild, Marketing Guild, Legal Guild, Education Guild, Design Guild, Developer's Guild, Analytics Guil). Each Guild has a multisig.
The only difference is given by the competences, among the different guilds. There is one important group of members (7 members) who delivers grants on the basis of precise funding proposals provided by members.
No distinctions between groups exists with regard to the sofware.
Every member can enter into a Guild on a voluntarily basis. Multisig signers where selected within every Guild. The Grants committee has been elected by the whole DAO
For the Guilds see above. Usually a new member presents himself or herself in the start-here channel. Other people help him or her to onboard.
In addition, there are ambassadors, who fulfil the function of representing the DAO in the DAO in the different geographic areas (50)
Goals and Implementation
The community incentivizes work and collaboration through the allocation of $BANK tokens in the form of tips and allocation of $BANK tokens
During Season 0 – Members were paid through tips by other members; Finally an additional supply has been distributed through coordinape. It has been the largest use of coordinape so far
During Season 1 – Guilds are funded by the Grants committee with a fixed and equal amount of tokens. Each Guild can then decide how to distribute tokens among the members. Additional funding can be requested by every member
We don’t have measures as the DAO has 3 months life. Nevertheless the flexible structure seems to work well. We are testing UMA's KPI options.
Our devs are remunerated as every other Guild. Plus, they can apply for funding. Due to the media-educational purpose, costs has not been expensive so far.
We have created a bounty board, a tool to allocate work. It could be of interest for other DAOs.
If treasury is involved, a majoritarian vote on snapshot. If treasury is not involved, a forum post is sufficient.
Everyone who is holder of 35k BANKs
The directly involved Guild or the members that were the promoters
We have created an Ombuds office composed by 5 members selected by the community.
Every Guild works in an independent way. The community has always a veto power. We are working on possible conflicts of interests
A core team of people able to take fast decision seems to be missing. for the next season an implementation of such a team is under discussion.