Catch up with what happened this week in the BanklessDAO.

Hello Bankless Nation!

It's said that a journey of a thousand miles begins with a single step, but in Season One, the BanklessDAO took a giant leap forward! There are some important events taking place as we wrap up the season, including Snapshot votes ratifying the DAO Treasury multi-sig and the Season Two Grants Committee members, along with our community Coordinape round for all L1 and higher members. Also this week, we take a moment to reflect on our journey together and to celebrate the many accomplishments of Season One.

Authors: Bankless DAO Writers Guild (BcEthHunter, siddhearta, EricCMack)

This is the official newsletter of the Bankless DAO.

BanklessDAO Weekly NFT Showcase πŸ”₯

πŸ§‘β€πŸŽ¨ Artist: Nittra

🏦 Auction Type: Open edition

πŸ’° Price: 0.02 ETH

#1. WGMI and #2. Probably Nothing

BanklessDAO artist Nittra introduced these creatures to the DAO during the BED Index campaign and they have become a cornerstone for Bankless Academy. These two pieces feature the cute Rockin' Monster and we hope you love them as much as we do!

Community Highlights

πŸƒβ€β™‚οΈ The #Bankless movement has turned into a #quitmyjob movement in the best sense of the word. Bullish news from David Hoffman at Mainnet 2021!

πŸ₯³ Kick-off Season Two on Twitter Spaces: BanklessHQ is going to be hosting a Season Two launch party on Twitter Spaces on October 8 at 11am EDT. Check out the agenda and make sure to RSVP for the event.

What’s New...

πŸ’° Coordinape Round is Active! The Season One Coordinape round is open for all L1 and higher members. One million BANK will be allocated this round, distributed in proportion to the amount of GIVE tokens allocated by your peers. The Coordinape round ends October 3.

New to Coordinape? Here's How-to Guide to get started.

πŸ“± Go "Bankless" in Your Social Media with Flote: We are all here to go Bankless in one way or another and to reduce our dependency on centralized companies for the products we use everyday. Flote is a social network without big tech censorship and vague community guidelines. On Flote people can express themselves freely, build communities, and earn digital money by providing valuable content. Right now, you can enter a contest describing your Bankless journey of how you are #JumpingShip from centralized control and win!

Don't forget to follow BanklessDAO on Flote!

🧠 Crypto Sapiens- Becoming a DAO Contributor: Yalor, core contributor at MetaCartel and Raid Guild, joins us to share his journey into crypto and how he became a core contributor at several prominent DAOs. Together, we discuss what the role involves, the process of becoming one, and how you can do the same.

πŸ’° BANK Token Legal Assessment: The Legal Guild conducted extensive research related to the genesis of the BANK token, the distribution and the utilities connected to the token. To incentivize and reward participation in creating the legal assessment, the Legal Guild tested out the use of UMA KPI Options. Using KPI Options creates a structure where each contributor to the project is incentivized to meet global deadlines for completion. The guild also used distribution of the KPI options to encourage participation in such a way that only quality work would be eligible for rewards.

Get Involved

🧐 Knowledge Sessions: The Analytics Guild is hosting The Graph study group on Tuesday, October 5 at 9:30pm EDT. This will be a four-week study group.

🧐 Knowledge Sessions: SafeMath and Reentrancy on Tuesday, October 5 at 6pm EDT with raphbaph.eth. Code Solidity well.

πŸ‘¨β€πŸŽ€ DAOPunks: Time might be running out to get in early! DAOPunks just released a roadmap. Don't sit on the Alpha. πŸš€

πŸ™ Sponsor: UMA β€” Diversifying DAO Treasuries. DAO Better.

🌞 Season One Recap

Season One is coming to a close this next week in the BanklessDAO, so it's a good time to look back at how far we have come in our journey together and to celebrate our accomplishments. It is hard to capture just how much we have grown over the last season, but here is a look at some of our work:

πŸ›Œ BED Index

The Bankless BED Index is the flagship product of the DAO. Created in collaboration with Index Coop, the BED Index makes it easy to HODL a diversified and balanced crypto portfolio. Launched in the beginning of Season One, it has nearly US$4 million in total locked value and has quickly become a tool for other DAOs to diversify their treasury.

🎞 Media

Weekly Rollup: (Spoiler: You're looking at it!) It’s hard to keep up with everything that happens in the DAO. The Weekly Rollup captures all of the community highlights, significant events, product launches and active proposals each week to help our members stay informed. It also features our weekly NFT drop, monthly MetaFactory drops, and ways to get involved.

Decentralized Arts: The BanklessDAO has a vibrant and passionate art community. In Season One, we saw the launch of our weekly NFT and cryptoart newsletter focused on sharing artists' stories and highlighting trends in cryptoart. Stay tuned for Season Two, when we start dropping the Alpha!

Mirror and Medium Blogs: Crypto media flourishes in spaces like Mirror, Medium and Twitter. The BanklessDAO Medium page was created with the intent of promoting crypto and bankless culture by featuring written content from DAO members. Anyone can submit articles for publication and all submissions are subject to passing through an editorial process to ensure the content is in alignment with BanklessDAO’s mission and principles.

Similarly, the BanklessDAO Mirror page features curated, high-quality content written by BanklessDAO members. Mirror is revolutionizing published media and makes it possible to monetize content in ways never before imagined.

Crypto Sapiens Podcast: In Season One, Humpty Calderon started Tuesday talks, which featured prominent guests in the cryptosphere to talk about web3 and all things crypto. These talks became the basis for the development of our Podcast Accelerator Program, which aims to support the development and production of podcasts like Crypto Sapiens. Subscribe now and look for more podcasts to be released in Season Two.

🎭 Culture

Weekly NFT Showcase: The weekly NFT Showcase has become one of the major revenue generating activities for the DAO. Each week features the work of different artists within the community and has paved the way for the promotion of crypto culture. From projects like Exploring the Metaverse to Mount Doge, and special editions commemorating moments in Ethereum history like the Ultra Sound Bat, which raised over US$100k and placed the BanklessDAO in the top ten sellers on Rarible in August.

MetaFactory Merch Drops: Our collaboration with MetaFactory started in Season Zero and the partnership has thrived in Season One. The merch drops have been a major source of onchain revenue for the DAO, with both the Ultra Sound Summer Set and the Back to School drop each generating over US$40k in revenue. BanklessDAO is now one of the top ROBOT holders based on the incentivized rebate as a percentage of sales.

DAO Punks: An original creation from the weekly NFT showcase becomes a collection of soon to be released NFTs. DAOPunks have created a unique NFT project reflecting the people inside DAOs. One of the unique properties of this project is the collaboration with MetaFactory, who is including one-off merch to coincide with each minted DAOpunk!

πŸŽ“ Education

Bankless Academy: The mission of the BanklessDAO is to help the world go bankless. In this pursuit, Bankless Academy is leading the way, building out courses on how to set up a wallet, and teaching users how to borrow and lend on Aave. One of the most ambitious projects of the DAO, it has already received grants from Polygon and Gitcoin Grants.

DEGEN: DEGEN is a Discord bot and is one of the first products the DAO released that solves for collaboration and efficiency. DEGEN was developed to manage bounties, automate POAP distribution, retrieve documents from Notion, and more. While still in active development, expect to see more from DEGEN in Season Two.

The Bounty Board: Another great in-house tool designed to solve for collaboration and engagement is the Bounty Board. Β The Bounty Board is integral to getting new members engaged and contributing to the DAO. Bounties are paid in BANK, and are a great way to earn your way to L1 status or just to fill the bags. The Bounty Board is also being developed as a product for other DAOs as well, garnering some major interest throughout the DAO ecosystem.

First Quest: Discord and Notion, while powerful tools for the DAO, can be overwhelming and a little disorienting. New members to the DAO need a clear path forward for how to contribute and engage with the community. First Quest solves the question of β€œHow do I get started?” By creating a gamified process for all new members to join the Discord server, new members are introduced to roles, guilds, and gradually open up access to more Discord channels as they progress. With more plans for development in Season Two, it will be very cool to see where the Quests will lead!

DAO Dash: The Analytics Guild created the DAO Dash to further enable collaboration and support for DAO projects and guilds. The community dashboard presents visually appealing insights to aid in data-driven decision making. The dashboard is starting with data from tipping, Discord and Snapshot, and will focus on dashboards for engagement, governance and education in Season Two.

πŸ§‘β€βš–οΈ Governance

Since the beginning, the BanklessDAO treasury multi-sig has been controlled by the Genesis team. With the Season One Snapshot vote this week we are transferring control of the DAO Treasury multi-sig to DAO members. This is a big step towards the goal of being decentralized!

🍁 Heading into Season Two

Season One has been a huge success! We have all witnessed the steady growth and development taking place within the DAO week after week. As we look forward to Season Two with anticipation, you have to wonder: What will the BanklessDAO build next? With the amount of content, culture, education and tooling we have already created, the moon is the limit! πŸš€ DAO LIFE! πŸ’ͺ

🚨 Live Proposals 🚨

✍️ Bankless DAO Treasury Multi-sig Signer Ratification: This Snapshot vote is ratifying the new set of multi-sig signers for the Bankless DAO treasury, making the DAO treasury truly decentralized as we head into Season Two.

🏦 Bankless DAO Season Two Grants Committee Ratification: This Snapshot vote is ratifying the Season Two Grants Committee members with the power to receive and distribute the Season Two Grants Committee Budget via the 4 of 7 multi-sig.

πŸ’Έ Grants Committee S1 Compensation: The proposal to compensate members of the Grants Committee for Season One and Two has passed consensus on the forum and will be moving to Snapshot vote this week.

Proposals in Discussion

🚧 Project Proposal Framework: This season, while tremendous progress has been made in guilds, guidance on projects has fallen behind. People are confused about when to write a proposal, how to get feedback, what to include, and a number of other important details that go unnoticed. This forum post introduces a proposal framework to resolve a number of these pain points.

πŸ’° $BANK on Polygon Layer Two! The Grants Committee has worked very hard and the proposal is now ready for review. This proposal aims to configure bridging BANK between Polygon and Ethereum mainnet. It would allow the bot to send Polygon BANK instead of ETH BANK, saving us tons in gas on L1.

πŸ΄β€β˜ οΈ Roles in the Analytics Guild: Analytics Guild would like to invite everyone to check out the proposed Analytics Guild Roles for Season Two. This is an invitation to learn how they will work within the Analytics Guild and DAO next season.

🌊 Level One Access for Balancer 80/20 Pool: This proposal would allow holders of BPT, the liquidity-providing token for the BANK/ETH pool to still qualify for their Level One status in the DAO, allowing virtually all DAO members to take part and still have their contribution levels remain the same. Best of both worlds!

🌍 Atlantis World Discussion: This initial proposal discusses the opportunities of building a fully Web3-enabled, token-gated city for the BanklessDAO community with NFTs, video calling, DeFi + in-game DAO voting! The space will be map-sized and totally personalized with Bankless brand assets.

Action Items

♠️ Sign up for Bankless Hold’em: A winner takes-all poker tournament. 500 BANK buy in. Go make some BANK and then lose it to IcedCool. 😎

🚨 VOTE: Ratify the DAO Treasury Multi-sig signers and the Season Two Grants Committee members.

πŸ’° Coordinape: Log into Coordinape to create your profile and allocate your GIVE tokens.

πŸƒβ€β™€οΈ Catch up: Review this week's community call notes or listen to the recording.

πŸ™Thanks to our sponsor


UMA helps DAOs build products to diversify their treasury. Most DAO treasuries are imbalanced. By using UMA’s range tokens, KPI options, and call/put options, DAOs can prepare their treasury for any market.,c_limit,f_auto,q_auto:good,fl_progressive:steep/

πŸ‘‰ Join the #Bankless Channel in the UMA Discord.

πŸ‘‰ Tell UMA What DAOs you belong to.

πŸ‘‰ Earn KPI Options. Go to the Discord to learn more.

Meme of the Week