• bDIP-01: Correcting Grant Proposal Requirements
  • Brings the Constitution in line with the practices of the Grants Committee, providing clarity for future funding requests
  • Patch; quorum of 40 votes required
  • RESULTS: 49 votes; 98% Yes, accept the bDIP change
• bDIP-02: Coordinated Timing Across BanklessDAO
  • Establishes Universal Coordinated Time (UTC) as the single reference timezone for meetings and events across BanklessDAO.
  • Minor Change; quorum of 51 votes required
  • RESULTS: 79 votes; 98% Yes, accept the bDIP change
• SAFE tokens in the Banklessvault.eth wallet are being delegated to DAOstewards
  • Link
• Coordinape round funding will be paused, as a result of the findings regarding its misuse
  • Proposal Link
  • Incident Report and Next Steps
    • Link
  • DAO-level Coordinape compensation rounds are paused until a viable alternative can be found
  • The amount allocated to the new compensation alternative will be lower than we had been using
  • Proposals for alternatives are in progress
• [Community Vote] Grants/Funding Strategy for S7
  • A new Project Funding Template will adopted
    • Link
    • RESULTS: 27 votes; 89% Yes, adopt the new template
  • A new Department Funding Template will be adopted
    • Link
    • RESULTS: 25 votes; 88% Yes, adopt the new template
  • A new Project Assessment Framework will be adopted
    • Link
    • RESULTS: 24 votes; 79% Yes, adopt the new template
  • The Grants Committee will receive 100,000 BANK additional compensation for Season 6, to be distributed amongst the GC members via Coordinape
    • RESULTS: 27 votes; 52% Yes, grant the GC additional compensation for S6, to be distributed via Coordinape
    • RESULTS: 22 votes; 71% for additional compensation of 100,000 BANK

Community-Indicated Direction

These temp-checks have been posted on the Forum for discussion and voting, but their details are not ready for immediate implementation. This list indicates new experiments and directions the community is considering taking, but specifics are still being worked out. The vote on this Seasonal Specification will not impact the results of these discussions.

• Guest Passes may become limited to 4 weeks with 2 renewals
  • Link
  • Further discussion is needed
  • No formal proposals have been presented
• All Snapshot votes may be posted using shielded voting if the Season 6 trial produces positive results
  • Link
  • Further discussion and testing is needed
  • Results so far have been positive, with no reports of challenges
  • A future bDIP will be required before official implementation
• Purpose-Driven Guild Funding will not be implemented for Season 7
  • Link
  • Further discussion may be incoming
• PENDING QUORUM: bDIP-03: Dynamic forum quorum for bDIPs
  • Establishes the precedent for an adjustment to quorum requirements to be categorized as a “major change” to the Constitution
  • Modifies the Forum quorum requirements to adopt a formula-based approach that evolves with DAO activity levels
  • If Major Change classification vote holds, a quorum of 63 votes is needed
  • CURRENTLY: 32 votes; 91% Yes, modify forum quorum
• PENDING QUORUM: bDIP-04: Departments
  • Codifies Departments into the Constitution
  • Provides increased clarity on the formation process of new Departments
  • Major Change; requires quorum of 61 votes
  • CURRENTLY: 23 votes; 82% Yes, accept this bDIP
• PENDING: bDIP-06: Code of Conduct Change
  • Adds detail regarding prohibited behaviors and actions
  • Provides direction for addressing occurrences of these behaviors
  • Patch; requires a quorum of 40 votes
  • CURRENTLY: 17 votes; 82% Support direction of bDIP, but needs improvement

Season 7 Operations Timeline

If this proposal passes Snapshot, the following timeline will fall into place for Season 7:

• February 10: The Season 7 Kick-Off Event will be held on Twitter
• February 13: Season 7 begins
• April 7: All funding requests from guilds, departments, and projects to be posted to the Forum for the Grants Committee to review
• April 7 - 13: Grants Committee to work with groups to review funding requests
• April 14: Draft 1 of the Season 8 Specification to be posted to the Forums
• April 14 - 20: Grants Committee to work with groups to finalize funding requests
• April 14 - 23: Season 8 Grants Committee Election applications accepted
• April 24: The Season 8 Grants Committee election will be posted to Snapshot
• May 1: The Season 8 Specification will be posted to Snapshot
• May 1: The Season 8 Budget Request will be posted to Snapshot
• May 8-14: Gap Week
• May 14: Last day of Season 7

POLL

Approve Reject Abstain

Forum Post: Link

SUMMARY

According to the constitution there are four seats open for the Grants Committee for the next term (Season 7 and Season 8).

Additionally, one extra seat is available for half a term (Season 7 only) due to a member removal.

GC Member terms ending:

• p8ul.eth
• raybankless.eth🏴
• Bananachain🏴(Nanner) (half)
• tesa_fc (half)

Election:

You can get more information about this election and see all applications in this forum post.

In summary these are the 3 applicants by their Discord handle:

• p8ul.eth
• raybankless.eth🏴
• Bananachain🏴(Nanner)

Since only 3 applicants applied within the submission period, Grants Committee will function with 6 members for Season 7.

With only 3 applicants for 4 open positions, to accurately collect community sentiment this vote will be Single Choice Voting of Approve/Reject to elect all 3 candidates.

Additionally, this vote will be using Shielded Voting as per the Shielded Voting Testing.

The BanklessDAO Constitution failed to capture the operational realities of the Grants Committee, and incorporated incorrect requirements (quorum, ungated polls) for grant proposals. This bDIP will bring the Constitution in line with the practices of the Grants Committee, providing clarity for future funding requests.

BDIP BACKGROUND

The BanklessDAO Constitution lists Forum quorum requirements for grant applications which are specified in the Firming Up Governance 6 Snapshot vote. Those quorum requirements were interpreted by the Grants Committee as having been vacated by the Quorum Removal Vote 2. In the perceived absence of a quorum, the Grants Committee created its own quorum adjustment method 2, with help from the GSE, and this has been in operation since July, 2022. Later, the Constitution was enacted via a Snapshot vote which incorporated the incorrect quorum information 4.

The BanklessDAO Constitution also states that proposal votes are REQUIRED to be ungated. This was never specified in any seasonal specification or previous Snapshot, and introduces significant security issues (sybil attacks). There have already been one suspected and one confirmed case of non-BanklessDAO members voting for grant proposals to meet quorum requirements, so it’s important we ensure the Constitution does not encourage this.

This bDIP’s intent is to patch the two bugs listed above.

BDIP SPECIFICATION

Since this is a “bug fix”, this bDIP can be considered a patch.

Current Form

Forum voting leverages one vote per user and is not token-weighted or gated. Forum proposals require 70% approval to pass to successive stages of governance. Proposals must be posted for one week unless the request exceeds 1M BANK. In these instances, they must be posted for two weeks. Forum quorum is the minimum number of voters that need to be present for the vote to be valid and is listed in the following table. For example, if your Forum post is asking for 50,000 BANK or less, only 25 voters need to cast their votes for the vote to be valid.

|Requested Bank|Forum Quorum| | --- | --- | |< 50k BANK|25| |50k - 250k BANK|31| |250k - 500k BANK|40| |500k - 1M BANK|51| |> 1M BANK|63| |Governance (Major)|63| |Governance (Minor)|51| |Governance (Patch)|40|

[See Snapshot 6]

Proposed Form

Proposal votes are one vote per user and are not token-weighted. Grant proposals must meet the quorum requirements set by the Grants Committee (available on their Notion page 3), which may be adjusted seasonally at their discretion.

Governance quorums are listed below.

|Governance Update|Forum Quorum|Approval %|Timeline| | --- | --- | --- | --- | |Major|63|70%|1 week| |Minor|51|70%|1 week| |Patch|40|70%|1 week|

EXPECTED IMPACT

The Constitution will accurately reflect the current quorum requirements in effect at BanklessDAO.

NEXT STEPS

1. Get Forum consensus (40 votes) - DONE
2. Get Snapshot consensus
3. Update the Constitution

WORKING GROUP BACKGROUND

links was the Grants Committee Lead from S4-5 and Champion of Bankless Card. HiroKennelly is a long-time DAO member and helps lead various projects… Trewkat is a member of Writers Guild and Lead Staff Editor of the EPA. Siddhearta is the Writers Guild Coordinator and Newsletter Team Champion.

Poll

Approve Reject