Title: Season 7 Specification and Community-Indicated Direction

Proposal Champion: 0xZFi

Date: February 5, 2023

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SUMMARY

This is the BanklessDAO Season 7 Specification. Compared to Season 6, this timeline has things scheduled sooner to hopefully achieve a smoother season transition for everyone. It also intentionally leaves Gap Week free of scheduled events to enable as many folks as possible to actually take a gap week. That break is important and I wanted to ensure our operational timelines were aligned to accommodate Gap Week by default.

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Operational/Governance Changes

These changes have been proposed and have independently passed a vote on the Forum during the current season and their details are to be implemented upon their passage or in upcoming weeks. The vote on this Seasonal Specification will not impact the results of these previously-passed proposals.

• 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

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POLL

Approve Reject Abstain

Title: Grants Committee Election for S7 and S8

Author: Icedcool

Forum Post: Link

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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.

Title: bDIP-01: Correcting Grant Proposal Requirements

Scope: patch (bug fix)

Draft Authors: links

Working Group: links, hirokennelly, trewkat, siddhearta

BDIP SUMMARY

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

Title: Season 6 Seasonal Funding, Final Budget Items

Proposal Champions: Icedcool🏴#4947, 0xZFi#4882

Date: Nov 14, 2022

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SUMMARY

This additional budget package is to authorize the disbursement of 12,202,000 BANK for Season 6 budget items beyond Guild, Department, and Project funding to the Grants Committee Multisig.

Historically, these budget items have been included in the Seasonal Specification rather than the Seasonal Funding Request. In implementing the recent changes to the Season 6 Specification and the Season 6 Guild, Department, and Project Seasonal Funding Request, these items were unintentionally omitted from the seasonal transition documentation altogether.

Going forward, all allocations shall be defined within the Seasonal Funding Request.

Lastly, this budget package includes an accidentally omitted amount of 1,700 USDC to be sent to the Treasury Department to pay for the BanklessDAO Asset Repository (BrightDash). These funds were approved in the S6 Treasury Dept Funding Request by the Grants Committee, but did not make it onto the Season 6 Budget Snapshot.

SPECIFICATION

• Coordinape = 4,500,000 BANK
• Grants Committee Allocation = 702,000 BANK
• Grants Committee Project Fund = 7,000,000 BANK
• Treasury Department = 1,700 USDC

Total = 12,202,000 BANK and 1,700 USDC

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POLL

Approve Abstain Reject

Title: Grants Committee Election for S6 and S7

Author: jameswmontgomery.eth

Quorum Requirement: Not Applicable

Voting Threshold: Not Applicable (Weighted Voting)

Forum Post: Here

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SUMMARY

According to the BanklessDAO Constitution, there are four seats open for the Grants Committee for the next term (Season 6 and Season 7).

Additionally, one extra seat is available for half a term (Season 6 only) due to a member removal.

Members stepping down

• lion917
• jameswmontgomery.eth
• links
• 0xRene
• Ap0ll0517

Election:

Due to the limitation of characters that Snapshot imposes, it is not possible to have the full applications in this page.

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

In summary these are the 7 candidates by their Discord handle:

• senad.eth🏴#8782
• Bananachain🏴#6171
• Infinitehomie.eth#4930
• thinkDecade🏴#718
• Sprinklesforwinners#1125
• tesa_fc#9745
• Feems#4876

The voting system is weighted voting. You can distribute your vote to as many candidates as you wish and also choose the weight on it.

The 4 candidates with the most tokens will be elected as Grants Committee members for the next two seasons.

The candidate with the 5th most tokens will be elected as a Grants Committee member for the next season only.

Title: BanklessDAO Constitution & bDIP Standard

Authors: 0xJustice

Working Group: GSE Team

Date: September 17th, 2022

Forum Posts: Post 1, Post 2

SUMMARY

This snapshot is to adopt the BanklessDAO Constitution as our lead governance document and the location of our living agreements within the DAO.

The BanklessDAO Constitution represents BanklessDAO’s values, mission, structure, processes, and governance according to the best of our community’s ability to capture it. It is the codification of our community operating system and is meant to serve, rather than constrain its members.

The constitution includes sections defining:

• BanklessDAO
• DAO Membership Levels
• DAO Organizational Units
• DAO Cycles (Time Cycles)
• DAO Governance
• DAO Funding
• Code of Conduct

---

Additionally, this document and snapshot formally instantiates and adopts the BanklessDAO Improvement Proposal (bDIP) as the standard for making changes to the BanklessDAO Constitution and updating our living agreements.

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POLL

Approve

Deny

Title: Season 5 Guild/Project Seasonal Funding

Proposal Champion: links#7868

Date: July 31, 2022

SUMMARY

Per the Season 5 specification, Guild and Project funding requests were reviewed by the Grants Committee and were approved for a total of 19,501,085 Million BANK.

Of this amount, 50% of project funding (5,270,750 BANK) will be held by the Grants Committee Multisig to disburse mid-season, based on KPIs being reported.

This proposal seeks to ratify the distribution of these budgeted allocations(between guilds and projects).

BACKGROUND

Guilds

Upon review of all the Guild requests, the total request was for 8,959,585 BANK, itemized below.

Projects

Upon review of the Project Requests, the total request was 10,541,500 BANK, itemized below.

SPECIFICATION

Guild Funding = 8,959,585 BANK

• Operations Guild = 1,200,000 BANK
• AV Guild = 850,000 BANK
• Writers Guild = 823,000 BANK
• Education Guild = 755,000 BANK
• Marketing Guild = 720,000 BANK
• DAOlationships = 708,000 BANK
• Translators Guild = 698,000 BANK
• Research Guild = 628,085 BANK
• Dev Guild = 613,500 BANK
• Design Guild = 603,000 BANK
• Treasury Guild = 560,000 BANK
• Legal Guild = 446,000 BANK
• Project Management Guild = 355,000 BANK

Project Funding = 10,541,500 BANK

• Podcast Hatchery = 1,650,000 BANK
• Bankless Academy = 1,340,000 BANK
• Newsletter Team = 1,223,500 BANK
• Crypto Sapiens = 1,200,000 BANK
• EPA = 1,085,000 BANK
• International Media Nodes = 1,000,000 BANK
• Bankless Africa = 963,000 BANK
• Mad Hatter = 626,000 BANK
• Decentralized Law = 564,000 BANK
• Global Crypto Events = 500,000 BANK
• Infosec Team = 390,000 BANK

Guilds and Projects Funding Summary:

19,501,085 Million BANK

POLL

Approve the Season 5 Project and Guild Funding and distribute funds as per the specifications, disapprove, or abstain.

Title: BanklessDAO Season 5 Specification

Authors: Rowan, Rowan, Above Average Joe, 0xLucas, René

Copy Edits: Trewkat

Date: July 6, 2022

Forum Proposal: Draft 1, Draft 2

SUMMARY

This proposal introduces a specification for BanklessDAO Season 5. If this proposal passes Snapshot, the following details will fall into place:

• Season 5 will start on Monday, August 8, 2022
• Season 5 will end on Sunday, October 30, 2022
• Formal gap week will be on the week of October 31, 2022
• Governance Solutions Engineers will have the ability to change or replace the Seasonal Specification, subject to forum and/or Snapshot voting in order to implement the BanklessDAO Constitution & Community Handbook
• The Grants Committee will receive increased compensation funding starting in Season 5 (702K $BANK, increased from 400K $BANK in previous seasons).
• Seasonal Automatic Guild Funding will be implemented pending discourse on appropriate measures and considerations.
• The way BanklessDAO distributes contributor rewards through Coordinape will change starting in Season 5.
• 11.5M $BANK allocated for the Grants Committee. 7M for inter-season funding and 4.5M for contributor rewards.

SPECIFICATION

You can read the full specification here.

Title: Stake 10 ETH from Treasury using Rocket Pool Authors: 0xHunter#3863 Date Created: March 9th, 2022 Date Posted: March 30th, 2022 Status: Snapshot [Draft->Voting->Forum Voting->Snapshot->Closed] Forum Post: Post

TLDR

• Stake 10 ETH from the Bankless treasury with Rocket Pool
  • Generate 4.3% annual yield (potential ~10% after the PoS merge)
  • Support permissionless staked ETH pooling infrastructure
  • Gather data to support staking larger percentage of Bankless treasury ETH in the future

Summary

The proposal is to stake (10 ETH) of our ETH in the treasury (34.45 ETH) for rETH to generate passive yield on ETH and support permissionless, decentralized PoS ETH staking. The reason for starting with a 10 ETH stake is to minimize our initial Rocket Pool protocol risk exposure, and we should stake more after we are more confident in the benefits of staking our ETH with Rocket Pool. rETH is liquid and can be swapped back for ETH at any time if needed.

The future vision that this proposal will aid in proving out is to make holding rETH (or other decentralized ETH PoS pools) the standard for the BanklessDAO treasury using any ETH not set aside for gas. This proposal is our initial foray into this vision.

BACKGROUND

We currently have 34.45 ETH in our treasury that could be passively generating low-risk yield via securing the ETH PoS network using Rocket Pool’s protocol.

Rocket Pool docs: https://docs.rocketpool.net/ 1

MISSION & VALUES ALIGNMENT

This proposal would extend our treasury runway by generating low-risk yield, which would allow BanklessDAO to allocate more funds to support our mission.

This proposal is also highly aligned with BanklessDAO’s commitment to supporting fully permissionless, decentralized systems. Rocket Pool is currently the only fully permissionless, decentralized ETH PoS Staking system. This system allows anyone with less than 32 ETH and anyone willing to maintain a validator to secure the ETH PoS consensus mechanism. In the same way that the Ethereum community has elected to maintain low block size in the PoW consensus mechanism to allow for a higher degree of decentralization, Rocket Pool allows any amount of ETH to be staked, further decentralizing the upcoming PoS consensus mechanism.

Why not Lido?

Lido is not a truly permissionless platform and whitelists validators. This mitigates slashing risk but does not promote true decentralization. Rocket Pool has collateral mechanisms to mitigate slashing effects instead of whitelisting, which is outlined in the specification below.

SCOPE OF WORK

Stake 10 ETH from our treasury for rETH

SPECIFICATION

Yield: Currently, Rocket Pool’s website lists a 4.33% APR, which will decrease slowly as more ETH is staked and potentially jump up to ~9-12% APR (Reference by Justin Drake) after the PoS merge and fees are distributed to PoS validators.

Income generated per season:

10 ETH stake:

• 0.099 ETH per season pre-merge

• 0.249 ETH per season post-merge

Future potential of 34.45 ETH stake:

• 0.345 ETH per season pre-merge

• 0.861 ETH per season post-merge

Slashing risk: There is a slashing risk losing underlying ETH if the Rocket Pool validators misbehave, but this is heavily insured by the ETH and Rocket Pool token collateral that validators have to put up. And the pooled nature of rETH spreads the risk across all holders (Reference: 🤔 Frequently Asked Questions | Rocket Pool).

Smart contract risk: There is a risk of the Rocket Pool contracts being exploited, although greatly reduced as they have been audited by Sigma Prime and ConsenSys Diligence and have been operational on mainnet since November 9th 2021 and have gone through multiple rounds of beta testing (Reference: 🤔 Frequently Asked Questions | Rocket Pool).

SUCCESS METRICS OR KPIS

Yield: Any yield would be considered a success against our current ETH generating no yield. Slashing and Rocket Pool smart contract exploitation could move our yield below 0%, so we should still consider this a success despite a slashing event or smart contract exploit if our yield stays above 0%.

NEXT STEPS

Stake 10 ETH from our treasury for rETH

Proposal Name: Tokenomics - Fulfill Contractual Obligation with Balancer Regarding the BANK/wETH Pool on Ethereum Mainnet

Program Champion(s): Icedcool, nonsensetwice, general tokenomics crew

OP Date: April 2022

Status: Snapshot [Draft->Voting->Forum Voting->Snapshot->Closed]

Forum Post: Post

CONTENTS

1. TL;DR
2. Multisig Address
3. Background
4. Solution

TL;DR

Per bDAO’s agreement with Balancer Protocol, Balancer requires 475K BANK to distribute rewards to those who provided liquidity during the rewards period for the original BANK/wETH pool on Ethereum Mainnet.

MULTISIG ADDRESS

0xc38c5f97B34E175FFd35407fc91a937300E33860

BACKGROUND

The BanklessDAO (bDAO) Tokenomics team works to find and create opportunities for BANK token owners to incentivize their holding of the token. One such method is to partner with specific decentralized finance (DeFi) protocols to allow BANK token owners to increase their holdings by providing liquidity mining incentives to any BANK token owner that provides liquidity (Liquidity Providing/Provider, or LP) to BANK pools in those protocols. This mechanism not only allows for a higher yield percentage on fees accrued in said pools, but also provides rewards in the form of more BANK tokens, as well as protocol tokens.

One such agreement was made in August of 2021 to launch an 80/20 BANK/wETH liquidity pool with Balancer protocol[1] . The proposal passed and the BANK/wETH Balancer Pool on Ethereum Mainnet was established with liquidity mining benefits that allowed Liquidity Provider (LP) token owners to earn both BAL and BANK for participating. Due to miscommunication with the timing for rewards distribution, Balancer ran rewards for five weeks beyond what was agreed upon. As a result, they have come up short on BANK to distribute. Because bDAO values our partnership with Balancer, we want to address this discrepancy and provide Balancer with the necessary BANK to distribute as rewards to those who provided liquidity during the extended rewards period.

SOLUTION

This proposal addresses this inconsistency and fulfills bDAO’s obligation to Balancer and LP token owners. Upon approval, bDAO will provide 475K BANK to Balancer to distribute five weeks worth of liquidity mining rewards to LP token holders during the reward period, not only honoring bDAO’s agreement with Balancer, but in appreciation for their willingness to provide rewards . This will also serve to maintain bDAO’s social capital, as potential partners can be confident that bDAO executes on its responsibilities.

Title: BanklessDAO Season 4 Specification Authors: Rowan, J. Berg, 3DHippy, Above Average Joe, 0xLucas Date: April 8th 2022 Forum proposal: Draft 1

SUMMARY

This proposal introduces a specification for Bankless DAO Season 4. If this proposal passes Snapshot, the following details will fall into place:

• Season 4 will start on Monday, May 2, 2022
• Season 4 will end on Friday, July 29th, 2022
• Formal gap week will be on the week of August 1st, 2022.
• Season 4 will not include a cap on Project and Guild funding, though the Grants Committee will review budgets
• In Season 4, BanklessDAO will start supporting Gelato Vaults BANK/ETH liquidity ERC20 tokens for membership access
• Projects will have access to flexible funding
• Flexible Guild and Project budgets will be subject to increased accountability constraints
• Guild and Project budgets greater than 100,000 BANK will be requested to use KPIs, milestones, and reporting
• Projects funded through the Grants Committee will be subject to increased accountability requirements
• The Governance Solutions Engineering Team (GSET) will have the flexibility to modify the Seasonal Specification throughout the Season
• 11.5M $BANK allocated for the Grants Committee. 7M for inter-season funding and 4.5M for contributor rewards (Please note this is a correction to an error in the specification where it says the allocation for contributors rewards is 4M. However, it is 1.5M each month so the total is 4.5M)
• Grants Committee compensation: 400K BANK
• Ombuds Compensation: 222,000 BANK

SPECIFICATION

You can read the full specification here.

Title: S4 - Grants Committee Vacancy Election

Author: Icedcool🏴#4947

Quorum Requirement: Not Applicable

Voting Threshold: Not Applicable (Single Choice Voting)

Forum Post: Here

TLDR

• Grendel stepped down from the Grants Committee for Season 4
• Based on the Grants Committee Spec(link) and the Grants Committee Vacancy Forum post(link) this snapshot vote is to elect applicants into the final Grants Committee seat.

SUMMARY

Grendel recently stepped down from the grants committee and due to this the Grants Committee has a vacant seat.

This post is to take applicants to fill that position, based on the initialization spec(link).

The voting period will last one week, ending on 4/27/22.

Election:

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

In summary these are the two candidates by their Discord handle:

• 0xRene#6523
• paul🏴.eth#1559

Because there are two candidates the voting type will be Single Choice Voting.

The candidates with the most votes will be elected as Grants Committee members for the next two Seasons.

Title: Governance Solutions Engineer Re-implementation - Election Authors: Icedcool🏴#4947 Date Posted: March 15th, 2022 12AM UTC Vote Ends: March 22nd, 2022 12AM UTC Applications: Link Voting Threshold: Not Applicable (Weighted Voting)

⚠️The results of this election are conditional on passing the Governance Solutions Engineer Program which is concurrently being voted on Snapshot. If you have not voted for the program, please navigate to the previous page and vote there as well.

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SUMMARY

As proposed by the REVISED Governance Solutions Engineer (GSE) Program, the DAO is to elect 5 GSEs. The submission period was held between February 25th and March 11th.

Please read each applicant's response thoroughly and elect the 5 GSEs based on their qualifications and ideas. The decisions made here will have long-term implications for the DAO.

After this election, the applicants will have 2 weeks to organize and prepare, and the GSE will officially kick off at the start of Season 4 - April 8th.

APPLICATIONS

Please review applications here. Snapshot has a character limit that prohibits copying and pasting each applicant's submission here. The voting mechanic here is weighted choice voting.

Each voter may spread voting power across any number of choices Select and allocate your tokens to as many applicants as you would like.

The top 5 applicants will be elected as GSEs.

APPLICANTS:

• mgoesdistance.eth
• René
• Saulthorin
• 0xJustice.eth
• ManuelMaccou 🏴
• rotorless | Amicus.eth
• Above Average Joe

Title: Governance Solution Engineer Program - Re-Implementation Author(s): Icedcool🏴#4947 Date Forum Posted: February 25th, 2022 Date Snapshot Posted: March 14th, 2022

Reference documents:

Quorum Removal Snapshot: Link Invalid GSE Spec Snapshot: Link Invalid GSE Election Snapshot: Link GSE Specifications: Link GSE Submissions: Link

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Governance Solutions Engineer TLDR:

GSE Definitions:

Governance-minded DAO members elected to spec out a comprehensive solution to mission-critical DAO infrastructure challenges.

Specification:

• 5 GSE Electees
  • 75K per electee
  • Additional 750K bank for potential bonus to be paid at the end of the season.
  • Potential Total per GSE: 225K BANK
  • Potential Total for GSEs Overall: 1.125M BANK
• Two Operational pools of 500k BANK for additional contributors in each problem space to be involved, and distributed per the groups decision (potentially coordinape).
  • 1M Bank in total.
• TOTAL BANK OVERALL: 2,125,000 BANK

Focus:

• Contributor Alignment
  • Refine membership (Guest pass, L1, and L2)
    • Including potential ways to offboard contributors that no longer meet activity thresholds)
  • Create compensation frameworks that can be updated
    • Define global compensation standards that support contributors for the entire DAO.
    • Provide guidance on guild/project local compensation.
  • Refine and develop new incentive models that reward long-term contributors that stick with the DAO for long periods of time.
  • Work with guilds to standardize guild roles and Coordinape rounds
  • Work with guild Talent Scouts and First Quest to identify challenges and better retain talent entering the DAO.
• Strategic Prioritization
  • Model and present various strategic directions for the DAO.
  • Develop a potential business plan based on identified strategic model
  • Create an evaluation framework based on identified strategy to help the DAO make strategic decisions with treasury and grant funding.
  • Create evaluation PROCESS that optimizes community consensus and responsible decision making to act on above framework.
  • Design a system that actually measures the output of funding projects and incorporates those findings into the eval process.
  • Balance funding cost centers with projects that generate revenue or token value appreciation.

Requirements:

• GSEs need to make this their #1 Priority.
  • May have other positions but must disclose them.
  • Lower order activities and involvement are fine (newsletter work, etc).

Process:

• The 5 electees can organize any way they see fit, as long as it is transparent, open and public.
  • GSEs are to work with the DAO to find the optimal solution by progressively designing solutions, presenting them to the DAO, capturing feedback, and iterating.

Deliverables:

• Detailed specification to implement mid season 4 or at the start of season 5
  • Ex Season 1 spec
  • Community consent and feedback must already be included.

Financial Process:

• Each Gov SE is guaranteed a 75,000 BANK salary.
• At the end of the Season, the DAO will vote on two deliverables produced by the GSEs via forum vote. One for strategic prioritization and one for contributor Alignment. Each deliverable will be rated on a scale of 1 to 5, which will unlock additional compensation.
  • Each deliverable will unlock a maximum of 375K BANK, for a total of 750K.
  • Each rating will unlock 75K in funding. 1 = 75K, 2 = 150K, 3 = 225K, 4 = 300K, 5 = 375K
  • Additional compensation is only for GSEs. Distribution will be up to the 5 GSEs. They can choose to use Team Set Salaries or Coordinape.
• The two working groups (Contributor alignment and Strategic Prioritization) will have an allocated budget of 500,000 BANK EACH to collectively decide how to allocate and compensate members of the working group. Gov SEs may not draw from this allocation.
• Funds will be held in a multi-sig held by the 5 GSEs
  • Once all compensation has been distributed, GSEs must produce a financial report outlining how funds were distributed.
  • Any funds not distributed will be returned to the treasury

Title: Grants Committe Election for S4 and S5 Author: Kouros#2107 Quorum Requirement: Not Applicable Voting Threshold: Not Applicable (Weighted Voting) Forum Post: Here

SUMMARY

According to the specifications for Season 1, there are three seats open for the Grants Committee for the next term (that is for Season 4 and Season 5).

Members stepping down

• 0xLucas - Term limit
• AAJ (Joe) - Term Limit
• Eagle

Election:

Due to the limitation of characters that Snapshot imposes, it is not possible to have the full applications in this page. You can get more information about this election and see all applications in this forum post.

In summary these are the six candidates by their Discord handle:

• paul🏴.eth#1559
• montgomery#8177
• FreedomFighter🏴#6267
• lion917#3637
• jengajojo.ethᵍᵐ🏴#5896
• links#7868

The voting system is weighted voting. You can distribute your vote to as many candidates as you wish and also choose the weight on it.

The 3 candidates with the most tokens will be elected as Grants Committee members for the next two Seasons.

Title: BalancerDAO’s collaboration with BanklessDAO (Newsletter Sponsorship, Polygon Liquidity Pool, Written content and Podcast) Forum Post: Link Authors: @eagle, @grendel, @siddhearta, @Andrea BalancerDAO, @Icedcool Original submission Date: 1/13/22 Resubmission Date: 3/6/22 (post Quorum)

SUMMARY

BalancerDAO offers to sponsor one BanklessDAO newsletter for the entire 2022 in exchange for a strong economic incentive in BAL for the BANK/WETH pool on Polygon.

Moreover, Balancer is interested in awarding a grant to BanklessDAO for obtaining media coverage concerning its DAO and the aforementioned BANK/WETH liquidity pool on Polygon.

DIFFERENCE FROM PREVIOUS SNAPSHOT VOTE: We will be migrating BanklessDAO owned Balancer liquidity from L1 to L2 to provide the liquidity needs for this Balancer pool. To do this, we will unpair the DAO owned balancer liquidity, migrating it up to L2, then submitting for L2 incentive distribution.

BACKGROUND

Balancer is a well-known DeFi platform, which recently decided to launch its DAO.

Balancer and BanklessDAO collaborated together in the last season. Balancer has awarded to BanklessDAO an educational grant and has launched a liquidity BANK/WETH pool 1 on Ethereum. Recently, Balancer has launched a BANK/WETH pool 3 on Polygon.

MISSION & VALUES ALIGNMENT

The mission of BanklessDAO is to help the world go Bankless by creating user-friendly onramps for people to discover decentralized financial technologies. Due to its characteristics, Balancer is the perfect example of a DeFi project which could help the world go Bankless, in allowing to create liquidity and to earn from assets which are deposited in the Balancer’s pool. Moreover, in launching its DAO, Balancer - in line with the more advanced web 3.0 culture - demonstrates the willingness of decentralizing its operations.

Moreover, this type of collaboration demonstrates that BanklessDAO has reached a mature status, where projects show up and demand for client services. In the future, sponsorships and paid services will make our DAO financially sustainable.

SPECIFICATION / BUDGET

1. Polygon BANK/WETH liquidity pool incentives and BanklessDAO Newsletter sponsorship

BanklessDAO is requested to deposit in the BANK/WETH 80/20 Polygon liquidity pool:

• 4M BANK
• 14 WETH

Balancer will grant for the entire 2022 a weekly reward of 300 BAL (apx. 5k USD) for depositors. It means that if, for instance, BanklessDAO holds 50% of the liquidity in the pool, a revenue of 10k USD in BAL will be granted to the DAO treasury on a monthly basis (as 1200 BAL per month have a value of apx. 20k USD).

As consideration of the pool incentives, BanklessDAO will host BalancerDAO as the main sponsor on the “Weekly Roll-up” newsletter or the “State of the DAOs” newsletter for the entire 2022. The precise collocation of Balancer’s sponsorship will be determined on a seasonal basis.

2. BalancerDAO’s grant for media coverage

BalancerDAO would like to award to BanklessDAO a grant of 7k USD in BAL for:

A medium post where the collaboration between Market and BanklessDAO will be announced (500 USD)

2 medium articles, which will be tweeted 2 times by the BanklessDAO account and that will be mentioned in the weekly roll-up. (2,500 USD)

Article 1: The Multi-chain Strategy of Balancer

Article 2: The Creation of the Balancer DAO (with a short version in the State of the DAOs DAO Spotlight section)

A Crypto-Sapiens Podcast where the founders will present the Balancer DAO (2,000 USDC)

A strong marketing campaign concerning the liquidity pools (4 tweets with graphics prepared by designers) (1,000 USD)

1,000 USD for the project champions

FINANCIAL IMPLICATIONS

In order to get the pool incentives on a yearly basis, BanklessDAO is requested to deposit in the BANK/WETH 80/20 Polygon liquidity pool:

• 4M BANK
• 14 WETH

IMPORTANT: Funding will be provided by the BanklessDAO treasury. We will use the BPT tokens that are DAO own, unpair them on L1, migrate them to Polygon, then submit to the polygon liquidity pool.

As to the media coverage, Balancer will cover the entire costs.

BRAND USAGE

Every published item will present BalancerDAO and BanklessDAO logos together.

SUCCESS METRICS OR KPIS

Success will be evaluated from the number of views of the articles, the likes of the tweets and from the number of the participants at the podcast and at the workshop.

Moreover, Balancer will also evaluate whether the media coverage has brought an increment in the usage of the BANK/WETH liquidity pools.

NEXT STEPS

The proposal requires a snapshot vote.

In case of approval, the champion of the proposal will organize the teams to cover the planned work.

Writers’ Guild Client Services will organize the written content and the publication on Medium. BalancerDAO’s founders will be put in contact with representatives of Crypto-Sapiens in order to organize the podcast.

SQUAD BACKGROUND

@Eagle is the Legal Guild Coordinator and member of the Grants Committee. He is a Law Professor and Lawyer interested in blockchain technology, DAO governance and DeFi

@Grendel is the Translator Guild Coordinator and member of the Grants Committee. He is a IT entrepreneur who designs and implements fungible and non-fungible tokenization blockchain projects.

@andrea Balancer is a Balancer core contributor and marketing strategist

@siddhearta is the Bankless DAO Newsletter Coordinator.

Proposal Name: Tokenomics - Migrate DAO-Owned Liquidity to Uniswap V3 Program Champion(s): 0xLucas, Icedcool, HashedMae, tokenomics crew OP Date: March 4, 2022 Status: Snapshot Vote Discord Voting Link: Discord Vote Forum Voting Link: Forum Vote

TL;DR

• Migrate Sushiswap protocol owned liquidity to Uniswap V3 full range position.
• This move will create a price oracle, allowing us to launch a Rari lending market and generate more revenue as the Uniswap position has fees defined at 1% (Sushiswap is 0.25%).

Background

The Tokenomics Department is working on creating lending markets for $BANK. This will initially begin with deploying a Rari Capital Fuse Pool on Ethereum mainnet while opening up the ability to also launch on a Layer 2 lending protocol (Market.xyz on Polygon or Rari on Arbitrum) in the future.

Adding a lending market has multiple benefits. For one, it allows BANK holders to deposit and borrow against their holdings rather than having to sell. More importantly, this allows the treasury to open up its own lending market.

In order to kick this off, we need strong price oracles for $BANK that’s supported by lending markets. Rari Capital leverages Uniswap V3 oracles; however, all of the DAO owned liquidity is on Sushi. As such, we can easily bootstrap a lending market by migrating our liquidity to Uniswap v3 as a full range position (the position providing the strongest oracle).

Implementation

This proposal looks to pull the liquidity that we have acquired from OlympusPro Bonding, owned by the treasury, and migrate that over to Uniswap v3 as a full range position. As of writing, this amounts to $500,000 in liquidity. As a result, this will allow us to have a price oracle that is integrated with Rari, and any future integrations with other defi platforms.

Additionally, Uniswap offers a 1% fee pool. This fee tier is for smaller cap, exotic tokens with more volatility (perfect for BANK) and is where the majority of the existing liquidity lives. The benefit here is that this will make Uniswap the primary source of liquidity for BANK, driving the majority of the volume Uniswap and the fee revenue to the DAO treasury.

For reference, Sushiswap fees are 0.25%, meaning the treasury can generate 3x the revenue by migrating.

More info on uniswap oracles: Uniswap oracles

Title: Quorum Removal Vote Authors: samanthaj Forum proposals: [Proposal] Quorum Requirement: 36.84M BANK Voting Threshold: 77.64%

Summary

Background on the quorum requirement issue: Here.

For additional context, the quorum was set based on extremely high estimations of involvement, and despite having high involvement, we haven’t met them since for any vote.

This has left us unable to implement snapshot votes despite approval of the vote. Ex, got approval on the GSE vote(23M votes), but didn’t reach 36.84M BANK vote, so it didn’t pass.

Our plan is to abolish the quorum requirement with this vote, then re-propose the votes so that we can implement the GSE, then the GSE will re-propose a more researched quorum requirement.

The snapshot vote of this must reach the 36.8M BANK Quorum in order to be enacted.

Title: BalancerDAO’s collaboration with BanklessDAO (Newsletter Sponsorship, Polygon Liquidity Pool, Written content and Podcast) Link to forum post

Authors: @eagle, @grendel, @siddhearta, @Andrea BalancerDAO

Date: 13 January 2022

SUMMARY

BalancerDAO offers to sponsor one BanklessDAO newsletter for the entire 2022 in exchange for a strong economic incentive in BAL for the BANK/WETH pool on Polygon.

Moreover, Balancer is interested in awarding a grant to BanklessDAO for obtaining media coverage concerning its DAO and the aforementioned BANK/WETH liquidity pool on Polygon.

BACKGROUND

Balancer is a well-known DeFi platform, which recently decided to launch its DAO.

Balancer and BanklessDAO collaborated together in the last season. Balancer has awarded to BanklessDAO an educational grant and has launched a liquidity BANK/WETH pool 1 on Ethereum. Recently, Balancer has launched a BANK/WETH pool 3 on Polygon.

MISSION & VALUES ALIGNMENT

The mission of BanklessDAO is to help the world go Bankless by creating user-friendly onramps for people to discover decentralized financial technologies. Due to its characteristics, Balancer is the perfect example of a DeFi project which could help the world go Bankless, in allowing to create liquidity and to earn from assets which are deposited in the Balancer’s pool. Moreover, in launching its DAO, Balancer - in line with the more advanced web 3.0 culture - demonstrates the willingness of decentralizing its operations.

Moreover, this type of collaboration demonstrates that BanklessDAO has reached a mature status, where projects show up and demand for client services. In the future, sponsorships and paid services will make our DAO financially sustainable.

SPECIFICATION / BUDGET

1. Polygon BANK/WETH liquidity pool incentives and BanklessDAO Newsletter sponsorship

BanklessDAO is requested to deposit in the BANK/WETH 80/20 Polygon liquidity pool:

4M BANK

14 WETH

Balancer will grant for the entire 2022 a weekly reward of 300 BAL (apx. 5k USD) for depositors. It means that if, for instance, BanklessDAO holds 50% of the liquidity in the pool, a revenue of 10k USD in BAL will be granted to the DAO treasury on a monthly basis (as 1200 BAL per month have a value of apx. 20k USD).

As consideration of the pool incentives, BanklessDAO will host BalancerDAO as the main sponsor on the “Weekly Roll-up” newsletter or the “State of the DAOs” newsletter for the entire 2022. The precise collocation of Balancer’s sponsorship will be determined on a seasonal basis.

2. BalancerDAO’s grant for media coverage

BalancerDAO would like to award to BanklessDAO a grant of 7k USD in BAL for:

A medium post where the collaboration between Market and BanklessDAO will be announced (500 USD)

2 medium articles, which will be tweeted 2 times by the BanklessDAO account and that will be mentioned in the weekly roll-up. (2,500 USD)

Article 1: The Multi-chain Strategy of Balancer

Article 2: The Creation of the Balancer DAO (with a short version in the State of the DAOs DAO Spotlight section)

A Crypto-Sapiens Podcast where the founders will present the Balancer DAO (2,000 USDC)

A strong marketing campaign concerning the liquidity pools (4 tweets with graphics prepared by designers) (1,000 USD)

1,000 USD for the project champions

FINANCIAL IMPLICATIONS

In order to get the pool incentives on a yearly basis, BanklessDAO is requested to deposit in the BANK/WETH 80/20 Polygon liquidity pool:

4M BANK

14 WETH

:warning: Funding should be provided by the BanklessDAO treasury

As to the media coverage, Balancer will cover the entire costs.

BRAND USAGE

Every published item will present BalancerDAO and BanklessDAO logos together.

SUCCESS METRICS OR KPIS

Success will be evaluated from the number of views of the articles, the likes of the tweets and from the number of the participants at the podcast and at the workshop.

Moreover, Balancer will also evaluate whether the media coverage has brought an increment in the usage of the BANK/WETH liquidity pools.

NEXT STEPS

The proposal requires a snapshot vote.

In case of approval, the champion of the proposal will organize the teams to cover the planned work.

Writers’ Guild Client Services will organize the written content and the publication on Medium. BalancerDAO’s founders will be put in contact with representatives of Crypto-Sapiens in order to organize the podcast.

SQUAD BACKGROUND

@Eagle is the Legal Guild Coordinator and member of the Grants Committee. He is a Law Professor and Lawyer interested in blockchain technology, DAO governance and DeFi

@Grendel is the Translator Guild Coordinator and member of the Grants Committee. He is a IT entrepreneur who designs and implements fungible and non-fungible tokenization blockchain projects.

@andrea Balancer is a Balancer core contributor and marketing strategist

@siddhearta is the Bankless DAO Newsletter Coordinator.

Title: Governance Solutions Engineer Elections Authors: frogmonkee#6855 Date Created: December 16th, 2021 Date Posted: January 20th, 2022 Applications Quorum Requirement: Not Applicable Voting Threshold: Not Applicable (Weighted Voting)

⚠️The results of this election are conditional on passing the Governance Solutions Engineer Program which is concurrently being voted on Snapshot. If you have not voted for the program, please navigate to the previous page and vote there as well.

SUMMARY As proposed by the Governance Solutions Engineer (GSE) Program, the DAO is to elect 5 GSEs.

The submission period was held between January 5th and 19th.

Please read each applicant's response thoroughly and elect the 5 GSEs based on their qualifications and ideas. This is not a popularity contest. The decisions made here will have long-term implications for the DAO.

APPLICATIONS Please review applications here. Snapshot has a character limit that prohibits copying and pasting each applicant's submission here.

The voting mechanic here is weighted choice voting.

Each voter may spread voting power across any number of choices

Select and allocate your tokens to as many applicants as you would like. The top 5 applicants will be elected as GSEs.

Title: Governance Solutions Engineer Program Authors: frogmonkee#6855 Date Created: December 16th, 2021 Date Posted: January 20th, 2022 Forum proposals: [Draft 1] [Draft 2] Quorum Requirement: 36.84M BANK Voting Threshold: 77.64%

⚠️Once you have voted on this proposal, please click this link and elect the 5 GSEs for this program.

SUMMARY

This proposal, seeks to activate groups of people to address two important challenges for the DAO:

• Contributor Incentives
• Strategic Prioritization

It outlines the need for these two problem spaces to have a dedicated team responsible for designing scalable solutions that align with the community’s sentiment.

Deliverables are defined as a thorough and community-aligned specification in order to update our governance procedures and create room for growth. A close comparable is the original Season Specification that continues to act as an important cornerstone in our governance model.

As such, this proposal calls for:

• Five elected members of the DAO to lead these two problem spaces, known as Governance Solutions Engineers (GSEs). Each GSE will be granted 75,000 BANK as an initial allocation in Season 3 (375K total). At the end of the Season, when deliverables are presented to the DAO, the DAO will vote on whether to apply a bonus of up to 750,000 BANK.
• 500,000 BANK set aside for each problem space to incentivize participation in working groups, led by the five elected members (1M total). This would be allocated to the working group and distributed as per the group’s decision, not at the GSE’s discretion.

BACKGROUND

When building an organization, there’s this mental model of working in the organization vs working on the organization. I highlighted this distinction in Onwards to Season 3! under the Season 3: Revenge of Moloch heading, so I’ll just quickly summarize here:

As organizations grow and scale, their underlying operational model must change too. As new organizational behavior and information arise, systems must adapt and modify. Our current operational model - grants, guilds, projects, proposals, compensation - was largely ideated between May 4th and June 8th.

Six months in, we’re seeing where the existing operational model is insufficient:

• In Season 2, the Grants Committee ran out of funding with a month left in the Season, despite increasing the budget by an additional 40% from Season 1
• Projects have come back for funding without a clear way to evaluate whether these projects should be funded a second or third time.
• Community voting does not reflect critical evaluation. We largely vote yes without taking the time to evaluate the full scope of a proposal.
• (Related to above) People do not have the bandwidth to participate in proposal discussion
• Grants Committee sometimes does not have sufficient subject matter expertise to evaluate project scope (namely developer projects)
• We have no way to evaluate the value that a project brings do the DAO when coming back for funding
• Compensation was set at 1000 BANK/hr, back when BANK average 5 cents per token. Today, we sit at 15.
• Compensation varies heavily in the DAO between standard roles like Talent Scout, Guild Coordinator, Secretary, etc.
• L2 contributor status doesn’t accommodate for Guest Pass members that have shown themselves worthy of L2 status.

The points above reflect challenges that come from outgrowing our current framework.

I see the problems broken down into two main categories:

• Contributor Alignment - How do we properly reward active DAO contributors, accounting for the varying skillsets and time commitment people are making?
• Strategic Prioritization - What should we say no to? How do we, as a DAO, learn how to say no? How do we do this in a way that empowers the community to make decisions while also letting high-context individuals influence outcomes?

My point here is that, in Season 0, we directed our attention in working on the organization and building systems/processes. In Season 1 and Season 2, all those same people worked in the organization. Now, we have new information and behavior that are forcing us to re-evaluate those systems/processes that we built.

Now you may stop and say, “Well okay, why don’t we just spin up a working group in this…? Let’s just find a bunch of people interested in solving these problems and let’s get on with it!” Good question! I tried. Nearly 3 months ago, I created this forum post: ALL HANDS ON DECK: Compensation and PLM Working Groups . In it, I called for a group of interested parties to help scope out our inadequate compensation guidance. The result? Despite having 15 people signal their interest , we only met three times and we delivered on this flimsy forum post .

I see this failure resulting from two factors:

1. Our working group did not have explicit signaling from the DAO that this was a major priority. We’re all fucking busy in our respective niches. Without an explicit mandate from the DAO saying “This is important, we need people on this project,” it’s really difficult to activate people to redirect their resources and attention on this matter.
2. I did not have the time and bandwidth to lead this working group. I was active in a number of different places in the DAO, and without some social signal and explicitly incentivization, it eventually fell down my priority list.

Given my experience here, I want to propose a new model - One that creates an explicit mandate from the DAO to focus on these two problem areas and properly incentivizes participation.

Ladies, Gentlemen, and non-binaries, I’d like to introduce the Governance Solutions Engineer Program

MISSION & VALUES ALIGNMENT

I’m going to be lazy here, but in the Onwards to Season 3! forum post, I did a quick temp check on this topic with overwhelming support of a focus on Governance and Coordination.

SPECIFICATION

What are GSEs?

In the failures section just above, I pointed out how I did not have the bandwidth to coordinate/lead the Compensation working group. As such, the working group ended up falling to the wayside on my list of priorities.

Given this outcome, I think it’s important to explicitly assign coordinator responsibility. We need people who view it as their #1 priority to lead these working groups. As such, I define GSEs as:

• Governance-minded DAO members elected to spec out a comprehensive solution to mission-critical DAO infrastructure challenges.
• These members are not to operate in silos and make decisions on behalf of the DAO. They are to work with the DAO to find the optimal solution by progressively designing solutions, presenting them to the DAO, capturing feedback, and iterating.
• GSEs have appropriate context for the problems they are working on and properly embody the values of the DAO. They are trusted by their social reputation for acting in the best interest in the DAO.
• GSEs must make this their #1 priority. Given the scope of activity in the DAO, many qualified members hold multiple other positions. Instead of requiring that GSE only hold one other role, max, any member can apply but must disclose their other responsibilities, both in the DAO and IRL (ie if they have a job). In this way, the DAO can decide if they feel people have the appropriate bandwidth. (The change from 3 to 5 GSEs from Draft1 and the modified comp model allow for some flexibility for GSEs that have additional responsibilities.) Additionally, once elected, members may not accept any additional roles.
  • For example, if I applied, I would disclose my role as Ops Guild coordinator and part time editor for BanklessHQ.
  • They may participate in lower order activities. Eg, if I wanted to write a piece of the Newsletter, I can do that. But I cannot accept a role on the newsletter team.
  • Gov SEs can be on the Grants Committee, but must disclose

A successful Gov SE program should result in major clout for Gov SEs in the DAO. At the risk of sounding vain… what if there were more frogmonkees? Ooh ooh aah aah motherfucker.

What is the Scope of Work?

Expected 25-30 hours per week for each GSE. Plan accordingly.

Right now, I think the scope of work should be limited to our most existential threats: (1) Contributor Alignment and (2) Strategic Prioritization. We do have other important challenges that we can expect down the pipeline, but given this is the first time testing a program like this, I would caution against taking on more we can chew without testing this first.

Deliverables Deliverables would include a detailed specification that we can begin to implement in Season 4. The closest comparable is the original Season Specification that still serves as an important guiding document for the DAO to this day.

This deliverable would have to be in its final form, if not extremely close. The idea is to have something we can implement by the end of Season 3 going into Season 4. As such, community feedback must already be included. I want to acknowledge that this community feedback can take time but if Draft 1 is done properly, much of the community consensus will already be aligned.

Contributor Alignment

• Refining the Guest Pass, L1, and L2 system to be more inclusive
  • Includes ways to offboard contributors that no longer meet the activity/recognition threshold
• Create a compensation framework that can be updated and:
  • Define global compensation that standardizes compensation rules for the entire DAO
  • Provides guidance on letting projects/guild define local compensation.
• Envisions a new incentive model that rewards long-term contributors that stick with the DAO for longer periods of time.
• Work with guilds to standardize guild roles and Coordinape rounds
• Work with guild Talent Scouts and First Quest to identify challenges and better retain talent entering DAO

Strategic Prioritization

• Model and present various strategic directions the DAO can take (present to DAO for feedback)
  • Eg. DAO incubator model vs. software profit model vs Emergent Strategy
• Outline a business plan based on an identified strategic model
• Create an evaluation framework based on the identified strategy to help the DAO make strategic decisions with treasury and grant funding
• Create a new evaluation process that optimizes for both community consensus and responsible decision making (will likely deprecate the Grants Committee as it stands)
• Design a system that actually measures the output of funded projects and incorporates those findings into the evaluation process
• Balancing funding cost centers with things that generate revenue or token appreciation

Gov SEs and Working Groups

Earlier, I said about Gov SEs:

These members are not to operate in silos and make decisions on behalf of the DAO. They are to work with the DAO to find the optimal solution by progressively designing solutions, presenting them to the DAO, capturing feedback, and iterating.

One method of working with the DAO is to create a working group around these two problem spaces. As such, Gov SEs will have to work publicly in these working group. Part of their responsibility will be coordinating these working groups, somewhere between a Guild Coordinator and Project Manager.

Elections

Elections are live.

FINANCIAL IMPLICATIONS

Maximum funding for this initiative would be: 2,125,000 BANK and come from the main treasury. Any BANK unallocated will go back to the treasury at the end of this program. Funding will come from the BanklessDAO treasury and must follow the framework presented in this snapshot.

2,125,000 BANK is broken down as:

• Each Gov SE would be guaranteed 75,000 BANK salary
• At the end Season 3, the DAO will vote on two deliverables produced by the GSEs via forum vote. One for strategic prioritization and one for contributor Alignment. Each deliverable will be rated on a scale of 1 to 5, which will unlock additional compensation.
  • Each deliverable will unlock a maximum of 375K BANK, for a total of 750K.
  • Each rating will unlock 75K in funding. 1 = 75K, 2 = 150K, 3 = 225K, 4 = 300K, 5 = 375K
  • Additional compensation is only for GSEs. Distribution will be up to the 5 GSEs. They can choose to use Team Set Salaries or Coordinape.
• The two working groups (for each problem space) will have an allocated budget of 500,000 BANK to collectively decide how to allocate and compensate members of the working group. Gov SEs may not draw from this allocation.
• Funds will be held in a multi-sig held by the 5 GSEs
  • Once all compensation has been distributed, GSEs must produce a financial report outlining how funds were distributed.
  • Any funds not distributed will be returned to the treasury

SUCCESS METRICS OR KPIS

Delivery of two detailed specifications by the end of Season 3 that already has community feedback folded into in order to execute and implement during Season 4.

Title: Season 3 Grants Committee Elections Proposal Champion: Icedcool#4947 Date: January 4th, 2021 Forum proposal

This snapshot was re-uploaded with the BPT token strategy, allowing for BANK holders to vote with tokens held in Balancer's liquidity pools.

SUMMARY

According to the Season 3 specification, there will be 4 seats up for election for Season 3 Grants Committee.

The Grants Committee consists of 5-7 members along with a multisig with all committee members as signers.

• The Committee is responsible and accountable for managing the grants system, reviewing grant applications, and managing the grants treasury, with the help of other guilds as needed (e.g., treasury).
• The Committee has a quorum with four members over seven OR three members over five, but is otherwise responsible for their own operations.
• The Committee cannot change the application process to be a Committee member without a snapshot vote and is encouraged to accept the DAO’s proposal template.
• The Grants Committee is required to be transparent and communicative with the DAO, such as access to Committee meetings and an opportunity to voice opinions and feedback.

The voting period will last one week and will take place on Snapshot:

• Grants Committee Applications will be submitted and decided on by a weighted snapshot vote, and the highest 4 voted applications will be elected into the Grants Committee.
• Any unapproved candidate can gather feedback, improve their resume, and resubmit for future vacancies.
• Committee members can be recalled with an instant vote of 51% or more. Committee members may leave the Committee at any time by submitting a written resignation note to the Committee.

APPLICANTS

Icedcool#4947

Reason for (re)applying My aim continues to be to support the DAO’s operations, and as a representative of the #dev-guild. I plan to continue to develop the strategies around how the DAO and Grants Committee can distribute funding that supports the DAO, projects and contributors in an equitable manner that supports the long term viability of all three.

Describe your involvement thus far at BanklessDAO I am heavily involved in the #dev-guild and a huge cheerleader of the #analytics-guild. I am also the PM on the Bounty Board project, and am working to support it as it as it grows and develops to be a major DAO tooling component. Lastly, I am working in tokenomics to increase the utility and opportunities around the $BANK.

My overall aims are to support DAO operations, drive opportunities and $BANK valuation that allow members to work for the DAO.

Qualifications - What will you bring to the committee? I aim to bring a balanced, principled and as unbiased an opinion as possible, with an intent to support the DAO’s success in all endeavors, focused on tech, economics, and equity.

I have been part of the Grants Committee since genesis, and aim to bring my learnings to continue to iterate and improve on the service and quality of the Grants Committee.

Sponsor(s) @jameswmontgomery.eth, @frogmonkee, @Eagle, @nonsensetwice, @Grendel

Kouros#2107

Reason for applying The projects in Bankless DAO make the organisation thrive and move forward. It is important that we distribute the funds across the DAO and keep the machine working at a good speed. It is for this reason that I would like to keep assessing and advising projects for the benefit of all of us.

Describe your involvement thus far at BanklessDAO My involvement with Bankless DAO started in the very first days when the DAO was created, and I have seen the DAO and myself progressing in this space to a great degree and I would like to continue growing together.

In addition to this, I have been overseeing the Treasury Guild since Season 0 and organising and actioning NFT sales successfully on behalf of the DAO as well as being part of the Grants Committee since its origins so I believe all this experience and knowledge about the DAO will make me an excellent candidate to continue as member of the Grants Committee.

Qualifications - What will you bring to the committee? Having studied maths has giving me an analytical mind that likes solving problems and always eager to learn new things. I believe this is important when reviewing projects.

Sponsors @Icedcool @Eagle @nonsensetwice @Grendel @AboveAverageJoe

Grendel#3875

Reason for applying I am and I feel very involved in BanklessDAO, I strongly believe in its educational, informative and support mission to all those who want to build something in the crypto ecosystem, defi, dao, nft.

The development and implementation of individual or team projects supported emotionally and financially by the DAO is one of the end points of this process of empowering community members.

I wish I could continue my work on the grants committee to be able to support this process which is made up of both support and constructive criticism. Constructive criticism serves to ensure that BanklessDAO is not a sandbox for community projects but a place to learn and fulfill oneself.

Qualifications - What will you bring to the committee? I am involved in project management tasks and have been actively involved in many crypto projects for several years. I think I can put my experience to good use by putting it at the service of BanklessDAO and the grants committee.

Sponsors @Eagle, @Kouros, @Icedcool, @AboveAverageJoe, @siddhearta, @sovereignhealth, @AyrtonB26

LiveTheLifeTV (⚓, ⚓)#5415

Reason for applying I would love to keep supporting new initiatives at Bankless DAO. I plan to step down from the bankless dao website and bankless loans to focus on a potential new role at the Grants Committee.

Describe your involvement thus far at BanklessDAO I have been around since day one and enjoyed kickstarting many initiatives, including being the project champion for the bDAO website and the Bankless Loans project, both projects now have new people stepping up and I feel confident that it’s time to explore this role at the GC to review new projects and stay involved at the DAO. Helping to fix the issue of the token liquidity by onboarding bDAO on the Olympus Pro feels like my most impactful contribution so far.

Qualifications - What will you bring to the committee? My deep interest in Defi, DAO’s, and NFT’s has only increased the past few 5 years. I love supporting and reviewing new initiatives and feel like my passion to keep pushing the space will be a good fit.

Sponsor(s) @Eagle, @Kouros , @Grendel

Soundman#6783

Reason for Applying: My reason for applying to the grants commitee is that I think I can help add clarity around compensation in projects. Having been involved with the DAO from its inception I have a good perspective on where the DAO is currently, how it got here and where we are trying to go. I believe that compensation on projects needs to have some definition from inception not necessarily a detailed plan but a roadmap for how you will get to a detailed plan. Compensation in the form of roles, bounties, coordinape rounds or other means should be clear to everyone involved setting expectations is key. My primary goal if I were elected to grants commitee is making sure the people involved in a project all have an understanding of what compensation looks like at the moment of deciding to fund it as well as if there is a plan to define forms of compensation for the longterm.

My qualifications: I am aligned with the BanklessDAO mission and will use our mission statement as a guide in my decisions. I am a champion for the podcast hatchery so I know what it takes to make a project and even more importantly I know the challenges involved.

Sponsors: Eurekajohn#2094, Droste#0063, ivan7538#4763

chuck25#4313

Reason for applying I am a major proponent for BanklessDAO’s mission to onboard new people into crypto, and it would be an honor to help steer funding decisions for the DAO’s next chapter of development.

I am a living embodiment of this community’s mission to provide an on-ramp for professionals who want to leave their boring legacy world jobs behind and help build the future.

Finding BanklessDAO in early November 2021 was, I imagine, like arriving at Ellis Island in the late 1800s. BanklessDAO welcomed my tired self yearning to be free and told me to go find work! The decentralized, permissionless nature of the DAO empowered me to begin contributing almost immediately to the incubation of Bankless Consulting, which was born with an award from the Grants Committee just as I arrived. Helping to build the world’s first decentralized, web3 consultancy has been a thrill. My wife says she has never seen me this motivated to sit in front of a computer screen late into the night.

As I pivot my career into working in web3 full-time in 2022, I would like to play a bigger role in helping BanklessDAO fulfill its mission as we elevate our work and become an even more impactful community within the web3 ecosystem.

Qualifications

• IRL work | 10+ years of nonprofit management experience geared towards helping others reach their full potential. Have worked at two private foundations and one public foundation making grants for public impact. Have been a member of several boards and grants committees. Have built multiple education nonprofits that relied on grant funding and have also built a nonprofit education business fully sustained by earned revenue. Currently directing the nonprofit management graduate program at a university in the United States.
• Studies | Bachelor’s in Economics with specialization in economic policy and Master’s in Public Policy with specializations in philanthropy and nonprofit leadership. Currently devoting at least two hours a day to reading, listening to podcasts, and watching videos to learn more and more about web3.
• BanklessDAO | Joined BanklessDAO in early November 2021 and will earn my way to L1 status (35,000 BANK) before the end of Season 2. Have led the Compensation Working Group for Bankless Consulting to meet both of our key milestones for Season 2. Have also been a core member of the Governance Working Group for Bankless Consulting, helping to build the Governance Framework for the world’s first web3-native, decentralized consultancy.

Sponsor(s) @RunTheJewelz @Icedcool @omen @dside @MC10

POLL

This poll uses the "Weighted Voting" mechanic:

Each voter may spread voting power across any number of choices.

Please use your tokens to weigh which applicants you would like to see elected. Of the applications, the four with the highest weighted votes will be elected to the Grants Committee in Season 3.

Title: Season 3 Project and Guild Funding Proposal Champion: Icedcool🏴#4947 Date: January 9th, 2022

SUMMARY

Per the Season 3 specification, Guild and Project funding requests were reviewed by the GC and were approved for a total of 19,185,085 Million BANK with 6.50 ETH.

Additionally the Grants Committee was allocated 11.35M BANK, with 4M set aside for contributor rewards, 7M set aside for Project funding, and 350K set for GC Remuneration. Lastly, the Ombuds program will be remunerated for 222K BANK.

This proposal seeks to ratify the distribution of these budgeted allocations(between guilds and projects).

BACKGROUND

Guilds

Upon review of all the Guild requests, the total request was for 8,060,985.00 BANK + 6.00 ETH, itemized below.

Projects

Upon review of the Project Requests, the total request was 11,124,100 BANK + 0.50 ETH, itemized below.

SPECIFICATION

Guild Funding = 8,060,985.00 BANK + 6 ETH

• Legal Guild = 435,000.00 BANK
• Writers Guild = 592,000.00 BANK
• Marketing Guild = 846,000.00 BANK
• Operations Guild = 895,000.00 BANK
• Treasury Guild = 300,000.00 BANK + 6 ETH
• DAOlationships = 373,000.00 BANK
• Translators Guild = 698,000.00 BANK
• Education Guild = 755,000.00 BANK
• AV Guild = 740,000.00 BANK
• Analytics Guild = 735,000.00 BANK
• Design Guild = 606,000.00 BANK
• Dev Guild = 1,085,985.00 BANK

Project Funding = 11,124,100.00 BANK + 0.50 ETH

• Podcast Hatchery = 306,000.00 BANK
• Bankless Academy = 1,489,800.00 BANK
• EPA = 405,000.00 BANK
• Bankless Indices = 750,000.00 BANK
• BanklessDAO Bounty Board = 1,256,000.00 BANK
• First Quests = 242,000.00 BANK
• International Media Nodes = 1,590,000.00 BANK
• DAO Dash = 840,000.00 BANK
• Bankless Mobile App = 192,000.00 BANK
• Content Gateway = 336,000.00 BANK
• Newsletter Team = 459,300.00 BANK
• Bankless Loans = 193,000.00 BANK
• Fight Club - Season 3 = 858,000.00 BANK + 0.50 ETH
• Website Project = 230,000.00 BANK
• Legal Newsletter / Decentralized Law = 180,000.00 BANK
• Degen = 1,217,000.00 BANK
• Crypto Sapiens = 580,000.00 BANK

Guilds and Projects Funding Summary:

19,185,085 Million BANK + 6.50 ETH

POLL

Approve the Season 3 Project and Guild Funding and distribute funds as per the specifications, disapprove, or abstain.

Title: Firming Up Governance Proposal Champion: frogmonkee#6855 Date: December 31st, 2021 Forum proposals [Draft 1] [Draft 2] [Draft 3]

SUMMARY

This proposal introduces some voting parameters and guidelines in response to feedback around the recent Proposal: Olympus Pro post.

Included are:

• Specificity on what goes to snapshot and what does not
• Quorum and voting requirements
• Community education guidelines
• Proposal wording and presentation

SPECIFICATION

Read the full specification here.

POLL

Vote to abide by the quorum, voting, education, and presentation guidelines set forth within this proposal.