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Past Votes
Tokenomics - Approve DAI Capital Efficiency Strategy
Squad: Treasury Department Date Created: 12.06.2023
TLDR:
BanklessDAO treasury has 14,693.416 DAI sitting idle Deposit DAI in BanklessDAO’s Rari Fuse pool and earn 6.53% APY
BACKGROUND
After migrating DAO liquidity to Uniswap V3 in early 2022 [here 1], the DAO was able to create a Rari Fuse pool to enable BANK holders to borrow against their BANK.
What is Rari Fuse?
Winverse wrote a nice piece about it in the 4th June, 2022 issue of the Weekly Rollup(here), but in short Rari Fuse allowed the DAO to create its own money market. [link]
SPECIFICATION
If approved, the follow transaction will be initiated
BDAO multisig would submit a deposit transaction into the rari fuse contract
The treasury department will monitor this position and submit a proposal to withdraw when it is no longer feasible to earn yield from this strategy.
This proposal grants the Treasury Deptment the right to deposit the aforementioned funds into the Rari pool from, and the right to decide and execute the withdraw of such funds back into the DAO multi-sig when judged to be appropriate and necessary for economic or risk considerations.
Risks and disclosures:
- As with anything in DeFi, this strategy is vulnerable to smart contract risks
- The strategy is also vulnerable to loss of value resulting from by high slippage trades triggered by high volatility black swan events
- The rari front end may go down, although this can be mitigated by interacting with the smart contracts directly. The Treasury Department will monitor this and be prepared to exit.
Seasonal Meta-governance delegation to DAOStewards.eth
Summary:
This proposal seeks to renew DAOStewards as the official meta-governance group of BanklessDAO for Season 9, enabling the BanklessDAO Vault Multsig to delegate eligible governance tokens to DAOStewards upon request. DAOStewards will report back to the DAO at the end of each season and propose to renew the delegation.
Background:
Bankless DAOStewards is a meta-governance group formed in late 2022, with the goal of representing BanklessDAO in the governance of other DAOs. Through effective governance, the reputations of DAOstewards and BanklessDAO grows, which translates into revenue for BanklessDAO and its projects.
Since inception, we have helped BanklessDAO and its projects earn over 130,000 OP via Optimism, claim 701,275 Collab.Land tokens, and have otherwise helped steward $30,000 to DAO-related projects and affiliated contributors via public good projects such as Gitcoin, DAO Drops, and clr.fund.
We hold delegated voting power from both the Vault and the DAO’s contributors, and have actively participated in the governance of multiple DAOs, including Optimism, Arbitrum, Safe, and Uniswap. Our voting rate remains over 80% and we always communicate our voting rationale via our Notion page 1.
Mission & Values Alignment:
DAOStewards have a proven track record of helping BanklessDAO projects earn revenue, thus enabling contributors to be focused on the mission of helping the world #goBankless.
We lead with Bankless, our members are among the most value-aligned contributors in the DAO. In the coming season we will incorporate tlBANK as a requirement for our governors, thus further aligning our relationship with BanklessDAO and its values.
Scope of Work:
In practise this will have the following implications:
If ratified, DAOStewards will receive delegation of all delegatable governance tokens for Season 9.
DAOStewards will regularly report its voting activity and other wins during the weekly Community Calls.
DAOStewards will post a report of its activities at the end of each season and seek renewal of delegation from the DAO.
If the proposal gains consensus on Forum, DAOStewards will receive delegation of all possible governance tokens for S9 and the consequent implementation will be included in the seasonal spec subject to community approval each season
DAOStewards will incorporate tlBANK into its membership and compensation structure.
Financial Implications:
There are no immediate costs associated with this proposal.
Success Metrics or KPIs:
Revenue raised for BanklessDAO and its projects Voting weight
Squad Background:
Current active contributors of DAOStewards include:
Baer.eth : L2 member, Project champion: Bankless wallet, active governor at SAFE, 1inch
Links: L2 member, Project champion: Bankless Card, active governor at SAFE
HiroKennely: L2 member, Project Champion: Bankless Publishing, active governor at Optimism, A
Thinkdecade: L2 member, Project champion: Bankless Africa, Active governor at Optimism, SAF
LiviuC: L2 member, Active governor at Arbitrum
Jengajojo: L2 member, Project Champion: IMN, Global Events, DAOStewards, Governance Dept coordinator, Active governor: SAFE, Optimism, Arbitrum, Gitcoin, 1inch, AAVE, VITA
Season 9 Specification
Title: Season 9 Specification Proposal Champion: 0xZFI Date: August 21st, 2023
SUMMARY
This is the finalized BanklessDAO Season 9 Specification.
Some Quick Reminders
- Seasonal Specifications are not to handle funding requests. Any organizational unit requesting funding should go through the Seasonal Budget Request process and be reviewed by the Grants Committee.
- Any changes to governance would need to be proposed with their own individual bDIPs (bDIP Template here)
The Seasonal Specifications are simply general operational specifications that allow organizational units to plan for the following season. While the Operations Department will manage the specifications we want as much input from DAO Members as possible so as to make decisions that align with members.
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-10: Revision to BanklessDAO Constitution
- BanklessDAO Multi-sig Wallet Election
- Snapshot
- The Banklessvault.eth multi-sig was refreshed after a year, which allowed inactive members to step-down and active contributors to step-in
- bDIP-11: Dynamic Forum Quorum for bDIPs
- Snapshot
- A formula-based dynamic quorum will be adopted for bDIPs in order to better adapt to the DAO’s evolving membership and reduce the impact of voter apathy. The quorum threshold will be updated each month by the Governance Department according to the formula stated in this proposal.
- Delegate Snapshot Proposal rights to Governance Dept
- Delegate Snapshot Proposal rights to Governance Dept
- The Governance Department multi-sig has been granted Snapshot posting permissions
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.
- TEMP CHECK - Sybil Resistant Forum
- TEMP CHECK - Sybil Resistant Forum - #7 by BueMetaforo
- Discussion still open, feedback welcomed
- From the Governance Department’s S9 Funding Request:
- “Citing the recent Sybil attacks, we have kickstarted the process to integrate Gitcoin Passport on forum. We are currently waiting for the Passport team to finish the integration so we can deploy this feature in Season 9.”
- 92%/8%/0%; Yes, No, Maybe (poll still open)
- DAO Next Season Goals Survey
- DAO Next Season Goals Survey
- Survey closed; analysis in progress
- From the Governance Department’s S9 Funding Request:
- “The department collected feedback from the community on the direction we should take as a DAO via the DAO Goals survey. We will follow this up with a SWOT analysis of the DAO and create next steps towards alignment in S9.”
If this proposal passes Snapshot, the following timeline will fall into place for Season 9:
Season 9 Operations Timeline
DAO Operational Timeline [Notion link]
- September 4 : Season 9 begins
- Week 1 or 2 : The Season 9 Kick-Off Event will be held on Twitter
- November 11 : All funding requests from guilds, departments, and projects to be posted to the Forum for the Grants Committee to review
- November 12 - 25 : Grants Committee to work with groups to review funding requests
- November 19 - December 2 : Draft 1 of the Season 10 Specification to be posted to the Forums
- November 26 - December 9 : Grants Committee to work with groups to finalize funding requests
- November 26 - December 9 : Season 10 Grants Committee Election applications accepted
- December 3 - 9 : Draft 2 of the Season 10 Specification to be posted to the Forums
- December 10 : The Season 10 Grants Committee election will be posted to Snapshot
- December 10 : The Season 10 Specification will be posted to Snapshot
- December 10 : The Season 10 Budget Request will be posted to Snapshot
- December 17, 2023 : Last day of Season 9
- December 18 - January 1, 2024 : Annual Break (15-day gap)
Season 9 Seasonal Funding
Title: Season 9 Seasonal Funding
Proposal Champion(s): Links, Icedcool
Date: Aug 19th, 2023
Summary
Per Section 7.1 of the BanklessDAO Constitution, BanklessDAO Grants Committee requests 23,446,772 BANK and 2000 USDC be transferred from the BanklessDAO Vault Multisig (eth:0xf26d1Bb347a59F6C283C53156519cC1B1ABacA51) to the Grants Committee Multisig (eth:0x12BD9048b419838e25046040Dcd297aB16850280).
- Details of this amount can be viewed in the Season 9 Seasonal Grant Requests Spreadsheet.
Specification
Department Funding = 3,944,952 BANK + 2,000 USDC
- Governance Department = 577,500 BANK
- Operations Department = 1,518,337 BANK
- Education Department = 296,115 BANK
- Treasury Department = 285,000 BANK + 2,000 USDC
- Marketing Department = 1,268,000 BANK
Guild Funding = 2,947,140 BANK
- AV Guild = 86,700 BANK
- Translators Guild = 520,500 BANK
- Writers Guild = 930,000 BANK
- Developer's Guild = 220,500 BANK
- Research Guild = 533,120 BANK
- Design Guild = 656,320 BANK
Project Funding = 12,665,000 BANK
- Bankless in Spanish = 960,000 BANK
- Bankless Publishing = 4,000,000 BANK
- DAOStewards = 886,000 BANK
- Bankless Africa = 1,604,000 BANK
- Infosec Team = 628,000 BANK
- Podcast Hatchery = 263,000 BANK
- The Rug = 1,370,000 BANK
- International Media Nodes = 2,954,000 BANK
Grants Committee Funding = 3,889,680 BANK
- Contributor Compensation = 789,680 BANK
- S9 Project Fund = 3,100,000 BANK