For the Season 9 Seasonal funding round, 2 projects and 1 guild missed the initial seasonal funding snapshot. The BanklessDAO Grants Committee requests 1,659,200 BANK to be transferred from the BanklessDAO Vault Multisig (eth:0xf26d1Bb347a59F6C283C53156519cC1B1ABacA51) to the Grants Committee Multisig (eth:0x12BD9048b419838e25046040Dcd297aB16850280) to fund these DAO units for Season 9, as per Section 7.1 of the BanklessDAO Constitution,

• Details of this amount can be viewed in the Season 9 Seasonal Grant Requests Spreadsheet under “2nd Round Requests”

Specification

Guild Funding = 459,200 BANK

• Project Management Guild = 459,200 BANK

Project Funding = 1,200,000 BANK

• Global Events = 900,000 BANK
• Making Bank = 300,000 BANK

Grand Total: 1,659,200 BANK

Title: Grants Committee Election for S9 and S10 Author: raybankless.eth Forum Post: Governance Election: Season 9 - Grants Committee Election Submission

SUMMARY

According to the BanklessDAO Constitution, there are three seats open for the Grants Committee for the next term (Season 9 and Season 10).

Members stepping down

• raybankless.eth
• daolexa
• p8ul.eth

Election:

You can get more information about this election and see all applications here: Governance Election: Season 9 - Grants Committee Election Submission

In summary these are the 2 candidates by their Discord handle:

• Paulitobankless
• Ornellaweb3

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.

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

Grand Total Seasonal Funding Request: 23,446,772 BANK + 2,000 USDC

• 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
  • Snapshot
  • The BanklessDAO Constitution has been revised to simplify the language and add clarity without making any changes to governance.
  • This bDIP replaces the entire existing Constitution with the entire revised Constitution. The revised text is available here.
• 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)

Title: BanklessDAO Multi-sig Wallet election Authors: Editors: senad.eth#8782, links#7868, Trewkat#1933, HiroKennellyᵍᵐ#0001 Forum Date: 3/22/23 Relevant Links: Forum Post, bDIP-8 Election and Selection of BanklessDAO Vault Multi-Signature Wallet Signers

BanklessDAO Vault Multi-Signature Wallet Election

The BanklessDAO Vault multi-signature wallet (vault multisig) is the holder of DAO funds, and disburses BANK to DAO Organizational Units. It is managed by a team of seven BanklessDAO members, and requires four of the seven members to sign in order for any transaction to be executed.

Multisig Wallet Election Process

This election contains the new electees from this forum post, and to ensure that the multisig always hold enough members the previous holders are available for re-election unless they step down.

The potential new electees are:

• Rowan#3669
  • Application
• senad.eth 🏴#8782
  • Application
• Mr. V | mariokondo.eth#2771
  • Application
• jengajojo🏴#5896
  • Application
• Bananachain🏴 (Nanner)#6171
  • Application
• links🏴#7868
  • Application

The potential previous holder electees are:

• 0xLucas#3124
  • Application
• Above Average Joe#5427
  • Application
• Grendel#3875
  • Application
• Icedcool🏴#4947
  • Application
• Kouros#2107
  • Application

Multisig Holders stepping down:

• frogmonkee#6855
• RedVan🏴🍌#0611

Vote:

Token weighted voting

Title: Deposit fees from the UNIv3 liquidity position to the multisig Squad: Icedcool, Tomahawk, Ernest of Gaia, Sprinklesforwinners Date Created: 1/26/23 Forum Post: Link

TLDR:

• BanklessDAO has earned on its full range Uniswap liquidity position. 2
  • ~1.1 million BANK
  • ~9.76 ETH
• This proposal is to pull these fees and deposit them into the BanklessDAO Multisig. 3

BACKGROUND

The snapshot vote Tokenomics - Migrate DAO-Owned Liquidity to Uniswap V3 1 pulled the liquidity acquired from OlympusPro Bonding, owned by the treasury, and migrated that over to Uniswap v3 as a full-range position. This was sought in order to have a price oracle that could integrate with RARI (which now no longer supports borrowing) or other DeFi platforms in the future. The UNIv3 position has additionally benefited us by consolidating the BANK-ETH liquidity, driving the majority of the volume to Uniswap and improving fee revenue to the DAO treasury.

Uniswap offers a 1% fee pool for smaller market cap tokens with higher volatility (perfect for BANK), and this pool is now where the majority of the existing liquidity lives. Making Uniswap v3 the primary source of liquidity for BANK has shown to be a clear benefit, supporting the majority of transaction volume and maximizing fee revenue to the DAO treasury.

SPECIFICATION

The steps would be as follows:

1. BDAO multisig 2 would submit a fee-collecting transaction 1 to collect accrued fees 2 from the UNIv3 liquidity position.

2. The fees that have been earned would then be deposited into the BanklessDAO multisig.

POLL

Approve Abstain Reject

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.

If anyone is seeing any strange issues or discrepancies, please share them in #governance or in the Snapshot Voting - Implement Shielded Voting thread.

THIS IS A TEST

Forum Post: Link

Summary

This snapshot is to delegate the BanklessDAO multisig safe tokens to DAOstewards.eth This is based on the forum proposal here.

BACKGROUND

DaoStewards was formed to support governance at BanklessDAO and external DAOs and to be representation of BanklessDAO at other DAOs.

DAO Stewards Vote positions: Link

DAOSteward Members: Link

The values of DAOStewards here:

Net positive engagement: We represent a community aiming to empower all parties involved and develop in a positive-sum manner.

United we stand: DAOstewards believe decentralization is paramount in governing web3. We aim to represent everyday users of web3 and have their unheard voices heard.

Bankless Lifestyle: As a group from BanklessDAO, we aim to enable more people to exit their reliance on legacy institutions and fully embrace internet-native digital organizations.

Quality participation: We believe the quality active contributors could help a DAO evolve. We aim to deliver the best quality of work with minimum bureaucracy.

NEXT STEPS

Upon approval of this snapshot, the BanklessDAO multisig will delegate the multisig SAFE tokens to DAOstewards.eth.

POLL

Approve Reject

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

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.

POLL

Approve

Deny

Title: DoinGud BanklessDAO Membership Authors: Tetranome Forum post: Link

SUMMARY

This snapshot is to approve BanklessDAO's application for Tier 3 membership @ 1.1 ETH for one year at DoinGudDAO - the Impact DAO behind ETHBarcelona and the hosts of their own social impact NFT marketplace on Polygon.

This is based on the votes from the proposal here.

Annual Community Membership Perks:

• BanklessDAO receives 5x governance seats at DoinGudDAO.

• BanklessDAO receives collaboration priority on events with DoinGud and the consortium of DAO members at discounted sponsorship rates. For example, at ETHBarcelona there were sponsorship tiers that enabled sponsors to present a talk, receive brand marketing around the event etc.

• BanklessDAO receives a communications boost across DoinGud socials.

• BanklessDAO L1+ members receive allow list access to the DoinGud Soulbound Membership NFT sale + an 11% discount.

Governance seats will be filled by a Discord poll in - #polls - running the length of this snapshot, in order to meet the DoinGudDAO application deadline.

Any L1+ member can apply.

Governance Application Poll:

Link

Vote:

Approve Deny

Discord Vote: Link

Forum Post: Link

TLDR

• In Balancer L2 we have a liquidity depth of $46,419 (2184423 BANK and 5.4556 ETH)
  • This translates into high slippage for AMM operations on Polygon.
• We need sufficient liquidity on every chain $BANK is implemented on to enable BanklessDAO operations.
• To resolve this we would like to migrate 50k of liquidity from L1 to Polygon Balancer
  • Sushiswap Liquidity (705,194.04 BANK and 7.49 ETH ≈ $24,122.29) - (50/50)
  • Balancer Liquidity (1217788 BANK and 3 ETH ≈ $25,878) - (80/20)

SUMMARY

BanklessDAO has the Balancer pool on Polygon which has a volume(usage) of around $1,000 daily. Currently we have a liquidity depth of 46k on L2, which is resulting in high slippage for people using and trading on L2. BanklessDAO needs to support the liquidity depth for operational usage on all chains, and so plans to migrate 24k of liquidity from Sushi (low usage) and 26k from the Balancer L1 pool for a total of 50K liquidity to support depth on Polygon L2.

This proposal is to gain approval from the DAO to migrate this liquidity to enable Polygon operations.

SPECIFICATIONS

• Sushiswap Liquidity (705,194.04 BANK and 7.49 ETH ≈ $24,122.29) - (50/50)
• A portion of Balancer Liquidity (1217788 BANK and 3 ETH ≈ $25,878) - (80/20)

IMPLEMENTATION

Implementation steps would be as follows:

1. BDAO multisig would unpair the Sushiswap liquidity.

2. The multisig would unpair a portion of the Balancer Liquidity (1217788 BANK and 3 ETH ≈ $25,878)

3. The multisig would then migrate the total amount of assets to Polygon via the Treasury Guild Bridging Service (TBS) to the Polygon multisig (X ADDRESS)

4. FInally the multisig would deposit the assets into Balancer pool at an 80/20% ratio.

5. The Sushi assets (50/50) would be auto balanced to the 80/20 ratio.

Post implementation the liquidity depth will be at roughly 100k worth of depth, which should enable Polygon Operations and usage.

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.

Forum Post: Here

SUMMARY

According to the specifications for Season 1, there are three seats open for the Grants Committee for the next term (Season 5 and Season 6).

Members stepping down

• Kouros (term limit)
• Chuck
• Icedcool (term limit)

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 4 candidates by their Discord handle:

• paul🏴#1559
• Ap0ll0517🏴#5781
• jengajojo.eth🏴#5896
• Bananachain#6171

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.

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.

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: 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.

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

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

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: 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.

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.

You can read the full specification here.