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: 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: 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: 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 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.

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: 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: BanklessDAO Season 3 Specification Proposal Champion: frogmonkee#6855 Date: December 31st, 2021 Forum proposals [Draft 1] [Draft 2]

SUMMARY

• Season 3 will start on Monday, January 10th, 2021
• Season 3 will end on Friday, April 8th, 2021
• BanklessDAO will hold a formal gap week between April 9th and April 15th.
• Season 3 will not include a cap on Project and Guild funding, though the Grants Committee will review budgets and provide suggestions to minimize budget bloat
• 11M $BANK allocated for Grants Committee. 7M for inter-season funding and 4M for contributor rewards
• Grants Committee compensation: 350K BANK
• Ombuds Compensation: 222,000 BANK

SPECIFICATION

You can read the full specification here.

POLL

Approve the Season 3 specification, distribute funds as per the terms, and abide by the dates set forth.

We have had a forum post to ask Bankless DAO what option is preferred by the community but there hasn’t been a clear winner and since one of the options in this proposal asks about the use of funds from the main Treasury we need hard consensus.

We have simplified the options to:

1. Get extra funding from the Main treasury to fund these projects.
2. Fund these projects from the allocated budget of the Grants Committee for projects in Season 3

Title: BanklessDAO <> Tokemak Proposal Champion: Icedcool#4947 Date: October 21st, 2021 Forum proposal

Summary

BanklessDAO has challenges with the $BANK token of liquidity depth and deployment. Right now we have fractionalized liquidity across Uniswap, Sushiswap, and Balancer.

Insufficient liquidity results in poor pricing and volatility. This negatively impacts exchanges looking to offer the best possible pricing for the token, and the individual, hoping to avoid slippage due to the price impact of their trade. Additionally, in the future BanklessDAO interacting with other projects’ tokens require reliable liquidity.

As BanklessDAO grows we need to continue to address the issue of liquidity.

Through Tokemak we can solve that problem and deploy liquidity quickly and effectively using the platform.

The integration of BanklessDAO and Tokemak, would enable the quick and efficient deployment of liquidity, create a token swap opportunity for the DAO to be exposed to the valuation of TOKE, as well as give BANK holders a novel opportunity to single sided stake their bank on the TOKEMAK platform, enabling further liquidity for the BANK token.

BACKGROUND

The current state of DeFi is comprised of fragmented, unpredictable, and expensively sourced liquidity. Providing 50/50 paired liquidity is expensive for an individual, and has the looming risk of impermanent loss. Traditional market making solutions are opaque for native DeFi builders, highly centralized, and expensive. Finally, reliance upon whales to provide liquidity results in a perpetual state of uncertainty.

Tokemak enables users to both provide liquidity and control where that liquidity goes.

Liquidity Providers deposit single-sided assets into individual Token Reactors and/or Genesis Pools (ETH, USDC), and earn yield in the form of TOKE, Tokemak’s native protocol token.

Liquidity Directors stake TOKE into individual Token Reactors and vote how that liquidity gets paired from the Genesis Pools and to what exchange venue it gets directed. They too earn yield in the form of TOKE.

TOKE can be thought of as generalized or tokenized liquidity. TOKE holders are able to generate liquidity on demand for whatever tokens they want, on whatever exchange they want, by controlling and directing Tokemak’s TVL. This is done through single sided staking on their platform of the token (BANK) then directing liquidity with TOKE via their front end.

Tokemak has several different mechanics and guardrails in place to mitigate IL risk to ensure that Liquidity Providers can always claim their underlying assets deposited, 1:1. These mechanics involve some risk to TOKE stakers, but only as a last resort.

The protocol captures fees from providing liquidity across DeFi. Over time, this will allow Tokemak to build a strong reserve of various assets in Tokemak’s PCA (Protocol Controlled Assets). In the end, the PCA is controlled by TOKE holders through decentralized governance.

It offers opportunities for exchanges to reinforce their liquidity and for market makers to leverage the PCA to create deep liquidity for a specific project.

MISSION & VALUES ALIGNMENT

Tokemak provides invaluable infrastructure for BanklessDAO as it grows and migrates from L1 to L2’s. The support that the platform would provide for liquidity to the BANK token, would enable the tokens use both internally to the DAO, and externally as other platforms begin to integrate with BanklessDAO.

With the Tokemak platform managing the liquidity for BanklessDAO, the DAO can focus on onboarding 1 billion people into crypto without having to worry about the liquidity of the token.

SPECIFICATION

• $3,000,000 in notional value, swapped in BANK for TOKE(details below)
• Kick off a token swap with a 30-day moving average for BANK and TOKE

FINANCIAL IMPLICATIONS

To kickstart a Tokemak Reactor, BanklessDAO will need to do a token swap of $3,000,000 in notional value of BANK for TOKE. This will be a backing for the platform to minimize slippage and risk to single sided BANK stakers.

SUCCESS METRICS OR KPIS

• Deep Liquidity in the chosen AMM of BanklessDAO
• Ability to quickly deploy to different AMM’s, and later L2’s.
• No or low slippage for trades (buy or sells)
• Staking opportunity for BanklessDAO members(BANK holders)
  • Treasuries (DAO, and GUILDS) and BANK holders could stake BANK for TOKE rewards
• Increased treasury value from token swap (TOKE)
  • BanklessDAO would gain exposure to the TOKE token value, and if the platform does well and accrues value, the valuation of TOKE would increase.

POLL

Execute swap with Tokemak for BANK reactor ignition - dependent upon C.O.R.E voting results.

The Balancer Liquidity Mining Program has received thorough forum soft consensus and a proposal to fund and kick off the initiative was created and submitted to the Grants Committee.

The Grants Committee attempted to vote on the Balancer Liquidity Mining Program, although five of seven grants committee members are involved with the proposal, and voting on it would generate a conflict of interest.

As such the proposal must go to snapshot for wider approval of the DAO.

Proposal Details:

Authors: Eagle, Grendel, GavWan, AboveAverageJoe, LuukDAO, davoice321, 0x_Lucas, Kouros

Champion: Eagle_lex Bartolus

Date: October 12th, 2021

SUMMARY

In partnership with Balancer, Bankless DAO is looking to launch a dual liquidity mining program on the Balancer 80/20 BANK ETH Pool.

This proposal requests a Season 2 grant of 1,020,000 BANK as incentives for this program. The Balancer Liquidity Mining Committee plans to match our allocation with 480 BAL/week over the same time period.

BACKGROUND

Bankless DAO is strongly committed in its educational purposes and considers Balancer one of the most innovative and reliable DeFi protocols. Some members of the Bankless DAO outbound-grant squad therefore decided to apply for a Balancer grant.

Balancer has approved a grant proposal presented by @eagle and @grendel for up to 10k USD to be paid in BAL + some incentives for a liquidity mining program. We've completed the initial grant and are now prepared for the incentives for the LM program.

Generally speaking, this program should aid in our liquidity issue while providing a token economic boost for the community. With Season 2, members can retain access with BPT tokens. Additionally, we can add the BPT tokens as voting power on Snapshot.

MISSION & VALUES ALIGNMENT

The mission and values of Balancer are aligned with what Bankless DAO considers fundamental in guiding people towards an economically more inclusive and independent life.

SPECIFICATION

Distribute 85,000 BANK per week over 12 weeks via the Balancer Liquidity Mining program. In total, this equates to 1,020,000 BANK which will last for the entirety of Season 2 and some time in Season 3.

The program will start on October 25th, 2021 and end on January 17th, 2022.

The Balancer team will create a frontend UI for us to distribute the rewards on a weekly basis, claimable on Ethereum mainnet.

FINANCIAL IMPLICATIONS

The total expected distribution will entail 1,020,000 BANK for this 12-week program.

SUCCESS METRICS OR KPIS

The aim of the campaign is to mitigate the liquidity issue and provide a moderate utility boost to BANK.

The target APY for the Balancer pool would be around 25% which equates to $4.5M in total liquidity when factoring the BAL matching rewards.

According to Announcing Bankless DAO

In the retroactive allocation, anyone who donated $.95 or more to Gitcoin grants is eligible for an airdrop.

“The proposal aims to distribute BANK tokens to those who contributed to Gitcoin, fulfilling the promise made in the early days of BanklessDAO”.

ZKsync donors were missed through a clerical error and never received the promised drop.

This proposal aims to finalize the distribution of BANKs to those who took part in the Gitcoin round.

MISSION & VALUES ALIGNMENT

The proposal coincides with what was announced in the BanklessDAO document.

SPECFICIATION

After completing the donor verification, the list of those entitled to receive BANK tokens is equal to 194 unique addresses. It is proposed to distribute a total of 2,201,523.73 BANK pro-quota to these addresses.

This airdrop will be claimable at bankless.community/claim

This airdrop will have a 90 day clawback of unclaimed tokens

There will be remuneration for contributors to the effort of drafting and implementing this proposal as follows:

• 49500 BANK for the squad of 3

SQUAD BACKGROUND

Grendel is Proposal writer IcedCool is Back end work AAJ is Direct member support

Per the Season 2 specification, Guild and Project were each approved for 5 Million BANK and the Grants Committee was allocated 10.5M BANK, with 3.5M set aside for contributor rewards.

This proposal seeks to ratify where these budgeted allocations will go (between guilds and projects), and seeks approval for a modification based on interpretation of the Season 2 Spec.

BACKGROUND

Guilds

Upon review of all the Guild requests, the total request was 374,403 BANK over 5 Million.

In order to fit within the bounds of the snapshot vote, the Dev Guild offered to defer payment till after Season 2 commenced, to be paid from the Grants Committee fund.

Projects

Upon review of the Project Requests, the total request was 1,815,355 BANK over 5 million.

In order to fit within the bounds of the snapshot vote, the Grants Committee interpreted the requirements of the project funding specifications of:

"These projects are well thought out, properly scoped and staffed (see projects proposal workflow), and have a clear budgetary ask in mind. They are not in the ideation phase with loose expectations."

As requiring the projects to have been funded by the Grants Committee previously, and defer funding of the projects that haven’t previously been funded till after Season 2 commencement, as well paying from the Grants Committee fund. (Read in detail here)

This put the project funding request at 3,689,000 BANK, which left 1,311,000 BANK in the budget.

In order to account for the additional funding request needs, the Grants Committee would like the approval of the DAO to roll the 1,311,000 BANK not used in the Project Fund into the Grants Committee Fund, to be validated via snapshot and disbursed from the BanklessDAO Multisig.

This funding will go towards funding the deferred guild and projects described above.

SPECIFICATION

• Increase the BANK allocation to the GC multisig for Season 2 by 1,311,000 resulting in a new total allocation of 11,811,000 BANK

Guild Funding = 4,954,403 BANK

• Legal Guild = 288,000 BANK
• Writers Guild = 302,000 BANK
• Marketing Guild = 306,000 BANK
• Operations Guild = 520,000 BANK + 3 ETH
• Treasury Guild = 286,385 BANK
• DAOlationships = 276,000 BANK
• Translators Guild = 434,000 BANK
• Education Guild = 735,000 BANK
• AV Guild = 606,233
• Analytics Guild = 592,400 BANK
• Design Guild = 490,000 BANK
• Research Guild = 118,385 BANK

Project Funding = 3,689,000 BANK

• First Quest = 461,000 BANK
• Bankless Academy = 1,340,000 BANK
• Bankless Loans = 194,000 BANK
• Website = 360,000 BANK
• DEGEN = 1,334,000 BANK

Ratify the results from the forum election and vest the following candidates with the power to receive and distribute funds from Bankless DAO Treasury multi-sig.

The proposed Treasury Multi-sig Signers are:

• frogmonkee#6855
• Above Average Joe#5427
• 0xLucas#3124
• Grendel#3875
• Kouros#2107
• Icedcool#4947
• RedVan#0611

Background

Forum Post

Specification

• Ratify the 7 Bankless DAO Treasury Multi-sig Signers
• Remove the existing members from the treasury multisig (under Community Treasury subheader)
• Add the elected members to the multi-sig

Ratify the results from the forum election and vest the following candidates with the power to receive and distribute the Season 2 Grants Committee Budget via the Season 2 Grants Committee 4 of 7 multi-sig:.

The proposed Season 2 Grants Committee Members are:

• 0xLucas#3124
• Kouros#2107
• Above Average Joe#5427
• Grendel#3875
• Icedcool#4947
• nonsensetwice#3475
• Eagle#2979

Background

Forum Post

Specification

• Ratify the 7 Season 2 Grants Committee Members
• Remove montgomery#8177 from the GC multi-sig
• Add Eagle#2979 to the GC multi-sig

You can read the full specification here.

Read the full specification on Seasons and special Season 1 considerations

Title: Rewarding Season 0 Active Community Members Original Conversation: Recorded Discord Discussion Authors: @frogmonkee Snapshot Proposer: @0xLucas Date: 6/2/21

SUMMARY

In order to retain talent and say thank you to everyone that has contributed to Bankless DAO over these past four weeks, this proposal will retroactively distribute 1 million $BANK based on a fair voting method available to any DAO member via Coordinape.

This will serve as an initial trial for contributor compensation for future rounds in Season 1.

BACKGROUND

On Sunday May 30th, AboveAverageJoe made this post on forums, proposing a method to back pay all the valued community members and their contributions to the DAO. Shortly afterwards, people started filing into voice channels to discuss, and the conversation went on for hours.

This conversation was fated to happen as soon as the DAO was created. For four weeks, community members have lifted the DAO and carried it step by step. As time went on, this enthusiasm turned into concern about sustainability. The market had taken a dump and the hours everyone was putting in netted zero income.

From quiet whispers, Joe brought this topic in the limelight. We had a healthy discussion that reinforced the DAO’s ability to ideate and work through difficult problems as a collective.

MOTIVATION

The motivation of this specific proposal is to retroactively distribute $BANK to valuable community members from Season 0. Typically, companies don’t spend money they don’t have, and we fall squarely into that category. But, we need to give some reward, or we will inevitably lose talent that feels unappreciated.

That’s why, for Season 0 , we propose treating $BANK as equity and not a wage.

SPECIFICATION

To distribute $BANK, four questions came up as the most important:

• Who will receive $BANK?
• How much $BANK will they receive?
• How will they receive $BANK?
• When will they receive $BANK?
• Who will receive $BANK?

This is the trickiest question, isn’t it? Ideally, we want to be as inclusive as possible, but also support informed decision making and not a popularity contest.

The solution here is an opt-in program for all members. Anyone is eligible for the round and may self-select by filling out this form: https://forms.gle/4yLDFcZvq2kcFJVw7

All members who fill out this form prior to the starting period will be eligible to participate in the round

How much $BANK will they receive?

Collectively, a pool of 1,000,000 $BANK will be allocated to Coordinape.

** How will they receive $BANK?** Using Coordinape. Coordinape is a P2P budget management tool that grew out of Yearn Finance. This is explained further below.

When will they receive $BANK?

Once Coordinape is implemented, we will start a one week vote period with 1M $BANK, after which the funds will be proportionately distributed across participating DAO members based on the results from the Coordinape voting.

What is Coordinape?

Coordinape is central to this proposal. Coordinape was a project spun out from Yearn Finance You can think of Coordinape as a peer to peer payroll management system. It’s broader than that, but for our purposes, it works. (For reference, Yearn’s governing DAO is a few steps ahead of BanklessDAO, but there are many parallels.)

The essence of Coordinape is allowing your peers to determine your earnings. The process works as such:

• Each member is given 1000 GIVE tokens. Each token represents a proportional share of the salary pool (1M $BANK)
• Members can gift (or not) GIVE tokens to people they think deserve some share of the pool.
• After a voting period, all the unallocated GIVE tokens are burned. The remaining number of tokens represents a proportional piece of the salary pool, and members are programmatically paid their share based on the number of tokens they’ve received.

The simple premise is that if you ask everyone in the community who is doing good work, their collective answers will give a good sense of where the value is and who should be most rewarded. Over time, this also provides valuable insights for the DAO about what kinds of work is prioritized, what the community finds most valuable, and who are the key contributors in different areas.

You can learn more about Coordinape by reading their Medium announcement post, Docs, and Youtube demo.

How would this work?

Let’s tie all these topics back together. We’re proposing that:

1. Using Coordinape, we will let DAO members vote on how 1M $BANK will be allocated to their peers
2. Any DAO member that has at least 35K $BANK is eligible and can opt in with this form
3. Over a one week period, we will all be able to claim their tokens and allocate them to any other DAO member
4. After the voting period, the 1M $BANK will be distributed proportionally to the number of tokens they’ve received.
5. Participants will fill out a survey evaluating their satisfaction with their payout.

Success is defined as a >80% satisfaction rate.

Next Steps

1. Approve the proposal on Snapshot budget (1M BANK)
2. Onboard to Coordinape
3. Begin a one week voting period
4. Distribute funds
5. Take a survey

FAQ:

How do we know if this model will work?

We don’t. That’s part of the great blockchain experiment and why we're allocating a smaller amount of BANK to this program. It's meant to act as a trial! We’re inventing new ways to distribute money in a fairer manner. But both Sushiswap, Yearn and others use Coordinape, so there is some social proof. Internally, we will define success as a >80% satisfaction rate amongst participants.

What about members that like to work solo?

These people will slip through the cracks. Right now, the community is small enough that we can recognize and vouch for these members. Also, Coordinape has a “regift” feature where members that were overcompensated can redistribute. This is not a great solution, but Coordinape is working on this problem.

Resources

Forum Post Draft Forum Post Final