Season 9 Seasonal Funding - Late Items
Title: Season 9 Seasonal Funding - Late Items Proposal Champion(s): Links, Paulito Date: Sept 20th, 2023
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”
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
Tokenomics - Approve DAI Capital Efficiency Strategy
Squad: Treasury Department Date Created: 12.06.2023
BanklessDAO treasury has 14,693.416 DAI sitting idle Deposit DAI in BanklessDAO’s Rari Fuse pool and earn 6.53% APY
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]
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
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.
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.
There are no immediate costs associated with this proposal.
Success Metrics or KPIs:
Revenue raised for BanklessDAO and its projects Voting weight
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 Seasonal Funding
Title: Season 9 Seasonal Funding
Proposal Champion(s): Links, Icedcool
Date: Aug 19th, 2023
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.
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