Author: @cryptodad @jengajojo @baer.eth Squad: DAOstewards

TL;DR

This proposal suggests delegating VITA token voting rights to DAOstewards.eth to improve BanklessDAO’s participation in VitaDAO’s governance. It aims to build on top of the treasury swap we did with VITADAO last year and create mutual collaboration, which can solidify the DAO position as a leader in the web3 space.

Background

BanklessDAO holds various other DAOs’ governance tokens, which grants BanklessDAO voting rights in participating in these DAOs’ governance processes. It is crucial for BanklessDAO to actively participate in the governance of these DAOs and provide value to them. However, it can be challenging for average BanklessDAO members to timely and efficiently follow what happens in these DAOs and participate in the governance process.

To mitigate this issue, DAOstewards is a meta-governance group formed in Season 61 for BanklessDAO, consisting of dedicated BanklessDAO members with competence, discipline, and bandwidth to participate in the governance process. Since then, DAOstewards has been assigned to vote for SAFE token held by BanklessDAO.

In Season 5, BanklessDAO acquired VITA tokens via token swap1 but was not able to actively participate in the governance of VitaDAO. This proposal aims to assign VITA token voting rights to DAOstewards to improve governance participation in VitaDAO.

Mission and Value Alignment

By actively executing voting rights and participating in governance processes, BanklessDAO can provide valuable input and contribute to the success of VitaDAO. This, in turn, can increase the value of the VITA token, benefiting both VitaDAO and BanklessDAO.

Through its active participation in the governance of other DAOs, such as VitaDAO, BanklessDAO can set an example and encourage those DAOs to participate in BanklessDAO’s own governance. This mutual collaboration can create more value for all parties involved and foster a more robust web3 ecosystem.

Active governance participation can also be a powerful tool for BanklessDAO to increase its influence and promote initiatives that align with its mission. By engaging with other DAOs, BanklessDAO can leverage its expertise and resources to advance important projects, expand its network, and solidify its position as a leader in the web3 space.

Specifications

The VITA token is the governance token of the VitaDAO ecosystem, which aims to develop and commercialize cellular and gene therapies. To increase participation in VitaDAO’s governance, we propose that BanklessDAO delegate its voting power to ‘daostewards.eth’.

DAOStewards will act as the delegate of BanklessDAO to make proposals, give feedback, and vote in VitaDAO’s governance. To carry out this duty, DAOStewards will form a dedicated group of individuals with competence, discipline, and bandwidth to participate in VitaDAO’s governance process.

VITA Delegate Pod Structure

The DAOstewards delegation comprises max. five members who are vetted DAO governance participants.

Selection Process of Pod Members

DAOSteward’s core team has onboarded the following governance talents:

Jengajojo Cryptodad Thinkdecade

Thanks to the VitaDAO and Metropolis Pod smart contracts, delegate membership is fluid; the Membership is represented as ERC721 access tokens, the DAO or the initial cohort of delegates can add or remove members if a member is inactive or not value-aligned. The exact process of removal should be fleshed out.

Historical Voting of BanklessDAO in VitaDAO None, The current voting power of BanklessDAO in VitaDAO is 16,046 VITA. The expected voting power after the snapshot is also 16,046 VITA.

Financial Implications

The delegation of tokens requires no new or unexpected expenses. Delegation and voting on-chain require gas, which is covered by BanklessDAO’s gas refund policy.

Success Metrics or KPIs

The success of the delegation of VITA token voting rights to DAOstewards will be measured based on the percentage of all proposals voted on and communication of the rationale behind votes, and revenue/perks generated for BanklessDAO.