This is the official newsletter of the Bankless DAO. If you were a Premium Member of the Bankless Newsletter as of May 1st 2021 you have been subscribed to this newsletter at launch. To unsubscribe edit your settings here.

It’s genesis week for the Bankless DAO, and it has been the birth of something remarkable. 

Bankless is a decentralized movement with self sovereignty at its core. We are its DAO, community owned and governed, driven forward by shared core values.

We’ve seen a community of leaders, artists, developers, creators, and contributors come together with a single mission: to get one billion people to go Bankless.

A lot has happened in the first four days of the DAO and we are only getting started.

Authors: bg999, siddhearta, Himanshu, frogmonkee

Community Highlights

The birth of Bankless DAO was covered on The Daily Gwei! Check out the May 5 episode of The Daily Gwei Refuel to hear Ethereum community member (and ETH mega-bull) Anthony Sassano’s thoughts on the launch!

There was a great ode to Bankless DAO on the Ethropy substack! Read Bankless DAO member @Ace da Book’s heartfelt thank you to the Bankless team for their creation of the DAO, and helping to steward this revolution. Ace also declared his intention to contribute to the DAO and to make the world a better place. Thank you Ace!

Bankless DAO found its way to the Boardroom! Take a look at the May 6 edition of “This Week in DAOs” to read the decentralized governance newsletter’s take on the launch of Bankless DAO!

No surprise here: The Bankless DAO made the Bankless Weekly Rollup! Check out the “1st Week of May” edition of the Rollup to hear Ryan and David’s take on the launch and first days of the DAO!

10 things about a DAO

From Ryan Sean Adams: During this early phase I think we're all still learning how to do a DAO. I jotted down 10 things I think are important. I could be wrong on some of these, but I guess we'll all learn as we go.

1. Ask first: what can you do for the DAO?

2. Forget about token price. 

3. Discord is the org chart.

4. Three words: on-chain cash flows.

5. The goal of a DAO isn't equality, it's curation. (We curate talent & contribution).

6. The goal of the Bankless movement is more equal access. (Don’t confuse #5 and #6)

7. Always make it fun. 

8. Find squads. Form squads.

9. You don’t need permission.

10. Yes, you’re still early.

What’s New

• Bankless DAO is born: On May 4, the first ever media and culture DAO came to life! The Bankless DAO is a decentralized community with a mission of driving adoption and awareness of Bankless money systems through the creation and propagation of Bankless media, culture, and education. Click here to read the announcement post in full and see what the Bankless DAO is all about :)

• BANK Token Distribution Event: BANK, the governance token of Bankless DAO, was distributed via fair launch to the Bankless nation. Of the one billion total BANK, 30% was allocated to the genesis treasury, 40% distributed to a vesting community treasury, and 30% retroactively to Bankless community members. These include 2020 or 2021 Bankless Badge holders, BAP0 owners, or Bankless Gitcoin Grant donors. Check here to see if you are eligible to claim some BANK!

(WARNING: Scammers never sleep – There are fake BANK tokens out there! Make sure to use the correct token contract address when swapping or providing liquidity.)

Creation of Governance Forums: Our governance forum is now live on Discourse! This is the space for DAO members to discuss ideas, tackle problems, debate proposals, and determine the direction, initiatives and funding for the BanklessDAO. This is where YOU can make your voice heard. Head on over to the forums to participate in the discussion and see what we’re cooking up!

Live Proposals

[Passed] Bankless DAO Genesis Proposal: Just today, the Bankless DAO’s first ever proposal passed with overwhelming support. Penned by Bankless LLC, the corporate entity of the founding Bankless team, the proposal called for a 250 million BANK token allocation to the LLC and genesis team members. In passing this proposal, the incentives of Bankless DAO are now better aligned with those of the leading figures of our movement.

[Ongoing] Allocation of CMS Holdings Donation: DAOs can be a tremendous force for good, even if they are only two days old! At the behest of trading desk CMS Holdings, the Bankless podcast has bravely accepted the offer to host Udi Wertheimer for his explanation of why Binance Coin (BNB) is ‘hyper-sound money.’ CMS has offered to donate $100,000 to a charity of Bankless’s choosing as a reward for doing so. Chosen by BanklessDAO, we have a live Snapshot for you to vote.  Click here to cast your vote and decide which cause you would like to support! Currently, Gitcoin is in the lead with COVID relief for India in second. Voting ends May 10th.

Proposal in Discussion

Badge Based Distribution for Subscriber Airdrop: DAO member @lambda has proposed replacing the current method for determining the retroactive distribution for Bankless Premium Members based on “unique emails seen” to an even distribution to all Bankless Badge Holders. Click here to read the proposal and join in on the discussion! There’s a chance that you are eligible for more $BANK, share your thoughts.

Creation of the Writers Guild: DAO member @frogmonkee, along with co-sponsors @totehoser, @bg999 and @crayonz, have proposed the creation of a Writers Guild, a collective of writers that are available for usage within the community. Click here to read the proposal and participate in the discussion. The Writer's Guild model also birthed the Translators Guild.

Media Node Onboarding Model: DAO member @wolfehr, along with co-authors @MrPackman and @Fabien Klauder have proposed a model for deciding how the Bankless DAO can interact with media nodes. Click here to read the proposal and make your voice heard.

DAO Museum: DAO member  @Elyon has created a proposal for creating a DAO Art Museum. You can join the discussion on the DAO server’s dao-museum channel under the proposal discussion tab. Click here to read the proposal and join the discussion.

Season 0 Marketing Blitz:  DAO members @frogmonkee and @minimax.eth have proposed an intensive blitz of marketing tactics aimed at announcing the arrival of the Bankless DAO in preparation for the upcoming season. Click here to read the proposal and be part of the marketing blitz.

Action Items

Get Started: Read the getting started guide to learn how you can get involved with Bankless DAO

Claim: Your badge! It’s vital to your membership.

Level Up: Contribute your skills, energy, and time to the DAO and unlock level two membership. Submit a proposal, vote, and join the conversation. Your contribution matters.

Meme of the Week

@bobbyll

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