Poll Question for Bankless DAO Members
The purpose of this poll is to gather a general consensus and feedback on future profits generated by the DAO. If/When the DAO begins to generate sizable profits, should some of the profits be distributed back to the $BANKholders?
I believe this question serves two purposes.
- Being a $Bankholder provides a certain level of membership/ownership in the Bankless DAO. As a member/owner, is there an expectation or entitlement to profits? I think it should be clear to all current and future $BANKholders as to how profits are handled within the Bankless DAO.
- I believe this is a critical question to answer regarding any future legal entity setup. For example, if the DAO decided to allow future profit sharing, we have to create an entity structure that would allow for profit sharing.
I believe these are some of the considerations each $BANKholder needs to make.
- Does allowing or disallowing profit sharing change the integrity of the DAO? Does allowing or disallowing align with the goals of the DAO?
- Does allowing profit sharing create any potential problems with the SEC? Honest questions, I know very little about SEC laws.
- Profit sharing entities are all but guaranteed to pay income tax regardless of where (country) the entity is registered. That said, disallowing profit sharing doesn’t guarantee less or no income taxes on profits either.
- Would profit sharing incentivize more people to contribute?
- If profit sharing was disallowed, would any current $BANKholders leave or cease to contribute?
- Would profit sharing only incentivize more buying/selling of $BANK tokens instead of contributing and earning $BANK tokens?
I think there is a lot to think about regarding this topic. I personally feel this decision could change the dynamic of the DAO long term. I don’t feel there is a right or wrong answer either. Please share your thoughts. This information isn’t only for my benefit but for the DAO as a whole.
Disallow Completely - The DAO should create an entity structure that will forever keep the profits within the DAO. The DAO should only pay out $BANK or other currencies strictly on each member’s contribution. Let’s keep the whales from buying up the $BANK to fill their wallets.
Disallow With Future Consideration - The DAO should disallow profit sharing but should create an entity structure that would allow for future profit sharing consideration.
Allow Limited Profit Distribution - Hard work pays off. We are creating an entire new way of business. Those that helped pave the future should be rewarded long-term for what they’ve helped create. Profit sharing should be allowed for only $BANKholders that gain a certain level of discord membership for their vast contributions. This can all be defined more accurately if decided is the best option
Allow Profit Distribution For All - All $Bankholders should be granted a share of profits based on the amount of $BANK they possess.
- Disallow Completely
- Disallow With Future Consideration
- Allow Limited Profit Distribution
- Allow Profit Distribution For All