As a social DAO, Bankless has a unique role in the crypto ecosystem. It doesn’t have any on-chain function, it simply has a community and an ethos. There are lots of companies, products, and services out there to use, and none are exactly like the other! Our community are their users, and we’d prefer that our ethos matches up with theirs. We want to be bankless, so how can we know which of these companies/products/services to use?
A Bankless audit would analyze the code of the project as any other audit would, but it would also verify that it matches our ethos. A successful audit would reward an NFT badge of approval that could be displayed on a website. Then it would be easy for our next billion users to quickly identify on-chain which services are acceptable to use, and which ones are a risk.
The code audit would look for errors or loopholes, whatever a regular audit consists of. (I currently have near zero programming knowledge). The benefit would be that we have a reassurance that our money won’t be stolen or lost. We would have to hire talent in order to accomplish this. There may be legal implications I’m not aware of.
The ethos audit criteria would have to be formally decided by the rest of you, but one requirement I think we can all agree on is decentralization - No 3rd party intermediaries, no centralized controlling entity, no potential for rug pulls, etc. That’s the heart of being bankless. But perhaps anonymity, tokenomics, functional output, secondary effects, or social policies could be considered as well.
P.S. - My only other post here was a complaint about not receiving any of the next upcoming airdrop despite actively following Bankless since DeFi Summer. However, I’ve decided that as a social DAO, my voice can do a better job influencing a vote than any amount of tokens could. So, I’m back in.