BanklessDAO White Paper

General
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Presentation of the BanklessDAO White Paper
Author: Legal Guild

Dear Community,

Some members of the BanklessDAO Legal Guild have prepared a White Paper with the aim of giving the needed first information to people willing to know something more about the genesis of our project, our token, and the technology that we use.

The document is somewhat peculiar in its genre, as normally it should be prepared and made available before token launch. In our case, back in 2021, the genesis team has prepared some forum posts that give explanations about the purpose of the organization and the initial token distribution. We have of course used this information in order to form the different sections of the White paper.

We have then added some other items which reflect the subsequent evolution of our organization. The information contained in the document is not complete. It would be impossible to explain in detail our complex governance and remuneration systems. This was not our intent. The aim of the document is answering the first basic questions that a person may have in approaching BanklessDAO. The document should be made available (in a nicer fashion) on our website.

Within the document you will also find some legalese which is intended to protect our community.

Comments and suggestions are welcomed! We will leave the document available on the forum until the end of March. Some members of the community have already begun to comment. We are very thankful for this input and are going to answer in the next few days.

Here the draft of the document:

Many thanks to @hirokennelly @lion917 @terumask @Cheetah @Trewkat for the valuable contributions.

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Thanks for getting this together @Eagle and team!

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Thanks for putting this together. It is an important read that EVERY member of the bDAO should read before diving into the work. This is essential if we should be aligned and moving in one direction.

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Thanks for the effort. Answered many questions I have, and got more questions now. Wonder why such an important topic hasn’t get much attention here. Anyway, just want to say thank you and show my appreciation to the team.

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This is amazing and an enormous gift to the community. Thank you guys for putting this all together. Super excited to see this listed front and center on our new website.

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Thank you for this, and to other commenters who have appraised it as a “must read”. Looking forward to digging in.

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right, you would have thought that the folks that received the 300 million BANK tokens in the AIRdrop would have worked on this. Looking back it seems like we gave away a third of our tokens to folks who largely chose to not participate. Cheers to those folks who are still around.

On the upside those folks should sell most of those tokens and get shook out of the market making those tokens pretty cheap for current bankless members to buy back.

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What if most of them choose to hold, considering the potential Bankless Dao showed and low cost they paid. Price volatility is good for shakeout but the process would be very long. Increasing compensation to contributors and Issuing new tokens in the future may be a possible approach.

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Thank you for all the hard work everyone involved on putting the whitepaper together. . We appreciate you all!! 🫶🏻👏🏻
I am going to be able to get involved more so if anyone need anything please ask. I’m new to bDAO.

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Thank @Eagle and team answered so many questions

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