This proposal aims to incentivize contributors to the DAOstewards work group, who are involved in metagovernance on behalf of banklessdao. We aim to establish two work streams, one for BanklessDAO governance and the other for governing the DAOspace.
Our total ask for S6 is 300,000 BANK.
The governance of BanklessDAO is scattered around different ‘Org levels’ without proper coordination. The DAO needs a single entity to maintain the BanklessDAO constitution and oversee the BIP process. The Governance solution engineers (GSE) established in Season 3 only had ideation power and lacked proper coordination and execution mandate. As a result, the recommendations of the GSE would be limited to forum posts without further action from the community. Lack of a point of coordination between different governance initiatives will result in groups working in silos, ineffective spending of DAO resources and eventual coordination failure. A classic example of Molach in a DAO.
DAOstewards was initially established as a coordination group to consolidate the SAFE tokens associated with BanklessDAO multi-sig to a single, value-aligned entity which can propose and vote in the governance of Safe DAO. However, this coordination effort quickly exposed some loose ends in the BanklessDAO governance and the urgent need to fix it.
The members of DAOstewards - mostly a comparison of current and ex-BanklessDAO grants committee members - have a proven track record of introducing thought-provoking governance discussions in Bankless DAO and elsewhere.
DAOstewards initiative aims to increase its mandate from Safe DAO governance to a broader approach. The new process is to coordinate itself into two workstreams, one with a BanklessDAO first mandate and another to execute the values of Bankless in the wider ‘Daoverse’. These two workstreams ensure the development of the BanklessDAO governance and spread the Bankless Mission to a broader audience.
Steam 1: BanklessDAO governance
The BanklessDAO governance workstream will research the state of governance in the DAO and establish standard operating procedures for ensuring compliance with our governance contract = the constitution and suggest potential solutions when conflict arises. Besides this, the workstream will initiate new ways the DAO can grow and evolve. We will investigate the feasibility of a governance education course to increase quality participation. This gated workstream welcomes value-aligned individuals with a Level 1 Membership in Bankless DAO.
Ps: The workstream will not accommodate Guestpasses and ‘Level 2s’ without a Level 1 membership status.
To execute the above strategy, we request a total of 100,000 BANK, which will be cordinaped between contributors at the end of the season.
- Guidelines and structure for exercising and maintaining governance in the DAO
- A pipeline of potential champions for the DAOstewards Governance Dept
- A pipeline of potential contributors for the Dept
Stream 2: Governing DAOspace
Recently bDAO multi-sigs received SAFE airdrops, but there needs to be more knowledge and interest in governing SAFE by each of the several multi-sigs. Additionally, many tokens, such as Optimism, and Element finance, were airdropped to banklessDAO members, and everyone Had to delegate to claim these tokens.
Collectively as the bankless community, we have enough governance power to propose and sway the DAOspace according to Bankless values, but we cannot exercise this power unless we are actively governing (i.e. voting with those tokens)
In the future, we expect most airdrops to ask receivers to delegate their tokens before claiming them. Therefore, it would be in the best interest of the DAO to consolidate this governance power within the DAOstewards department so that we can represent and exercise the interest of BanklessDAO in the DAOspace. Anyone Interested in joining this initiative can check the eligibility criteria here.
To execute the above strategy, we request
- 100000 BANK for compensating protocol leads
- 100000 BANK for compensating contributors via coordinape
- A report on voting history and rationale if relevant
- Internal Campaigns to delegate future airdrops to DAOstewards.
- Extended visibility in the DAOspace to reach a larger audience for delegation
How can this benefit the DAO in the short term?
Many active projects in BanklessDAO want to be funded by other DAOs. For example, Bankless Academy recently lobbied Optimism governance to make an L2 course on the academy.
In the same way, other groups interested in getting funded by the DAOs where DAOstewards are delegates can use our connections and voting power to influence governance and get sponsored to forward their missions.
As an immediate example, we have enough tokens to propose SafeDAO to make an Academy course of multi-sigs.
How can this benefit the DAO in the long term?
MakerDAO is the only DAO in web3 which pays its delegates to exercise governance; however, meatspace lobbying groups often receive large sums of money to exercise governance in corporations and nation-states.
We are in the early stages of DAO and decentralised governance. As the importance of good management becomes apparent, more DAOs will allocate budgets to delegates and delegation groups to exercise governance. However, there is some time between now and then. One option is to wait till this happens and then ask folks to delegate to us and save costs. However, there is no incentive for folks to be active in governance today, let alone redelegate tokens to some group. Hence, the best strategy is to spend funds on accumulating governance power now and do the bare minimum to be active in governance. Then, when DAOs spend more on management, we’ll already have representation in several top DAOs as well as steady income streams.
We want to request 300,000 BANK this season to kick start this process. Our suggested KPIs are
- number of proposals on bDAO forum
- number of external proposals voted on
- Yes, let’s do this!
- No, this needs further changes (comment below)