Decentralized Law Season 8 Update
Author: HiroKennelly
Date: April 7, 2023
Summary: DL didn’t ship during Season 7, largely due to a shifting contributor base in the Legal Guild.
Curious: does the Bankless community want to see DL continue, and if so, should we seek contributorship outside of the DAO?
Thank you!
HiroKennelly
Trewkat
COYSrUS
0 voters
I would support seeking external funding and contributorship
Hi @hirokennelly could we have more information please
Of course - What kind of information would you like?
I actually don’t know much at all about Decentralized Law!
I’d start by reviewing the newsletter! Decentralized Law | BanklessDAO | Substack
I sure will, as a DAO member. As a GC member I would be curious about the budget.
I’d hope as a GC member that you’re also curious about the content. As for the budget, we have a holdover balance and are all good for the foreseeable future.
Honestly, as a GC member, I would only be concerned with ensuring that a project upholding the quality of the Bankless/BanklessDAO Brand, that all champions/parties on the multi-sig and any 3rd parties have been properly vetted, that the project aligns with the Bankless mission, that the project is a good market fit and wouldn’t introduce any possible legal challenges and the budget - to ensure that our governance token is distributed fairly.
again, thank you for engaging these issues - i’m super impressed with your willingness to Do. The. Work. In the interest of public discourse:
how does the GC evaluate what makes a good product/market fit? the GC isn’t made up of subject-matter experts, so what’s the criteria you use to make those decisions? what quality does the Bankless brand possess? does the GC take potential legal liability under consideration when funding projects, and if so, what jurisdicational precedence or civil law norms does it use? Is distributing our governance token part of GC’s mandate? should it be? what does fair mean in that context? Does the GC actually vet proposal proponents, and if so, what criteria is used?
You are correct, the GC is not made up of subject matter experts. Though with a set of criteria/guidelines to follow, I don’t believe that having to be an expert in an area is necessary.
To answer your question as to what I use for criteria - As a steward of the DAO, I first look to verify all contributors on a project and also 3rd parties involved. Including if any of the stakeholders have gone by previous names/company names and their reputations.
For a project to be funded, it should align with the Mission, Vision and values of the DAO. However if a project were to leverage the Bankless name, they would have to share the same core values that the Bankless brand represents: Credible, trustworthy. Reliable. (We wouldn’t want to partner with the next SBF or fund the next Mt. Gox) as that would impact the DAO in a negative way and inevitably trickle back to HQ.
Using The Rug as an example - They are fully aligned with the DAO’s mission, however their content is designed to be comical and not credible. They don’t leverage the Bankless name.
I look the jurisdiction of HQ’s LLC and laws that impact that impact that jurisdiction. (Even though the DAO is separate from HQ) then take all other jurisdictions into consideration.
For this legal information, I look to all of you experts along with other credible experts in the ecosystem to provide me with the info.
It is within the GC to vet all projects that are seeking funding. We can work to have a better process for this. The issue that I personally run into is that in order to properly do this, it requires an amount of time to be put in that is much greater than the amount currently allotted for. (ie: the BANK rewards distributed to a GC lead is 2,500/week = 2.5 hours) Just to properly vet (research/investigate) each project could take longer than that. We all do our best, but when the input/output ratio is extremely imbalanced it becomes infeasible.
I hope that this answers your questions.