[Draft 1] Season 2 Specification

:warning:UPDATED SPECIFICATION: :warning:

:rotating_light::rotating_light::rotating_light: PLEASE READ THE GOOGLE DOCUMENT. ALL CHANGES FROM SEASON 1 ARE HIGHLIGHTED YELLOW. :rotating_light::rotating_light::rotating_light:


  • Season 2 will start on October 8th, 2021
  • Grants Committee will affirm projects funding requests going to Snapshot, keeping the total funding cap under 5M $BANK
  • Grants Committee will affirm guild budget requests going to Snapshot, keeping the total funding cap under 5M $BANK
  • Transfer 10.5M $BANK to the Grants Treasury for Season 1, with 3.5M for contributor rewards

Next Steps

  • Formalize the project proposal workflow in Notion and Discourse
  • Begin the process of electing 7 multi-sig signers for the BanklessDAO treasury and phasing out those chosen at genesis by the LLC (original signers may apply)
  • Begin election process for three seats on the Season 2 Grants Committee
  • Transfer 10,500,000 $BANK to the Grants Committee multi-sig🚨


Move to snapshot (1 week voting period)

[poll type=multiple results=always min=1 max=1 chartType=bar]

  • Yes
  • No (provide suggestions below)

I have two questions:

  1. What happens if the Guild funding requests overcome the limit of 5M? Will all the budgets be proportionally reduced or will the GC take a decision on the single requests presented by the Guild?

  2. The Snapshot vote will be on proposals presented by the GC?

In sum, I don’t understand exactly what “GC will affirm guild budget requests going to Snapshot , etc.” exactly means.


Always appreciate the initiative @frogmonkee.

Added some feedback in the doc!

Since this is in the feedback stage, I believe this limit is malleable, and we can change that parameter to something else if there is a better solution presented

  1. Probably can come out of Grants Committee budget. I highly doubt we’ll be spending more than 5M on Guilds
  2. Yes. It’s centralized, but I’m worried about something going directly to Snapshot with a ridiculous ask and under-educated token voters affirming it because OMG HYPE SEASON 2

Is the total for the season 15.5 Million? 5 Million among the guilds and 10.5 for Grants Committee?


I am totally fine with the GC exercising some sort of discretional power and then submitting to a snapshot vote for approval. Someone who has the whole picture needs to determine the budget!

1 Like

Makes sense to me. The idea of moving most the budget to fund projects, while leaving guilds primarily as talent pools to assist makes a lot of sense.

Can really help simplify things a fair bit.

No, 20.5 max

5M for guilds, 5M for seasonal projects, 3.5M for contributor rewards and 7M for grants committee.

1 Like

I again disagree on the Coordinape round for guest pass holders. I believe a nomination process and rewards of 35K is more appropriate for Guest Pass holders.
I really need to see evidence of their work and for this reason a Lv 2 must nominate a Guest pass holder outlining the work that they’ve done.

Apart from this, I don’t have any other objections to the proposal.


@frogmonkee regarding Project funding, one of our projects DAO Dash is just wrapping up a proposal for requesting funds from the Analytics Guild pool for Season 1 (this project just got off the ground early September).

For Season 2, we plan on requesting from the Grants Committee directly – is there any leeway for the September 20th deadline?

I believe a nomination process and rewards of 35K is more appropriate for Guest Pass holders.

I dislike this model because we are now tying value to the nomination, meaning it has to be standardized. What qualifies as a meaningful nomination? It’s fine for Level 2s because there’s no immediate value associated with it.

Another question is what is the cap on BANK? And if we meet that cap during the season, that means Guest Pass members can no longer be rewarded BANK?

Finally, the 35K nomination is an all or nothing deal. There’s a long tail of value that guest pass members provide that they can capture with a coordinape round that would not be captured via guest pass.

Well it seems that many people think otherwise as per the likes to my response.

Blockquote What qualifies as a meaningful nomination?

Every case would be assessed individually. In coordinape any Guess pass can take part, the ones that add value and the ones that don’t. I don’t really know who all the ones that add value are so that’s why I want to see evidence of their contribution.

Blockquote Another question is what is the cap on BANK?

What we can do is to do a coordinape round with the Guess pass holders that have been nominated so this way we solve the problem of the BANK cap and also we restrict it to GP holders that do meaningful contributions.

This sounds like a good compromise to me. Guest pass holders get nominated to participate in a coordinape round by L2 members and then L1 and L2 members allocate GIVE tokens?


Exactly! Great I think we have it now.