(DRAFT 2) Bankless DAO <> HumanDAO

Grants/Funding
1

Read the original proposal: DRAFT (1)Bankless DAO <> HumanDAO

Authors: Airbayer | Bankless DAO🏴#0052, siddhearta#9802, Chris2pherChase#3619, Above Average Joe#5427

Date: 20 November 2021

SUMMARY

HumanDAO initiates BanklessDAO treasury seed & partnership.
HumanDAO will utilize DEGEN, and BED.

SQUAD BACKGROUND

Chris2pherChase#3619 is a founding member at HumanDAO, previously built volatility vaults at Chainhaven.com. Inspired by the goal of creating a global middle class through web3 with the collaboration of banklessDAO to onboard a billion people to a bankless lifestyle and unlock opportunities outside their local economies.

https://twitter.com/Chris2pherChase

Airbayer | Bankless DAO🏴#0052: Been a bankless dao member since inception and absolutely enjoy the crypto space and what it can do for society. Humandao aligns with the mission and values of equal opportunities for all which encouraged me to pursue this partnership.

https://twitter.com/Airbayer1

siddhearta#9802: Writers Guild, and Newsletter team. Author of Media Spec

https://twitter.com/0xSiddhearta

Above Average Joe#5427: HDAO Multisigner representative from Bankless DAO

https://twitter.com/Abv_Avg_Joe

MISSION & VALUES ALIGNMENT

HDAO is uniquely aligned with BanklessDAO’s vision of one billion+ financially independent people, and would like to help grow a global middle class by pulling the 61% up through opportunities in crypto and providing new profound revenue streams to those at the top.

Revenue model:

**HDAO loans out P2E game NFTs to community members in an ISA (income sharing agreement). These NFTs allow members to participate in P2E crypto games, like Axie Infinity.

**They earn crypto tokens through playing, which they can exchange for local currency. For lending the NFTs, the humanDAO takes a percentage of the tokens earned.

HDAO uses its share of revenue to buy yield producing NFTs, governance tokens, and stablecoins to fund outreach missions in emerging markets and underdeveloped nations

The DAO’s initial activities will include:

  • Producing revenue through the rental or sales of DAO-owned assets.

  • Building a global community of users who play competitively and collect in-game rewards.

  • Utilize a portion of the revenues to feed those in underserved communities.

  • Educate the masses onboarding through P2E about crypto and web/3.

  • Fund emerging projects/micro-lending

DAO Structure

For more Information on their DAO structure visit their docs at https://docs.humandao.org/​

SPECIFICATION

HumanDAO will give BanklessDAO 5 million HDAO tokens from the builders allocation.

The vesting schedule as follows:
BDAO will receive 500k tokens liquid at launch

BDAO will receive 93,750 HDAO vested tokens every month for 48 months after 1 year cliff

Contributor vesting schedule Above Average Joe and AirBayer

  • Above Average Joe will receive 500k HDAO tokens
  • AirBayer will receive 250k HDAO tokens

Media spec:

  1. 300-500 word write up in Featured Collaboration (top section) of Weekly Rollup on 11/26/21 (1000 BANK) (may be written in collaboration with Chris).
  2. HumanDAO included in title block of Weekly Rollup 11/26/21
  3. 300-500 word DAO Spotlight feature in State of the DAOs on December 15, 21 (1000 BANK).
  4. Video feature (Improving lives through crypto) in DAOs at a Glance section of State of the DAOs on December 1 with written summary of content (1000 BANK)
  5. 1000-1500 word Announcement post on Medium of BanklessDAO x HumanDAO collaboration (3000 BANK)
  6. Twitter posts of each of these tagging @humanDAO (1000 BANK)

FINANCIAL IMPLICATIONS

Grants committee to fund Newsletter Team: 7000 Bank

Multisig: 0xe7636c7ef670a3Bcf772D9d57244c9e88aD90437

BRAND USAGE

HumanDAO utilizes Bankless DAO logo assets to market partnership status.
Bankless DAO usage of HumanDAO future developed tools while vesting is active.

HumanDAO usage of Bankless DAO degen bot free POAP distribution while vesting is active.

SUCCESS METRICS OR KPIS

Quorum: 25 Forum Votes

Approval Rate: 71.16%+

NEXT STEPS

Hit Success metrics by Thursday 11/25

Verify funding with Grants committee on their next meeting.

Newsletter project executes on media specs.

  • Approve
  • Deny
  • Needs Revision

0 voters

1 Like
2

Thanks for the revision. Looks like there is good alignment between our DAOs. Hope to make this a successful partnership.

4 Likes
3

I’ve been working with HumanDAO, and see good alignment with these 2 DAOs.

4 Likes
4

Agree on alignment; my concern has to do with budget for media. Video is mentioned but no spec & a budget of 1000 bank. No way any video is getting done for that unless you’re asking for volunteer work. Forgive me if I am misunderstanding the ask.

3 Likes
5

They already have a video, this would basically be included in State of the DAOs newsletter in the DAOs at a Glance section with a written summary, similar to other newsletters.

2 Likes
6

I have nothing against the project itself, my perplexities have a constructive meaning and certainly not destructive

Personally, I remain of my previous opinion and see no interest for BanklessDAO to undertake this operation which I find very expensive in terms of money, brand, identity and time.
I would prefer it to be an initiative supported by individuals who find it suited to their interest and personal growth, I think BDAO is here to help people empower themselves and be able to grow and work in this space.

Obviously I will fully respect the decisions that the community will make, believing that our “collective conscience” must prevail over personal opinions.

5 Likes
7

I believe in the vision of hDAO and its model to help bootstrap people to the middle class through play-to-earn gaming models. P2E models have already successfully lifted people out of poverty in the Philippines:

For more info on similar programs:
https://yieldguild.games

P2E is the future of gaming and it’s a model that can raise up people everywhere. For once, let’s not exploit income disparities in “developing” countries but instead use goods developed in the “west” to help others rise up out of poverty. I fully support this partnership.

As a member of the Newsletter Team, I will help to produce some of the content required under this proposal.

4 Likes
8

The proposal is explained better than the last time and I have great respect for the people willing to start this collaboration.

Nevertheless, I think that it is important to set certain standards to collaborate with BanklessDAO. In my opinion, HumanDAO cannot even be considered a DAO at this stage and I see a lot more advantages for them than for us.

I will of course respect the outcome of the vote and fully sustain the implementation of the proposal in case of positive outcome.

What perhaps could be changed is the request for funding to the GC. I think that these costs should be on HumanDAO (possibly not with their native token). It seems a bit strange to me that while BanklessDAO gets grants from MakerDAO, Yearn, Perpetual Protocol and Balancer in order to produce writings, it should pay to publish information about HumanDAO…

2 Likes
9

HDAO is providing the video, I advised Sid to charge for it’s placement anyway as the allocation to our treasury did not include any for the newsletter project directly, and I wanted to make sure their market rates were satisfied.

@Eagle

The funding from the GC is to ensure the newsletter project receives compensation for achieving the ask that has been discussed, we could arguably use the allocated tokens to do that, but by using bank we achieve an easier understanding of the market rate for the value added to the DAO.

I personally will fund the ask if the GC denies it, but I felt that by asking the GC to fund we could save some snapshot fatigue.

There’s definitely a balance of alignment that needs to be considered for DAO collaboration, and I see this partnership as a step in the direction of achieving our goal of 1 billion bankless. It may be early for HDAO, but all DAOs must have a genesis. Why shouldn’t we be a part of it, when it’s objectives are so close to our own?
We may be giving them more advantages at launch than we are getting, but I see several things here that are more than the direct benefit.

We are establishing a way for aligned communities to be heard in a community where they might otherwise be drowned out, and in return being exposed to the upside of those communities as a DAO.
It’s in my opinion superior to a token swap in some ways, because we are leveraging our most valuable capital, the social.
Alignment is always a concern in those situations, and by HDAO choosing a BanklessDAO member as a multisig representative (myself) I see a dedicated effort to make sure that our ethos permeates their culture from the beginning.

At the end of the day, this proposal definitely has room for improvement, and in future partnerships I expect those lessons to compound, but this seems to me like one of our more powerful mechanisms to effect social change.

4 Likes
10

Thanks for the proposal. Let’s call it what it is. HDAO is a p2e guild DAO (with the aim to be more than that in the future). By accepting a 0.5% stake (vested over 2 years) in the DAO, we are agreeing to provide marketing and creating a deeper partnership by virtue of our investment.

There is many gaming guild DAOs out there, they all have the same goals. I would like to know why we are choosing this one. What traction does hDAO have atm? Not just discrod members but ppl already lending / borrowing gaming assets through them, revenues generated, etc? I’m all in favour of partnerships but agreed with the above - bDAO should maintain a high standard of selectivity and pick the right partners because it affects our brand. At current, I haven’t seen enough information to convince me hDAO is ready for such a partnership. The alternative would be for them to pay for marketing, observe and watch for traction and alignment, and consider deeper partnership down the line.

4 Likes
11

I definitely agree with some of the points here.

However, we need to consider the size of our partners relative to us.

  1. Large partners:
    Like yearn, balancer, obviously should help us with direct funding.

  2. Equal partners:
    We can barter tokens and equal goods.

  3. Small / Startup partners:
    ???

For example in this case, we don’t want to be seen as a bully asking for something that our partner cannot give. What we can buy in right now is a story, some tokens as collateral, and a hope that both our DAOs will grow together.

We had a similar problem with other crypto organisations as well. And I must say, that this proposal is definitely more refined.

2 Likes
12

Congrats @AyrtonB26 @siddhearta @Chris2pherChase @AboveAverageJoe for establishing this partnership, butting out this proposal.

I read the first version and now this version, i’m hoping you could ELI5:

  1. How does BanklessDAO benefit from receiving 5 million HDAO tokens?

Does the squad foresee HDAO tokens appreciating in value through the P2E mechanics where they take a percentage of tokens earned?

Is HDAO plugged into Axie Infinity itself? Or some other P2E game?

  1. Does a 48 months vesting schedule imply that we’re “locked in” with HumanDAO for 4 years?

Considering that 4 years ago (2017) the world was completely different, so i’m wondering if the team has debated the time-period and whether we could shorten?

Or alternatively, is there a benefit to 48 months schedule that maybe i’m missing?

Thanks to the squad for your effort on this! :pray:

2 Likes
13

I appreciate this revised forum post. I was all for it with the first post, but this additional info gives me better perspective. I personally think this potential partnership absolutely aligns with our mission to help 1 billion people go Bankless. I think a huge component of the Bankless lifestyle is having alternative revenue streams so a person doesn’t have to work at some job. Having that freedom would require access to capital that most don’t have. This could help us bridge the income gap between the “haves” and the “have nots.”

I also think that this could be lucrative for the DAO if we staked the hDAO tokens we receive. Looking at their documentation, there will be staking vaults that could earn some of the revenue generated from lending NFTs to people. Not only are we helping raise people out of poverty, we will also be helping our treasury.

3 Likes
14

This is big progress for BanklessDAO, so I voted “YES”, I hope that this project will receive good news！

3 Likes
15

I agree that in a narrow sense you could call hDAO a gaming guild (although a flatter version compared to other gaming guilds). Gaming guilds are revolutionizing the P2E gaming space. That’s a great compliment - thank you!

But in a broader sense hDAO is different. Not all gaming guilds have the goal of helping to build a middle class across the globe and moving us all towards a more equal and inclusive world. That’s one thing that makes hDAO unique.

I agree with you that hDAO is still building up their presence and brand, that they are fighting to gain traction. And I agree with you that maintaining and building the BanklessDAO brand is important. But I don’t agree that helping out a new DAO with an aligned but different mission somehow tarnishes the bDAO brand - quite the opposite. Promoting P2E in developing countries furthers bDAO’s 1B going bankless mission and supporting hDAO demonstrates that we fight for diversity, inclusion, and equality - and that we help new but aligned DAOs gain traction within our ecosystem. That we are seen as a partner for growing DOAs enhances our mission, not diminishes it.

3 Likes
16

Cool. What if we hand out scholarships, like copy some of the Human DAO subguilds and create a Bankless DAO axie-inifinity clan? “Rent out these tokens” as part of BanklessDAO membership?

Is that possible?

2 Likes
17

They do already have an internal grants/scholarship program where members of hDAO who participate and learn and contribute can be granted the funds to be able to dive fully into the space.

1 Like
18

Oh what i mean is these tokens are “vested” in our DAO, means we cannot sell it, we cannot yield farm with it. But can we like “delegate” them to hand out scholarships too?

1 Like
19

I can see the value in this as a mechanism for onboarding disadvantaged humans into crypto, which seems to align with the bDAO mission. While there may be some short term costs to bDAO, the potential benefits, both to bDAO and to the greater population, far outweigh them, in my opinion.

1 Like
20

I genuinely support bDAO to help build other DAOs. As for this collaboration with HumanDAO, I think the endorsement from bDAO is significant, so having proper due diligence and disclosure is necessary.

It would be helpful for our community to make votes if this proposal can provide more background information of the founding members, besides Above Average Joe and other bDAO members whom the community is already familiar with. For instance, I tried to search Christopher Chase to better understand his background, but it seems not much is available on the web, including chainhaven.com. I’m here not to throw any doubts about him but just think we need more information to make a decision.

Furthermore, it would also be helpful if we can understand how the decision-making mechanism for HumanDAO works and who are the stakeholders/investors if any before bDAO starts this exciting collaboration.

Again, I really want to support this type of collaboration if given more information, while I also hope bDAO can avoid obstacles or potholes down the road.