Title: Media Node Onboarding Model
Read the proposal: Media Nodes Protocol - Google Docs
Co-authors: MrPackman#4019, Fabian Klauder#9773
- This is a proposal for how the Bankless DAO can interact with media nodes. It includes
- A method for submitting applications and leads
- A verification process
- Benefits the DAO provides the media node
- Benefits the media node provides the DAO
- A mechanism to hold media nodes accountable to being good citizens in the bankless movement
- Those media nodes will help spread the bankless message by
- Providing unique perspectives and expertise
- Tapping into new audience
- Helping the bankless movement gain credibility by adding new logos
- Increasing the value of BANK via staking
- Bankless DAO will help media nodes
- Provide yield on staked BANK
- Promoting the media node via the bankless.community website
- Promoting the media node and media node content via substack, newsletters, etc.
- Promotion within the Bankless DAO
- At a societal level very few people are familiar with the bankless movement and how blockchain technology and ethereum can change society.
- Growing the bankless movement will require onboarding media nodes into the bankless ecosystem to help spread the message to people that aren’t already aware of the movement and looking for ways to learn more and participate.
- Also, Ryan Sean Adam’s asked for a model to be developed to onboard new media nodes.
Media Node Applies or a Bankless DAO member submits a lead
- Media nodes submit an application
- The application is added to the database of media nodes requiring verification
- A Champion is assigned to the media node with the responsibility of validating and facilitating onboarding the media node.
- Verification includes
- Is the node a legitimate media source?
- Is the node trustworthy?
- Does the media nodes values align with those of the bankless movement?
- Does the node produce content that would further the bankless movement?
- Is there a free way to view the node’s content?
- The Bankless DAO should not be used by nodes as a way to drive traffic to a paid service. It’s okay if there’s an ancillary paid service, as long as there is relevant free content available as well. For example, Bankless LLC has a premium service, but there is also value available for free.
- Does the media node have a sufficient audience?
- The target is TBD monthly reach
- Verification includes
If the media node fails verification
- The Champion updates the media node status to Rejected in the application tracker.
- The Champion will inform the applicant (directly submitted) or Discoverer (if lead from a DAO member) the application was not accepted along with the reason why.
- The process ends here.
If the media node passes verification
- The Champion updates the media node status to Verified in the application tracker.
- The Champion informs the media node they’ve been verified and onboarding will start once TBD BANK has been staked on bankless.community
Once the media node has staked TBD BANK
- The Champion updates the media node status to Onboarding In Progres in the application tracker.
- The bankless.community team adds the media node to the “Media Nodes” section of the bankless.community website
- Substack Writers and Research Analysts begin to include the media node in their writing and research (as it makes sense).
- The Champion updates the media node status to Onboarding Complete in the application tracker.
If the media node stake drops below TBD BANK
- The Champion updates the media node status to Removed in the application tracker.
- The Champion informs the Media Node they are being removed from the network until they have TBD BANK staked again.
- The bankless.community team removes the media node to the “Media Nodes” section of the bankless.community website
- Substack Writers and Research Analysts stop including the media node in their writing and research (as it makes sense).
If the media note violates the terms and conditions
- A Bankless DAO member raises concerns and provides example(s) of the bad behavior.
- The DAO votes on if the violation should result in slashing. A quorum of TBD percent of BANK must vote and at least TBD percent must vote in favor for the slashing to take place. If the DAO votes to slash…
- The Champion informs the media node they’ve been slashed and why they’ve been slashed.
- 25% of the media nodes stake is transferred to the DAO treasury.
- If this drops the media node below the required staking amount, they would go into the “If the media node stake drops below TBD BANK” flow
- Define a process for assigning a Champion to pending applications
- Add a section to the bankless.community website to share media nodes
- Develop a method for media nodes to stake BANK and funding from the DAO treasury to pay yield.
- Develop a method to punish bad behavior of media nodes via slashing
- Confirm the verification criteria and terms & conditions (which might be the same thing)
- Determine how to make paying yield on staked BANK sustainable long term
- The proposal defines a process for collecting, verifying and onboarding new media nodes, benefits for the media node, and benefit for the DAO. It also describes a mechanism (staking and slashing) to hold media nodes accountable for living the bankless values.
- Adding media nodes to the bankless ecosystem will be critical for growing the bankless movement and reaching a diverse audience.
- Also, Ryan Sean Adam said we should do this
- Method for media nodes to apply to DAO members to submit leads
- Provides a method of verifying media nodes are a good fit for the bankless ecosystem
- Creates value for the media node and the DAO
- Requires the media node to have skin in the game via staking
- Provides a way for the DAO to hold media nodes accountable for bad behavior.
- Requires manual work to onboard and verify new media nodes
- Requires funding from the treasury to pay yield on staked BANK
- There’s no solution for validating reach
- May require a DAO vote for certain activities (e.g., verification or slashing)
- I am a Release Manager at a multi-billion dollar CRM company. I have experience designing processes, holding people and teams accountable that I have no authority over, and managing complex projects and initiatives with many stakeholders and different opinions.
- I am creating this proposal because it seems like a critical need for the DAO and I’d like to contribute where I can and start to build my credentials in the bankless community.
- I’m the co-founder of a popular DeFi education platform featuring a podcast, newsletter, and more.
- We are considering joining the BanklessDAO as a media node. So I helped to create this proposal from the perspective of a media node representative.
- Professionally I am a product owner and have experience in organizing and driving teams towards the desired goal. Typically handle multiple projects and teams at a time with a focus on e-commerce and customer portals.
- Turns out I am very new to the crypto space yet here I am because I want to learn and create change towards a positive impact. Helping in a small way with this proposal is just one small step towards that goal.