This post is to kick off a discussion of our tokenomics of $BANK and the BanklessDAO🏴.
The DAO’s Mission:
Onboard 1.5 Billion people to bankless ideas.
The DAO’s assets as I know it:
- We have a large amount of $BANK
- We have on chain revenue in the form of merch purchases - $Robot and ??
In service of that mission, we have the challenge of projects and work to be done, but with no assets to pay for that but our own. We also have a lot of volunteers and core contributors that need to be compensated for their time and work, both in the short and long term.
We have the opportunity with $BANK to drive its use and valuation in service of supporting the overall goal of the DAO.
This enables the DAO to have an asset(without investing) that can be used to fund projects/guilds for effort the DAO needs(both maintenance and major initiatives), as well as contribute to internal DAO economics.
Internal economics could be:
- Paying core team members for their efforts
- Paying for work done by Guilds and their squads
- Internal DAO markets and trade
- Bounties - Tip bot!
Externally driving the valuation and use of $BANK would allow it’s adoption and use in the overall defi ecosystem, with it potentially being a financial instrument to be staked, both in the DAO and at different locations, used as collateral, etc.
We could drive valuation with options like:
Stake $BANK to get lvl2 - This creates Opportunities like:
- Get $Less, which also grants yield in the form of percentages of revenue(as $BANK?, Eth?, Different token?)
- I’ve seen discussion of membership fees and that staking could cover those.
Require $BANK to purchase Bankless educational products, or passes.
- Onboard, or others?
Have Merch exclusives that can only be purchased with $BANK.
- Regular Merch can be bought in any way.
Sky is the limit.
With $BANK as money, the DAO as an organization has the challenges of both a startup and an emerging digital nationstate in that we have to find and create revenue streams and manage costs, as well as drive the use and acceptance of our denomination both internally and externally.
This post is to kick up discussion and to be explicit about the idea that the DAO will treat $BANK is both a monetary asset and a governance token to be used to fund and vote. Some DAO’s treat their governance token as ONLY that, and actively drive down it’s valuation.
I would love to hear what everyone thinks.
- $BANK is a financial asset AND governance token
- $BANK should only be a governance token
- Something else - Explained below