WeavrDAO x BanklessDAO Partnership Proposal [DRAFT]

Group 1

Title: WeavrDAO x BanklessDAO Partnership Proposal
Author: senad.eth :black_flag:#8782
Squad: WeavrDAO
Date created: Sept 1st, 2022
Date posted: Oct 27th, 2022

TL;DR

  • This proposal aims to introduce WeavrDAO and the weavr protocol to the BanklessDAO community and the chance to participate in the crowdfunding of the first needle (tokenized property on the weavr platform).
  • Verified BanklessDAO individuals are allowed to participate in the needle and will receive $THREAD tokens for every $USDC invested in the needle.

Links & Resources

Boston Real Estate Propsectus
The Property - 116 Englewood Ave, Apt 34, Boston MA
WeavrDAO Website - pw: WEAVR2022
Weavr Gitbook
WeavrDAO Discord
Weavr On-Chain Voting & Ratification

DEFINITIONS

WEAV

WEAV is the native governance token of Weavr. The WEAV token is a smart contract registered on the Arbitrum (arb) Ethereum Layer 2 blockchain. It follows the ERC-20 standard and is compatible with majority of wallets and exchanges currently supporting Ethereum-based cryptocurrencies.

Needles

A component of the Protocol that enables the purchase of an asset by the Governor corporation through crowdfunding as well as conducting movements of capital from the token holders to the Governor corporation. Imagine an individual brought a project idea to our platform to collaborate with others and bring it to reality. Weavr allows them to create a needle proposal with all the details of your idea for other investors to come and co-build. Then Weavr will facilitate the execution of the project to become a thread. A Needle dissolves after transitioning into a Thread.

Threads

Threads are properties cataloged in our club for which investors can buy fractions starting at $1USDC. A Thread is an on-chain governance system for the Governor corporation that legally owns the Thread property. Thread governance is based on Thread tokens and it is structured as a sub-DAO within the Weavr. Every thread is a DAO itself, a community where all individuals have voice and the right to vote. To ensure the growth on property value, we conduct a KYC/KYB that unlocks token-holders right to vote. All default votes and restrictions are design to comply with law and create a thriving system for the community. The owner of the property will be retaining 40% of their ownership, with voting power capped at 10% per person to provide whale protection.

Thread tokens

Thread tokens are ERC-20 tokens created by an indivisible smart contract on the Ethereum blockchain. Since the tokens are indivisible and impossible to replicate, they are the perfect medium for individual intellectual property tracing. These fractional tokens give each holder a percentage of property ownership that can be traded or exchanged on secondary markets.

BACKGROUND

About BanklessDAO
The BanklessDAO is a decentralized autonomous organization that acts as a steward of the Bankless Movement, progressing the world towards a future of greater freedom. BanklessDAO is a community of passionate Web3 thought-leaders who aim to educate new users, produce written and audio media, build DAO tooling, provide research & consulting services, develop Web3 scholarship, and create a social and creative home base for anyone in Web3. BanklessDAO is much more than a social DAO—it’s shipping, building, and innovating DAO.

About WeavrDAO
WeavrDAO is private members club and a decentralised platform for fractional Real Estate ownership. A market where people can participate in tokenized real estate starting at $1. The WeavrDAO operates as a DAO and by being a decentralized organization, the WeavrDAO allows individuals from all over the world to join, participate, and build on top of the organization. There are no geographical or economic entrance barriers to the WeavrDAOs potential to grow.

MISSION & VALUES ALIGNMENT

WeavrDAOs’ mission is to bring real estate cash flows and equity appreciation to individuals all over the world. Projects like Bankless Brazil or Bankless Africa could benefit tremendously by getting exposure to real estate that is perhaps not available in their areas or strongly controlled by the government. There is a possibility of a lease to own framework that allows “unbanked” mortgage-like instruments to encourage ownership. WeavrDAO helps the world go more Bankless by offering individuals the opportunity to own an asset that most of us can’t afford without having a bank as middleman - real estate!

SPECIFICATION

What WeavrDAO offers:
Options that contain WEAV to BanklessDAO individuals that participate in a needle:

  1. If the needle doesn’t hit the funding target of $270,000,- USDC, all individuals that have participated in the needle will be refunded.
  2. If the needle hits the funding target of $270,000,- USDC, Thread tokens will be distributed according to the funding amount invested by individuals. The BanklessDAO Treasury will receive 20 WEAV tokens for each Thread token held by a BanklessDAO individual’s wallet, if the Thread tokens are held for more than 6 months in the same wallet that was used for verification.
  3. Entities that have invested more than $100,000 USDC will receive 40 WEAV tokens for each Thread token in their wallet, if the Thread tokens are held for more than 6 months in the same wallet that was used for verification.

What WeavrDAO requests in exchange:

  • Leveraging BanklessDAO marketing and education arms:
  1. External marketing campaign conducted by marketing guild.
  2. AMA w/founders or team leads of WeavrDAO.
  • We need high quality governors to manage properties on our platform and we consider BanklessDAO members to be qualified.
  • We need properties to be bought/sold and managed on our platform. What’s in your backyard?
  • We need proactive proposal writers, who can write Thread proposals and engage governors & $THREAD token holders to participate in governance decisions.

STIPULATIONS

  • Thread will be held by BanklessDAO for 6 months.
    • Sale of tokens: Following the six-month period, BanklessDAO has the right to sell the token on respective markets.
  • Communications around the partnership:
    • To ensure operational effectiveness, a bi-monthly call may be set up by at least one representative of each organization.

RISKS

  • The WEAV token could become worthless if WeavrDAO fails to create and retain value.
  • The maximum loss would be each investor’s proportional interest in the funding target.

SUCCESS METRICS OR KPIS

  • Hit the crowdfunding target of needle.
  • Successful conducted marketing & education campaigns.

How do you feel about this partnership?

  • LFG! I want to participate in the needle and will reach out to senad.eth :black_flag:#8782.
  • I want to help with follow-up proposals and get involved.
  • I have concerns about this partnership and will comment why.

0 voters

2 Likes

What WeavrDAO requests in exchange:

  • Leveraging BanklessDAO marketing and education arms:
  1. External marketing campaign conducted by marketing guild.
  2. AMA w/founders or team leads of WeavrDAO.
  • We need high quality governors to manage properties on our platform and we consider BanklessDAO members to be qualified.
  • We need properties to be bought/sold and managed on our platform. What’s in your backyard?
  • We need proactive proposal writers, who can write $THREAD proposals and engage governors & $THREAD token holders to participate in governance decisions.

This is asking us to spend money (labor) to do marketing, education and governance. Where does that money come from?

And we are receiving… an opportunity to spend more money?

What WeavrDAO offers:
Options that contain WEAV to BanklessDAO individuals that participate in a needle:

  1. If the needle doesn’t hit the funding target of $270,000,- USDC, all individuals that have participated in the needle will be refunded.
  2. If the needle hits the funding target of $270,000,- USDC, $THREAD tokens will be distributed to the BanklessDAO treasury according to the funding amount invested by individuals. The BanklessDAO Treasury will receive 20 WEAV tokens for each $THREAD token held by a BanklessDAO individual’s wallet, if the $THREAD tokens are held for more than 6 months in the same wallet that was used for verification.
  3. Entities that have invested more than $100,000 USDC will receive 40 WEAV tokens for each $THREAD token in their wallet, if the $THREAD tokens are held for more than 6 months in the same wallet that was used for verification.

Not in favor of this without financial commitment from them to reimburse us for our time 𝘸𝘌 𝘗𝘢𝘠 𝘐𝘯 𝘦𝘟𝘱𝘖𝘴𝘜𝘳𝘌 is not a quality incentive for us.

4 Likes

Hey Nerd, thanks for your comments! Much appreciated. Let me address them:

I used the term request as “wish”. bDAO doesn’t have to conduct a marketing campaign and/or AMA advertise and educate about WeavrDAO, the crowdfunding of the property or the technology behind it. As I’ve stated in a post in dao-general, I believe there’s an opportunity for both organizations to leverage their strengths in order to become stronger. Also, if BanklessDAO has exposure to something, it could make sense to educate more members on it and advertise it to create visibility - isn’t furthering the mission of discovering decentralized financial technologies and strengthening internal economies through external collaborations on of our missions?

I hear you, though WeavrDAO is not allowed and won’t conduct reimbursements to individuals who’ve participated in the needle. That being said, one can get reimbursed by BanklessDAO, that’s up to our community to decide.

I read that BanklessDAO might get WEAV in exchange for labour, exposure, and a captive market. To be honest it seems like a deal tilted way in favour of WeavrDAO.

The thing that would tip the scales a bit is to understand what WeavrDAO is bringing to the table. I see a website and gov docs, but what have you accomplished in terms of output towards on-chain real estate? What differentiates you from all of the other DAOs doing on-chain real estate?

If WeavrDAO had some competitive advantage, I might change my vote. As it stands I am not in favour.

3 Likes

Interesting proposal. I agree to the general sentiment shared in the comments above about bDAO having to spend BANK but weavr does not spend the equivalent in native tokens or stables unless some milestone is reached. I would like to see a more balanced value spend from both sides

Happy to spin up a DAOstewards stream if we can have specific governance mining incentives agreed upon.

1 Like

Could you possibly just turn this into a possible sponsorship ask?

Weavr Pay X amount of USDC for marketing, skip the whole needle participation?

Real Estate in the US is a tricky beast right now. I worry that there’s a fairly high chance of this failing (versus mid 2023 where values might make a bit more sense)

I’ve seen initiatives like this happen where I live in MI. Not with crypto, but with “community reinvestment”They usually have community feedback battles.

If you were to add an educational aspect (the unbanked to bankless is very smart!) with the community having a chance to have investment in this property as well, gangbusters!

And more interested and working people on bankless who would LOVE to not have to drive to work with astronomical gas prices.

This could be versus a private membership coming in, owning a house, not doing much with the house (because as an owner it makes you look real bad if your tenant is a bum) and the community is left out. (Lawsuits, bad publicity for bankless, bad publicity for weavr, bad for crypto)

I feel like the partnership idea could be pretty awesome. But the way it’s presented (I read the docs, I think you did the best you could with the proposal). Weavr’s idea doesn’t seem fully fleshed out yet.

Now only vaguely sure about Boston real estate… but depending on where you are precisely, and taking a stab at that amount… I’m thinking there could be a community battle arising.

So I’m against this proposal for now, but I would say if there was a more complete round 2 of the proposal (turn it into a fancy marketing campaign of owning real estate and being apart of an educational community with job opportunities…). Then you’ve got an idea!

1 Like

Hey links,
thanks for your comment. Let me address your concerns/questions:

WeavrDAO is not allowed to & won’t ever reward individuals with WEAV for participation in needles. There are limitations & specific regulatory requirements to take into account here, this is really not a personal preference. What WeavrDAO is allowed to do though is to reward the BanklessDAO treasury with WEAV, if BanklessDAO members don’t dump their Thread tokens on the secondary market in the first six months. I hope this helps understand it better.

We are just getting started and have recently launched. A property owner is about create a proposal with the motion to tokenise the first property on our platform. This marks the first needle on Weavr. We have more properties on the sideline, locked on our platform and ready to get tokenised after the first successful needle.

Thanks for this question! Allow me to explain:

Weavr allows for fractional investments, co-managing properties on-chain, the creation of a secondary market and provides the infrastructure for global access to real estate at the same time. We aren’t geographically limited. The property which turns into the first needle on Weavr is located in Boston, the second property locked on our platform and ready to get tokenised is a hotel in Mexico. We worked extensively to ensure that the systems we set in place are legally compliant and protect all participants on Weavr. We believe that only Weavr takes down all the barriers to access the real estate market and only our platform makes fractional ownership sovereign.

Thank you all very much for your comments. @iSpeakNerd @links @Jengajojo @homie

I’m taking all of your feedback into account and will get back to Weavr to bring a reworked proposal. I changed the proposal title to WeavrDAO x BanklessDAO Partnership Proposal [DRAFT] to highlight that there will be a follow-up improved proposal.

2 Likes

Good work on the initial proposal @senad.eth and great feedback / suggestions in the thread. Did spend some time in WeavrDAO server and think the team is building something special. After you come back with the revised proposal, and depending on how the consensus builds up, I would be happy to assist on the marketing front if a collaboration works out.

1 Like