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Explain in detail the business model of BanklessDAO, a debanked financial system

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Many hands make light work.

Faith is Power: The BanklessDAO Business Model of a Debanked Financial System

Original author: Old Yuppie

Bankless, founded in 2019, initially tracked and released briefings on the dynamics of the crypto industry, and soon became a media platform with certain influence in the crypto community, keeping up with hot topics, real-time reporting, comprehensive information, and numerous popular articles.

In 2021, Bankless LLC, a registered entity, was officially operated as a company structure and realized profits. In addition to founding Bankless Meme, it has developed several valuable media properties, including Bankless Newsletter, Podcast, and YouTube.

If you go back and look at Bankless's press coverage now, you'll see a lot of industry observations that are somewhat insightful, with the crypto industry's wealth coded between the lines.

Knowing Bankless, let's take a look at what Bankless DAO is.

BanklessDAO was officially launched on May 4, 2021 to promote coverage, culture and knowledge of the Bankless movement. BanklessDAO's goal is to promote the mass adoption and social consensus of truly debanding financial systems, including bitcoin, Ethereum, and decentralized finance.

In short, BanklessDAO is the organization behind the Bankless brand. Bankless DAO is a typical decentralized autonomous organization that operates independently of Bankless media. The Bankless DAO community aims to create an onramp for everyone to explore decentralized finance and technology.

Values and Vision

Integrity: Operate transparently and build trust through full open discussion and financial audits.

Decentralized governance: Putting decision-making power in collective hands. Governance decisions are made through the wisdom of the masses.

Cultural openness: Through self-governing organizations, communities can constantly promote new initiatives and implement them quickly.

BanklessDAO seeks to be a trusted community empowering people around the world to participate in decentralized finance by sharing accurate, truthful and objective information.

BANK Token

BANK Token 是BanklessDAO的原生社区治理 Token ，具体用来协调一切DAO的活动和分发给活跃的社区成员们。

One billion members, one billion banks.

Bankless目标是吸引十亿会员，因而创造了十亿个$BANK Token 。

BANK Token 本身是没有价值的，其代表的只是成员对社区的贡献和参与程度而已。BANK没有被销售，背后也没有投资人，只有参与社区活动的成员才能得到这BANK，并且，参与社区活动是获得BANK的唯一方法。Bankless Dao通过投票来决定怎样才算“参与社区活动”。

On May 4, 2021, those members who have already participated in the Bankless community received a retroactive BANK allocation as follows:

· 30% -- members who have participated in community activities

· 30% -- Community coffers

· 40% -- given to community coffers as 3-year option linear release

On May 4th last year, BanklessDAO's first proposal proposed to modify the above BANK allocation by giving 25% of the allocation from the original community Treasury to Bankless LLC (the entity of Bankless, which owns the Bankless HQ brand) as an option. This means that the revised distribution is as follows:

截至2021年5月7日的BANK Token 发行情况

Operation mechanism

Bankless's Discord has tens of thousands of members organizing themselves into more than a dozen unions in different directions, whether motivated by the idea of decentralization or the desire to invest money. There are writing guilds, education guilds, development guilds, and law guilds, each with its own members and different specialties and responsibilities.

In Bankless DAO, labor union is clearly defined as a talent reserve pool, and it does not divide labor for people. Except for the union's own coordinators, the rest are in a state of waiting for a call.

Theoretically, the ultimate goal of all trade unions is to promote the development of DAO. The ways and processes of all trade unions are different, but the goal is the same. Some generated projects have enough consensus to change from IDEA to Action. Bankless DAO coordinated the operation of the whole DAO and managed the output through Season Plan, labor union, project and other mechanisms.

In order to become a member of a union with a certain voice, one must gain recognition by being active. Different labor unions have different work operation structures. For example, if the old Yuppie joins the R&D union, he can vote on the project budget within the union. For example, he can ask the organization to find a member of the legal union to help me review the work.

A screenshot of a user on Twitter

Discussions gather in Discord, where members can communicate in a number of Spaces on different topics. Some topics hold regular voice meetings. Threads, conclusions and work items are put into Notion, which is maintained by everyone to keep track of their work. Yuppie has attended one or two meetings in his spare time, any member can participate in any union discussion or voice conference, and almost all work documents and meeting minutes are open.

A screenshot of a user on Twitter

As long as you are willing, you can personally involved in the organization construction, for the members, this is a good opportunity for fulfilling their, after all, even if no one in 13 of the trade union in accordance with your expertise, you can also to the secretary, liaison, recording, or even just a dozen soy sauce's critics to participate in the organization in any part of the decision to explore. This is definitely a way for members to increase productivity and work passion.

conclusion

Reading this, you should have a feeling that among the many DAOs introduced by Old Yuppie, Bankless DAO seems to be somewhat different.

The Bankless DAO is a classic example of how people learn about blockchain in order not to get cut off, enter the cryptocurrency community in order to cut off others' leeks, and end up staying because of a vibrant community.

If you go to BanklessDAO's website, you'll see that it has become one of the strongest communities in the crypto world. It was established with the goal of promoting the adoption and awareness of truly bankeless currency systems such as Ethereum, DeFi and BTC, using the collective participation of the community to achieve this goal.

By every measure, Bankless DAO is one of the best in the old-yuppie community to join. There are a lot of people out there, people who are doing things, people who are thinking, people who are just like you in the world, maybe your friends and colleagues, who are working together to create a new world in the World of Web3.