Progress | BanklessDAO Weekly Rollup

Catch Up With What Happened This Week in BanklessDAO

Dear Bankless Nation 🏴,

The Snapshot election for the Transition Council Authority ended on Friday, and we’re excited to congratulate the Transition Council on gaining BANK-holder ratification. This is a big step forward in our restructuring journey. With the TC now empowered to prioritize community-driven changes, it can sort out important pending issues, such as refining membership models, tokenomics, and other essentials.

Another Snapshot vote went live yesterday, proposing to use treasury yield to fund in-person events. The plan involves depositing 55,000 USDC and 20 WETH of unused treasury assets into no-loss PoolTogether v5 pools, which the DAO can withdraw at any time, keeping the funds risk-free. The yield generated will support community events. Find out more information on the Black Flag Initiative website. Voting is open until November 8, so head to Snapshot and cast your vote.

This week’s issue discusses the successful ratification of the Transition Council’s authority and examines key membership processes, including proposed onboarding and engagement metrics. It also highlights the new Black Flag DAO initiative, what to expect, and other important insights.

With the TC guiding community decisions, the path to bringing our shared vision to life is clearer than ever. However, this doesn’t mean we should stay silent. Our voices and participation are important as we move forward. So, let’s stay active, keep sharing our perspectives, and plant the black flag together.

Contributors: Lucent, Tonytad, Angelspeaks, Boluwatife, Kornekt, WinVerse

This is an official newsletter of BanklessDAO. Please subscribe and share to help us grow our audience as we fulfill our mission to build user-friendly crypto onramps.

[subscribe button]

[share button]

🏃‍♀️ Catch up: Listen to this week's Community Call recording.