Bankless DAO (2024)

13/01/2022

Decentralized Arts #21: BanklessDAO Artist Showcase & Super Bowl Rumors

BanklessDAO Weekly Cryptoart and Newsletter

Dear Bankless Nation,

This week we talk about ART from our home, about the cryptoartists of BanklessDAO. In recent months, BanklessDAO has exhibited innovation on many fronts: a continuous evolution in governance; redefining values; and changes in the composition of the community. BanklessDAO has partnered with other DAOs, created projects, created educational programs, and produced a lot of content.

BanklessDAO has been the place of information and growth for many artists, some of which are featured in the weekly Showcase. Now, thanks to collaboration with the brilliant Design Guild, Decentralized Arts will present the profile and works of many other BanklessDAO cryptoartists, creating a new virtuous process of creation and distribution of beauty and value.

Welcome to Decentralized Arts.

Authors: BanklessDAO Writers Guild (Grendel, Kouros, NFThinker, nonsensetwice)

Curated NFT News
Pudgy Penguins Community Kicks Out Founders After Cash Grabbing Accusations
The Pudgy Penguins community is making major changes. The project voted out its founders on Thursday after the founders failed to deliver on goals and drained the treasury of funds. While the management team is trying to sell the project to a new owner, some in the community believe the project should be run as a DAO and should therefore be handed to the token holders.

NFT influencer has been in touch with the management team to buy the project. However, talks turned sour as the greediness of the Pudgy Penguins founders was exposed. This thread explains all, alleging that the founders were looking to sell the project after splitting all profits between them.

The community took to the Discord server to express their anger at the management team. This led to Cole, one of the founders, to put up a poll asking the community if they wanted to remove him from the team. The community overwhelmingly voted in favour to oust him.

There have been other NFT influencers publicly making offers to buy the Pudgy Penguins, such as Beanie, Luca Netz or Zachh Burkes.

So far, all is speculation, and we await an outcome to end these sour events with the best possible result for the community. But one thing is clear: Cole’s reputation, and that of the other three co-founders of Pudgy Penguins, will be damaged in this space where reputation is key.

To their defense, they have stated that they are young and inexperienced in running a business.

At least the floor price for the Penguins has been picking up after the news was released that the management team will be replaced.

Castlevania NFTs Announced for the game’s 35th Anniversary
Japanese video game company Konami has revealed that it will be releasing NFTs of its Castlevania series to mark the 35th anniversary of the game. Castlevania is a gothic horror action-adventure video game series and media franchise about vampire hunters. The 14 animated NFTs feature game scenes, music and some other visuals inspired by the series.

The collection is going on auction on January 12th on OpenSea and it will end on January 15 at 6pm PST.

Read More here..
https://banklessdao.substack.com/p/decentralized-arts-21-banklessdao?r=elwu6&utm_campaign=post&utm_medium=web

BanklessDAO Weekly Cryptoart and NFT Newsletter

13/01/2022

Wyoming Opens its Doors to DAOs
The Cowboy State Sets Sights on Digital Frontier

Sean Cullen

Wyoming’s Secretary of State is turning heads after adding the option for to register as LLCs, paving the way for Web3 in the Cowboy State. While most government websites have a tenuous grasp on traditional web capabilities, and are rife with antiquated and confusing UX designs, Wyoming’s state government is blazing the trail by preparing itself for a new digital revolution.

Wyoming has gained widespread attention in recent months after becoming the first state to legally recognize DAOs in an unprecedented piece of legislation. The move by the Cowboy State may come as a surprise to outsiders, though it is far from the state’s first move in the transition to a more blockchain-friendly space. Wyoming has introduced a number of bills in recent years aimed at luring blockchain-based businesses to the state. The recent legislation will drive critical discussions regarding the United States’ adoption of cryptocurrencies and Web3, which has become a heated debate in recent years within the halls of Congress.

What are DAOs?
DAOs are the Web3 alternative to traditional, corporate organizations. DAOs allow individuals to work towards a common goal, with payment for services rendered guaranteed by smart contracts. This removes dependence upon fallible individuals or groups, such as executives or board members. By removing traditional corporate hierarchies, control is given to the users via governance tokens.

Governance tokens provide members far more power over their workplace than employees of traditional organizations. Governance tokens are purchased or awarded for participation and allow individuals to vote on a variety of issues, including projects they wish the DAO to take part in and how they wish the DAO to operate.

DAOs offer a solution to the pitfalls of the often predatory corporate workplace, where pay is often not commensurate with the labor provided and employees have little to no control over the company ethos and trajectory.

Importance of Registering DAOs
The move by Wyoming allows DAOs to be recognized as legal entities, which can result in tax benefits and liability protection for members of the givenDAO. DAOs have proven challenging to define within the U.S. legal system since their inception. This legal ambiguity has led to liability questions in instances such as the infamous hack of ‘The DAO’ in 2016.

Unlike traditional companies, DAOs have no centralized authority so it’s difficult to pinpoint where blame should lie when something goes wrong. Without the recognition of DAOs as unique legal entities, any investor runs the risk of being held liable should something go wrong with a project they joined or invested in, regardless of how active they were or the size of their stake. The Wyoming legislation frees DAOs and their investors from partnership principles, which hold all parties liable, by allowing them to register as Limited Liability Companies. The change could negate investor skepticism and lead to an increase in blockchain investments as the perceived threat by adverse parties is lowered by the protections of LLCs.

Some individuals worry registering under the Wyoming law may cause DAOs to spark the interest of federal bodies such as the SEC or CFTC. The news is most enticing to blockchain companies with ties to traditional finance. American CryptoFed, LLC, is the first DAO to be registered with the state. Their mission is to create a monetary system without inflation and deflation. This goal is only made possible by the bridge between traditional finance and cryptocurrency that Wyoming has provided.

Why Does Wyoming Care About DAOs?
It may seem unexpected that Wyoming is the first state to champion the cause of blockchain technology, but state legislators have long been welcoming to cryptocurrencies. The state first began encouraging the industry in 2018 after recognizing cryptocurrency in commercial trade.

Much of the push to integrate blockchain technologies in the state has come from former and current residents rather than legislators. Former state capitol mayor and CEO of American CryptoFed, Marian Orr, and financial executive and early bitcoin adopter, Caitlin Long, are two such residents. Long championed the cause of blockchain technology for the state after being unable to set up a scholarship using Bitcoin at her alma mater, the University of Wyoming.

Frustrated with the lack of adoption in her home state, Long left her Wall Street position in 2016 and began volunteering at the Wyoming Blockchain Taskforce to help provide the legal framework to allow commercial cryptocurrency exchange within the state. Through the legislation put forth by the task force, the state has become increasingly welcoming to blockchain companies. Due to the statutes passed in recent years, sections of Wyoming have been taken over by the blockchain industry.

Cheyenne, the state capital, is now bustling with career opportunities in cryptocurrency. The surge in cryptocurrency careers comes as a result of large companies such as Ripple, valued at 10 billion $USD, and Kraken, valued at over 4 billion $USD, moving their operations into the state. Having such giants move into the state offers Wyomingites a glimpse of the future, which comes as a welcome change for a state largely dependent on the fossil fuel industry, according to State Senator, Chris Rothfuss.
It’s become hard to ignore how bullish much of the Wyoming legislative body is for the blockchain industry. Cynthia Lummis made headlines last year as the first bitcoin holder to serve on the US Senate. State Governor, Mark Gordon, who pushed forth the state’s 60 billion USD broadband expansion network aimed at attracting blockchain companies and investors, recently revealed his ownership of digital assets.

Though the Cowboy State may seem a strange frontrunner in the digital race, much of Wyoming’s ethos is predicated upon the same beliefs that permeate throughout the cryptocurrency realm; emphasizing self-sufficiency while maintaining the integral nature of community.

News of the DAO registry also opened up new revenue streams for industries outside of tech and finance; lawyers across the state have begun revising their websites to include DAO registration information and the local housing market is set to explode (already up 11.3% from last year). Individuals from across the country and the globe are moving to the sleepy capital of less than 65k residents.

What Does This Mean Outside of Wyoming?
While being an exhilarating time for Wyoming, it also raises a couple of questions for those outside the Cowboy State:

How long until other states follow suit?
Read more here...
https://medium.com/bankless-dao/wyoming-opens-its-doors-to-daos-fe3fcc9a0fe2

The Cowboy State Sets Sights on Digital Frontier

10/01/2022

Jan 6·Index Coop | Year of the Owl·
$GMI Bankless Innovation Index

Twitter Space Recording
https://twitter.com/banklessDAO/status/1479196381143257089

“https://t.co/TJCsaMXE6d”

10/01/2022

Brick and Mortar Banks Begin to Build On-Chain
Société Générale Partners with MakerDAO in a Historic Move to Bridge and

Samantha Marin
TradFi is coming, but it’s not coming for us. It’s coming to join us.
At least that’s what Société Générale, a French bank amongst the world’s largest investment institutions, is doing.

Société Générale’s investment arm, SG-Forge, is raising a $20 million loan through MakerDAO’s DeFi lending protocol to refinance their on-chain covered bond issuance backed by real estate, called OFH tokens. Reading their official proposal from September 30th is like entering an alternate reality — one where TradFi and DeFi aren’t at odds, but are able to work together.
This 20 million DAI loan will refinance OFH tokens that SG-Forge issued in 2020 on the Ethereum chain. OFH stands for “Obligations de financement de l’Habitat,” or housing finance bonds. These bonds are made of housing mortgages and are currently owned by SocGen, the bank that owns SG-Forge. The AAA-rated bonds will mature in 2025 and are estimated to be worth 40 million EUR at the peak of its maturity. They earn 0% interest. There are 350,976 mortgages in the pool that encompasses the bonds, the average value of the mortgage is 122,749 euros, and 99% of them are fixed-rate.

This historic move marks the first time a major bank has ever borrowed money from a DeFi protocol.

Currently, all of the OFH tokens are held by SocGen, which eases the process of swapping OFH for DAI, because they won’t need to get approval from investors. But the bank plans to offer tokenized refinancing opportunities like this one for its clients starting next year, according to SocGen CEO Jean Marc-Stenger in an interview for MarketWatch.

The Proposal: Winding Up, Winding Down
The team at SocGen knows just how monumental their proposal was. At the top of the proposal they referred to this new endeavor as an “experiment at the crossroads between regulated and open source initiatives.” And just like any good experiment, many things need to be put in place to make it work.

The inception process is as follows: SocGen, the bank, will transfer ownership of the OFH tokens to SG-Forge, the investment arm, which will then pledge the tokens into the Maker Protocol as collateral. SG-Forge will borrow DAI from the Maker Protocol in return, which SG-Forge will swap into fiat currency via an exchange agent, then transfer it to SocGen. Winding up, complete.

When the unwinding process occurs, roughly 6–9 months after inception, it will work backwards: SocGen will transfer its fiat currency to SG-Forge, which will use an exchange agent to swap it into DAI. SG-Forge will deposit the DAI into the Maker Protocol, which will unlock the pledged OFH tokens. Then, SG-Forge will give the OFH tokens back to SocGen. Maturity is achieved, and the full loop is complete.

This visual rendering breaks down the process. Steps 1–4, shown in blue, are the inception, and steps 5–10, shown in red, are the unwinding.

Read More here
https://medium.com/bankless-dao/brick-and-mortar-banks-begin-to-build-on-chain-de0e78413fc2

Société Générale Partners with MakerDAO in a Historic Move to Bridge TradFi and DeFi

10/01/2022

The deadline for entering this promotion been extended to midnight UTC.

LP $GMI / $ETH on Uni v3 (mainnet) for at least 60 days, and receive:

1) 50% of streaming fees

2) Top 20 LPs (by deposit) receive limited edition merch drop

3) 1 of those 20 wins $25k worth of $INDEX
https://twitter.com/indexcoop/status/1480272843350757378

“The deadline for entering this promotion been extended to midnight UTC. LP $GMI / $ETH on Uni v3 (mainnet) for at least 60 days, and receive: 1) 50% of streaming fees 2) Top 20 LPs (by deposit) receive limited edition merch drop 3) 1 of those 20 wins $25k worth of $INDEX https://t.co/SEyGE1Gf6u.....

10/01/2022

http://Flipper.zone is currently running multiple giveaways for their new NFT tool. If you like investing in NFTs, this tool can help you minimize costs and maximize profits - limited to only 500 users. Check it out here: https://discord.gg/4sP3x8WB

Check out the Flipper.zone community on Discord - hang out with 1,192 other members and enjoy free voice and text chat.

10/01/2022

BanklessDAO Weekly Rollup #36: Season 2 Recap, Coordinape & a DAOpunk is born
Catch up with what happened this week in the .

Dear Bankless Nation 🏴,

The holidays have come and gone, and it’s time to get back to building! It’s a New Year and we are heading into an exciting Season for BanklessDAO. This week we take a moment to look back at some of our accomplishments this past season, celebrating our success and highlighting some of our biggest projects.

As we head into Season 3 next week, we have a few more upcoming Snapshot votes, our monthly Coordinape round, and some important governance proposals in the works. Make sure to spend some time reading through the forum discussions and catch up on all the great content the Writers Guild has been pumping out on Medium as well!

Here’s what happened this week in the BanklessDAO.

Authors: BanklessDAO Writers Guild (Ssasho0, Cheetah, Freedom Fighter, kalex1138.eth)

BanklessDAO Weekly NFT Showcase 🔥
🧑‍🎨 Artist: Abstrucked

🏦 Auction Type: Open edition

💰 Price: 0.03 ETH

Ultrasound Shockwave
https://rarible.com/banklessdao/sale

“Beware of the Ultrasound Shockwave that Ethereum will deliver into this reality, for it will be a deflationary mechanism of wealth and freedom, one that will permanently change the structure of life.

We are the first to see and experience the effects of Ultrasound Money mechanics; by the time the rest of the world feels them, we will be enveloped by the amazing waves of economic fluidity and growth.”

Community Highlights
💰 Coordinape December round
Coordinape is the name of the game this week! We have been having daily announcements to sign up, but if you haven’t submitted your form yet, please head over to 🤖bot-commands and type in /coordinape form-request. The submission period will remain open until midnight EST on Friday, January 7th...so hopefully it’s not too late already. This round is open for Guest Pass, Level 1, and 2 (Contributor). If you are unfamiliar with Coordinape or how we use it, please check out this resource.

✍️ Annual Letter to BanklessDAO
Traditions always start somewhere, and this could be the start of a new tradition. Frogmonkee has penned what could be the first of many annual letters, wrapping up this past year and giving us a vision for where we are heading in the year ahead.

👨‍🏫 Polygon workshop
The Education guild organized an informative and practical workshop. They started with an explanation of what Polygon is, how to set up your Metamask, how to buy $MATIC, how to bridge funds, , BANK, etc. They held two session which were well attended, but in case you missed it, here is a recording of the sessions and the course handout.

What’s New
🚀 The new GMI index!
We are all gonna make it! and Index Coop have just announced the launch of the Bankless Innovation Index ($GMI). GMI utilizes an indexing strategy to offer broad, diversified exposure in a single token. The index will be represented by a fully collateralized ERC20 token and will be available for purchase on Uniswap v3, TokenSets, and more. Learn more about the GMI Innovation Index.

Read More here...
https://banklessdao.substack.com/p/banklessdao-weekly-rollup-36-season?r=elwu6&utm_campaign=post&utm_medium=web

Catch up with what happened this week in the BanklessDAO.

08/01/2022

Perpetual Protocol | Decentralized Perpetual Contracts

We’re back with the first episode of 2022! Today we’re talking to Yenwen Feng and Nick Tong of Perpetual Protocol about perpetual swaps, concentrated liquidity for derivatives, and scaling Ethereum on Layer 2 solutions.

We cover Perpetual Protocol v2, aka Curie, and their choice to migrate from xDai to Optimism. Perpetual protocol is an on-chain DEX with highly efficient liquidity provisioning and up to 10x leverage for makers and takers. If you’d like to learn more about Perpetual Protocol, go to perp.com and on Twitter .

Thank you for listening to Crypto Sapiens. Please give us a follow, like, and a 5-star review wherever you enjoy your podcasts. And stay tuned for our next discussion.

---

Crypto Sapiens is produced in partnership with Bankless DAO.
https://cryptosapiens.podbean.com/e/perpetual-protocol/

https://bankless.community

We’re back with the first episode of 2022! Today we’re talking to Yenwen Feng and Nick Tong of Perpetual Protocol about perpetual swaps, concentrated liquidity for derivatives, and scaling Ethereum on Layer 2 solutions. We cover Perpetual Protocol v2, aka Curie, and their choice to migrate from ...

08/01/2022

DAOs Will Change Everything
Web3, NFTs, Social Tokens, and The Metaverse

KAF

DAO Overview
We are living in changing times. Blockchain is a revolution that we cannot miss. Everything is going to change as you know it; decentralization has come to stay.

In a previous post I explained what DAOs are, and this time I will explain in more detail how this technology can change the way business will work between people using the creator economy as an example.

Crypto has changed the way we make money and collaborate. NFTs, Web3, Metaverse, and Social tokens grant content creators a range of possibilities that were unimaginable a few years ago. Through DAOs, different communities will have access to a series of tools that empowers them compared to large companies/banks.

The Creator Economy
Gen Z has some common characteristics. They admire YouTubers and TikTokers because they make money off their passions, brands give them clothes, and they have an abundance of items. All of that happens online. They have grown up in a world where a young boy can create a multi-million dollar company from his home. Influencers are the new rock stars.

Another common feature is that they share their lives online. They upload their experiences and thoughts to networks and share the content of personalities they like the most. Before twitch and youtube, a cable company decided what we watched. Today that is unthinkable, the users see what they want and the creators must reward their loyal fanbase in some way. Some of these creators have a larger audience than large communication companies.
But there is still a problem for creators: ownership and partnerships. Since the content creator economy appeared, we have seen several phases.

First, people used the networks like Youtube or Tiktok as a voice to unleash their creativity. Over time, people who gathered a large audience began to monetize it through platforms that allowed them to live off their content. We are now at a stage in which the creator himself is the one who creates his business. The creators have found that they can establish direct contact with followers by skipping various intermediaries.

Web3 is going to revolutionize the internet as we know it. In the future, you will connect directly with your wallet to a website, and that way you can contribute to the creator directly using cryptocurrencies. Defi allows you to create value for tokens through liquidity pools or staking and this is how creators can create their token, which they can give to the most loyal users. The greater the relationship and the audience, the more value that token will have. So creator/follower relationship will be a kind of partnership as they will both be interested in growing the business. The tokens will work like a share of a company, except that in this case you are investing in a person. Really revolutionary!

Social Tokens
How can they be used to return the power that creators acquire as their numbers grow?

The creators have the option of using platforms such as Converse, which facilitate the creation of a virtual currency through smart contracts and blockchain. They also give you the option to airdrop or create rewards for users.

How can social tokens be used to interact with the community?
They can be used to access prepaid content. Fans will not only be able to support the creator’s project but will buy a part of it. Once the creator or project earns money, as a hodler of the social token you will be incentivized to advertise it. It will be the community itself who will invest in marketing for the project, knowing that they also earn from it.

Another benefit social tokens will have is for the governance of the project.

The followers will vote for future strategies and the creator, in order to keep the community happy, will decide based on the votes. It will be the creators who decide what % of the profits will be returned to the investors of the social token. Thus also creating healthy competition between companies/creators in the form of a battle for who rewards their community the most.

For many years, intermediaries have lived off the art that others have created. These intermediaries handle the marketing and publishing and decide what gets through, and how it looks. Social tokens change everything because in this case it will be the community and the creator who decides. Everything is much more person to person.

DAOs Change The Way We Do Things>>>>
https://medium.com/bankless-dao/daos-will-change-everything-b955588eeedc

Web3, NFTs, Social Tokens, and The Metaverse

08/01/2022

An Interview with ParaState Founder Marco Chen
Building a Decentralised DAO to Future Proof Inter-Chain Development

Florian Strauf

ParaState is an on-chain runtime for developer tools that lets developers ‘drag and drop’ their Ethereum Solidity code to the Polkadot ecosystem and run Ethereum dApps within the Polkadot ecosystem with little to no change. Additionally it provides a future proof runtime (WebAssembly or Wasm) in which developers can use other programming languages like RUST to develop smart contracts. Simply put, ParaState provides bi-directional compatibility between Ethereum and non-Ethereum based smart contracts.

is just the start and plans to expand its service to other ecosystems. With Wasm becoming the standard for web applications, supported by most browsers and backed by W3C, Mozilla, Google, Microsoft, RedHat and Apple it is likely that Ethereum 2.0 will move into the direction as well. EWasm was introduced as an Ethereum specific subset of Wasm and ParaState supports it already.

Any development project that starts right now will have to evaluate whether to build on — the largest ecosystem. ParaState allows projects to build on a different ecosystem with currently greater performance, but stay compatible with Ethereum. Once Ethereum 2.0 increases performance, moving to Ethereum will be easy.

BanklessDAO talked to Marco Chen, co-founder of ParaState about the project, its token and future plans of ParaState.

Intro
First off, we heard you are launching a DAO to govern the project. Walk us through the plans for the DAO and how it interacts with the foundation?

The intent is to fully decentralise this project i.e., let it be governed by a DAO. All token holders can participate in governance and this will include the development roadmap and usage of the treasury. ParaState so far has been developed by our foundation and it will continue to be the team to build out features. Funding and prioritization of these features will come from the .
Developers are the main focus of ParaState, how would you pitch your offering to them?
The main idea is compatibility to Ethereum. Ethereum is the largest ecosystem and attracts a large number of smart contract experts. Building a new application that could at any point be deployed to Ethereum gives any protocol that is developing a wider reach (the reach of the largest ecosystem = Ethereum).

Read More here
https://medium.com/bankless-dao/an-interview-with-parastate-founder-marco-chen-77685d3bf24

Building a Decentralised DAO to Future Proof Inter-Chain Development

08/01/2022

The Ultimate Guide to GMI
Everything you need to know about the new DeFi 2.0 index

Lucas Campbell

Dear Bankless Nation,

In the back half of 2021, we heard the rumblings of a new market narrative: DeFi 2.0.

It was clear that projects under the DeFi 2.0 heading were built on the backs of blue-chip DeFi protocol like Maker, Compound, Aave, and others, but introduced novel tokenomic designs that promoted greater capital efficiency, protocol-owned-value, and healthy liquidity.

The problem?

DeFi 2.0 was growing so quickly and galaxy-brained protocol designs scared off the retail investor from exposing themselves to these untested assets.

Some of us bought next-gen DeFi tokens individually. Perhaps you heard of OHM and staked it. Or maybe you purchased PERP. Maybe even MPL.

Or maybe you held DPI and hoped the wave of DeFi 2.0 would pump those bags. It didn’t happen last year. In fact, compared to ETH, you lost.

So is DPI dead? Not at all. I think DeFi bluechips make a comeback at some point. From a P/S ratio many of them look both like value assets and growth assets with evolving tokenomics.

But bluechips don’t necessarily capture the latest innovation in the DeFi ecosystem.

GMI is a freshly launched crypto index to solve this from the Index Coop and BanklessDAO.

It includes diversified exposure to some of the hottest DeFi projects on the market.

Lucas tells us how we’re all gonna make it with GMI.

- RSA

P.S. Collect comfy socks and blankets with ’s latest merch drop
https://newsletter.banklesshq.com/p/guide-to-gmi

Everything you need to know about the new DeFi 2.0 index

04/01/2022

Decentralized Arts #20: OpenDAO, 9x9x9 & the Most Expensive NFTs of 2021
BanklessDAO Weekly NFT and Cryptoart Newsletter

Dear Bankless Nation🏴,

We start the year with fireworks. The thunderous bang of 's debut has not died down as Decentralized Arts hosts a song by one of its most active contributors, Angyts (also an active contributor at ), and an interview with its most prestigious exponent, 9x9x9.

OpenDAO is the community response to the rumors about a "centralized" coup in the NFT world pertaining to OpenSea and this newsletter welcomes this response with enthusiasm.

We’d also like to thank Perpetual Protocol for once again supporting the commitment of Decentralized Arts in investigating the world of .

2020 saw just under 100 Million in the valuation of NFTs, whereas 2021 jumped to 23 Billion. The question is, how far will it go in 2022? We aim to find out.

Welcome to Decentralized Arts.

Authors: BanklessDAO Writers Guild (Grendel, Kouros, Angyts, nonsensetwice)

OPENDAO, $SOS, 9x9x9
By Angyts, Grendel
Dear Bankless Nation,

The NFT community received the most memorable Christmas present ever in 2021. Everyone is hungry for more alpha about the $SOS token airdrop!

The energy in the room is clearly palpable. OpenSea trading volumes have increased by 50% since the airdrop. Twitter Spaces kept talking about $SOS and what it meant. The OpenDAO discord voice channel has been going on for a few days non-stop.

So how did it begin? When OpenSea considered doing an IPO on the stock exchange, community anger simmered beneath the surface. And with the OpenDAO movement, suddenly, this space for conversation was thrown into the open.

The $SOS token was retroactively distributed to OpenSea users by calculating the volume of trade and the number of transactions. Anyone who has ever bought or sold NFTs on opensea.io is eligible for the airdrop and can go and claim the tokens on theopendao.com.

So, who started this movement? One key player is 9x9x9 who was involved from the moment of conception to the launch of the DAO. 9x9x9 is an active contributor at OpenDAO and 721DAO. How did it happen? Well, he gathered a few friends, started planning and executed this plan.

We want $SOS to be the reserve currency of choice of the Metaverse. —9x9x9.eth

DA interviewed 9x9x9 for this special occasion.

Read More on Substack...
https://banklessdao.substack.com/p/decentralized-arts-20-opendao-9x9x9?r=elwu6&utm_campaign=post&utm_medium=web

OpenDAO Has Bright Horizons.

DA is grateful to get 9x9x9’s input on this new flash-DAO. What we’ve found is that the problem OpenDAO identifies is that each metaverse and NFT land project will eventually have its own token sold via ICO/ IDO, benefiting those who are already wealthy, and resulting in a low transfer of value to the community.

As a solution to this, projects can now use $SOS as a reserve currency, linking them to the OpenDAO ecosystem and creating value for all who already hold $SOS.

We united all the most active people in the metaverse. — 9x9x9

There are currently 200,000 wallets holding $SOS and counting. And many of them are the most active people on the metaverse.

BanklessDAO Weekly NFT and Cryptoart Newsletter

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