Bankless DAO
Bankless DAO is a community-driven initiative created by the Bankless Podcast, centered around a social token that promotes ownership. With a focus on content creation, tool development, and consulting, Bankless DAO has grown into a vibrant ecosystem of contributors and supporters.
Categories:
DAO
Updated:
2023-04-03
Tags:
Social Token
Ticker:
BANK
Token Strength.
Token Utility:
$BANK Community Governance: Holders of BANK token can vote on proposals and decisions within the Bankless DAO. Liquidity Provision: BANK can be used to provide liquidity on decentralized exchanges, allowing users to trade with low slippage. Staking: Holders of BANK can stake their tokens to earn rewards, incentivizing long-term holding. Platform Fees: BANK can be used to pay for services provided by the Bankless DAO platform, such as subscriptions to premium content. Ecosystem Support: The Bankless DAO uses BANK to support other projects and initiatives in the wider DeFi ecosystem, creating a virtuous cycle of growth.
Demand Driver:
Membership: Crypto enthusiasts and DeFi users interested in joining Bankless DAO, requiring 35k BANK to become members. Community engagement: Existing Bankless DAO members and supporters who hold BANK to participate in governance, decision-making, and community events.
Value Creation:
Bankless DAO's value stems from ownership through social tokens. Members feel a strong sense of belonging, resulting in a vibrant ecosystem of content creators and consultants working towards financial sovereignty. Decentralized decision-making and contributions lead to valuable educational and investment services for decentralized finance. This is a compelling example of social tokens building powerful communities.
Value Capture:
Value accrual to token: The value capture for Bankless DAO is driven by its strong brand and community, in order to become part of this community there is a 35K $BANK requirement, and additional tiers which also require additional $BANK holdings. Aside from this governance rights for token holders and staking which incurs additional $BANK rewards are a form of value accrual Value accrual to the protocol: Bankless DAO's treasury accrues value through revenue generated from its projects and services, which can be used to fund future initiatives and investments.
Business Model:
The business model for Bankless DAO: Revenue comes from: Community projects generate revenue, a portion of which feeds back to the treasury. LP tokens are bonded by users, which earn treasury revenue through fees. Revenue is denominated in: Stablecoins for community projects, and LP token assets for fees. Revenue goes to: The treasury, funds community projects and provide rewards for BANK holders. A percentage (not specified) is used for community grants and funding.
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Protocol Analysis.
| Problems & Solutions | |
|---|---|
| Predecessors | Forefront - A community-driven platform that enables creators to launch their social tokens and build their own economy. Seed Club - A community-driven accelerator program that helps creators build and launch their own token-based economies. Flamingo DAO - A decentralized autonomous organization that focuses on investing in and building projects within the NFT ecosystem. |
Investment Take
... coming soon
Tokenomics Timeline.
2021-05-04
TGE
1 billion BANK is airdropped and placed in the treasury.
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