summary: Bankless DAO is a decentralized community that coordinates and propagates bankless media, culture, and education. 
content: Bankless DAO is a decentralized community that coordinates and propagates bankless media, culture, and education. Its goal is to drive adoption and awareness of truly bankless money systems like Ethereum, DeFi (Decentralized Finance), and Bitcoin. It is a decentralized autonomous organization that acts as a steward of the Bankless Movement progressing the world towards a future of greater freedom. Overview Bankless DAO was founded by Ryan Sean Adams and David Hoffman. It is the world’s first media & culture DAO for crypto. Over 1,500 members have made Bankless DAO their home on the bankless journey. The Bankless DAO team is settling, developing tools, and building a digital nation in the sky around a shared vision and goals. They have ambitious plans to grow, along with the economic resources to expand and make life inside the Bankless Nation better. Going bankless is a journey towards freedom—self-sovereignty. By financial independence, it implies that there will be reliance on two types of bank: 1. Central banks 2. Commercial banks With these, the team and users do not mean to hate banks since banks are still very much needed in crypto money systems — but they believe that they don’t need them anymore. Although they cannot risk taking the decision of ignoring the bank at once in the early stage as it will be too difficult due to the fact that this open money system is just getting started. That’s why it’s a journey. Mission The mission of the Bankless DAO team is to help the world go Bankless by creating user-friendly onramps for people to discover decentralized technologies through education, media, and culture. Bankless DAO is a decentralized community that coordinates and propagates bankless media, culture, and education. Its goal is to drive adoption and awareness of truly bankless money systems like Ethereum, DeFi (Decentralized Finance), and Bitcoin. Their goal is achieved through the collective participation of its community. The financial world today is run by analog banks. Crypto money provides an alternative. The option of self-sovereign money & banking. Now: In a world where private keys act as money, and code makes that money programmable, the entire money system changes. So Bankless is about banking less. And less banking. And less dependence on banks. Bankless is a journey towards freedom—self-sovereignty. Going bankless means moving more of your money and banking to crypto-based systems. It means less reliance on the central and commercial banks that previously control users' life. People on the bankless journey eventually see two milestones. First, their net worth in crypto assets starts to exceed their wealth in the legacy banking system. Second, they realize more of their banking activity now occurs in crypto rather than the old system. Why Bankless DAO Bankless is a movement for pioneers seeking liberation from the tyranny of the traditional financial system. Going Bankless means adopting decentralized, permissionless, and censorship-resistant technology. Through these means, users will achieve financial self-sovereignty, security, and prosperity. Bankless DAO will make it possible to live in a world where anyone with an internet connection has access to the financial tools needed to achieve financial independence. The bankless movement is now larger than any single entity, newsletter, podcast, or person to contain. It needs an internet-scale organization to achieve its goals. Therefore, the Bankless DAO will act as a coordination mechanism for a collection of participating media nodes. Participants can range from individuals acting on their own behalf, or larger entities with employees and resources. Bankless DAO will coordinate them all in order to achieve its mission. The Bankless program is a platform that blends money and tech insights to help members level up their open finance game weekly. With a combined daily newsletter, podcast, and community. Bankless provides insights and tactics to grow user personal wealth using crypto assets like Ethereum, Bitcoin, and DeFi. Features available to Users Features available to users every week includes: 5 actionable newsletters every week Practical tactics to level up your crypto money skills Long-term strategies to help users maximize returns & avoid pitfalls Values Bankless DAO has the following as their core values: 1. Education: The team learns from each other. They seek to become a trusted guide that empowers people all over the globe to adopt DeFi (Decentralized Finance) by sharing accurate, truthful, and objective information. 2. Integrity: The team operates transparently and builds trust through radically public discourse and financial auditability. 3. Decentralized Governance: Users put decision-making into the hands of the collective. They create legitimacy through an environment where the best ideas win. 4. Culture: The team rewards action and embrace risk. The team empowers their community to continually drive new initiatives by providing a space to self-organize and quickly move from idea to action. What Bankless DAO Do There are a few things Bankless DAO is uniquely positioned to do. Media Network Bankless DAO has its roots in media. The genesis team built the youtube channel, podcast, and newsletter. They built a media node in the churning crypto ecosystem. Bankless DAO inherits that mantle. The collective wisdom of media tells the community that content is king. It is a fact that; the quality, consistency, and energy behind everything Ryan, David, and co. have done, had drawn the Bankless DAO community to where they are today. Through the teamwork scaled to the Bankless movement. Bankless DAO can create the largest media network in all of DeFi which include: Guides on every topic, from getting started to complex trading strategies. A blog specific to tokenomics with another on culture. One dedicated newsletter tracking DeFi product releases and another on the latest research. The degree of reach Bankless has and the network effects achieved by word of mouth puts Bankless DAO in a very advantageous position. DeFi Products Ryan and David have been pushing to get the BED index 11 on Index Coop - an investment vehicle made of $DPI, $ETH, and $BTC. Bankless DAO can create a suite of products that leverages the community size and treasury. Merch Merch are shirts, stickers, SOCKS! While a Shopify store would be great, the team is also exploring other cooler means such as with NFTs. For instance: a proposal to kick-off a meme competition. Winners of this competition will have their memes minted as NFTs and put in the DAO’s museum which will increase the meme worth in the long run. Bullish on $BANK Media income, financial products, and merch provide diversified recurring revenue streams. DAOs are designed to function around an asset that supports the entire ecosystem. What Bankless DAO can accomplish By continually innovating on ways to make capital use more efficient, on-chain revenue streams, and investment into Bankless DAO future, $BANK will feel immense upwards pressure. Presently, $BANK has no value. Bankless DAO can accomplish a lot. A few apparent ideas include: 1. Promoting our media network, 2. Financial products, and 3. Merch/NFTs Tokenomics BANK is the DAO’s native governance token which coordinates an activity and gets distributed to community members for active participation in this movement. Information about the BANK token is as follow: BANK on Etherscan Token Contract Address: 0x2d94aa3e47d9d5024503ca8491fce9a2fb4da198 Name: Bankless Token Ticker: BANK Decimals: 18 Bankless wants to reach 1 billion people. So there will be 1 billion BANK at genesis. BANK is a valueless token that simply represents participation in the bankless community. By design, there is no sale and no investors. BANK is a fair launch distribution. The only recipients of BANK at genesis are individual community participants. The only way to get BANK is to participate in the bankless community. And the Bankless DAO will determine what qualifies as participation through token vote. Distribution of BANK A retroactive allocation of BANK will go to those that have already participated in the bankless community. The rest will go to the Bankless DAO treasury. The genesis distribution is as given below: 30% Retroactive distribution (liquid) 30% Treasury distribution (liquid) 40% vesting Treasury distribution (vested linearly over 3-years) At launch, the bankless community will have 100% ownership over the DAO. Retroactive Distribution The retroactive allocation will distribute 30% of the total BANK supply to Bankless community participants largely via verifiable on-chain actions. The snapshot for all eligible addresses was taken on May 4th, 2021 at 12am EST. This includes: 2020 Badge Holders — Fixed distribution for all 2020 badge holders. The Bankless badge is a POAP NFT that was claimable by 2020 Bankless members. Any Ethereum or xDAI address that held a 2020 badge on May 4, 2021 at 7am UTC time (12am PST) is eligible to claim BANK tokens. 2021 Badge Holders — Fixed distribution for all 2021 badge holders. The Bankless badge is a POAP NFT that was claimable by 2021 Bankless members Any Ethereum or xDAI address that held a 2021 badge on May 4, 2021 at 7am UTC time (12am PST) is eligible to claim BANK tokens. Gitcoin Grants — Any address that donated more than $0.95 to the Bankless Gitcoin Grant qualifies for the distribution pro-rata based on the amount donated. BAPs — Early adopters of rare Bankless merch (BAP0’s). If u