A new operational framework for Bankless Africa
gm Bankless Africa fam!
In this issue, we bring you all the details about what’s new in governance across Bankless Africa. Following the success of the Great Migration proposal, ThinkDecade has come up with a framework for better coordination of Bankless Africa’s activities.
In some more exciting developments, the new Bankless Africa Discord server, tailored to the community’s needs, is currently being built by the Techfront team.
In DAO governance, we bring you a disturbing yet riveting tale of shady decision-making in DAOs — featuring Tribe DAO and its core teams.
Dig in!
Inside BA Governance 💬🕳️
Stay updated on all the latest governance ideas and needs in our media node, share your opinions and get governing!
Active Proposals 🔥
A Framework for Organizing Bankless Africa: An Adaptive Hybrid Framework
💡 Bankless Africa will be moving to its own Discord server, which Tony Stark and the Tech Front team are currently building.
Now that the proposal for the Great Migration has passed, it’s time to consider the next steps. ThinkDecade has developed a new framework for Bankless Africa to better organize and structure its processes. The first is a shift in the way we coordinate and form new projects or teams from workgroups — into Interest Groups > Pods > Guilds.
Interest Groups represent the ideation or bootstrapping stage where a member or members raise an idea for a project. The next steps are to create a working document that outlines the benefits and lists clear roles and responsibilities, seek community feedback and input, and then (according to ThinkDecade) “at least ship the idea once to determine viability”. For instance, this governance newsletter would fall under an interest group, as would the Pidgin Parlour.
These Interest Groups would then develop into Pods which will function as workgroups in the DAO. Those pods that are able to secure a reasonable amount of funding might be able to evolve individually and recruit talents for their activities.
Pods will have set up systematic processes and be at the point where they ship a service/product on a cyclical basis (daily, weekly, monthly, quarterly, etc.).
Pods would also eventually morph into guilds or projects or nodes, but for now, ThinkDecade’s proposal is focused on the first two stages.
There’s also been an update on the proposal, which you can read to find out more about the intended Interest Groups and Pods.
Completed Proposals ☑️
The Great Migration proposal and poll were completed. Seven members voted in approval, with zero members voting either for a revision or to disapprove.
Key Actions for the Week 📋
Participate in the Tech Front design contest in preparation for Bankless Africa's new Discord server launch (Bounty prize is 3000 BANK).
Join the Governance Interest Group; we currently host meetings every Friday at 7 PM UTC.
Get involved in governance by signing up for the BA Commonwealth platform and contributing to discussions.
Contribute to the BA weekly newsletter by writing an editorial, editing, or designing a cover.
What’s Up in Governance? 🧐
How a Tribe DAO Revote Shows the Flaws in DAO Governance
Author: Liam J. Kelly
The current iteration of DAO governance and all it stands for once again took a hit following TribeDAO’s overturning of a vote already made by its community members. Earlier in April, Rari, a lending and borrowing protocol, lost approximately $80 million across seven different pools to a hack. TribeDAO (which is a fusion of the Rari and Fei protocols) held a vote on Snapshot to determine whether to reimburse those who were affected by the hack.
Community members holding a total of 26 million TRIBE voted in favor of reimbursement, as opposed to 8.4 million TRIBE held by those who voted for discussion of alternative solutions, and a negligible vote completely against. In a weird turn of events, no doubt driven by the bear market conditions, second and third votes were held. In these subsequent votes, the community strongly voted against the reimbursement, completely overriding the first vote.
As the author of the article, Liam Kelly, points out:
By overturning the initial will of the community in that initial May vote, the Tribe DAO leadership has essentially said "your first votes don’t count, because you didn't vote for the outcome we want.”
This situation is troubling — both for those who lost funds in the initial hack and for those who have lost a measure of faith in the validity of a DAO community’s vote. This is why it is so vitally important to ensure that proposals are adequately discussed and that there are robust governance processes in place to prevent issues when the will of the people could turn with the wind.
How Can I Help? 💪🏾
This governance newsletter is currently created by only Abidemi; the newsletter would very much benefit from contributions by more members interested in writing, design, editing, and researching.
Note: Contributions are currently pro-bono (unpaid).
Upcoming Operations Call 📢
Don’t forget to RSVP to the Bankless Africa weekly operations call, held at 10:30 AM UTC every Thursday, to get plugged in on how things get done.
Thanks for reading Growing Governance Newsletter. Stay up to date with governance insights, discussions, and opinions in and around Bankless Africa and the DAO ecosystem. Subscribe Now!