An organization with a hierarchical structure, also known as a decentralized autonomous organization (DAO), or an autonomous organization, operates impersonally. DAOS allow us to work closely with other people from all over the world without ever having to meet them in person. They are online-based organizations owned and managed by their members. Because they are based on public blockchains, DAOs are open source and can be controlled by members without the influence or control of a central authority. A blockchain enables all transactions to be inspected. DAO allows users to vote through its governance mechanism.
DAOs are autonomous organizations whose rules are defined by the creators and are executed by smart contracts. DAOs do not have CEOs or rigid hierarchies. Holders of DAO tokens have the power to submit changes, hold votes, and influence the course of the DAO. By holding more tokens, you have more voting power and influence over the DAO.
The DAO is a community that works to eliminate centralized banking systems and improve financial freedom. Despite the fact that the Bankless DAO is part of the Bankless media company, the founders have made it clear that the community controls the DAO. BANK, the platform’s governance token, was also released at the DAO launch. Tokens act as a DAO’s native governance token, that is earned by Bankless community members when they contribute to the DAO. Bankless seeks to help humanity achieve financial independence by enabling access to financial products to people with internet connections.
To enter into the Bankless DAO
- You must create an Ethereum address (any address with a badge dating back to 2020 or 2021 is eligible).
- To claim your BANK membership tokens, go to the Bankless DAO website, connect your wallet with Metamask or WalletConnect, and claim the Bankless tokens.
- Get into the Discord In discord, members of the Bankless DAO discuss governance and proposals. This discord requires Bank tokens to access all channels.
- Next, Share your skills to the team and explain about yourself how you are going to contribute in the development of community.
- Here you can view the active proposals and can vote
The channels of this Bankless DAO can be accessed by ,
- Member: A member is a person who has 35,000 or more $BANK tokens in their wallet.
- Whales : Those with over 150,000 $BANK tokens in their wallet are whales.
- Contributor: Those who have 35,000 BANK and also the Invitation by Genesis Team. Note: Genesis aligns Bankless LLC as a media node, rewarding the Genesis team for its role in launching the DAO. This is a minority stake that vests over three years.The community is in control.By voting for this proposal, BANK token holders would allow Bankless LLC to support the Bankless DAO during its early phases and remain aligned long term as the DAO pursues its goals.
Here In this article, we aim to focus on the number of members and whales on Bankless DAO over time.
Here we can see the Total number of Members and Whales on Bankless DAO Over time period .
On the below graphs, we can see growth in members and whales on Bankless DAO. December 9, 2021 provided the highest number of members as 1,595, while December 20, 2021 provided the lowest number of members as 1,521. Members are declining over time. The maximum number of whales was 318 on February 24, 2022 and the minimum number was 277 on January 10, 2022. Whales are showing an increasing trend in number.
Listed below is the latest distribution of members and whales on Bankless DAO. The Bin Label 1 35,000 – 70,000 has the highest percentage of contributors (82.62%) to the total of all other Bins.
More than three quarters of the total whales (75.87%) came from the top two bin labels.