New York, NY, October 7, 2022 — Today, ConsenSys, a market-leading blockchain technology company, and Bankless DAO, a decentralized community that aims to help the world go bankless by creating user-friendly products for people to discover decentralized financial technologies, announce plans to develop the world’s first-ever DAOlationship.
DAOlationships are a mutually beneficial undertaking between a traditional organization and partner DAOs. They allow employees to learn how to effectively explore DAO culture, experiment with external contributions to the DAO community, and provide a qualified group of potential contributors to help various DAOs in the areas where they need it most. ConsenSys created the DAOlationships program because we are committed to bettering the overall Ethereum ecosystem and the DAO ecosystem.
The DAOlationship allows ConsenSys employees to experiment with contributing to one of the most respected DAOs in the ecosystem. At the same time, the Bankless DAO will access valuable contributors with a proven track record of delivering on projects and who aim to increase the output of various departments (guilds) within the Bankless DAO.
After a successful proposal in the Bankless Community forum, ConsenSys will secure 50 Passes for employees to experience the Bankless DAO in a three-month trial period, joining the Bankless DAO discord and potentially contributing across various working groups, including writing, operations, and marketing amongst others.
ConsenSys employees will go through the BanklessDAO onboarding process and select a project or guild workstream they want to participate in. Then, they will join the community calls to get familiar with the guild and its goals. Finally, they will be able to apply to become part of the guild; if selected as a contributor by the guild leader, they will add value using their working hours.
The ConsenSys x Bankless DAOlationship will revolutionize the way brands onboard into DAOs.
There has been an explosion in DAOs by more than 8x, from 700 to 6000+ in the past year, as they have emerged as an alternative to organizing communities and corporations. However, the DAO ecosystem, while snowballing, still has a lot of refining and improvement areas, one of which is the complex onboarding process required to contribute efficiently.
The onboarding challenge and lack of clear contribution opportunities for people interested in adding value to DAOs are perhaps the most significant hurdles in growing the DAO contributor base. DAOlationships are an innovation that aims to solve this problem.
The ConsenSys x Bankless DAOlationship model aims to reduce friction in the DAO onboarding process and improve the engagement and quality of work executed by the DAOs.
As a result of this DAOlationship, we can expect to unearth new insights about DAO onboarding and how we might improve them.
“At ConsenSys, we strive to embody the spirit of decentralization, self-sovereignty, and community—all crucial to Ethereum. As a leader in the industry, charity begins at home.
This is why we created an initiative called DAO Days, where employees are encouraged to dedicate at least one full day every month to DAO endeavors external to ConsenSys.
This DAOlationship program is an extension of that commitment. It will be the first time an organization of our stature onboards employees into various contributor roles at external DAOs – genuinely trying to grow the ecosystem. The notion that employees can also use company time to do this is pretty radical,” said Matt Wright, Director of Decentralized Community at ConsenSys
“This partnership is a great opportunity for the Bankless DAO community to collaborate with one of the largest, most impactful firms in crypto. ConsenSys has some of the top talents in the industry, and directing that mindshare towards Bankless DAO is an exciting initiative for both parties.” – Bankless DAO.
The vision of web3 is to achieve what has eluded the internet up until now: open networks, services, and applications run atop decentralized protocols instead of centralized entities controlled by tech behemoths. DAOs are a step further in crystalizing this vision as they remove the need for a single point of control or central entity when bringing together a community of users with similar interests to work toward a shared goal.
Bankless DAO’s vision is a world where with only an internet connection, individuals are empowered to achieve financial independence; through this DAOlationship with ConsenSys, there is a synergy with potential contributors who are committed to accelerating this future.
It is still early days, but it is without a doubt that the future of work looks much more like what happens in DAOs today; as the technology matures, we can expect to see even more innovative and impactful DAO experiments emerge.
DAOs have the potential to redefine the way we live and work together, and they will.