ReadMe First
What is Fight Club?
The Bankless Fight Club is a BANKLESS DAO project (soon to be node) that aims to derive value for the benefit of the Bankless DAO members by creating:
- An opportunity for all Bankless DAO member a pathway to evaluate any project as a potential project/startup.
- A way for the Bankless DAO Treasury to diversify its holdings and earn revenue from service provider fees.
- A demand for Bankless DAO guild services as Fight Club invested projects can utilize the Bankless DAO guild expertise.
Fight Club has evolved from its original form as a single venture DAO to an umbrella structure with an arm for venture DAOs (aka funds) and for Fight Club projects. The initial venture DAO will be the Web 3 venture DAO that will include a US entity for accredited investors and non-US entity for non-US Fight Club members.
The first Fight Club project is an Education Program being designed with FTW.DAO. The season 1 of the Education Program is to create a webinar series that teach the fundamentals of crypto venture investing.
What is the first rule of Fight Club?
Due to US regulations regarding marketing investment funds, Fight Club members are not allowed to openly market Fight Club to the public.
Fight Club members are allowed to:
- Answer questions about Fight Club when asked
- Discuss Fight Club amongst other Fight Club members
- Invite interested Bankless DAO members to join the Fight Club chat or weekly meetings
What is an investment DAO?
DAOs have evolved to encompass different community and business needs. Investment DAOs, including venture capital DAOs, have emerged as a way for communities to invest in early-stage projects. Investment DAOs typically have an on-chain component in the form of smart contracts to manage the operations of the DAO and an off-chain component that provides some legal liability protection to its members, i.e. the DAO’s legal structure.
The investment process of a venture DAO is different from a typical venture fund since each member of the DAO can bring investment proposals to the DAO. The decision process for the DAO to invest is based on DAO voting results versus an investment committee in traditional VC firms. Each member holds one vote. If enough votes accrue the investment proposal moves to the next step.
Depending on the specific DAO smart contracts, members of the DAO may have the right to “ragequit” or end their participation in the DAO at any point in time. Typical venture investments require that investors remain in the fund for a set period of time.
Get Started
- Join us for weekly meetings on Wednesday, 1pm pdt in the #Dojo.
- Add your name to the Squad and Project Member tables on the Notion page.
- Check out the VC timeline for projects that look interesting.
- Check out the Meeting Notes on the home Notion page.
- Introduce yourself in the #fight-club chat and ask any questions.
Discord Channels
- #fc-start-here - Landing page for new Fight Club members.
- #fight-polls - Find all polls regarding Fight Club here.
- #fc-general - Channel to chat, ask questions, and suggest new ideas.
- #education - Channel for Education Program.
- #fight-announcements - Announcement channel.
- #nfcs - Secret channel for NFT projects.
- #fc-governance - Channel to discuss FC structure, roles, and relationship to bDAO.
- #project-due-diligence - Channel for the creation of the FC due diligence process, presentations, etc.
- #fundraising - Where we shakedown people for monies.
- #legal - Legal questions regarding venture DAOs.
- #after-after-party - Channel to coordinate real-world meet-ups.