BanklessDAO
BanklessDAO
/
Operations Department
Operations Department
/
📖
Notion Administration
/
Top-Level BanklessDAO Notion Pages
Top-Level BanklessDAO Notion Pages
/
🚧
Projects
/
BanklessLoans
/
Bankless Loans Meeting Notes
/
Bankless Loans Sync 15/6/2022

Bankless Loans Sync 15/6/2022

Last edited by
Note-taker
Katarina
Type
Weekly
Date
Jun 15, 2022
Attendance
Birdman, CompositFellow, LawPanda, LiveTheLifeTV, Katarina
Last Edited Time
Jun 16, 2022
  • Birdman: We are using Vercel for Bankless Loans, so we need a credit card for the monthly payment, but at the Dev Guild they advised me not to use my own like I am doing now while building and testing. The Pool Together lawsuit kind of freaked me out now too. We had the DevOps team before and SlinkyPotatoe used his credit card for all projects, but now every project has to take care of its own payments. Bankless Loans is of course a financial project so there is a bigger liability risk. I use my credit card from my personal Texas LLC, but it also has my own crypto assets.
  • LTL: I think we all agree that this indeed is not a good solution and we need to find another payment set up before we actually launch.
  • CompositeFellow: Maybe we can move to Fleek, which is fully decentralized and the first 50 GB is free. Seems that with Fleek we could use crypto to pay too ?
  • Birdman: Vercel seems to work smoother for a Dapp, but I guess I can move everything to Fleek if that solves the Credit Card problem.
  • Katarina: We should have a legal wrapper and I have been in contact with IcedCool, as they are working on a solution for Bankless DAO, but there has been no progress in the past weeks. We could set up an Onchain LLC with Otoco, but then we still don’t have a credit card.
  • LTL: I have been in contact with Han from Otoco and they might be able to guide us for getting a credit card, but it should be the DAO that does this setup, as the revenue is for the DAO, and not for the team. Also, seemingly it’s better not to have US citizens in and Onchain LLC, as that complicates taxes,…. Should the Legal Guild not help with this?
  • LawPanda: Remember, the Legal Guild is only a group of people and doesn’t represent the DAO. We are indeed now looking into options and doing a study of different entity types and options for the DAO. Another option is to open up an entity for Bankless Loans separately. Use that for funding and hosting.
  • CompositeFellow: There should be a procedure in place at the DAO to defend projects/members in case they get prosecuted. The steps to follow should be clear even before something like that happens.
  • LawPanda: Where a member is located is important, as not every lawyer has power in every jurisdiction/country. With Bankless Loans, there shouldn’t be too many issues as it’s only a frontend? The DAO is not a legal entity, so it’s difficult to create an agreement for/with the DAO. We could make a proposal and take it to the grants committee to protect DAO members as there are concerns about liability.
  • Katarina: We should take this to the Legal Guild, to discuss this further and also check with Operations/Grants Committee/GSE how we go about this.
  • LTL: The legal side of DAOs has always interested me, but I’m not a lawyer, let’s research this further. I feel that we can’t launch before this is fleshed out. Let’s better take our time and make sure we don’t take liability risks, especially with the current market conditions and instability of eth.
ACTIONPOINTS
Consult with Legal Guild / Operations / GSE about a legal wrapper for Bankless Loans/BDAO with a credit card ( Katarina and LTL )
Move Bankless Loans to Fleek ( Birdman )
Contact Gatorbait for testing, give him role, create thread for feedback ( Katarina )
BanklessDAO
BanklessDAO
/
Operations Department
Operations Department
/
📖
Notion Administration
/
Top-Level BanklessDAO Notion Pages
Top-Level BanklessDAO Notion Pages
/
🚧
Projects
/
BanklessLoans
/
Bankless Loans Meeting Notes
/
Bankless Loans Sync 15/6/2022

Bankless Loans Sync 15/6/2022

Last edited by
Note-taker
Katarina
Type
Weekly
Date
Jun 15, 2022
Attendance
Birdman, CompositFellow, LawPanda, LiveTheLifeTV, Katarina
Last Edited Time
Jun 16, 2022
  • Birdman: We are using Vercel for Bankless Loans, so we need a credit card for the monthly payment, but at the Dev Guild they advised me not to use my own like I am doing now while building and testing. The Pool Together lawsuit kind of freaked me out now too. We had the DevOps team before and SlinkyPotatoe used his credit card for all projects, but now every project has to take care of its own payments. Bankless Loans is of course a financial project so there is a bigger liability risk. I use my credit card from my personal Texas LLC, but it also has my own crypto assets.
  • LTL: I think we all agree that this indeed is not a good solution and we need to find another payment set up before we actually launch.
  • CompositeFellow: Maybe we can move to Fleek, which is fully decentralized and the first 50 GB is free. Seems that with Fleek we could use crypto to pay too ?
  • Birdman: Vercel seems to work smoother for a Dapp, but I guess I can move everything to Fleek if that solves the Credit Card problem.
  • Katarina: We should have a legal wrapper and I have been in contact with IcedCool, as they are working on a solution for Bankless DAO, but there has been no progress in the past weeks. We could set up an Onchain LLC with Otoco, but then we still don’t have a credit card.
  • LTL: I have been in contact with Han from Otoco and they might be able to guide us for getting a credit card, but it should be the DAO that does this setup, as the revenue is for the DAO, and not for the team. Also, seemingly it’s better not to have US citizens in and Onchain LLC, as that complicates taxes,…. Should the Legal Guild not help with this?
  • LawPanda: Remember, the Legal Guild is only a group of people and doesn’t represent the DAO. We are indeed now looking into options and doing a study of different entity types and options for the DAO. Another option is to open up an entity for Bankless Loans separately. Use that for funding and hosting.
  • CompositeFellow: There should be a procedure in place at the DAO to defend projects/members in case they get prosecuted. The steps to follow should be clear even before something like that happens.
  • LawPanda: Where a member is located is important, as not every lawyer has power in every jurisdiction/country. With Bankless Loans, there shouldn’t be too many issues as it’s only a frontend? The DAO is not a legal entity, so it’s difficult to create an agreement for/with the DAO. We could make a proposal and take it to the grants committee to protect DAO members as there are concerns about liability.
  • Katarina: We should take this to the Legal Guild, to discuss this further and also check with Operations/Grants Committee/GSE how we go about this.
  • LTL: The legal side of DAOs has always interested me, but I’m not a lawyer, let’s research this further. I feel that we can’t launch before this is fleshed out. Let’s better take our time and make sure we don’t take liability risks, especially with the current market conditions and instability of eth.
ACTIONPOINTS
Consult with Legal Guild / Operations / GSE about a legal wrapper for Bankless Loans/BDAO with a credit card ( Katarina and LTL )
Move Bankless Loans to Fleek ( Birdman )
Contact Gatorbait for testing, give him role, create thread for feedback ( Katarina )