Amid the ongoing controversy around cryptocurrency media Bankless and the associated decentralized autonomous organization (DAO), BanklessDAO, the founders of Bankless have suggested separating the brand from the DAO.
Bankless co-founders David Hoffman and Ryan Sean Adams plan to submit a governance proposal to BanklessDAO to separate the two entities. The co-founders took to X (formerly Twitter) on Nov. 26 to announce that they also plan to burn all of their BanklessDAO (BANK) tokens on the back of this proposal.
Hello CT
To lead with the obvious, we could be better in accepting criticism of @BanklessHQ.
I hold Bankless very dear, and I’ve got an innate reflex to protect it when I see it being unfairly attacked.
This clouds my ability to hear what CT is trying to tell me,… pic.twitter.com/7L5ufQ1bAu
— DavidHoffman.eth (@TrustlessState) November 26, 2023
Hoffman and Adams’ decision to separate Bankless from BanklessDAO came in response to community criticism of BanklessDAO’s application for a grant from Arbitrum. Filed on Nov. 20, the application asked for 1.82 million Arbitrum (ARB) tokens from Arbitrum, a layer-2 scaling project for the Ethereum blockchain. The amount is worth around $1.8 million at the time of writing, according to data from…
