BanklessDAO: Applying for ARB funding has nothing to do with Bankless. We plan to modify the proposal and shorten the activity cycle in the future.

BanklessDAO posted on the X platform that its application for ARB funding from Arbitrum was anonymous and independent of Bankless. Bankless is a media entity owned by Ryan Sean Adams and David Hoffman, while BanklessDAO is a decentralized global community with more than 200 active contributors. Both entities operate independently but share a common vision of helping people get into crypto. Bankless has nothing to do with the BanklessDAO proposal. BanklessDAO also stated: “Work in BanklessDAO is done through voluntary contributions. Members receive voting rights and the power to shape the governance of the DAO. As a media and social DAO, we rely on community donations, public product funds, and grants to support our operations. We are different from many DAOs in that we do not have our own protocol and therefore cannot generate revenue from transaction fees and fund the DAO.” In response to questions raised by the community, including applying for ARB grants, BanklessDAO promises to take the following measures: 1. Revise the proposal and add clarity; 2. Incorporate the details of the assignment; 3. Review KPIs and milestones; 4. Consider reducing the campaign cycle from one year to three months. According to previous news, BanklessDAO requested an allocation of 1.82 million ARB from Arbitrum to carry out 12-month activities. The funds will help the organization guide users from awareness to expertise, further boosting adoption. The event will focus on three core audiences: developers, DeFi enthusiasts and gamers.