Babena Community Update: The Babening

Babena.io

4 min readJan 30, 2022

Executive Summary

While markets have been tumbling, Babenas have been building
Babening.io launches; community owned & operated resources page allowing authors to be rewarded for their articles
BabeDAO outlines Build-2-Earn framework
First rotatable multi-signature wallets built on Kadena
Initial governance slate outlined; 5 stewards selected to facilitate operations, rotations every 6-months, $BENA governance voting

Build-2-Earn

BabeDAO fuels it’s grant program through five main revenue streams:

10% of initial Babena NFT sale
100% of Babena secondary market royalties
90% of all Chainbabe auctions
50% of merchandising profits
100% of LP fees

Liquidity as a service

Liquidity, the ability to trade and move money, is a service often taken for granted. We will deploy a portion of our funds towards providing liquidity, and route these profits towards our B2E grant programs.

Doing this in the nascent Kadena ecosystem will have numerous benefits.

First, smart contracts are written in Pact. Pact uses formal verification. What does this mean, functionally? No smart contract risk. Ideal conditions for DeFi and liquidity provisions.

Second, we are soooooo early. Trading is only done in small batches and is largely isolated on the Kadena chain. We believe the future is chain-agnostic, and are eager to assist in creating both on-chain and cross-chain liquidity rails to improve user experience and assist in bringing more users to Kadena.

Our Goals

BabeDAO is here to create opportunities and paid salaries for web3 professionals. We are using NFTs and emergent technologies to sustainably fund these efforts, and look forward to creating a hub of building and learning to grow alongside each and every one of you reading this.

Community: incubate lasting utility, create public goods, deliver real value via transparent systems and user:builder:investor alignment

Growth: onboard users on missions they feel are worthwhile, build diverse value asymmetrically across communities

Engagement: solicit voices and community opinions to reinforce strong governance participation to serve as a source of high-signal, low-noise information.

Our core values guide our efforts, and are the pillars we will look towards when implementing our Build-2-earn program.

Initial Governance Slate

To facilitate the creation of BabeDAO, 5 stewards have gathered from the Kadena community. Each with different skills and talents, we are just like any other DAO member, except each has access to the BabeDAO multi-sig wallet.

We have utilized r:accounts and multi-sig technologies to create the first DAO wallet on Kadena capable of facilitating rotating elections. In its initial state, BabeDAO will have elections every 6 months where $BENA holders will vote for representatives to Steward the interest of the DAO.

Stewards are just like any other members of the DAO, but with a bit more responsibility. They do not receive extra voting power. They are simply responsible for enacting the operations and will of the members, and are salaried contributors.

All expenses and salaries incurred by the DAO wallet will be public for the DAO to view, and will require 3 of 5 multi-sig approval from the Stewards. These expenses will be public and open to input from the Babena community.

Babena Stewards

Matt: Switzerland based crypto enthusiast & social media addict. Helping out within the Kadena Community and managing @KadenaSwiss | @KadenaCommunity

Thanos: Maple syrup enjoyer and not an actual catgirl. Pretends to be busy but does nothing all day. Deployed some dapps on the Kadena network.

Thanos with his secret of a daily skin routine

GeorgeP: Dev monkey hanging out with fat cats. Social animal and DAO enthusiast that loves playing on the cutting edge of blockchain tech and helping out a fellow Babena.

Optima: Defi Degen. Based Karen. NFT lover, ex-tradfi now full-time degen. Your local armchair economist huffing hopium, growing funds safu, and spreading good vibes.