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A Bank for DAOs | by Joshua & Community

abankfordaos.com · 450 words · saved by 1 readers

There’s something missing in Web3. We’ve built all these complex financial widgets in DeFi. But for the vast majority of people, the most visible and trusted financial institution in the world is not a broker or an exchange or a hedge fund. It’s a local bank. DAOs are the native companies of Web3, but there’s a marked lack of “small business DAOs”. That’s partly because Web3 doesn’t have any financial infrastructure for them: small and medium businesses—which comprise half the real economy and 99.9% of all companies—aren’t going to take venture capital. They’re not going to start a native token. They can’t afford overcollateralized loans. And grants don’t solve their liquidity problems. If we want Web3 to scale to the rest of society, then we need to support more small businesses like restaurants, dev shops, barbers, and event managers. We need more mom-and-pop DAOs. We need a bank for DAOs. I’m starting that bank. It’ll give out dead simple, under- and uncollateralized loans to DAOs a

A Bank for DAOs | by Joshua & Community Dear community, There’s something missing in Web3. We’ve built all these complex financial widgets in DeFi. But for the vast majority of people, the most visible and trusted financial institution in the world is not a broker or an exchange or a hedge fund. It’s a local bank. DAOs are the native companies of Web3, but there’s a marked lack of “small business DAOs”. That’s partly because Web3 doesn’t have any financial infrastructure for them: small and medium businesses—which comprise half the real economy and 99.9% of all companies—aren’t going to take v

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