BSLDAO/BankSocial Delegate Meeting 01/28/2026
Attendees: Kranthi Kalagara, Michael Allen, Jeremy Dube, Joe Weinzetl, Sara Khadar, Nathaniel Odell, John Wingate, Darlene Hilton
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Enthusiasm for Recent Activity and Transparency Darlene Hilton expressed excitement about the high volume of buys, especially from new, first-time BSL buyers, describing the activity as “order after order”. Michael Allen noted that such activity is expected when announcing initiatives like Link. Darlene Hilton emphasized that transparency, communication, and follow-through are crucial for keeping the community happy and fostering amplification.
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Proposal to Actively Onboard Credit Union (CU) Members into the DAO Kranthi Kalagara introduced the concept of creating a concerted campaign to actively onboard CU members into the DAO, suggesting that while they may already receive some BSL, they are currently passive holders. Michael Allen supported this idea, suggesting it could be framed as a “starting amount” with a prompt to click and learn more about the DAO. John Wingate confirmed that previous deals with credit unions involved funding BSL for their members and that this is an available mechanism.
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Educational Campaign for BSL Staking and DAO Involvement Kranthi Kalagara proposed the need for an active education campaign to teach CU members why and how crypto works by learning to stake their BSL to become more actively involved in the DAO, rather than remaining passive BSL holders. John Wingate mentioned plans to incorporate an education piece and a DeFi staking component within the credit union app, mirroring the regular app. John Wingate suggested using excess tokens to onboard people, offering a small amount like one or five free dollars to encourage trying staking.
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Interactive Onboarding for DAO Participation Michael Allen and Kranthi Kalagara suggested an interactive education process similar to “learn and earn” model, where users answer questions to earn BSL. John Wingate elaborated on this, proposing an interactive process where users are guided through receiving BSL, sending it to a friend, and then staking it, with an additional BSL reward for completion, thus making them active members of the DAO. Kranthi Kalagara added that users could then be shown how to vote on upcoming proposals.
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Execution Plan for BSL Token Campaign John Wingate outlined a plan to get BSL into more people’s hands, believing that knowledge about the token will increase if the campaign starts now. The plan involves having the DAO vote on using a percentage of tokens for a campaign that would distribute the token to credit union members signing up for an account, with this narrative driving momentum as five or six more wallets are expected to launch in the coming months.
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Strategic Use of Excess Tokens for Education Michael Allen expressed that the proposed use of the token for educational onboarding of CU members completely eliminates concerns about selling it back into the pool and impacting the price. John Wingate agreed, stating that this approach would be the best case, and that credit unions would approve as it provides an educational, low-risk way for their members to engage with the token and learn what crypto is and how it works with no risk. John Wingate committed to quickly launching a campaign to provide BSL tokens to people and integrating it into the educational portal for the embedded wallet in the coming months.
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Need for Measurable Metrics to Track Campaign Success Kranthi Kalagara emphasized the need for metrics to show the community that the new token allocation initiative is moving the needle, especially since the tokens are coming from “community coffers”. John Wingate advised caution in creating metrics that could be manipulated or create unnecessary social media noise. A simpler, preferred metric suggested by John Wingate was tracking the number of new “bank socialites” onboarded through the wallet.
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Token Allocation for DAO Growth and SLP Funding Michael Allen proposed splitting the 200 million BSL pool, allocating half to the new CU member rewards pool and distributing the other half to existing holders, arguing it addresses both goals. John Wingate countered that the two goals—maximizing current holders’ upside versus increasing the number of holders—are somewhat at odds and suggested first gauging consensus in the verified chat. Michael Allen later agreed with pushing all of the BSL into the rewards program for new members.
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The Voting Site is Fully Functional Michael Allen initiated discussion on the agenda, confirming an established quorum and moving to discuss the voting site. John Wingate confirmed that the voting site is fully functional, deployed yesterday, and the only known issue is a cryptic error message for users lacking HBAR, which they plan to make more user-friendly. Michael Allen suggested adding a disclaimer to mitigate the HBAR issue for the initial vote.
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Proposed Amendments for the Next DAO Vote John Wingate detailed amendments to the proposal for the next vote, including changing the liquidity utilization term from four months to a one-year contract, subject to renewal. The other main change is guaranteeing a minimum of 40 basis points, up from 10 basis points, with potential for increases based on treasury operations use cases. Michael Allen confirmed the new vote should increase the funding amount limit up to $1 million, with an initial funding of $300,000.
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Streamlining Contract Terms for Funding Jeremy Dube questioned if each fund transfer, such as an incremental $100K, should initiate a new one-year contract. John Wingate suggested that the one-year term should begin upon the establishment of the new contract and cover all subsequent incremental funding up to $1 million under the same terms, simplifying the process and avoiding new contracts for every funding tranche. Michael Allen confirmed the new proposal should reference the previous one, explaining that technical difficulties have been corrected and new amendments reflect new opportunities.
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Projected Staking Reward Increases John Wingate projected that adding an extra $200K to liquidity operations, combined with the increase to 40 basis points, will immediately increase DAO staking rewards by 3.5 to 4 times. John Wingate also anticipated another one to two times increase in staking outputs once other liquidity operations are launched in the coming months possibly q3.
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Status of the sell Mechanism and Funding Details Michael Allen inquired about the current status of fixing the sell mechanism, which John Wingate stated they would prioritize discussing with Phil. Darlene Hilton was tasked with taking a note to follow up with Phil on this. John Wingate confirmed that approximately $90K from a previous loan is currently held in escrow by BankSocial and could be utilized to offset additional funding needs in the SLP. Michael Allen suggested rolling that amount into the new funding to meet the $300K total and asked John Wingate to confirm the exact number.
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Website Updates and Feedback John Wingate drew attention to the new website updates, noting it is built on a full web app, allowing for greater capabilities than the previous WordPress site. Jeremy Dube and Kranthi Kalagara provided positive feedback on the new website, noting improved navigation, better design, and a lot of information, which they considered a significant improvement over the prior version. John Wingate agreed that while there is room for improvement, a complete rewrite was necessary.
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Displaying SLP Metrics on the Website Michael Allen requested that specific metrics about the SLP’s performance, such as running totals of staking rewards generated for stakers, be made visible on the website, possibly on the token or DAO page. John Wingate asked Michael Allen to send high-level details on which data points and where they should be displayed. They also discussed that these metrics should be static summaries periodically updated rather than live figures to avoid the issue of numbers fluctuating, which could create “artificial noise”.
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Social Media Strategy for Token Rewards John Wingate and Nathaniel O’Dell supported the idea of giving out a smaller reward, like $1, to new signups within the credit union ecosystem to promote the app. John Wingate emphasized that this campaign should be exclusively managed through the credit unions to ensure the quality of users and reduce exposure to scammers, as credit union members are already verified. The group agreed to keep the BSL reward pool open-ended rather than allocating specific amounts per credit union.
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Next Steps for DAO Delegates Michael Allen confirmed that the next steps include John Wingate posting the new proposal tonight for delegate review, and then proceeding with the H suite multi-IG process to remove and add delegate wallets. Darlene Hilton confirmed they would compile the meeting minutes and send them out soon. Meeting concluded at 4:47pm