In anticipation of our upcoming launch, we’re officially announcing our Initial NFT Offering which is the first part of a two part Fair Launch strategy, and aims to distribute supply of BLKD as fairly as possible among our early on-chain supporters and supporters of Black and African builders across Web3 alike.
By participating in the primary mint of Abstract Diaspora Club (formerly ‘Friends of Basquiat’), users can secure a bag of BLKD, at initial price discovery, in a non-competitive environment. The public sale will be through custom contracts, on our native website, created and facilitated by our friends over at Nervous Net. This sale will not only allow for an easy way to conduct a presale to bootstrap the protocol’s liquidity, it’ll also help us identify our earliest users and adopters. NFT holders will also be the first beneficiaries of the rewards and additional permissions offered through our DeFi arm.
With the upcoming launch of our reserve currency protocol and yield aggregator, Blk Finance, The Black DAO is partnering with a number of organizations to support the launch of a joint promotional NFT collection. Our goal is to form a common bond between the many flourishing diaspora culture-based collectives and our DeFi platform which would act as the central hub to organize the culture's collective purchasing power within Web3.
As our first collection, we will focus on honoring one of the most prominent and highest selling (post-mortem) Black painters and artists of all time, Jean Michael-Basquiat, in collaboration with Animation and NFT artist HighWestHus.
These generative pieces will include elements inspired by his signature style of abstract expression while also including attributes representing diversity and inclusion. Effectively giving our platform an aesthetic identity outside of our economic structure and mission, while also providing a bridge for funding of the existing Black creative communities currently existing in Web3.
Mint Price: TBD ETH
From the genesis of the Black DAO’s original concept, security has been on the front of our minds while pursing our mission of support Black and African communities through the power of Web3. With the completion of the development of our reserve currency protocol, BLK Finance, we’re excited to announce that we’ve begun contracting with leading auditing firm, Spade Solidity Audits, to handle the due diligence behind auditing the protocol’s smart contracts
Spade reports represent an extensive auditing process intending to help customers increase the quality of their code while reducing the high level of risk presented by cryptographic tokens and blockchain technology. In order to do this, they will complete a line-by-line review of our code and a comprehensive test simulation of our smart contracts and provide feedback for any critical issues found.
This audit is the first step in providing safety and protection to our community of supporters.
We’re excited to have Spade be a part of that story!
In an addition to the OlympusDAO Community Grants Program’s inaugural cohort, OlympusDAO is hosting their own Gitcoin Grants Matching Round to help fund open source projects in the ecosystem using Quadratic Funding. Quadratic Funding (QF) is the mathematically optimal way to fund public goods in a democratic community. With QF the number of contributors matters more than the amount funded, giving power to the majority and not the wealthiest. Gitcoin has run 12 rounds to date, raising $36 million for public goods, establishing QF as a powerful mechanism to support open source, bootstrap ecosystems, and share resources in an egalitarian manner.
The OlympusDAO Ecosystem Round is running as part of Gitcoin Grants round 13. This round will be held on gitcoin.co/grants and is open to all grantees who fit the eligibility guidelines. OlympusDAO Community Grants Program believes this is a fantastic way to let the community decide which grants deserve funding. The matching pool will be $50,000 and paid out in gOHM with a 10% matching cap, and self-curated curation method. Only donations during this round from March 9th to March 24th, 2022, will be counted towards the QF distribution of the matching funds.
As a result, for those who want to contribute to the fund and support from the community, we’ve prepared a brief guide on how to interact with Gitcoin using a Metamask wallet on Google Chrome.
Welcome all OHMies!
We’re honored to be amongst the 13 projects selected for the Amanita cohort grantees of the OlympusDAO Community Grants program. Moving forward, we will be assisting the OHM ecosystem by acting as the premier interface for OlympusDAO to expand their total addressable market and exposure to Black and African communities.
As an organization dedicated to the funding and education of Black and African institutions across the African diaspora, The Black DAO has recieved a grant to support OlympusDAO in creating the building blocks to connect with Black and African creatives, businesses, and institutions by becoming a cornerstone reserve institution for supporting the emergence of new institutions serving those communities across Web3 and beyond.
Why this Alignment?
The World's First Blockchain-Based Organization for Communal Economics within the African diaspora. Earn interest on your cryptocurrency assets while participating in an online movement for collective financial freedom. We Fund Black and African-Owned Businesses, Creatives, and Initiatives.
Our Origin Story
The Black DAO began as a simple idea during the summer of 2020. In the middle of a global pandemic, the entire United States saw the most significant series of decentralized uprisings for civil and human rights in the nation’s history, in the wake of the murders of Geroge Floyd, Breonna Taylor, and Ahmaud Arbery. During this time, the cryptocurrency community was focused elsewhere at the beginning of cyclical rapid growth, or a bull market now referred to as DeFi Summer.
While this is commonly known to be a cyclical occurrence and was expected by many season cryptocurrency analysts and experts, the catalyst of this growth is commonly determined to be the rise of decentralized protocols such as Compound Finance (borrowing and lending), Synthetics (Synthetic Assets and Derivatives), and Yearn Finance (Yield Farming and Income). The release and growth of these open-source protocols spurred a sea of “forked” projects that each offered either similar value propositions or innovative economic models based on the technological advances of the new protocols. This created concepts in the space such as “vaults”, “yield farming”, and “yield aggregators”.