According to Foresight News, Bankless co-founder Ryan Sean Adams has released a clarification on the X platform, addressing concerns about BanklessDAO's application for an ARB grant from Arbitrum. People have been conflating BanklessDAO with Bankless, but BanklessDAO is an entirely separate entity from Bankless. Neither Adams nor fellow co-founder David Hoffman, nor Bankless, have received any financial benefits from the DAO, have never sold BANK tokens, and have not participated in DAO governance voting. Adams and Hoffman have allowed the DAO and those who share Bankless values to freely use the brand, but to avoid damaging Bankless's reputation, BanklessDAO has been renamed to Udi DAO.
Previously, BanklessDAO applied for 1.82 million ARB from Arbitrum to fund a 12-month campaign. The funds would help the organization guide users from awareness to expertise, further promoting adoption.