Cobie questioned Bankless’s joint creation view, claiming that he did not participate in governance but applied to hold 30% of BANK tokens.

On November 25th, encrypted KOL Cobie replied to Bankless co-founder Ryan Sean Adams on X platform, asking what is the point of proposing a request for 30% of all BANK tokens if you clearly do not participate in governance and never sell tokens? In response, Ryan Sean Adams stated that he could not reply because Cobie did not accept his follow. When replying to Bankless co-founder David Hoffman, Cobie stated that it is clear that you are happy to own a DAO and want to participate. But later, you think about the impact, or maybe the price has dropped, and you want to keep your distance. If you never sell or manage, there is no reason to want 25% of the supply.

Previously, Bankless co-founder Ryan Sean Adams stated on X platform that BanklessDAO is an entity independent of Bankless, and neither he, co-founder David Hoffman, nor Bankless have received any economic benefits from the DAO, never sold BANK tokens, and did not participate in governance voting. To avoid damaging Bankless' reputation, BanklessDAO has been renamed UdiDAO.