Community Pre-Contribution Proposal. PART 2

Hi Frens.

As promised, now that voting for the VC fund raise is underway (and closing soon), I’m moving the communications on details of the Community Raise to its own forum post (here).

Terms of this Community Raise:

  • 7 days to submit Expressions of Interest (EOI). EOI’s must include a clearly defined sum; e.g. $50,000. Replies with a range, e.g. $20,000-$50,000 are not valid submissions.
  • (If you’re already on the list below and have a clear value next to your name, then you have already submitted an EOI)
  • EOI deadline 4th July 2022 00:00 UTC The period to submit a qualifying EOI has expired and no further participation is permitted, i.e. the round is closed.
  • Cap the round at $1,000,000 USD
  • Min. contribution $20,000 (open to input here) - What is the communities thoughts on min. participation amount considering there were 2 No. submissions below the $20k threshold?
  • Priority given to largest contributors if round is maxed out
  • Priority given to those who’ve already expressed an interest to date (to ensure a whale doesn’t come in and squeeze anyone out) - These people are those who are listed in the snip below and/or handle can be found on the forum or Discord prior to this message.

Depending on the responses to Item 2 (below) the qualifying commitment for this Community Raise came in at between $860,000 - $886,000 USD. Congrats to all involved.

Now the EOI deadline has passed we have the following tasks to complete (if anything is missing please reply and list for inclusion):

  1. A decision to make wrt. to @age.wang and @benben 's submissions not meeting the proposed $20,000 USD proposed minimum threshold; do we exclude or include them? I never got any specific responses to that threshold in my original post. I’m happy to include them. Please indicate your opinion on this forum post.
  2. A need to work out the mechanism of ensuring the funds are correctly collected and $GEAR distributed in accordance with cliff and vesting terms (I assume we’ll simply copy the mechanism being used in Part 1? @ivangbi)
  3. A need to create a snapshot and formally authorise this Community Raise via the governance process.
  4. Formalise the means of use of the Community Raise, e.g. as liquidity.
  5. A need to develop a schedule for actioning the above and by whom.

Thanks

Resources/notes:
Part 1 Forum Post and correspondence can be found here:

If you haven’t voted for Part 1 please do so here (voting ends very shortly):

https://snapshot.org/#/gearbox.eth/proposal/0x3e51eb2ced35e3ce61a83333f0a5cedf4cc7380e71a8f7a493d2e0f46073f85b

4 Likes

I think that the bottom line that should not be set in the amount of participation
In this dismal market environment, perhaps $10,000 or more should be allowed to participate.

I remember @amplice wanted to participate as well.

The total amount didn’t exceed $1M and I don’t think there’s enough reason to exclude spots under $20K.
The community should allow them to participate.

I would love to participate in this investment round。 Extending the deadline until the end of this week help people like me to have enough time to understand and consider the amount of investment。
@0xBeckoningCat

If the community eventually decides to min 20K, please don’t eliminate my spot (age.wang).
I will increase my participation amount to 20K thx

1 Like

Hi folks, I had previously expressed interest directly to Ivan. I’d like to do $50k.

This is not required but just re-iterating my interest as set forth in the list @0xBeckoningCat put together on this forum. You are doing an incredible job!!

I agree in making the minimum $20,000. I think this is a no brainer.

Finally, I like extending the deadline to make sure that no one falls through the cracks! I think extending the deadline to 8th July 2022 00:00 UTC (a few more days) should give us enough time to make sure this doesn’t happen. For example, within hours of today amplice confirmed interest and amount.

That is just my opinion and I defer to the @0xBeckoningCat and @ivangbi of course.

Talk soon

Tank

@0xBeckoningCat said I should post here. I’d like to do $35k.

I want to participate in $20000, thanks team ! Thank you for this chance ! :blush: :smiley:ps. my discord ID is blacksheep#1869 , thanks as always!

Hi All,

Lobster holder here :slight_smile: I’m very interested to be a part of a great DAO community and create/vote for proposals that will benefit this DAO. I would love to put in 30k $ .

Best,

Andrew

Hello GearBox.
My name is Kiryl. Im V1 gearbox pools liqudity provider and also Narnian from the first day of comunity exist xD
I would like to support project with humble amount of 20k, just to be a part of DAO, own shares of votes and make suggestions.
Telegram @fckmyluck

1 Like

clarified the amount of “Post #69
Jul 4, 8:26 PM”, and the deadline was Jul 4, 00:00 UTC. but I was crossed out. maybe you didn’t see it?
@ivangbi
@0xBeckoningCat

1 Like

Hi guys,

Seems there’s a strong bit of support to revise EOI deadline to July 11th. I’m supportive of this and suggest also revising the terms of the raise as follows:

Proposed revised terms:

  • EOI Deadline July 11th
  • Max. Raise limit: Removed
  • Min. Participation Amount: $10,000

Lessons Learned (my opinion only):

  1. The EOI deadline was too tight considering a US national holiday long weekend and no consideration given to those of us who have real life commitments that hinder our ability to keep up-to-date with Crypto.

  2. Any future proposals/discussions should have a minimum 14 day consideration/action period before disqualifying anyone (if appropriate).

  3. Conducting a DAO raise via communication in Discord and a forum is complex and has significant drawbacks wrt. privacy, gauging real from fake intent to participate and disjointed communications leading to omitted interested parties.

Without becoming a bureaucratic nightmare and putting everything to a governance vote, please indicate your support below. If there’s no dissent it’ll be assumed the above is supported and I’ll update the table as necessary.

Thanks.

3 Likes

Hello ser I will increase my participation amount to 20K thx (In the registration form my amount (age.wang) is shown as $11,000)

hello. I will participate with $30,000. please add to the list.Thanks
discord ID - Maksim#3110
telegram - @RENTA_M

Hello.I am a strong supporter of gear.I will participate with $10000.Please add to the list thx.
discord ID: AJ hehe#8285

I want to participate in $10100, thanks team ! :smiling_face_with_three_hearts:Thank you for this chance ! I’m also one of the users who participate in the public sale . :grinning: ps. my discord ID is nuomituanzi#5308, thanks as always!

Hello
My name is Oleg.
I would like to participate with $20,000
I support the project, I am a liquidity provider in gearbox pools since the start of the project.
Please add me to the list. Thank you.
My discord - Olegan#9861

Hello ser I will decrease my participation amount to 15K thx!