[GIP-10] Strategic DAO Funding Proposal. PART 1

I think the vesting schedule is too short. Those who truly believe in GEAR will not object to the 4 year vesting period. Those who do not believe are already a potential danger.

Hi!
I would like to participate in the private sell.
You can write a lot and for a long time how good I am and let me invest that I like Ivan (although Ivan is a really cool guy))) and the CEO, but it’s all just lyrics.
In general, the team’s approach is very productive and it seems that with burning eyes, one wants to believe in such teams and projects.

I’ll buy this,we could put it to vote ASAP if there is no more alternative

Congrats on this funding opportunity, most likely I will vote FOR on behalf of my delegators from CN community and myself.

Ivan, you and your team are doing well. Interesting to follow you since drops. I currently provide liquidity in your pools and I would like to participate with 20K$ or so.

Happy Monday morning ya’ll. Catching up on the forum etc. it looks like there’s general consensus to move forward with the DAO vote on securing the ~$5M funding raise at specified terms, yes? Some dissent but at a high level it appears to be in the minority and as such the vote will pass.

Wrt. to other interested parties and a further raise; I’ve collated the available information from the forum into the table below. As you can see some people have indicated a desire to participate but not stated how much exactly or have stated a range. Whilst this is good it needs further clarity. I suggest we have a period of 7 days for those (and any additional) parties to clarify their intent and the value they’re seeking to contribute.

Shall we confirm the terms for involvement in the raise? I suggest;

  • 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. (I mean; you should know how much you’re prepared to pony up, right? Otherwise how much thought have you given it?)
  • (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
  • Cap the round at $1,000,000 USD
  • Min. contribution $20,000 (open to input here)
  • 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.

Happy to hear your thoughts. Thx

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Ser,I’m not gonna join in this round while I totally support your proposal,I’m inclined to future token sale event

Even though I unfortunately can’t make a valuable contribution to the further development of the project at the moment except for my small investment at the beginning, I would like to award the team and the community for your incredibly intelligent work here. I am glad to be a part of gearbox and I am very excited to see where the journey will lead and how solutions will be found.
I would love to support even more if I could…
Many thanks to all involved!!!

Hello DAO
First of all, I want to say that I am glad to be part of our team, I am a delegate with a small share of GEAR tokens ~600k, taking into account my tokens received for early activity of discord, testnet and mining CA, as well as part of the votes delegated to me from crypto narnia chat participants (thanks for your votes friends)
As you can see, I am an early member of the community and would like to support the project with a small check of ~50k
This will allow me to increase the share of votes so that I can make suggestions to the DAO

1 Like

I apply to invest Min $10000 max $20,000 thx

Whether to be locked and the locking time and release method?

Hi folks,

Seconding @0xBeckoningCat’s post here.

  1. I think it’s clear that the community supports the raise from the proposed list of investors under the provided terms. I understand the project is in fine financial condition but I support the quick approval of this fundraise.
  2. Agree with the methodology and capping the raise from this 2nd batch of contributors. Again i want to emphasize that we earmark the funds as POL until the token is launched and/or unless Gearbox team determines it needs the funds for operations.

Thanks all

Tank

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I second @0xBeckoningCat’s post. Really well thought out terms, open, and fair.

The timeline also seems fast-paced, but not rushed. Hopefully we can keep governance this nimble as the DAO grows.

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This is amazing, thank you. Noted & agreed on all. Will make main Part 1 snapshot tomorrow.

Hello Ivan / Gearbox
my name is Yugo .Im Rank : 2 degenscore ( https://degenscore.com/profile/banana )

Im interested to invest $130k in this round

happy to be part of gearbox community.

2 Likes

Hi guys.

This message is to serve as a bit of a reminder to those who’ve expressed that they’d like to join but provided a range or simply an intent, that to cement your place in this round you need respond with exactly how much you’re contributing before the EOI deadline.

Just an update on where we’re at:;

  • If everyone who has yet to clarify their involvement contributed their max then this round would be effectively full at $980,000 of the $1,000,000 MAX.

  • To date we’ve had $780,000 of qualifying interest.

  • Deadline for Expressions of Interest is fast approaching at July 4th 00:00 UTC

I’ve updated the table as per below and I’ll tag relevant parties as well as post this in Discord.

Tags:
@Maksim @berusnet @Border @akita @ludlows344 @Ivan062 @maclane @Sha256 @llamacorn @age.wang

Please provide clarification or you will not be participating.

Please refer to previous posts on T’s and C’s of raise.

Cheers.

1 Like

That’s one hell of a mighty impressive score. Bravo! Glad to have you on board.

I, Ivan062, will participate with 30000$. Thank you for wrapping up the info

hey, I’ve been an early bird & credit account miner. Interested by the proposition, my participation is 15k$ (Discord ID: ben.ben #1365, I’ve been a contributor at SourceCred from time to time)

@0xBeckoningCat

I age.wang (discord ID:Age#5397)will participate with 11000$ As always, thank you

Thank you for the amazing work @0xBeckoningCat taking the next steps as per your guidance.

  1. Renamed the topic to " [[GIP-10] Strategic DAO Funding Proposal. PART 1".
  2. Made snapshot to vote (3 days, as always, quorum rules are here).

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

Now, as for the PART 2, I would suggest the following:

  1. Make a new topic in “Main” section of the forum, name it “DAO Funding Proposal. PART 2”
  2. Use the sheet as per your above message
  3. Now, a few newer pointers I think it is worth thinking about…

While the DAO is decentralized, which is true in nature and facts - I am not sure if putting the funds in the treasury which seem like “people saying they want to invest who are retail and fully anon” is a great idea. That might put the DAO funds and operators in some jeopardy? Imagine someone maliciously sending funds that were from a hack? Doesn’t sound bueno. Let’s NOT use those for operational expenses.

I believe the extra demand should funnel into pre-constructing an LP strategy. So it can simply go to a different community multisig and await its destiny as the DAO figures out the initial transferability plan. Wdyt, what’s your opinion @ov3rkoalafied? This still allows for participation but alleviates risks?

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