Make the $GEAR token transferable. That’s it, That’s all.
Motivation:
This proposal is building on initial token launch ideas from this forum:
Rationale:
I think the DAO has done a great job with GearBox to date, V2 is live, TVL is growing, utilization is healthy and GearBox has found product market fit.
The DAO has expressed interest in making the $GEAR token transferable and have laid out some plans to do so (sited above).
In my opinion, however, the proposals are over engineered and sub optimal in terms of overhead and goals. Governance should not decide how volatile a token is, what price it is launched at, and how to match buyers with sellers. The free market decides those things and nothing can prevent a token from “dumping”, if that is the concern. Not to mention that adding more overhead for the developers for a simple token launch is a poor uses of resources imo.
A gnosis auction will simply take all demand for a token out of the market before it goes live, leaving only sell pressure once the liquidity is paired in a pool. A liquidity mining program would be useful but it requires an audit as well as planning.
The best path forward imo would be to simply make the token transferable, let permissionless markets match buyers to sellers and in the meanwhile the DAO can focus on a liquidity mining strategy without having to rush an audit or delay the launch further.
Conclusion
Make $GEAR transferable without any other dependencies and let’s move governance on to more important aspects of GearBox protocol.
100% support this proposal. There’s no need to tie token transferability with anything else. All other DAO’s with a locked token simply just voted to unlock the token, nothing more nothing less.
Totally agree with your proposal, please create a vote to unlock the gear before 12.15. The team can focus on the unlocked marketing (educate users, develop habits, market expansion marketing plans, improve TLV) instead of the current complex and unproven successful solutions (very time-consuming, Both damage early supporters and outsiders’ evaluation of gear)
Think the current DAO voting doesn’t work reasonably.
A SBT kind of thing should be used to make possible that everyone is equally voting and holds fair voting power, otherwise this just looks like a big token hodler’s game, which may not truly reflect what the majority is thinking.
