[GIP-31/3] Just make $GEAR Transferable

Simple Summary:

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.

11 Likes

I fully support this proposal.

2 Likes

Finally, let’s get this through for voting. Let the free market decide the value of Gear.

2 Likes

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.

1 Like

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)

  1. There is no team, it is a DAO. You can code and technically be a team btw :smiley:
  2. Current developers are not doing anything with the token, so there is no loss of time.
  3. “Before 12.15” why this date, how did you make it up? There are no “cliff unlocks”.

This message is insanely spamous lol. Do better.

Fully support this proposal. Things have gone so complicated and there are bad sentiments among ppl. Simply let the free market ride!

This proposal is option 3 in the GIP-31: Snapshot

1 Like

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.

1 Like

Fully support this proposal. Things have gone so complicated and there are bad sentiments among ppl. Simply let the free market ride!

1 Like

Update to this proposal:

In light of data from a citation I made here in regards to ACX, I think in the curent market conditions @0xcider’s approach is for the best.

Therefore I would like to retract this proposal idea and my support for it as it would probably lead to negative effects upon $GEAR launch.

1 Like