[GIP-10] Strategic DAO Funding Proposal. PART 1.
AI summary
This proposal, GIP-10 Part 1, seeks to raise $5,650,000 for the Gearbox DAO by selling 376,666,666 GEAR tokens (3.766% of total supply) to several institutional investors. The funds will go into the DAO's financial multisig to support product development and achieve product-market fit, especially in anticipation of the upcoming V2 launch. The sale is based on a $150 million fully diluted valuation (FDV), with tokens subject to a one-year cliff and one-year linear vesting schedule.
If passed, the Gearbox DAO will receive $5,650,000, significantly boosting its treasury for operational and development expenses. This benefits the DAO by providing financial runway, but dilutes existing token holders by 3.766%. The investors receive GEAR tokens at a valuation honoring previous community rounds, with a vesting schedule to align their interests long-term.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Strategic DAO Round TLDR
The goal of this round is not to do DAO diversification in large quantities, but to secure financial resources to work on iterating on the product suite and achieving a strong PMF. V2 is coming and lifted capacity constraints on Credit Accounts will be an inflection point for the product. Proceeds would go to the DAO’s financial multisig for the governance to decide on the spending.
The tokens for this round would also come from the [DAO allocation](https://docs.gearbox…