GIP 152 - Should GnosisDAO spin out the Gnosis App into an independent company?
AI summary
This proposal asks GnosisDAO to spin out the Gnosis App into a new, independent company. The Gnosis App, which has not yet achieved widespread success, aims to be an alternative money app for Europe using the Circles protocol. GnosisDAO would invest $1.5 million in cash and contribute the app's intellectual property, valued at $1 million, for a total $2.5 million investment. This investment would be structured as a SAFE (Simple Agreement for Future Equity) with a $10 million post-money valuation cap.
If passed, the Gnosis App will operate independently, allowing its team more flexibility to innovate. GnosisDAO will gain an equity stake in the new company, potentially benefiting from its future success, but will no longer directly fund the app's operations, saving $3.1 million from its annual budget. The app's team benefits from increased autonomy and a dedicated funding runway.
Voting results
Votes over time
x-axis = % of voting window elapsed · y-axis = cumulative VP per choice
🐳 Whale votes
12 votes > 5% VPFull proposal
Starting Note
Terms (& few related points) have been changed in the proposal below as explained in the comment here after the closing of the Phase 2.
Summary/Introduction
Gnosis’s consumer app (Gnosis App), so far, has been run within the Gnosis Ltd annual funding mandate ($3.1 M – see GIP 128). Over the last few months, it has also been supp…