Gearbox DAO

Author

nikitakle & mugglesect

Summary

This proposal is aimed at approving:

1. The VIBES initiative requests additional GEAR and USD funding to further increase Gearbox’ visibility across communities worldwide. The previous [GIP-184] is being put into action, while further commitments are being made that require additional funding. In light of Asian marketing plans for Q1-Q2, which will be described below, an extra $450,000 in USD-denominated assets and 65,000,000 in GEAR (which is equivalent to approximately $540,000 today) are requested. That is planned for Q1-Q2.

As always, all expenses will be communicated openly. Since its inception, VIBES has always had a buffer remaining in its multisig, which gets rolled over further unless dismantled. The proposal is made with a buffer in mind so that the marketing and outreach activities can continue in full swing. You can learn more about VIBES on Notion and see its past spending.

2. Approval of the signing of the agreement with relevant service providers and/or their associated entities, including those d/b/a VSG or Capstone, aimed at the marketing promotion of Gearbox Protocol. Key terms of the agreement: Service duration: 6 months (180 days); Agreement cost: $645,000, with half paid in USDT/USDC and the other half in GEAR tokens, at a token price of $0.01.

3. Providing authority to the Gearbox Foundation to sign the specified agreement with relevant service providers and/or their associated entities, including those d/b/a VSG or Capstone, take actions, and enter into transactions at their discretion to carry out the decisions made here, as long as it makes sense and appropriate under the circumstances.

Specification

Gearbox Protocol has a few upcoming releases, some of which were communicated in the roadmap plans for 2025. To increase their mindshare and protocol usage, it’s imperative to have stronger marketing both for the products and the utility of the protocol. As a result, a larger marketing expenditure is planned.

Asian Marketing Budget

This proposal seeks approval for additional funding for the VIBES initiative. Furthermore, it aims to approve entering into an agreement with one of the leading Asian marketing teams, under the terms outlined above, as well as granting authority to the Gearbox Foundation to sign this agreement.

The majority of the budget from the additional funding requested in this GIP will be allocated specifically to this cooperation with the specified company. Considering that the company has received positive feedback from major crypto projects, the proposed budget appears justified. This will significantly support the marketing promotion of Gearbox Protocol in Asia.

Additional Budget

The remaining budget on top of that is requested to avoid creating new proposals once new marketing initiatives get finalized. If this proposal were to pass, the funds would be allocated to VIBES from the financial guard. VIBES activities are reported in the list of transactions and are only used if required.

Next Steps

The funds will be transferred to the VIBES multisig for discretionary spending within the communicated agenda list if approved. You can learn more about VIBES here

By adopting this resolution, the GEAR DAO approves:

Additional funding for the VIBES initiative for Q1-Q2 of 2025 in the amount of $450,000 in USD-denominated assets and 65,000,000 GEAR (which is equivalent to approximately $540,000 at a token price of today). Entering into an agreement with relevant service providers and/or their associated entities, including those d/b/a VSG or Capstone for the marketing promotion of Gearbox Protocol. Providing authority to the Gearbox Foundation to sign the specified agreement with relevant service providers and/or their associated entities, including those d/b/a VSG or Capstone, take actions, and enter into transactions at their discretion to carry out the decisions made here, as long as it makes sense and is appropriate under the circumstances.