Gearbox DAO

Motivation

Dear all, as you know, the Gearbox Foundation (the “Foundation”) was established (you can learn more in this thread link).

In order for the Foundation to operate in the best possible way, the DAO has to decide on the major short-term and long-term assignments that will be given to the Foundation, allocation of resources, as well as other matters related to its operations.

To accomplish this, we urge the community to engage in discussions and draft a GIP to be passed as a DAO resolution. The major items that we suggest to address are:

a) Assignments, for example, IP management, source code licensing, manage and maintain subscriptions with third-party services such as hostings, email providers, etc.;

b) Allocation of a budget in USDC/T that can cover the operational expenses of the Foundation during a particular term, for example, 12 months;

c) Appointment of representatives, committees, or sub-DAOs who can exercise the DAO’s rights and act as its representatives in discussions with the Foundation regarding specific subjects (so that there’s no need for the DAO to pass separate resolutions on such subjects as its representatives can provide respective instructions).

To help in this process, we have prepared a draft GEAR DAO Resolution, which can serve as a basis or sample for a DAO resolution to be adopted.

GEAR DAO RESOLUTION

By this action, the GEAR DAO (the “DAO”) hereby adopts the following resolutions and takes the following actions with regard to the Gearbox Foundation (the “Foundation”):

1. Long-Term Assignments. The DAO hereby gives the following assignments to the Foundation to be performed in accordance with its Memorandum and Articles of Association:

• (a) Accept, hold and manage intellectual property rights pertaining to the Gearbox protocol, related products, services, assets and works;

• (b) Accept, hold and manage domain names relating to the Gearbox protocol;

• © Facilitate the public access to the source code of the Gearbox protocol v2 by distributing, or facilitation its distribution under the BSL 1.1 license, subject to certain exceptions as may be determined by the Foundation from time to time;

• (d) In the event of release of any subsequent versions of the Gearbox protocol source code – facilitate the public access thereto by way of distributing the source code under an applicable open source or other license at the discretion of the Foundation, subject to certain exceptions and limitations as may be determined by the Foundation from time to time;

• (f) Facilitate the operation of the web-hosted interface to the Gearbox protocol on an as-needed basis;

Accept access to or create new online accounts with web solutions, online platforms and service providers (“Applications”), including those required for the facilitation of the technical and operational infrastructure of the Gearbox protocol, as listed in Schedule A, maintain, alter and dismiss such accounts and pay for the applicable subscriptions and fees as the Foundation and its directors may deem necessary or advisable, taking into consideration the instructions of the respective DAO Representatives (if any), as defined below.

2. Short-Term Assignments. The DAO hereby gives the following assignments to the Foundation to be performed in accordance with its Memorandum and Articles of Association:

• (a) Open and facilitate accounts with banks, payment system providers and/or other financial institutions as the Foundation and its directors may deem necessary or advisable;

• (b) Create digital cryptographic wallets to be used by the Foundation to receive, hold and dispose of virtual assets, in each case on such blockchain networks as the Foundation and its directors may deem necessary or advisable;

3. Appointment of Representatives. The DAO hereby appoints the following persons to represent the DAO before the Foundation on the respective matters indicated below, which appointment shall commence on the date when this resolution is adopted and shall expire on a one-year anniversary of such date (unless terminated earlier by a DAO resolution):

nikitakle#4627 (Discord handle) / @nikitakle (Gearbox forum username) regarding maintenance, replacement and delegation of access to the Application.

4. Allocation of a Budget. The budget of USDC 20’000 (as provided in “Schedule B”) shall be allocated to the Foundation from the DAO treasury to finance its activities during a period of the next ten (10) months, as was discussed by the GEAR DAO community (link). These activities include those outlined in the above resolutions. The budget shall be transferred as a donation to the respective digital wallet of the Foundation.

5. Miscellaneous. In pursuance of these resolutions, stakeholders and contributors of the DAO may transfer the items, materials, accounts with third-party service providers, property, and assets relating to the Gearbox protocol and/or rights therein to the Foundation.

Conclusion

SCHEDULE A

List of Applications

Google Suite CloudFlare Github NPM Alchemy (Growith-tier) Gitbook Vercel DRPC Discourse Medium Gleam Discord Figma Airtable Excalidraw

SCHEDULE B

Expenditure Budget for the period March - December 2023

Expense	Monthly Cost USD	10 Months Total USD
Accounting Software	30,00	300,00
Airtable	30,00	360,00
Alchemy (Growith-tier)	49,00	490,00
CloudFlare	25	250
Discord	10	100
Discourse	150	1500
DRPC	240	2400
Excalidraw	16	160
Figma	30	300
Gitbook	40	400
Github	160	1600
Gleam	150	1500
Google Suite	100	1000
Medium	15	150
Mobile	24,5	245
NPM	7	70
Vercel	20	200
Subtotal:	1,102,5	12,465
Reserve:		6335
Transaction fees (6%):		1200
Total USD:		20,000

Choose one of the options:

Yes, approve No, reject