Gearbox DAO

Authorising the Gearbox Foundation to enter into an agreement with Crystal Blockchain B.V. and/or associated entities.

Motivation:

With the growth of Gearbox Protocol and the increase in the number of users, along with recent trends in cryptocurrency industry regulation, it is advisable to implement additional wallet checks for users of Gearbox Protocol. The services may include, among other things, wallet checks, transaction monitoring, etc.

A reputable solution on the market is Crystal’s solution (https://crystalintelligence.com).

The cost of this service under the agreement is $30,000 per year (100,000 checks per year), with an additional cost for exceeding the annual check limit.

The estimated number of wallet checks per year is 100,000, but this number is not final and will depend on various factors.

Therefore, we request that GEAR DAO approve a budget reservation of $30,000 for the first year of the agreement with Crystal Blockchain B.V. and/or associated entities. Additionally, GEAR DAO approves the terms of the agreement for additional payments if the number of checks exceeds 100,000 in one year. The additional cost under the agreement for exceeding the annual check limit may range from $6,000 to $75,000 (depending on the number of extra checks).

Funds Management:

The funds will be disbursed from the Gearbox Foundation wallet. Therefore, prior to signing the agreement, GEAR DAO will transfer $30,000 to the Gearbox Foundation wallet, enabling the Foundation to make the payment under the agreement. Additionally, if there is a need to purchase an additional check package during the year, GEAR DAO will, after receiving a notification from the Foundation (via Discord, Telegram, email, or other communication channels), transfer the necessary additional funds (ranging from $6,000 to $75,000) to the Gearbox Foundation wallet.

Additionally, this resolution authorizes the Gearbox Foundation to extend the agreement for the second year if the Foundation deems it appropriate. The price for the second year may increase by up to 10%.

By adopting this resolution, the Gearbox Foundation has the authority to make agreements, take actions, and enter into transactions as they see fit to carry out the decisions made here, as long as it makes sense and is appropriate in the circumstances.