Proposal

Invest $50k in Den Technologies.

Context

Den (https://www.onchainden.com) provides a self-custodial, multi-signature wallet for on-chain organizations. Teams, including DAOs and traditional organizations, use Den for managing protocols, interacting with DeFi, executing on-chain operations, and more. Den is built on top of the Safe Contracts (formerly Gnosis Safe). Over $5B in transaction volume has been processed through Den, with just under $1B in volume last year and over $3B so far this year. At Alchemix, we have been using Den for a large chunk of our multisig operations, and we have been more than satisfied with the features that the suite provides as compared to the features available on the Gnosis Safe UI. The suite has also helped us with our financial accounting requirements, making it easy to track the movement of treasury funds. The Den team is currently raising money to expand their team and develop a new product to add to their suite of services. This product aims to address the security needs of multisig operations teams, providing automated checks on transactions, protection against UI impersonations, etc. Alchemix has an opportunity to be part of this financing round and invest $50k. Due to the financing round being private, no information can be shared publicly about the valuation. The acquired ownership would be through traditional equity (non-tokenized) via the form of a SAFE note without vesting. The deal would be signed by the Alchemix Association on behalf of the Alchemix DAO.

Voting

Voting is single-choice.

• Yes, invest $50k in Den Technologies
• No, do not invest in Den Technologies
• Abstain