Summary

Following our successful TGE Auction on the Bio.xyz Launchpad, several strong supporters of Cerebrum did not receive participation despite early and even repeat bidding attempts in several cases.

At auction closing, Cerebrum had 435.07 ETH bid and 327.04 ETH filled, leaving 108 ETH unfilled.

Cerebrum Phase 1 Governance in the Discord Governance Forum passed a proposal (link below) advance the proposal to this Snapshot Governance vote.

Proposal

This proposal is to enable participants in the Bio.xyz Launchpad Auction event who had their bids go unfilled with an opportunity to participate with matching bid amounts via an OTC event. Participation is subject to certain conditions and restrictions as the bids were unfilled at prices below the clearing price.

The benefits of this proposal for Cerebrum are:

• more capital to the DAO to fund research and grow value at modest dilution (approx 1.5% of supply)
• continued early participation from several longer term supporters

We do not think this OTC proposal will diminish the secondary market demand for NEURON. The OTC is available to all unfilled bids, regardless of size.

Qualification

Only wallet addresses that were unfilled in the TGE event will be qualified to participate. These are identified in the Bio.xyz Launchpad Auction results here as "Refunded" or "Outbid".

Key Terms

• Raise up to 108 ETH from TGE auction bidders whose bids failed in the public auction
• OTC participants can only fund up to the amount of their unfilled bids in the TGE auction
• OTC participants will pay the same price per NEURON as all other TGE auction participants
• OTC participants' NEURONs will be locked-up and restricted from transfer for 12 months after which all OTC NEURONs will unlock
• OTC participants must send the required funds to the Cerebrum DAO multisig from the same address they used to bid unsuccessfully in the TGE auction.
• Upon receiving funds from a qualified address, Cerebrum will transfer the appropriate number of OTC NEURONs to a Sablier lockup contract registered to the address within 24 hours.
• DAO will report to the community the outcome of the OTC event and evidence of the Lockups onchain
• The DAO will make best efforts through available channels to communicate this opportunity to all qualified OTC candidates.