SP10 - Onboarding New Strategic Contributors

Authors: benjacobs.eth

Implementation Lead: benjacobs.eth and sloss.eth

Summary:

Approve Seed Club Foundation’s strategic distribution of 1 million $CLUB (10% of outstanding $CLUB supply) to new strategic partners

New partners will commit (1) financial capital: 15 million USDC in total, and (2) their time and effort to contribute to Seed Club and its ecosystem. In return, the strategic partners will receive 1 million $CLUB tokens to participate in Seed Club.

Motivation:

Seed Club is on a mission to aggregate the highest quality talent network in web3, in order to launch and accelerate world-changing web3 communities. This proposal enables us to strengthen commitments with existing collaborators and onboard a new group of world-class investors and builders into the Seed Club community. These strategic partners will propel Seed Club and its projects forward by providing mentorship, connections, and hands-on implementation.

The onboarding of these partners to our community will involve a financial contribution as an on-chain commitment to Seed Club’s future. The 15 million USDC contributed by the new partners will be used by Seed Club Foundation to thoughtfully grow the ecosystem. This may include compensation for existing and new contributors, strategic grants and new initiatives which further drive growth. Most importantly, the USDC commitment will diversify the overall treasury, ensuring long-term sustainability of Seed Club.

Specification:

Stewards and contributors of Seed Club have identified these strategic partners as important contributors to Seed Club. The strategic partners have agreed to terms drafted by Seed Club’s legal counsel. The terms require both a capital and participation commitment.

Strategic partners receiving $CLUB have agreed to a 3-year vesting period with a 12 month cliff in order to ensure that Seed Club and the strategic partners are long-term aligned.

Once USDC is contributed by the strategic partners to that same Seed Club Foundation wallet, $CLUB will be placed in vesting contracts for the strategic partners, in accordance with the vesting schedule

The Strategic Partners invited to formally join Seed Club are as follows: Union Square Ventures The Chernin Group Placeholder Ventures Collab + Currency Blockchain Capital Framework Ventures IDEO CoLab Ventures Distributed Global Kindred Ventures Nascent Multicoin Capital The LAO Road Capital Hutt Capital AngelDAO 10 individual participants

Vote:

Yes - Approve the distribution of 1 million $CLUB as per this proposal No - Do not approve