Abstract

This proposal seeks DAO authorization for MetaLeX to initiate creation of the Everclear Grants BORG. 

Motivation & Rationale 

This proposal authorizes MetaLeX to establish a cybernetic organization (BORG) dedicated to Everclear ecosystem grants, funded by Everclear DAO. 

The Grants BORG will manage grant funding efficiently, aligning with Everclear DAO's mission to foster ecosystem growth.

Specification

MetaLeX and MetaLeX BORGs

MetaLeXprovides hybrid legal/tech solutions, including DAO-sponsored cybernetic organizations (BORGs). These structures enhance efficiency, transparency, and accountability compared to traditional legal entities.

Each MetaLeX BORG consists of:

• A Cayman Islands foundation for tax optimization, ownerless structure and limited liability.

• A SAFE multisignature smart contract to manage assets.

• Legally binding Bylaws enforcing DAO-approved policies.

• Onchain smart contract implants ensuring automated governance.

• Offchain failsafe mechanisms for legal oversight.

• A custom MetaLeX mini-app for management and monitoring.

MetaLeX has provided BORG solutions for zkSync, Lido, Curve, MetaCartel, and Neutron, using the battle-tested SAFE smart account core.

Proposed BORG Details

Following discussions with Everclear contributors, this proposal authorizes MetaLeX to form an Everclear Grants BORG to allocate grants for initiatives benefiting Everclear users and contributors.

The Everclear Grants BORG is designed to incentivize key protocol volume drivers while allowing flexibility for other high-impact initiatives.

The grant scope includes:

• Incentives for volume drivers (market makers, solvers, bridges).

• Software & systems R&D, marketing, and ecosystem expansion.

• Governance & coordination initiatives that provide long-term benefits to Everclear users.

Key Features:

• Cayman Islands foundation with tax-exempt status.

• SAFE multisig governance with an initial set of signers.

• Funding: 100 million CLEAR from the DAO, allocated for a 2 year grants program - pending further EverScale discussion and formal vote

• Onchain enforcement via MetaLeX OS:

• Note - details on any onchain enforcements will be decided on within EverScale proposal discussion.

• Offchain enforcement:

• Independence from Everclear Foundation & Labs.

• Conflict of interest policies.

• Supervisor for general oversight, DAO ability to appoint Emergency Supervisor to handle egregious misconduct.

BORG Multisig and Governance

4/6 multisig governance model:

• 3 Everclear Foundation members

• 3 DAO delegates and/or GTF members

• At least one non-Foundation signer is required per transaction.

• 1 Foundation Director will be appointed as the BORG entity Director.

Steps to Implement & Timeline

1. DAO vote  -- authorizing MetaLeX to commence work and fund setup costs. Upon passing:

   a. MetaLeX completes Cayman Islands entity setup b. MetaLex completes production deployment of smart contracts and BORG web app. c. Vote to be created Monday Feb 11th the latest.

2. EverScale RFC - decided on open questions such as BORG signers etc

3. EverScale DAO vote -- funds the BORG which should be completed by the end of February so Grants program can start in March.

Timeline

• Start date: Metalex initiates work upon the vote passing

• Completion date: March 1

• Note: BORG should be funded by the end of February so the Grants program can start in March. 

Overall Cost

• Total costs:

  • $70K -- MetaLeX setup, legal drafting, smart contract deployment, and 2-year support.

  • $26K -- Cayman Islands legal counsel for incorporation.

  • $11.5K per year -- Cayman Islands entity maintenance.

• Immediate costs: Executable part of this proposal will fund: 

  • $35k USD (half of the 70k MetaLex fee) 

  • $26k needed for incorporation

  • 10% of the costs as a buffer

Based on the current price this is - 1,600,000 CLEAR (Price $0.042)

Note: The other half of MetaLex fee and 11.5k for maintenance will be paid out upon BORG funding.