Author: gcrfriend#6522 Start Date: 11/16/2021 11PM ET End Date: 11/20/2021 12PM ET

Summary

We propose to swap up to 350,000 GCR tokens with strategic partners and members in exchange for $1,225,000 USDC.

Motivation

The GCR Treasury (GCRdao.eth) currently is composed of GCR tokens. We are looking to diversify the Treasury with stablecoins such as USDC while bringing onboard world-class partners and collaborators to further expand and advance the next stage for GCR.

Specification

We are exchanging up to 350,000 GCR tokens held in the DAO Treasury to strategic partners and community members for $1,225,000 USDC at 3.5 USDC per 1 GCR at an implied fully diluted token valuation of $35M.

Up to 20% of exchanged tokens will be reserved for community members and the rest will be allocated to partners and collaborators. All proceeds of this strategic diversification will go directly to the DAO Treasury.

Strategic Partners and Collaborators

Below is the list of strategic partners and collaborators along with allocation (in USDC):

Strategic Partners	Allocation (USDC)
IDEO	$300,000
1kx	$50,000
Valhalla Capital	$50,000
HanDAO	$50,000
GBIC	$50,000
Jeff Zirlin / Axie Infinity	$150,000
Bowen Wang (DDEX/SMRT Labs)	$75,000
Gabby Dizon / YGG	$25,000
Beryl Li / YGG	$15,000
Jeff Holmberg / YGG	$20,000
Jaynti Kanani / Polygon	$20,000
Bobby Ong / CoinGecko	$25,000
Adam Kornfield / Flamingo DAO	$50,000
Adam Winnick / House of Medici	$10,000
Jenil Thakker / Coinvise	$25,000
Miss ₿itcoin Mai	$10,000
Shiliang Tang / LedgerPrime	$25,000
Samantha Yap / YAP Global	$10,000
Zhuoxun Yin / Magic Eden	$10,000
Syndicate Protocol	$10,000

Community Contributors

Lastly, up to 25% of the treasury diversification round (87,500 of GCR) will be reserved for the community, and will be subject to the same vesting conditions as offered to the strategic partners.

Vesting Conditions

Strategic partners and collaborators will be subject to a vesting period with a three-year vest with a one year cliff.

This means the full amount will be liquid at the end of three years from the passing of our proposal.

At the one year cliff, 33% of the tokens will unlock, followed by vesting linearly for the remaining two years.

Vote

The ‘Single choice voting’ Snapshot voting system will be used for this proposal, meaning each voter must hold at least 1 GCR token to be able to vote and may select only one choice:

Yes - Approve the exchange No - Decline the exchange