GIP-5: Pause & Re-Envision

Authors: homerfan33, cr1st0f, Adam, Ethan

Background: There is an overall lack of clarity for Goblin Sax in the current legal environment. We have paused lending activities indefinitely. While we explore legally compliant paths forward, it is prudent to pause all further activities.

Proposal: This proposal is to, effective immediately upon the vote passing:

• Pause Autopilot product development activities
• Pause fundraising activity
• Pause legal entity set-up until we have a second proposal that outlines the vision for Goblin Sax (see next step)
• Ask core contributors to explore and propose a legally compliant vision for Goblin Sax within 30 days, which will include: *Discussions with legal counsel *Audit and accounting of past transactions *Discussion with key token holders *Assessing market opportunity for Autopilot and/or investment syndicate End employment contracts with all core contributors, effective September 15, 2023. Compensation payments will be made through September 15, 2023. *Any further employment decisions will be made through future proposals.

Concretely, the tasks required to pause all activities, to be carried out as soon as this proposal passes:

• homerfan33 to pause development with ChicMic and make sure all outstanding payments are made to ChicMic
• cr1st0f to ensure any loan defaults are disposed of in a timely way
• Ethan, Adam, cr1st0f, and homerfan33 lead the exploration of a legally compliant vision for GS

Specifically the paths forward that will be explored:

• Creating a corporate entity for Goblin Sax and building Goblin Autopilot within that entity
• Acting as an incubator and investment syndicate for the NFT finance space. This is a well established structure from a regulatory standpoint and tooling exists to implement this structure as a DAO, for example, Tribute Labs.
• Spinning off the Autopilot product as our first incubated project. Further details around this will be discussed and voted on in the near future. This will allow the Autopilot team to act without the overhead of DAO governance.
• Returning funds to investors

Further proposals will lay out the details for the future of the DAO and allow token holders an opportunity to discuss and vote on this.

Cost: N/A

Next Steps: If/when this proposal passes, core contributors will write a proposal that outlines the long-term vision for Goblin Sax within 30 days.