Set 0x Appointment Proposal

This proposal seeks the objective of:

• Appoint Set 0x as a service provider for the Hubble DAO.

Background

Set 0x is an advisory and consulting firm that has blockchain expertise and experience in launching blockchain related projects along with assistance with fundraising, due diligence and agreement drafting.

Set 0x has worked as a contributor to Hubble on an ongoing basis and has been involved in a number of notable tasks such as ( but not limited to):

1. Drafting agreements between liquidity providers and market makers
2. Carrying out the KYC process for individual and corporations involved in fundraising
3. Drafting of DAO proposals
4. Involved in the preparation of the prerequisite establishment of BVI entity Cotton Kandy Ltd, which will be a proposed signatory body for the Hubble DAO to render agreements with third party off-chain providers and contractors
5. Drafting of the Participation Agreement leading up to the Governance NFT drop and providing consulting regarding the launch.
6. Ensuring continual compliance with best practice in decentralization with reference to current standards established by trailblazing protocols like TracerDAO, ENS and OlympusDAO.

In light of Set 0x playing a proactive role with helping Hubble grow and in aiding Hubble in its journey moving forward towards launch, Set 0x intends to remain a keystone player in the Hubble ecosystem with approval from the DAO, and to execute the potential functions outlined below in a faithful manner.

Points of direct contact for the Set 0x team are listed below:

• Vincent_#9926
• Sammy the Salmon#0500

Job Scope and Consideration

The potential job scope upon appointment by the Hubble DAO is as follows:

1. Appointment to undertake investor management along with investor due diligence;
2. Drafting key agreements for important stakeholders and future partners for the DAO;
3. Consulting on the decentralization of Hubble (i,e separation of powers and future constitutional documents); and
4. Advising on general operations.
5. Drafting of governance proposals on an as-needed basis.

In executing functions pursuant to this proposal, Set 0x is to undergo its obligations in good faith and in the best interests of the protocol. Functions of Set 0x as listed above can be altered by the Hubble DAO at any time as determined to be appropriate, and Set 0x can be dismissed by the Hubble DAO at any time and without cause following the passing of a formal DAO proposal for termination of Set 0x as a service provider.

In counterparty consideration for the good faith of Set 0x and requirement of ensuring the best interests of the DAO in the execution of its delegated functions, Hubble DAO and all its constituent members in the prevention of any potential conflict of interest, shall exercise counterparty good faith by limiting the liability of the appointed service provider and waive any potential action in equity or common or civil law as potentially afforded to the individual with regards to their specific jurisdiction.

Compensation Package

Stake from Hubble DAO to vest in Set 0x: 0.125% Billable Hours (charged by task): $225 per hour

The above figures have been determined with reference to industry standards. Providing a comparative standard, firms providing similar service to the ones contained herein, i.e. in the drafting procedure of agreements, oftentimes top $500 per billable hour, as a conservative benchmark. Comparatively, $225 is relatively reasonable. As decentralization-as-a-service is an entirely new proposal, a comparative cost cannot be provided within that context. That said, service providers with the appropriate experience to carry out DAO-native tasks are scarce.

Typical packages offered by other firms in relation to provision of services similar to those delineated above do not involve a percentage stake but rather solely a monetary payment denominated in billable hours or in a lump-sum payment format. The reason why Set 0x is seeking equity is to ensure an adequate incentive alignment with the protocol in pursuit of a long-term vision. We believe skin in the game is the greatest motivator and traditional firms which refrain from taking equity (in our opinion) wrongly distance their personal financial interest from that of the clients. In sum, skin in the game ensures we are incentivized to prioritize the long-term health of Hubble Exchange in our delegated responsibilities.

The vested stake and billable hours outlined above will come from the HP001 designated equity and monetary fund pool set aside for future contributors, pending approval of this proposal by the DAO. The aforementioned 0.125% allocation will be subject to a six (6) month cliff during which period no tokens shall be awarded to Set 0x. The cliff will begin immediately following the Token Generation Event. Once the cliff period has fully lapsed, the allocated token supply shall be streamed linearly to Set 0x over a period of 24 (twenty-four) months. In numerical terms, this linear stream amounts to 0.00416% maximum vested token supply per month during the vesting period. In accordance with the terms herein, Set 0x will not be receiving any tokens in advance. Should Set 0x be removed by the DAO at any future date, tokens owed will be any amount that has been vested to that point in time, if any, on a pro-rata basis depending on the calendar day of formal removal.

As per billable hours, Set 0x will be compensated according to the tasks they carry out. Tasks will be allocated to Set 0x by the Hubble ecosystem.

Copyright

Copyright and related rights waived via CC0.