MIP - 6

PROPOSAL OUTLINE Enter into an Over The Counter (OTC) agreement with @0x7d54 for a Treasury Swap of ETH (or USDC) to MOZ.

SPECIFICATIONS 0x7d54 (https://twitter.com/0x7d54) has expressed interest in engaging in an OTC agreement with the MozaicDAO.

As an already active and engaged community member, the core contributors believe this agreement perfectly aligns with our community-centric ethos. Below are the pre-agreed upon terms.

PRE-AGREED UPON TERMS: 100 Ξ (priced @ $2000) OR $200,000 USDC @ $0.02 per token Total tokens: 10,000,000 MOZ or 1% of the Max Supply. Four month cliff (lock), with four months linear vesting after the cliff.

• 90% of the funds will be used to fund and speed up development, for marketing and for core contributor salaries.
• 10% of the funds will be used as POL, to be deposited into the Hercules Vault and used at the DAO discretion.

JUSTIFICATION 0x7d54 has also expressed interest in becoming an active and engaged community member and has to our knowledge already actively been buying MOZ on the open market. He has and will further take an active stance in helping to steer protocol in a healthy direction. In addition to the ~30 ETH that 0x7d54 has invested into MOZ to date and this ~100 ETH OTC arrangement, they have signalled their intention to invest another 70+ ETH to accumulate more circulating MOZ in the coming months.

0x7d54 Wallet: 0x7d544a853DbcD39a53315E7002F4951a6D2F080d

To give a breakdown on development costs and runway:

• $9,000 (monthly) for salaries for the core contributors each month
• $25,000 (monthly) for development*
• Audit(s) with Trust Security
• $7,500 (total) for marketing

*Currently employed:

• CTO and Senior Solidity Engineer (@JR )
• One Full-time Solidity Engineer
• One Full-time AI Engineer (@tomi )
• One Front End Developer (@HarryPotter )

Each developer have stayed with the project in some capacity regardless of the protocols ability to pay them a fair salary. Currently, they have accepted partial salary terms that do not reflect what they should be paid because they support the protocol vision. Outside of this the protocol does from time-to-time contract other part-time or single payment services for various developers.

A separate runway with/without the GMX grant will be published as soon as possible. These funds will cement our ability to release the Arbitrum vault, while allowing the protocol to simultaneously start development for its third vault.

OVERALL COST The cost to the protocol would be in the form of acceptance of the agreed upon terms. Restated:

100 Ξ (priced @ $2000) OR $200,000 USDC @ $0.02 per token Total tokens: 10,000,000 MOZ or 1% of the Max Supply. Four month cliff (lock), with four months linear vesting after the cliff.

TIMEFRAME Proposed Discussion - 48 hours (closed) Call Out - 36 hours (closed) Snapshot Voting - 72 hours (ongoing)

STEPS TO IMPLEMENT Upon approval, the core contributors will:

1. Coordinate with 0x7d54 to establish a specific time for the agreement execution.
2. Receive the funds to the treasury wallet (0x26E17aDa97868A75FFbF01bB36DC84dcAC180f83), as agreed upon by both parties.
3. Execute the Hedgey contract after payment has been received, with the cliff and linear vesting as stated.

CONSIDERATIONS Quorum threshold (4,000,000 xMOZ) - increased.

Snapshot voting requires at least 65% of the vote weighting for a proposal to be considered 'APPROVED'

KEY TERMS/ADDITIONAL INFORMATION '0x7d54 is a university professor of human genomics and computational biology IRL with an avid interest in blockchain technology and decentralized finance innovation. They are a long-term investor / major community contributor (always unpaid) for Yearn Finance, Pendle, and STFX (and previously Abracadabra and Alchemix), and most recently Empyreal, helping to identify potential strategic product directions, developing DAO proposals, and the like.'

Source: 0x7d54.