[SIP - 38] - Grant to Synapse Labs

This proposal seeks to terminate the Original Agreement [https://snapshot.org/#/synapseprotocol.eth/proposal/0x30e391ac21c6f85d34361fd80ecd8baec1eaa7ec1ff3081ed5c5ed800568a52d] and replace it with a new agreement with the same core terms with Synapse Labs.

In the past year Synapse has grown substantially, accomplishing the following milestones:

• Developed and launched RFQ bridging(slippage-free bridging)
• Drove over $6m in fees to the protocol, with more than $3m in the last 3 months
• Drove $5B in bridge volume in the past 3 months
• Launched Synapse CCTP
• Maintained and upgraded products like the Synapse Frontend and the Synapse Explorer
• Received over $4M in grants

Synapse Labs has contributed heavily to protocol development, and this grant would enable Synapse Labs to provide research, engineering, and services to Synapse at an unprecedented scale.

Request:

Synapse Labs requests $600,000 USD per month to be administered pursuant to a new Services Contribution and Grant Agreement (the "New Agreement") setting forth the associated services and terms of funding. The grant should be payable in USD Coin, other stablecoins, or other tokens as agreed to in the agreement by Synapse Labs and the Synapse Foundation. The proposed agreement would maintain the same core terms and conditions as the existing agreement, except with a larger budget, and the special clause for security needs.

Upon approval of this proposal and execution of the New Agreement, the Synapse Foundation will terminate the Original Agreement with Interoperability Inc. and thereafter pay grant funds to Synapse Labs pursuant to the New Agreement.

Special Clauses:

Synapse Labs also requests an unconditional budget for all things security related, namely audits and infrastructure needs. These requests would present themselves on an on-going basis and would be disclosed to the DAO.