VIP-5 OTC Raise

Summary

In this VIP, we propose to raise $325,000 USD in return for 2.5% of the total GROW token supply. The funds will aid ValleyDAO in its mission of fostering a sustainable bioeconomy

Details

Key figures in the DeSci ecosystem have approached us and communicated their interest in becoming members by acquiring a governance stake within ValleyDAO. The parties (mentioned below) possess a unique combination of knowledge, skills, and connections that can contribute significantly to the ValleyDAO ecosystem.

To facilitate this, we propose that 2,500,000 GROW (equivalent to 2.5% of the total supply) be unlocked from the DAO treasury and exchanged for $325,000 USD through an Over the Counter (OTC) raise. This will result in a GROW valuation of $0.13 USD/GROW. These tokens will be vested over four years to ensure long-term alignment with the ValleyDAO ecosystem.

The funds will be sourced from multiple contributors, with the following breakdown:

1. James Brodie: $25,000 USD James, the Founding Partner and Chief Investment Officer at ID Theory, boasts a solid background in Biochemistry, Genetics, and Systems Biology. His extensive knowledge extends to the world of cryptocurrencies, and he actively engages in numerous projects within the decentralized science movement. Notably, in 2022, James became a Board member at Molecule and played an active role in the governance working group at VitaDAO.

2. The LAO: $25,000 USD in USDC The LAO is a global group of Ethereum enthusiasts and experts supporting the work of Ethereum builders. Launched in late April 2020, the LAO has backed over 130 projects across the Ethereum and blockchain ecosystem.

3. Beaker DAO: $50,000 USD in ETH Beaker is a newly formed Decentralized Science (DeSci) DAO, focused on supporting scientific progress by providing critical resources for research, community building, and long-term investment. The DAO brings together a unique mix of scientists, investors and founders, with cumulative expertise covering fundraising, research, academia, and has so far backed 9 projects such as Molecule, HairDAO, LabDAO, ResearchHub and more.

4. SpaceshipDAO: $50,000 USD in USDC The investment group specializes in early-stage projects on the cutting edge of DeFi, NFTs, Infra, DeSci, and Web3 social applications. Composed of builders, investors, and advocates with a strong dedication to advancing decentralized technologies, they meticulously select new members based on expertise and diverse perspectives, all in support of ValleyDAO's multifaceted endeavors.

5. ID Theory: $75,000 USD in ETH ID Theory is a pioneering multi-strategy crypto fund, actively engaging in decentralized networks and investing in emerging trends. With a keen focus on DeFi, Infrastructure, and DeSci, it remains at the forefront of the crypto-native fund space. ID Theory has made substantial contributions to the decentralized science movement, exemplified by its contributions in Molecule, BeakerDAO, VitaDAO, LabDAO, HairDAO, and AthenaDAO.

6. Anonymous: $100,000 USD in USDC With their extensive network and experience, the backer is poised to bring significant value to ValleyDAO, given their history of supporting DeSci projects.

The funds raised here will be strategically used to expand our IP portfolio through research funding, hire senior talent to source more and higher quality deals, and develop the ecosystem. Moreover, the raise connects us with strategic partners who can assist in securing subsequent funding rounds for future growth.

We are confident that with the support of these esteemed contributors, we can further our mission of fostering a sustainable bioeconomy.