VIP 14 - New Leadership and Roadmap

Revised Proposal: VIP 14 - New Leadership and Roadmap

Summary: This proposal seeks approval to grant Greats Wyckoff the access and resources necessary to establish a new core team, including the transfer of multisig keys and all other development-related access. This is essential to relaunch Varen, develop two new associated products (three including Varen Swap), and position the project as a leader in the cross-chain DEX and defi space.

Proposal: We are proposing to give Greats Wyckoff, a respected and long-time member of the VRN community, access and resources to form a new core team that will take over the management and future direction of the project. The core team will focus on relaunching Varen and driving development of two new products, Varen Rebalancer and GasLock.

This proposal includes the transfer of multisig keys to the new core team, led by Greats Wyckoff, and the resources needed to continue the development of Varen and its ecosystem. The new team will carry forward the VRN token and all associated social channels. Additionally, the website www.Varen.fi will be revamped.

Multisig Holders Proposed: Greats Wyckoff Bug DrTurtles Palis (Pending confirmation)

Three of four multisig signers are required to move funds. If Palis agrees, the proposal passes with 3 of 4. If Palis does not agree, it will be 2 of 3. This decision will be finalized within the Discord community.

Roadmap: By the end of 2024, we will release a detailed roadmap for the product line, along with a teaser video highlighting the upcoming products and the revamped website. Full launch of Varen Rebalancer and GasLock is targeted for early 2025. These products are expected to require minimal development and should be ready in the first part of the quarter.

Proposed Core Team: Greats Wyckoff - Project Team Lead 1 (Varen Rebalancer & GasLock) MacMoriano - Project Team Lead 2 (VarenSwap) Kamran - Lead Developer Green Panda - Marketing & Socials Bug - Community Manager (Sir) DrTurtles - Consultant

Note: Mac’s proposal for VarenSwap will be addressed in a separate formal proposal, which will include its funding and development requirements.

Funding and Compensation: Greats Wyckoff will personally fund the project. In return, he requests access to 400 $VRN per month to allocate towards team building and operations, starting December 1, 2024 and continuing through 2025.

Additionally, Greats requests tiered bonus compensation for the team if the market cap (MC) reaches specific targets by the end of 2025. The bonus will be structured as follows:

25% of bonus allocation at $2M market cap 25% of bonus allocation at $3M market cap 25% of bonus allocation at $5M market cap 25% of bonus allocation at $7.5M market cap

Bonus allocation is 3,000 $VRN (250/mo). If any or all targets are not reached by EOY 2025, remaining bonus is voided.

These bonuses will be back-paid if necessary, and the team will receive their incentive payments monthly over the same timeframe.

Greats is bringing his own operations and development team from a previous project to support the development and launch of these products.

Rationale for Changes:

Balanced Bonus Structure: The tiered bonus approach better aligns incentives with incremental success and avoids overly concentrating rewards at a single market cap threshold.

Decentralization: The updated core team structure decentralizes decision-making and project leadership by giving MacMoriano equal status as a project lead for VarenSwap, thus allowing for greater collaboration and avoiding centralized control under one leader.

Staggered Multisig: The multisig structure allows for flexibility while ensuring decisions can be made with a strong majority consensus. The decision-making process will be transparent and take place within the community.

Revised Compensation: The base allocation has been adjusted to 400 $VRN per month, reflecting a more sustainable funding structure while still allowing the team to grow and develop the project.

This proposal strikes a balance between incentivizing the team and ensuring that the project's leadership is decentralized, with multiple stakeholders contributing to the vision and success of Varen.

VOTING

FOR: Pass prop AGAINST: Do not pass prop