On behalf of Maven 11 Capital, I have prepared the following Proposal to Tracer DAO, based on community feedback received on two previous posts on Discourse: first here and second here. This proposal has been created to incorporate the changes from the community discussed in those posts. Furthermore, I would like to thank Lion’s Mane and Adam specifically for helping me with the formatting of the proposal.
This proposal would diversify a portion of the TCR governance tokens held in the Tracer DAO treasury into USDC via a direct TCR acquisition by Maven 11 and its strategic partners, listed in the section below.
This proposal attempts to strike a balance between:
Not expending too many TCR tokens at an early stage for the protocol; and
Introducing a variety of long-term strategic partners to the Tracer DAO with a variety of specialisations, to support the DAO in areas including:
a. capital for further proposals;
b. advice based on industry experience;
c. liquidity to ensure stability of protocol;
d. networking to increase flow of opportunities for Tracer DAO; and e. diversifying the Tracer DAO to help guard against the event of any (macro) market downturn.
We note that these considerations are inspired by comments made by various members of the Tracer community in recent months, including RMIT BIH (SincDavidson), Wulfmane, Beepidibop, JustASushiChef, MordantBlack, yodges, Mark11 and Lion’s Mane.
We remind all community members that the TCR token is a governance token only, which means it allows holders to participate in Tracer DAO via its governance mechanism and provides no ownership, financial or economic rights of any kind.
|Strategic Partner||$USDC Commitment||Number of TCR Tokens||Ethereum Address|
|Distributed Global Ventures T2 LP||$225,000||5,000,000||0xb298F84eB4A1b5180a90006c8573422CD66321fc|
|Distributed Global Ventures II LP||$225,000||5,000,000||0xC572550343B4bC82734Cfb6bA28c86b350513F18|
|Maker Mafia (Nik, Charles, Gustav & Mariano)||$75,000||1,666,667||0xc304e5d59707DA4F821e136B965DDeF534FB47B1|
|Simon Cant (Reinventure)||$58,350||1,296,667||0x51164aBE5Fcd2249CEB75aC54afE0AFD8d36ad4e|
|Danny Gilligan (Reinventure)||$58,350||1,296,667||0x2Cf0DfCc4149f8CaA8F5D6614CCB339587f8F20f|
|Joyce Yang (GCR)||$50,000||1,111,111||0xb0353d0A6690B0De6C50F00A1dd4D3B227fF596b|
|Stani Kulechov (Aave)||$50,000||1,111,111||0xF5Fb27b912D987B5b6e02A1B1BE0C1F0740E2c6f|
|Ashwin Ramachandran (Dragonfly)||$50,000||1,111,111||0xd046135Ba00B0315eD4c3135206C87a7F4EB57D9|
|Philippe Perzi (MD GS)||$30,000||666,667||0x6b2633830704d9fd18daC155E7620673d8F27f1b|
|Henrik Andersson (Apollo/mStable/dHedge)||$20,000||444,444||0x20C39b973ce1987865bc0D8373e45fc1a0f085C0|
|Kevin De Patoul & Juan David Mendieta (Keyrock)||$20,000||444,444||0xE50E6Ad4bFfD91151e4441B4ACd81C8098f355ae|
|Radek Ostrowski (dHedge)||$15,000||333,333||0xb3C4C88A5A8760f0C1E9B1C618B58A21cdB336eF|
|Ermin Nurovic (dHedge)||$15,000||333,333||0xd81f3d609d4317f6de1f3d86862eb10b51645e23|
|Darren Smorgon (Sandbar Investments)||$15,000||333,333||0x69B5F5e85CE1B82b383034a1c2629c143B8E29a9|
|Kevin O’Hara (Sentor Investments)||$15,000||333,333||0x3b1E215FE1138aA9034b5E6De39892e45ac05176|
|Sid Powell (Maple)||$10,000||222,222||0xf0cf9631ee58cc8f3eec5bd8a78797c1447bb476|
|Joe Flanagan (Maple)||$10,000||222,222||0xd16295DEA1115C9df62FC35017bB359fb1E6d639|
|James Simpson (mStable)||$10,000||222,222||0x3DF1b295d394B6c77415e9659Cc1a7DBCcA76Be7|
|Marc Woodward (Apollo)||$10,000||222,222||0xb747f20b7B729d385a844ed200e8Ce914cEFc9d8|
|Rohen Sood (Reinventure)||$8,300||184,444||0x673A7f6C72b26aE0521c0F44C321650890858EC5|
Consideration, Deliverables and Variation and Termination
If this proposal succeeds, the strategic diversification will occur on the following terms:
Token Strategic Diversification
Tracer DAO will transfer 100,000,000 TCR tokens (10% of TCR token total supply) to the strategic partners.
In consideration, the strategic partners will collectively transfer 4,500,000 USDC to Tracer DAO.
Method of Transfer
Once this proposal is executed on Snapshot, each strategic partner will have 14 days to transfer its agreed amount of USDC to the DAO Treasury (Transfer Period).
If a strategic partner does not deposit its agreed amount of USDC to Tracer DAO’s treasury within the Transfer Period, any deposited USDC will be returned to that strategic partner, and it will not receive any TCR tokens in connection with this proposal.
At the end of the Transfer Period, an on-chain proposal will be pushed to the DAO to transfer the strategic partners’ TCR tokens to a vesting contract.
Once the on-chain proposal is executed, TCR tokens will begin vesting to the strategic partners.
- The tokens will vest linearly over a two year period, starting when this proposal is executed on-chain.
Variation and Termination
- This proposal cannot be varied or terminated by future proposals.
In the context of the Tracer Project, conflicts of interest include:
Existing Service Providers who are Related Parties; and
Existing (vested and unvested) holdings of TCR tokens.
All participants in the treasury diversification wish to declare the following conflicts of interest:
- No conflicts of interest to declare.
Unless otherwise defined in this offer, all terms beginning with a capital letter which are defined in the Participation Agreement have the same meaning unless the context otherwise requires.
Copyright and related rights are waived pursuant to CC0.