Title of the Proposal: GIP 9: Gnosis $SAFE Token Airdrop Claim and Liquidation/Delegation
Main Category + Sub Category: Core: Finance
Kudos : Ghosts#1014, Davidd#2959
Abstract : Gnosis Safe, smart contract wallet, has initiated the SAFE DAO considering its responsibilities of building and growing critical infrastructure for many web3 projects and DAO treasuries with the pressing need to decentralize its development, growth and governance. As GhostsProject DAO uses Gnosis wallet to manage its treasury, specific amount of $SAFE is allocated for GhostsProject to claim. **“Gnosis Token Airdrop Claim and Liquidation/Delegation Decision”**proposes GhostsProject DAO to claim Gnosis Token ($SAFE) Airdrop and decide whether GhostsProject DAO should liquidate $SAFE or delegate it to Safe Guardians who are the active community members of Safe community.
Discourse:
Rationale:
What is Gnosis-Safe?
- Gnosis-safe is a smart contract wallet that requires a minimum number of people to approve a transaction before it can occur (M-of-N).
- It lets projects and companies to fully customize how they manage company crypto assets, with the option to require a predefined number of signatures to confirm transactions. It requires multiple team members to confirm every transaction in order to execute it, which helps prevent unauthorized access to company crypto.
- Gnosis has launched SAFE DAO with $SAFE TOKEN as GIP-29 2 of Gnosis DAO proposed by Co-Founder Lukas Schor is passed.
- GhostsProject Treasury fund is managed through Gnosis-safe account with requirement 2 of 3 multsig-signers approval.
What is SAFE DAO?
- Safe’s mission: To make ownership in web3 more accessible, collaborative and secure. This mission will be achieved through driving smart contract accounts as a standard for owning assets, data and identity. On top of the battle-tested Safe protocol, a growing ecosystem of tools and products aims to be built, providing enhanced security and usability for web3 users.
- SAFE will airdrop $SAFE token to stakeholders including 43K users, Core Contributors, GnosisDAO, 140+ ecosystem contributors (Safe Guardians), and 60+ strategic backers who are looking forward to steward the Gnosis-Safe.
GhostsProject Eligibility
- GhostsProject are eligible to acquire 3,283.1408 SAFE 5 with currently claimable SAFE of 1,653.7392 and future claimable SAFE 1,629.4015 that are being vested.
- If GhostsProject likes to get $SAFE airdropped, we must claim of any amount of tokens until 27.12.22 10:00 CET or our allocation will be transferred back to the SAFE DAO Treasury.
GhostsProject’s option after the claim
- GhostsProject can liquidate $SAFE into USDC after the claim to acquire additional liquidity for Treasury.
- If option 1 is selected by DAO, $SAFE will be converted into USDC through available DEX.
- $SAFE is currently not transferrable, thus it will be liquidated once the transferability is enabled.
- GhostsProject can delegate $SAFE to vision-aligned Guardians of SAFE as we might not able to be active enough to participate in SAFE governance as every vote needs to be approved by GhostsProject DAO prior.
- Among Guardians, GhostsProject must choose a a vision aligned Guardians to delegate our $SAFE.
- Guardians are made of DAOs, Teams, and Individuals.
- By delegating votes to a vision aligned Guardian, we can expect the Guardian to actively contribute to the ecosystem through casting votes on behalf of GhostsProject to support the constant growth and development of Gnosis Safe.
- Discussion regarding the Guardians can be found at https://forum.ghostsproject.com/t/discussion-gnosis-safe-token-airdrop-claim-and-liquidation-delegation/193
- Two main guardians suggested were ENS and Parcel; considering the current usage of Parcel system by GhostsProject, I propose to delegate GhostsProject’s $SAFE to Parcel if DAO approves
Timeline:
- Claim after the proposal is passed
- Liquidate or delegate after the claim
Ask: Gas Fee for Claim
Accountability: Davidd#2959 and multisig-signers
Voting Option:
Claim and liquidate
Claim and delegate to Parcel