Should GnosisDAO fund LabDAO?
title:Should GnosisDAO fund the LabDAO project?
author:Niklas Rindtorff
status: phase-1
type:Funding
created:2022-05-20
Simple Summary
LabDAO is a decentralized science community developing a set of tools for scientists to coordinate online. These tools include 1) an exchange for laboratory services, 2) an onboarding and team-formation process and 3) a funding ecosystem for scientific open-source developers.
LabDAO
LabDAO is an ImpactDAO of scientists and engineers that come together online to exchange services and conduct research together. At the center of LabDAO are three components:
- lab-exchange, a marketplace protocol for scientists to exchange laboratory services with each other (both dry-lab and wet-lab). A first version of the contracts and client are being developed.
- lab-teams, an open toolbox for scientists to onboard into the decentralized science space and launch their own “web-lab”.
- lab-fund, a set of mechanisms that will support scientists and scientific open-source developers and inventors through fees generated on the lab-exchange.
The team is currently focused on developing the lab-exchange and improving the onboarding experience for scientists and laboratory service providers.
GnosisDAO and LabDAO
We believe that bringing together GnosisDAO and LabDAO would be mutually beneficial to the community. By supporting the LabDAO community in technical matters, such as Gnosis Chain deployment and Zodiac integration, the launch and maturation of the LabDAO operated exchange could be faciliated.
By launching the lab-exchange on Gnosis Chain and enabling more scientists that are new to web3 to launch their own “web-labs”, we believe the adoption of robust web3 tools in general, and tools within the Gnosis ecosystem in particular, can be faciliated.
To enable the LabDAO launch team to keep developing its tooling pre-launch, we propose a token swap in which GnosisDAO would invest $300,000 worth of DAI/USDC to support the team. In return we would transfer 1,200,000 LAB tokens to GnosisDAO upon project launch. The resulting valuation of the future $LAB token supply is 25M DAI/USDC (100M LAB tokens in total).
The majority of the funding will go towards the development of the lab-exchange and funding first open source contributors within the LabDAO ecosystem to build applications on it.
More information about LabDAO be found in a dedicated write-up: memo.labdao.xyz
Proposed Specifications
- GnosisDAO invests $300,000 worth of DAI/USDC in return for 1,200,000 future LAB tokens out of a supply of 100,000,000 at the time of launch.
- A LAB token launch is planned in Q1 2023.
- A group of individual supporters and DAOs will invest another $700,000 DAI/USDC to purchase additional 2,800,000 future LAB on the same terms.
- Received funds will stay within the DAO multisig at labdao.eth.
- The signers consist of core LabDAO team members, as well as representatives from each major funding community, including GnosisDAO.
- labdao.eth will hold the minter role for LAB tokens.
- All revenues, including but not limited to trading fees generated on the lab-exchange, will flow back to LabDAO.
- The primary version of the lab-exchange will be deployed on Gnosis Chain.
References
- github: labDAO
- discord: labdao
- twitter: lab_dao
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