Gnosis has opened a governance vote on whether to spin off Gnosis App into a separate company managed by the original team. The proposal, dubbed GIP-152, is now live on Snapshot. Under its terms, GnosisDAO would invest $1.5 million in cash and contribute $1 million in products and intellectual property, resulting in a combined $2.5 million position in the SAFE protocol. This translates to a post-money valuation cap of $10 million, and in return the DAO would secure at least 25% equity. The new company would take over the Gnosis App's product and IP. The app is currently built on the Circles protocol and focuses on decentralized payments for users in Europe. According to the proposal, operating independently will help the product develop faster and get closer to product-market fit (PMF), a model that has been validated by other Gnosis-incubated projects like CoW and Safe. Voting is scheduled to end at 22:19 on August 12, with a quorum requirement of 75,000 votes. As of this writing, the vote has reached roughly 13.2% of the quorum, with 65.93% of ballots in favor.