Founding Owner Terms
Last updated: June 5, 2026 · Version 2.1
1. Program overview
The Founding Owner program is a limited-recognition program for early gear owners on Gear Wave. Each U.S. state has a hard cap of 25 Founding Owner spots; once a state's cap is reached, the program closes in that state and remaining applicants are placed on a waitlist for any forfeitures. Spots are awarded first-come, first-served when an owner publishes their first listing in an eligible state and passes identity verification.
2. Eligibility
- Must be 18 years or older.
- Must hold an active Gear Wave owner account in good standing.
- Must list at least one item located in a U.S. state with founding spots still available (under the 25-spot state cap).
- Must pass Gear Wave identity verification through Stripe Identity.
3. Perks granted
Once a Founding Owner spot is claimed, the following perks apply for as long as the account remains in good standing:
- 92% owner payout — for life. Gear Wave's commission stays at 8% (vs the standard 15% on Starter and 10% on Pro/Premium) for every booking, with no time limit.
- 50% off Pro or Premium subscription for 12 months from your first paid Pro/Premium billing cycle. Applied automatically at checkout via a Stripe coupon.
- Founding Owner badge shown on your profile, listings, and reviews — permanent for as long as your account is in good standing.
- Early access to new features and a direct email line to the founding team.
4. Good standing
Founding Owner perks may be paused or revoked if your account is suspended for fraud, repeated policy violations, unresolved disputes, or violations of the Master Rental Agreement or category-specific waivers. If your account returns to good standing, perks may be restored at Gear Wave's discretion.
5. Changes
Gear Wave may make non-material clarifications to these terms. Any material change to the perks of an already-claimed Founding Owner spot will be communicated by email at least 30 days in advance and will not reduce perks already granted for time periods already elapsed.
6. Other programs
Gear Wave may operate separate recognition programs in the future (for example, market-opener tiers in new cities). Those programs will have their own terms and are not part of the Founding Owner program described here.
Questions? Contact the team.