Thanks so much @ChrisL!
Also, our team was inspired by two recent Twitter posts: one from @0xWave about ensuring ApeCoin runs “a DAO that’s sustainable in the Very Long Term which requires scrutiny and criticality,” and one from @veratheape recommending more “details and transparency” in ApeCoin proposals.
We’ve long agreed with these sentiments - hopefully this is noticed in our Thank APE proposal and in the detailed responses to the questions in this thread. Still, I want to make it easy for people to see answers to budget and sustainability-related questions in one simple reply. So here goes:
THANK APE BUDGET AND SUSTAINABILITY OVERVIEW
In this proposal, Thank APE - built by ThriveCoin - asks for funding of 10k APE a month for 6 months. 100% of the rest of requested funds - up to 33.3k APE a month for 6 months - are circulated to community members after they’ve created value for our DAO.
Our own cost to build the core Thank APE infrastructure is USD seven-figures - many, many times what we asked for in this proposal. Our own cost to white label and build special ApeCoin-specific integrations is est. around double what we asked (~ 600+ engineering hours a month).
Few engineering teams in the world have the web3 sophistication / experience to build Thank APE infrastructure (our team has scaled products to millions of users, held leadership positions in top web3 orgs / communities, and worked together for years on similar kinds of problems).
We proposed to receive our budget in APE - rather than USD - because we wanted our own “fate” to be intertwined with our ApeCoin community’s fate. If APE price decreased by 35% because of unexpected market conditions, we were willing to feel the hit too. This happened. It hasn’t phased us.
We are delivering Thank APE at a loss - even though doing so isn’t optimal for any protocol or organization - because a) we’re Apes and we care! and b) we believe we will create extraordinary value together, and we trust the excitement and goodwill will rub off on us.
We are already working to make Thank APE long-term sustainable. This is evident in collaborations with already-passed initiatives like Snag Solutions, Forever Apes, and more to share soon. We see a future where Thank APE can create continuous value for ApeCoin and be fully self-sustaining!
tldr; Thank APE is providing core, scalable ApeCoin infrastructure (rewarding and recognizing value-creating ApeCoin contributions!) to our community in a way that minimizes cost to our DAO, maximizes value creation for our DAO, and builds on a shared vision of long-term sustainability!