Proposal Name: Ape Accelerator By ApeCoin
Category: Core - Ecosystem Fund Allocation
Author: Forj - Animoca
Original Proposal / Reason For Return / Resubmission Updates
Original Proposal: AIP-141: Ape Accelerator By ApeCoin
Reason For Return(Expand to see details)
The proposal involved the Ape Foundation to participate in the multi-sig wallet control management to oversee the activities to ensure transparency and consistency. However the Ape Foundation only provides grants and are not expected to participate in these activities.
Resubmission Updates(Expand to see details)
- Remove Ape Foundation’s engagement in overseeing the multi-sig wallet.
Instead, we would like to propose selecting 5 members in the BAYC community, along with 2 members from Forj. and 4 out of 7 to sign to approve.
Multi-sign wallet signers selection criteria:
- Active Ape Community, Ape Forum contributors who has deep understanding on Ape ecosystem, well connected to many projects
- Understand the industry and how ape ape launchpad/accelerator operates.
- Technical background is preferred.
- Pass KYC
- No conflict of interest with Ape Accelerator.
- Key Stakeholders’ Role
a)Ape Foundation: Provide Grants to Forj Team in the use of “Ape Accelerator” product development and first 6 months operation
b) Ape Community
- Engage in the decision making process of the ape launchpad’s project selection as specified in “Motivation”
- Oversee Ape Launchpad’s operating activities
- Collect submission fees from projects (Initiators).
- Calculate and distribute commission from sales on Ape Launchpad that goes to the projects (Initiators), voters and multi-sig wallet.
- Share a monthly financial disclosure on any operating cashflow to the Ape Community.
- Platform development as specified in “Steps to Implement”.
- Business Development to ensure 2 projects submitted every month for Ape community’s approval to launch on Ape Launchpad
d) Multi-sig wallet management member (5 from Ape community, 2 from Forj):
Sign the multi-sig wallet transaction depending on the community’s approval on Forj’s monthly financial disclosure stated above.
The Ape Accelerator (Ape Launchpad) is designed to help strengthen the ApeCoin and BAYC ecosystem by incubating and facilitating projects that contribute to, and utilize, ApeCoin and BAYC IP ecosystem growth. Projects looking to launch through the Ape Accelerator will require $APE token to submit a proposal, and holders of $APE and BAYC Ecosystem NFTs will be able to access the launchpad to invest in these projects.
Deck: DocSend Twitter Thread 11
Draft UI/UX Design for Ape Launchpad(4th revision)
The product images and information shown are for illustration purposes only and may not be an exact representation of the product, which is subject for further change.
Forj, a subsidiary of Animoca Brands, has been a BAYC holder since May 2022. Our mission is to empower BAYC IP Growth, from being clubhouse advocate to building the first BAYC experience in The Sandbox that attracted 165k plays and 46k unique players, to driving mass awareness with monthly Yuga IP ecosystem map. We created the Yuga IP Ecosystem map, showcased regularly since August 2022 gaining over 2M impressions up to date. The amount of projects joining the BAYC IP ecosystem grow from 70+in August 2022 to 247 in Feb 2023, nearly 250% increase.
Yuga IP Ecosystem Map (Feb 2023)
Through 1 on 1 calls with founders, we see projects encounter the challenges of 1) Lack of Web2 audience, 2) Lack of ongoing utility for their projects, 3) Low frequency of interaction. With the Ape Accelerator, we want to accelerate the BAYC IP ecosystem growth by building the launchpad for NFT sales and distribution, providing incubation and advisory projects on Strategic Partnerships, Storytelling, Tokenomics design, Capital Support and Distribution. We would like to form the strategic incubation vertical to maximize cohort synergy for Yuga’s ecosystem growth
As a Animoca Brand subsidiary, Forj has
- Animoca ecosystem projects exposure to participate in the sale
- Deal flow from Animoca investment portfolio
- Wide connections to NFT projects and VCs
- Already established launchpad that have successfully launched 20+ projects e.g., Kylin Network, Altava, Phantom Galaxies
A subsidiary of Animoca Brands, Forj delivers leading Web3 products and technologies that create unique fan experiences for creators.Forj, the innovation hub of Animoca, provides advisory, tech modules, and interoperability infrastructure to power Animoca’s ecosystem growth. With major partnerships including Grammy-nominated musician Lewis Capaldi, and leading creator platform Spring, Forj has an enviable track-record of success in the sector.
Experienced team: Team of 50+ employees, led by
- Harry Liu— CEO
Founder of Forj, leading Launchpad for Animoca portfolio projects such as Phantom Galaxies, Altava. Creator of Yuga IP Ecosystem Map. Led community driven BAYC experience for Sandbox Season 3. Previously Fore Media, Google Partner. https://twitter.com/harry_forj/
- Rob Tran - COO
25 years experience in scaling Music, SaaS, and AI businesses, with a track record of early-stage projects strategic advisory at leading startup incubators. https://www.linkedin.com/in/roberttran/
- Charles Stanton - CMO
Digital Marketing leader at brands including KPMG, The National Lottery, and BUPA. https://twitter.com/Chas_Stanton
- Terrence Gatsby - CTO
Vast experience across disruptive technologies including Blockchain, Cryptocurrencies, DeFi, Digital Assets, Tokenization, FinTech, WealthTech, Edge Computing, and Internet of Things. https://www.linkedin.com/in/terrencegatsby/
Ape communities gathered early NFT adopters with experience and knowledge on the NFT market. To leverage everyone’s experience toward the growth of the Ape ecosystem, a Launchpad that allows ApeCoin holders to participate in the decision-making of early projects’ launch can bring forth positive growth.
The Ape Launchpad aims to maximize the Ape community’s benefit, facilitate the use of ApeCoin and together as a community contribute, fund, and empower the future of decentralization.
The ApeCoin Community can engage in the Ape Launchpad in three ways:
- Projects that aim to launch on the Ape Launchpad need to spend # $APE to submit a proposal.
- Encourage NFT collections/projects to purchase $APE coin
- Project should accept a percentage of funds raised in $APE, a percentage of commission will be charged to the initiator on the total amount raised through Ape launchpad.
- Submission fee and commission will be sent to a multi-sig wallet, which can be burned, or routed to other DAO initiatives based on community voting.
- After projects submit proposals, the Ape community can use $APE to vote whether to launch this project on Ape Launchpad.
- Autonomous project selection from the community
- If a proposal is passed by the community, voters will share a percentage of commission from the launchpad sales revenue.
- Engage voters to participate and earn
- Approved projects will launch on the Ape Launchpad, accept ApeCoin as payment, as well as other tokens
- Ape community get valuable, high-experience NFTs every month.
- Add utility to $APE token.
- Ape Launchpad will embed the staking pool from AIP 21/22, users need to stake to gain access to the launchpad. See More in “Specifications”
- Get the community to stake $APE, reward committed stakers with ongoing benefits
To grow the Ape ecosystem, a core strategy is to add more use cases for the ApeCoin. Therefore, having this Ape Accelerator can
- Get the community to stake $APE in order to participate in NFT and token sales, and reward committed stakers with ongoing benefits
- Ape community get valuable, high-experience NFTs every month
- Get community use $APE to access any primary sales on Ape Launchpad
- Encourage NFT collections/projects to purchase $APE in order to launch on Ape launchpad
- Increase $APE utility by allowing community use $APE to vote, and get rewarded for participation
- A percentage of collected $APE will be burned or donated to charity or sent to a multi-sig wallet to be used at a later date.
- Ape launchpad will be on the ETH network first unless it is added to another chain.
- ApeCoin and BAYC ecosystem NFT holders will have exclusive access to participate and support projects in NFT sales. Launchpad Participation is based on a tier structure, where tiers are determined by user’s amount of $APE in staking pools and qualifying NFTs users hold (BAYC, MAYC, BAKC, Meebits, Crypto Punks, Otherdeed of otherside).
- Staking pools: users need to stake $APE in a pool for at least 14 days to be eligible for tiers - AIP 21/22
- Snapshots will be taken 1 day prior to the sale to verify eligibility.
- Detail tier justification:
- Platinum Tier - 10,000 $APE + 1 of BAYC NFT
- Gold Tier - 8,000 $APE + 1 of BAYC, MAYC NFT
- Silver Tier - 6,000 $APE + 1 of BAYC, MAYC, BAKC NFT, Otherdeed of otherside
- Bronze Tier - 4,000 $APE + 1 of BAYC NFT,MAYC, BAKC NFT, Otherdeed of otherside, Meebits, Cryptopunks NFT
- Friends Tier - 1,000 $APE + 1 of Forj & Animoca Ecosystem Partners NFTs
- Public Tier - Any $APE stakers
- Users in a higher tier can enjoy priority sales, higher purchase limits and better allocations of rare NFTs
- The current tiers design is based on the emphasis on $APE and the BAYC NFT ecosystem - with the lower tiers reserved for partner projects or non-ape project NFTs to avoid showing preference for any one collection over another’ or something similar. Tier requirement is subject to change based on a defined ApeCoin DAO voting process.
Steps to Implement
- Finalization of Economics Model
We will work with the APE community to determine
- Submission fee from initiator. Range from $1,000 to $5,000 worth of $APE
- % of commission from sales on Ape Launchpad. Range from 10% to 15%.
- % of the commission shared with voters if the proposal gets approved. Range from 0.5% to 1%.
- % of the fund raised in $APE for each project. Range from 30%-100%.
- Smart Contract deployment & Audit
- Forj Team has successfully launched 16 projects on Forj Launchpad. We will use the same smart contract, adapt it to ApeCoin and send it to the most trusted auditors in the industry, such as Certik.
- We will be fully transparent to the community about the smart contract audit.
- UI/UX Design+Landing Page
- Have the creative team to design UI/UX with specific Ape elements. Takes 2-3 weeks to draft, amend, and set.
- Will embed the approved AIP21/22 ‘Ape Staking Pool’ into the landing page.
- Business Development
- The essence of launchpad relies on quality projects and a resilient team.
- Leverage Animoca ecosystem support to screen at least 2 of the best projects as the first kick off of Ape Launchpad
- BD teams need to ensure that there will be at least 2 projects submitting proposals each month.
Milestone 1 - Project Approval by Ape community
- Finalize proposals with the community and get approval.
- Securing financing, equipment or resources
- Assembling a project team.
- Define KPI for each department: Business Development, Operation, Tech.
Milestone 2- MVP Launch
- Smart Contract Development and Audit
- Launchpad UI/UX design by product team
- Integrate AIP21/22 ‘Ape Staking Pool’
- Product Approval by Ape Community
Estimated Timeline - 2.5 months
Milestone 3- Project Deal Proposal Submission
- Business development team submit 2 projects proposals
- Proposal submit from project side
- APE community vote for approval
Estimated Timeline - 2 weeks to 1 month
Milestone 4- First Ape Launchpad Sale
- Marketing Activation with major media platforms
Estimated Timeline- 1 month
*Total elapsed time is 3 months
Total Ecosystem Ask - $480k USD which is composed of APE($60k), USD($420k)
$300k Development Cost
- UI/UX design - $40k
- Front End - $90k
- Smart Contract Development - $90k
- Contract Deploy & Audit - $80k
$180k Operation Cost - for the first six months ($30k per month)
- 1 product manager
- 1 Front End Developer
- 1 designer
- 1 operation associate
- 1 business development
- 1 marketing associate
- website maintenance/snapshot/airdrop
Commission - 5% on each Ape launchpad sale revenue
Allocation - 25% of total Ape launchpad allocation