Hey all! Had an issue with the draft. Please note this is not the official draft as we have made a lot of changes. Working with Mods to fix it. Stay tuned.
Cheers,
Christian
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Hi ApeCoin DAO Community,
@Christian has updated their Draft and it is in our review once again. You can check out the changes by clicking the pencil icon at the top right of the post.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
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Hi ApeCoin DAO Community,
Our team has reviewed and discussed @Christianâs AIP Draft and have sent a list of initial questions. We await answers.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Vulkan
I think you can improve the Rationale a lil bit
Steps to rectify that :
- Step 1 : Remove the current rationale to make room for the new one
- Step 2 : Add âCause why tf notâ
- Step 3 : Profit !!
Thatâs a solid argument, canât argue with it
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Hello. Iâm not familiar with the Boring Beverages brand. I briefly glanced over the proposal. Can you introduce Boring Beverages, talk about what youâve done so far in web3 and ape communities, and maybe share some quick links?
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Hey Sword!
Boring is a startup beverage brand with a mission to raise awareness of $APE and bridge the gap between web2 and web3 with real-world products that everyone can enjoy. Our goal is for the brand to reflect the Ape Community and disrupt the CPG world. Many people outside the space do not understand it or see it as a scam, and we aim to change that by demonstrating the incredible power of Web3 and community.
My partner Chris (COO) and I entered into NFTs in early 2020, exploring different areas. He focused on gaming, while I had more interest in the PFP side. Currently, we have not done anything massive in the space other than being community members. What we have done is leverage our knowledge of web3 and Chrisâ extensive knowledge of the beverage industry to merge the two areas. We have spoken with and consulted a few web2 beverage brands about the potential of web3 and the benefits of incorporating it into their current brand. Some founders were quick to reject the idea, but others were enthusiastic and wanted to explore ways to adopt it. Unfortunately, we experienced immediate backlash from their core customers. Their web2-native community was quick to criticize NFTs without ever considering the benefits.
This was disheartening for us since we are passionate about NFTs and beverages. From there, we realized there was a significant divide between web2 and web3 natives, and incorporating NFTs into existing web2 beverage brands is unlikely to happen without educating the masses. Thus, Boring was created, a beverage company with a core community of web3 natives who understand the true potential of the space.
Our primary goal for Boring is to create a brand that is born in web3 but can seamlessly blend into web2 and help educate and onboard users into the ecosystem. This is why Boring aims to be an extension of the Ape Community, as we want new users to onboard to the BEST community, not just any community.
Here is a video where Chris and I jump into our deck and breakdown our vision. Video
Looking forward to having you apart of the Boring community Sword!
Cheers,
Christian
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Haha, I love it and think we will do just that. Simple and to the point!
By the way, I absolutely love your idea for ApeSpaces CEO! We have two goals for spaces: sponsoring spaces within the Ecosystem so that listeners of ApeSpaces can use the code #apespaces to receive a 10% discount on their Boring order; and hosting spaces where we can update the community on the production process. Perhaps we can host these spaces on ApeSpaces to keep the conversation in one place! I am looking forward to chatting further and am extremely excited about ApeSpaces!
Cheers,
Christian
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Hi ApeCoin DAO Community,
@Christian has responded to our questions and they are in our review once again.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
Hi ApeCoin DAO Community,
@Christian has responded to our questions and has provided consent to share them in this forum for the community.
Questions (click to expand)
Q: Are there any potential legal or regulatory risks associated with the activities of this AIP?
- We do not anticipate any issues. We possess a comprehensive understanding of beverage manufacturing and are well-versed in all the relevant laws, including those pertaining to nutritional facts and label claims. The only conceivable concern was the DAO holding equity, but as the community will come to understand, we will most likely be adopting the Community Wallet approach, which means that the DAO itself will not officially be receiving any profits or equity at this time.
Q: Your proposal mentions âthe community will own 10% of the brand" with a few different options you laid out. Can you explain more how this decision will be made?
- Definitely! This is super important to our team. Weâre eager to engage with the community and gather feedback on what they believe is the most effective approach. Weâve already consulted with some members, and the community wallet strategy appears to be the most practical option at present. Itâs a straightforward setup that ensures both Boring and the DAO comply with legal requirements.
Q: What are the Objectives and Key Results which have been identified for your project?
- There are three main OKRs we want to achieve in the beginning: Build, Measure, and Learn.
- Building a brand that represents the ApeCoin Dao and Ape Culture.
- KR: To achieve this, we will create products that the community desires, give members a voice in brand decisions, no matter how big or small, and embrace the lifestyle that we have all attached ourselves to.
- Measuring the success of our launch.
- KR: We can accomplish this by obtaining community feedback and analyzing which products have sold better than others.
- Learning what changes need to happen to scale Boring.
- KR: We will determine what the community desires to see changed and what Boring can improve to allow the brand to reach its full potential.
Q: I see you touched on this a bit in the âFinal Notesâ section, but is there any additional information you would like to share on the teamsâ expectations for the future?
- Boring will be born in Web3, and we have tremendous potential to expand our brand within the ecosystem, positioning ourselves as the top choice for Web3 natives. At the same time, it is just as important to ensure that our products remain accessible and enjoyable for those outside the Web3 community. One objective is to reach Web2 natives by offering exceptional beverages that leave them wanting to learn more about the community that built it. We are fully committed to creating the worldâs biggest Web3 beverage brand, with ApeCoin serving as its foundation. When Boring captures the attention of the masses, rest assured that the APE ecosystem will be alongside us.
Q: Is the Ape Foundation expected to engage in any of the steps of the AIP implementation? If so, please specify the step and elaborate how it is expected to work.
- We would love to work alongside the Ape Foundation as we strive for Boring to be as community-focused as possible. We like the idea of the keys to the Community Wallet (formed by Boring) being held by trusted Foundation members as a multi-sig wallet. Other than that there is nothing overcomplicated we need. However perhaps in the future, the Foundation can get help with Boring sponsoring ApeCoin IRL events.
Q: Have you or your team identified any additional financial, operational, or brand risks associated with this AIP?
- Currently, we do not anticipate any significant risks associated with the AIP nor any that would impact the DAO. Nonetheless, as a startup, there may be unexpected obstacles, but we are well-equipped to address them and remain fully committed to the success of the Boring brand.
Q: Are there any limitations or guidelines on what will be included in the can artwork? For instance, will NFT images be used? Will the ApeCoin image be used anywhere?
- There are standard guidelines for labeling, including the Nutrition Facts panel, a list of ingredients, and a declaration of allergens. Energy drinks have additional requirements, such as disclosing caffeine content per serving, and a warning that they are not intended or recommended for children, pregnant or breastfeeding women, and others. Fortunately, our COO Chris is well-versed in these requirements, having handled them many times before.
- In regards to NFTs, we think that our label should not display them at the moment, as we also want to attract people who are not yet familiar with web3. We believe that adding an NFT to the label right now could potentially have a negative impact on that audience. However, we do intend to include NFTs in our Limited Edition releases and are enthusiastic about exploring the possibilities.
- In terms of the ApeCoin logo, one idea we have is to include it within a QR code on our packaging. This could be a useful tool for customers to learn more about $APE and the Boring community. In addition to this QR code, we would also love to use the ApeCoin logo on our exclusive ApeCoin-only products. For example, below is an image of an ApeCoin-only flavor that features the $APE logo and coin details. We think this would be a really cool IRL product, particularly for events.
Q: Are the technical integrations (ex. Shopify, Coinbase Commerce, etc.) you are planning to use already lined up? Or would there be some coordination needed there?
- We are currently working on setting up our Shopify store and Coinbase Commerce accounts. Fortunately, the setup process for these tools is fairly straightforward.
Can you share more details on any exclusive or premium features? As well as any associated costs?
- Our website will be free to use as it is an online store. Connecting your wallet to access the $APE discount will also be a free feature. Other than these integrations we are currently not working on any features.
Q: Besides a web store, are there any other technology platforms you will use?
- Weâre excited to use Discord to keep the community informed and up-to-date on our production. We also plan to use Twitter Spaces to connect with members on a more personal level, as well as host frequent educational Spaces where weâll dive into certain aspects of production and feature special guests such as other CPG founders and industry experts.
Q: Do you have any plans to perform any types of security audits on any of the tools used?
- At Boring, we take security very seriously given that this industry unfortunately can attract bad actors. Rest assured, we will conduct a thorough audit before launching our site to ensure the safety of our customers when connecting their wallets and other sensitive information.
Q: You mentioned âOur team has worked with some of the largest national brands.â Are you willing to share some examples here?
- This is a tricky question to answer. During your Boing journey, youâll learn that many beverage brands, including some of the biggest in the world, donât actually produce their own products. Instead, they work with Co-Packers who manufacture the products for these brands. However, brands prefer not to disclose this information, as most people assume that brands produce their own products.
- Our COO, Chris, has served as the lead Sales Director for a major beverage manufacturer. While we cannot provide specific details or disclose the brands he worked with due to strict NDAs, we can tell you that Chris has worked with Celebrity, National, and International brands, some of which youâre probably consuming right now.
Q: This might be covered by your answer above, but do you have any additional examples of prior experience you are able to share?
- As previously mentioned, we cannot provide specific details. Nevertheless, we have the expertise and experience in creating beverages. We have managed every step, from the initial formulation to the production day, which is a distinctive skill in this industry. After getting to know our team, especially Chris, youâll quickly realize that he is highly skilled and experienced in this industry.
Q: Not sure if you are familiar with Ape Water from AIP-184, but they are also in the beverage industry (focusing on water). Do you foresee any opportunities to collaborate with them at all or do you prefer to remain separate?
- Absolutely, we love what the team at Ape Water is building. Especially love how they want to add a layer of technology to their packaging and make drinking the beverage a more immersive experience. We definitely see a collaboration in the future. As you mentioned, they are a water company, so we donât see any conflicts of interest between the brands and look forward to working with them. This is what Web3 is all about: connecting, collaborating, and working together. These are some of the best aspects of it.
Q: Do you provide consent to share these questions with the community in this forum?
- For sure! Transparency is important to our team.
A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
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Thank you for the response. Its common for other ape brands to distribute through events & popup style venues. It looks like youâll be using twitter spaces & a website. I didnt see a link to founders twitter. Can you share? How are you participating in web3 & nft communities? Thats important.
Iâm reading the timeline nowâŚhow long until these are in the hands of apes?
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Certainly, our products will be available for purchase through our online store to start. However, we also intend to use in-person distribution channels. One goal is to provide our products at events such as ApeCoin IRL and ApeFest, but we know the importance of targeting non-Web3 events which we believe is more important for raising awareness to ApeCoin and the community. And we know a product like Boring Energy would do really well at say gaming events.
Here are our Twitter handles: mine, our COO Chrisâs, and the brandâs. As mentioned earlier, we have been involved in this space for a while - I have been holding $APE since June 2022. However, we have been relatively passive in terms of active participation until recently, when we recognized how to leverage our skills within the space. Nonetheless, we agree community participation is important, and as you can tell after reading the whole proposal, it is at the top of our list. What makes the Brand and this AIP special is its focus on community engagement. We want the brand to be built on top of the already fantastic community, where we make decisions on new flavors, products, partnerships, showcase artists within the space, and maintain full transparency along the way.
Cheers,
Christian
EDIT: Apologies for forgetting to answer the timeline question. Typically, it takes around 4-6 months from the start of formulation. Manufacturing can be unpredictable, especially for the longest aspects such as formulation and artwork. When more people are involved, there may be some back and forth to ensure everything is done correctly. However, once the first production run is finished, subsequent productions are much quicker as you just have to schedule production and order ingredients/materials.
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Hi ApeCoin DAO Community,
@Christian has responded to our questions and has provided consent to share them in this forum for the community.
Questions (click to expand)
- Your âOverall Costâ section mentions the following total request. Are you requesting 34,100 ApeCoin or $137,601?
$137,601 USD is the ask. At the time it was 34,100 $APE. So it probably makes more sense to just have the USD price shown, being that wonât fluctuate.
- Based on your answer to question 1, is it okay for us to update your AIP Draft to make this more clear?
Absolutely updating it would be great, thank you!
Please note the AIP Draft has been updated to reflect this change. You can click the Pencil icon at the top of the page to view all edits.
A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
MAY be partly owned and, while at present there is no way to ensure this, even if eventually âpartly ownedâ this does not mean âthe communityâ will have any say in how the business is run.
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Hey br00no, this is correct. As many are aware, the DAO is currently unable to hold equity and it remains to be seen whether it will be able to do so in the future. However, the Boring brand is committed to contributing 10% of its profits to a community wallet. This is currently our best effort in that direction.
We understand that this commitment does not grant the community an official role in business operations. However, we remain dedicated to fostering transparency, valuing community feedback, and ensuring that all membersâ voices are heard. Chris and I are committed to driving change in the beverage industry and revolutionizing how CPG brands interact with their loyal community.
Building trust with the community is key in this space, and we are will do just that. It would not be wise for us or the brand to commit to 10% and then later, if the DAO can hold equity, revoke that promise. Such an action would burn a bridge between our foundation and our most loyal community
As mentioned earlier, we are excited about community ownership. While we donât want it to be the only defining factor for the AIP or the brand, weâre thrilled at the chance to experiment and set ourselves apart in an industry that can often be boring (no pun intended). We would greatly appreciate any feedback from knowledgeable community members regarding this subject, as our goal is to obtain community ownership in a lawful and trustworthy manner.
Thanks br00no!
Cheers,
Christian
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Hi Christian. Appreciate your reply.
Sorry I wasnât clear at all. My point was that wording should be clear in the AIP itself, in the section I quoted.
I donât believe AIPs should have statements that canât be done, or potential confusion over âownershipâ and any actual say in operations. Especially since that can have legal consequences on both sides.
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I completely agree with your point. Iâm going to contact a moderator to make sure itâs more clear.
In addition, your comment had me thinking today on the importance of trust. I believe that establishing a group of trusted community members (potentially as part of a future working group) who have access to the brandâs daily operations would be a brilliant idea. This group could help guarantee that the brand acts in the best interests of the DAO while also safeguarding the keys to the community wallet. âThe Boring Boardâ maybe? ha
Got off-topic there, sorry! Looking forward to more questions or feedback from you br00no!
-Christian
I believe SC is supposed to monitor any milestones / points of accountability.
A grants DAO should not have oversight or steering of a grant recipientâs business, for legal and ethical reasons to start with and serious Mission & operational creep in addition.
If a grant author canât be counted on to deliver, then we shouldnât fund the grant or it should be smaller and/or tied to milestones before further monies released.
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I agree with you that the DAO should not have direct control over the business. Involving too many people and options will damage the brand. However, I strongly believe in transparency. What makes web3 unique is the new ways in which brands can engage with their community. Our goal is not for the DAO or members to manage daily business operations, but rather to express their opinions and feel confident that they will be listened to and valued in ways that were not possible before web3.
Keep it coming br00no! Love the conversation 
-Christian
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Hi ApeCoin DAO Community,
@Christian has updated their Draft and it is in our review once again. You can check out the changes by clicking the pencil icon at the top right of the post.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
Hey this looks truly amazing! A big highlight when it comes to the mock ups, branding and even collab mock up proposion. This is definitely something I would be happy to help with and contribute to. Even looking at the success MetaBrewSociety had, without the Ape branding, this could really have some amazing traction and awareness. Similalry, you see the licensing of the Banana Happy Dad flavor that featured an Ape, and instantly became a limited/hard to find flavor, when launched. The suggested flavors(just voted on snapshot) sound phenomenal, and I look forward to sipping on them soon!
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