Hi ApeCoin DAO Community,
@Waabam has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 7 days from now. We encourage the community to continue to engage in thoughtful discussions through constructive criticism, honest feedback, and helpful suggestions.
Follow this Topic as further updates will be posted here in the comments.
No problem @Waabam, and I’m aligned with your thoughts here. We absolutely don’t want to “over-create” so perhaps simplicity is key - in the beginning especially. I wasn’t necessarily making those suggestions, I just wanted to push the thought process a bit.
Absolutely willing to chat more on this! I think we could definitely leverage a product perspective. DMing you now!
I really like this idea and the enhanced transparency it would provide. I also think this is something that is very important to be monitored over time. I’d support this idea!
great idea! it should also show the monthly compensation of the employees.
I’m all for transparency in every aspect.
We’re up for a discussion later today.
Would the foundation have to hire auditors for the treasury, I guess not it they kept their books well.
You have a valid point, I was just worried about duplication of efforts.
I’ve tried to do something similar with Apecoin Tracker but in an unofficial capacity.
I’ve sifted through all of the transactions related to the treasury wallets and mapped the flow of funds and have learned a lot in the meantime
Here’s my 2 cents :
The list of wallets which form our treasury listed over @ ApeCoin is beyond obsolete. More than half of those wallets have been discarded as they’re single use wallets
The current Treasury balance among about 100 wallets if you remove the 60 discarded wallets
This entity I’ve created allows us to query the live balance using an API, it would’ve been incorporated on the
I have a list of discarded wallets with new wallets replacing them,if you want the pdf just lmn.
Let me know if you have any questions regarding this, I’d love to help however I can.
I’m definitely in support of this. It would be good to have a clear place we can collectively monitor the funds, & budget accordingly.
We need it. Full support.
You could have also concluded the discussion, your proposal is very useful and I will certainly vote in favor of it.
Mad Respect for the tedious work and initiative
Happy to help in any way shape or form I can fren
YES. Keeping books, much less one’s own books, and audits (properly done by a 3rd party) are not the same thing at all. Nor would bookkeeping include plain language risk assessments which are typically part of an auditor’s reports.
I just finished an ApeCoin Radio interview (wonderful experience!) that touched on this and people can soon hear if they care to, so just at the basic level:
Keeping books is tracking things.
Accountants add those things up, with few if any questions asked and no real investigation done. If you’re full of it, or omit things, that’s on you. Accounting just asserts that Your BS On The Books + More Of Your BS On The Books = A Lot Of BS On The Books. Mathematically sound, but very problematic if you don’t want BS.
Auditing is making sure those things are legit - not BS - and comprehensive - not just reporting what’s convenient - and assessing where things are going or can go wrong. If you’re full of it, it’s on them and a risk to their reputation if they don’t catch it.
Self-reported book keeping / accounting could be totally accurate and comprehensive, but no serious big-$ endeavor relies on that, shareholders in public companies don’t rely on that, and token holders of ApeCoin DAO shouldn’t have to either.
Rather we need that info and those credible, informed assessments to make the best decisions to protect, preserve and prosper the DAO for a long time to come.
Well said, That’s a pretty comprehensive analysis. I’ll take a listen.
A periodic and comprehensive 3rd party Audit is a must
One question though, what would the work I’ve done in this respect be classified as ? I’m guessing a third option, different from the options above cause neither did I have access to internal information and nor could question the guys.
good idea, just not sure if it’s apecoin.com since its rarely visited today
Thanks, and agreed.
You’re showing “cash” flows. Digital receipts, though on-chain transactions aren’t self-evident what those flows were for.
One of the things accountants will typically prepare in addition to a balance sheet is a cash flow statement.
Last time I engaged auditors to account for NFTs and audit - middle of 2021 - there weren’t a lot of options, much less options in the SEC’s good graces. Basically had to educate them from Etherscan on up, and you can imagine what trad-fi types thought of OpenSea transactions as a receipt or “proof” of value, or explaining why someone might pay thousands for a JPEG and maybe not be totally insane or crooked for doing so.
Today we should have a lot of good options for those services. Or we build & fund our own firm? I don’t know. I just know it has to happen and if we can set an example for other DAO’s or help build a bridge to those resources then so much the better because blazing a trail in this space is at the core of what $APE is all about.
That’s some pretty good alpha. Let’s get that going
This is what makes the DAO community stronger
Maybe also add a org chart somewhere. The DAO is getting complicated, no longer easy to find out who is whom and what title/responsibility he/she carries.
Awesome, is that up to date? love to see a permanent link to host it other than a tweet