AIP-287: Allow for ApeCoin staked in ParaSpace protocol to be counted for voting power

Proposal Name: Allow for ApeCoin staked in ParaSpace protocol to be counted for voting power

Original Proposal:
AIP-229: Establish guidelines for ApeCoin staked in protocols to be counted for voting power

Reason for Return: Return for Reconstruction

The community would benefit from seeing proposals to count voting power for individual groups, protocols and collectives separately.

Resubmission Updates
Authors: ParaSpace, CryptoBeaker

Proposal Category: Process


This AIP is a reconstruction of AIP-229 as recommended by Ape Foundation to be an individual proposal.

The current voting system does not allow ApeCoin staked in protocols, other than, to be considered in voting power calculations for ApeCoin DAO governance.

This AIP allows for ParaSpace to request Ape Foundation’s assistance in implementing ApeCoin staked for its individual users to count as voting power in ApeCoin DAO governance activities.

ParaSpace is a cross-margin lending protocol for full collateralized loans with bundled collateral. In just five months, ParaSpace has achieved impressive results, with up to TVL of $220 million, a leader in the market. We have over 2400 NFTs supplied, over 7,000 users, and $8.3 million in Ape staking. ParaSpace aims to become the world’s leading universal lending protocol, not only in the NFTFi area but also in financial derivatives and real-world assets. Our vision is to allow users to borrow anything against everything. ParaSpace has many advantages, including auto-compounding, auto-repay to save gas, and maximizing staking rewards. We also offer a variety of pool choices, such as p2pool and p2peer. We provide BNPL services, allowing users to buy blue-chip NFTs and enjoy benefits with 0% down payment and immediate profit generation for Staking. ParaSpace also offers special features such as Rare Trait Boost loan limits. Recently, we have launched Instant Unstake Eth, allowing users to withdraw assets immediately without waiting 7-14 days.


ApeCoin DAO members have the right to vote, and this right should not be limited by the ApeCoin staking protocol one wishes to use. By supporting this AIP, we can help more users to participate in governance activities and have a say in the future of the DAO.


Ape Foundation guiding principle of Collective Responsibility: We leave everything better than we found it.

With this proposal we aim to make an improvement to the voting process that preserves each member’s right to vote.

Total Ape Staked as of 5/19/2023

ParaSpace ~8,100,000

Allowing users to vote will benefit both the growth of ApeCoin DAO and the whole NFTfi industry.


Ape Foundation will take reasonable steps to determine the appropriateness of ParaSpace’s staked ApeCoin to be counted as voting power in ApeCoin governance activities.

Important considerations include but are not limited to the following:

  • Ensuring no aggregators in voting power (e.g. ensuring the protocol operators do not control the voting power)

  • Proving that ultimate ownership is not centralized (i.e. voting represents individual wallet owners only)

Ape Foundation will work with ParaSpace for implementation.

Steps to Implement

ParaSpace Vaults

BAYC vault: 0xdb5485C85Bd95f38f9def0cA85499eF67dC581c0

MAYC vault: 0xFA51cdc70c512c13eF1e4A3dbf1e99082b242896

BAKC vault: 0xC3d0922aF19D56DEbf426706D27bD5d7Ea48D23C

ApeCoin vault: 0xDDDe38696FBe5d11497D72d8801F651642d62353

P2PPairStaking: 0xf090Eb4c2B63e7B26E8Bb09e6Fc0cC3A7586263B

Together with ParaSpace, the Ape Foundation can potentially create a snapshot strategy which:

  1. Checks the IDs of the BAYC/MAYC/BAKC address deposited into ParaSpace’s (vault above)

  2. Check the staked APE in the ApeStake contract for the IDs found above

Ape Foundation will work with ParaSpace to assess its needs, and if appropriate, the eventual implementation to calculate voting power for end users. Note that this process can change, particularly if such matters are transitioned to Working Groups of ApeCoin DAO.


This will be implemented immediately.

Overall Cost

$0 requested from the ApeCoin DAO treasury for this proposal


I greatly appreciate the submission of this proposal and fully support the incorporation of ParaSpace and BendDAO in the process. There is a significant number of users who desire to participate in the voting process, but are currently unable due to their staking in ParaSpace or BendDAO. It is imperative that we actualize this proposal to broaden our voter base and enhance the democratic process within our organization. The greater participation we can secure, the more robust and representative our decision-making will become.


Every owned $ape should be able to vote, I agree.
But, I don’t think there is a proper way to defend against the potential flash $ape loans prior to the snapshot. It is definitely going to be abused since Para’s protocol “lends” you all the $ape needed in order to fully stake your apes with no collateral.


Technically when they have put on Paraspace does Paraspace have the voting rights now? Could they actually block vote and push through proposals?

This would be a good initiative to allow more ppl to cast their right voting power. It shouldn’t be limited to just . Every $ape holder deserves to have their actual vote power to be casted and shouldn’t be left out just cause it’s being staked in a different protocol/site.


I did not know this protocol thank you

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Would be great to add BendDao & Jpegd too. Every $APE counts :+1:

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Is there a way to differentiate between the $APE that is owned by the person staking, and the $APE that the protocol is providing for those who are using them to get coins to stake against their apes? I don’t have the same concern for the $APE only pool offerings.

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Not sure how easy that’ll be to implement, but I agree that every apecoin should count. Not using paraspace personally, but if that’s where somebody’s apecoin is, I agree that it should count for voting.

Every Ape deserves to be 1 vote. Glad you are taking this step. Happy to help and refine ideas :bulb:

I’m stoked to see this proposed! I have pretty much all of my $ape staked on Paraspace and I am looking forward to being able to exercise my full voting rights once again.


Ask and ye shall receive. You can find the Bend DAO proposal here, and the JPED’d proposal here.

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Technically, yes, they can vote. But I think if they do, $ape holders will withdraw from their staking in protest. So in practice, Paraspace will never vote.

I’d bet heavily few would know or care. It’s yet another wide-open risk vector.


Hi @bkr,

Your topic will be moving to the AIP Draft phase in less than 24 hours. Are you content with the feedback received or do you wish to extend community discussion for another 7 days?

If we do not hear from you within 48 hours after your topic closes, your topic will be moved straight to the AIP Draft process.

We look forward to hearing from you.


nice my friend… :grinning: :grinning: :grinning:

This topic was automatically closed after 7 days. New replies are no longer allowed.

Hi @bkr,

Thank you for your ideas [and the ApeCoin DAO community for the thoughtful discussions]. A moderator will get in touch with the author to draft the AIP in the appropriate template. Once the AIP is drafted and meets all the DAO-approved guidelines, the proposal will be posted on Snapshot for live official voting at: Snapshot

Follow this Topic as further updates will be posted here in the comments. @bkr, please see your messages for the next steps.



Hi ApeCoin DAO Community,

@bkr has completed editing their AIP Idea to be their AIP Draft.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,


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