Hi @bigbull,
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. @bigbull please see your messages for the next steps.
Hi ApeCoin DAO Community,
@bigbull 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,
Thanks so much for submitting this proposal @bigbull! While I do agree that the runners up put a lot of hard work and effort into running, and I have a lot of respect for them, they did so without expectation of compensation. I do appreciate that you are trying to help those who have put in significant time and effort into the DAO.
But, like @MisterHype, I worry that this AIP could have unintended consequences for future elections if people think that there is a chance to get compensated just for running. There is the potential of the process being overwhelmed with lower quality candidates. How would you mitigate this risk?
I also donât think it solves for people who have less money running since it is not guaranteed that they would make it into the runner ups either, so they would still have to take that financial risk.
Thanks again for this proposal, and I look forward to your reply!
Thank you for your questions @adventurousape
This AIP is a one time AIP and there is no guarantee it would apply to future elections.
It is only for the round two runner ups and âlow qualityâ candidates almost never make it to round two as this requires significant support from the community in terms of votes.
The risk vs reward makes no sense to invest to game it. See this was in my AIP.
Risk Review
Also it doesnât make sense to game the system to obtain this level of reward.
Special Council runner up needed 2.2m APE so over 4m USD fiat.
Steward runner up need 739k APE, so approx. 1.5m USD fiat.
A loan of 2m USD and the price drops 1% you lose 20k USD. If it drops 0.2% it lose as much as the runner up reward.
This is a terrible risk/reward trade. This doesnât even account for interest that would have to be paid on it. Also as the voting base expands the numbers needed will go up, so I donât think this is a problem giving the size of the reward.
Thanks so much for your reply @bigbull!
While lower quality candidates may not make it to round two, my issue isnât that someone not deserving would get the reward, just that it might increase the amount of people who apply because they think they may have a shot at it getting rewarded and what do they have to lose, especially if they donât really want the job anyway? It really wouldnât take much time to fill out the application to become a Steward and go through the KYC process. It would potentially bring additional KYC costs and time spent by the administration processing additional applications and slow down the process.
I agree with you here. I donât think it would be worth gaming the system to win these rewards.
I still disagree that it would encourage participation for the right reasons. There were other great candidates who also put in great time and effort, but did not make it into round 2. They still had to take on the financial risk to participate in the first round. This does not mitigate the financial risk for them. If the goal is to make the process more equitable in the future, how does a one time reward for the past runner ups encourage future participation for the right reasons?
I do appreciate the spirit of this in trying to help less well off candidates, I just disagree that this is the way to go about it. Did you consider @AllCityBAYCâs suggestion of teaming up with ThankApe to support them?
(edit: Though on second thought, there may be some of the same issues if itâs rewarded with Thank Ape, so would still need to mitigate those)
As I am not asking for any funds myself. If the funds go direct from the DAO or via ThankApe is not an issue to me. I made it separate AIP as this should be an application for additional funds outside of any funds ThankApe has already had an AIP passed to distribute.
I believe this is a kind gesture but I worry that some would join to game the system.
Also just speaking for myself: I would have declined this offer if it was in existence this round. I wouldnât feel comfortable accepting this but that is not to say I speak for others.
The receiver like with the ThankApe program can choose to convert to FIAT, hold as APE or donate it to whoever they like.
Hi ApeCoin DAO Community,
Our team has reviewed and discussed @bigbullâs 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,
Proposal Name: Reward finalists in the elections to make the process more equitable.
Proposal Category: Process
Abstract
AIP Idea: The idea is simple. Getting to round two of the elections takes a lot of work from the candidates. Less well off candidates may not put their name forward as they canât take the time off from their current work or not have earnings for this period. A one time award to the three runner up finalists in each category can make this more equitable.
N.B. the AIP is to run for a total of two election cycles.
Team Description
Motivation
Reward the runner up finalists who who have been promoting the ApeCoin Dao as they aimed to get elected.
Rationale
Making the process more equitable is a reward for the runner ups in the election. It could also be given next year in future elections. This will ensure future elections have a broad range of applicants from the community. The AIP is to run for a total of two election cycles.
Risk Review
Also it doesnât make sense to game the system to obtain this level of reward.
Special Council runner up needed 2.2m APE so over 4m USD fiat.
Steward runner up need 739k APE, so approx. 1.5m USD fiat.
A loan of 2m USD and the price drops 1% you lose 20k USD. If it drops 0.2% it lose as much as the runner up reward.
This is a terrible risk/reward trade. This doesnât even account for interest that would have to be paid on it. Also as the voting base expands the numbers needed will go up, so I donât think this is a problem giving the size of the reward.
Benefit to ApeCoin Ecosystem
It benefits the ApeCoin Ecosystem by encouraging participation in the election process with a range of candidates, as the process is very time consuming. The award level is set that it is enough to be thankful to receive but not so much that it is worth applying for roles just for the reward. It only applies to those who are runners ups in round two as those runner up finalists had to put in significant investment of time and effort as the main competitors. Overall this AIP will make the process more equitable and encourage broader participation.
It is retroactive for those that participated in the July 1st 2023 election. It will also apply to the next election cycle. Therefore in total two cycles. Please note the idea was added before the end of the last election cycle. Also after the two cycles it will require a new AIP to continue this Election Reward Program.
Measurements of Success
OKRs - Goal orientated:
KPIS - Numerical targets:
Specifications | A detailed breakdown of the platforms and technologies that will be used.
This is a simple AIP so the Funds can be distributed based on the normal AIP process of fund disbursements.
Also for the voting will be using snapshot.org* ApeCoin apecoin.eth.
Steps to Implement
Manpower: Internal Dao finance administration only.
Operational: Administration needs to facilitate the payment from the DAO. Funds can be sent directly from the ApeCoin Dao to the relevant round two runner up candidates. The funds do not need to be sent to my account first.
Grant Effectiveness Assessment: Requires GWG to track the progress of KPIs.
Timeline
Within 2 weeks after the snapshot closes if the AIP passes.
Overall Cost | The total cost to implement the proposal.
Special Council Runner Ups
*4,000 x 3 = 12,000 USD to be paid in ApeCoin
Stewards Runner Ups
*4,000 x 3 = 12,000 USD to be paid in ApeCoin
One Election Cycle cost = 24,000 USD to be paid in ApeCoin
Total Cost = 48,000 USD to be paid in ApeCoin
N.B. The final payment in ApeCoin will be based on the conversion rate at the time of payment.
Feedback Poll
Presubmission to Snapshot
To improve the AIP BEFORE going to snapshot please can you give feedback. You can select more than one option, but if you select âSubmit as writtenâ please donât select other options. Most appreciated.
Hi ApeCoin DAO Community,
@bigbull has responded to our questions and they are in our review once again.
Edits have been made to this Topic, by the author or by the authorâs request.
You can click the Pencil icon at the top of the post to see these edits.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Thank you, glad to move this forward. Finding ways to reward those that contribute to the health of the DAO is very important.
To this point, budgets have been determined in USD⌠why should this be any different? There is a scenario where 6,000 APE outweighs salaries (NFA) or vice versa (FUD)
I see the benefits and agree with the idea of paying to increase the candidate pool ultimately leading to improved infrastructure.
Good point, I will adjust to put in USD and if approved have it converted to APE on the payment day.
I changed this part:
Special Council Runner Ups
*4,000 x 3 = 12,000 USD to be paid in ApeCoin
Stewards Runner Ups
*4,000 x 3 = 12,000 USD to be paid in ApeCoin
One Election Cycle cost = 24,000 USD to be paid in ApeCoin
Total Cost = 48,000 USD to be paid in ApeCoin
N.B. The final payment in ApeCoin will be based on the conversion rate at the time of payment.
Hi ApeCoin DAO Community,
We have no further questions for @bigbull . This AIP is now under Administrative Review.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Hi ApeCoin DAO Community,
After review, this Topic submitted by @bigbull is ready for vote under AIP-293. The proposal will be posted on Snapshot at the next weekly release date and time, which is every Thursday at 9PM EST.
The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.
Kind Regards,
This proposal is live for vote on Snapshot. The voting period closes next Wednesday at 9PM EST.
The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimize for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.
Hi ApeCoin DAO Community,
The voting has closed for this proposal and it has not been accepted.
This Topic will be moved to and remain in the Rejected AIPs subcategory.