AIP-295: Protect Snapshot - Must have 1 Apecoin to vote

Final AIPs Implemented AIPs
1

Proposal Name: Protect Snapshot - Must have 1 ApeCoin to vote

If you agree to the proposal please click the button top left “vote yes”. Also if you like it give it a heart. Finally comments most welcome.

Proposal Category: Process

Abstract
AIP Idea: 1 ApeCoin minimum to vote in snapshot. Remove bots and reduce individuals trying to game future benefit from voting with tiny quantities of ApeCoin.

Author Description
I have been in crypto since 2019 and NFTs since end of 2020, early 2021. In 2022 invested in some Blockchain companies private rounds. The last week, I decided to go deep dive into ApeCoin Dao and now after reading approximately 6000 posts and almost 80+ comments I can confidently say I have the base knowledge of the history here.
Bigbull Twitter
Profile - bigbull - ApeCoin DAO

Team Description
Can be done internally by the administrator of the snapshot tool.

Motivation
Improve the voting mechanism in ApeCoin Dao.

Rationale
It aligns with the values of the Ape community which often states you need a minimum of 1 ApeCoin to participate. This is the requirement for the Discourse official channel.
The slogan is “1 Apecoin = 1 vote” Not “0.0001 Apecoin = 1 vote”

Screenshot 2023-06-23 at 09.26.14
Screenshot 2023-06-23 at 09.26.141564×1396 360 KB

Example showing how under 1Ape can vote

Screenshot 2023-06-23 at 10.09.30
Screenshot 2023-06-23 at 10.09.30508×514 25.2 KB

Benefit to ApeCoin Ecosystem
It is important that the governance rules on Apecoin.com are followed and our processes reflect the setup at founding on the assumption there have not been AIPs that passed to change that governance process.

Key Terms
Key tags:
Snapshot - Introduction to Snapshot - snapshot
Strategies - Strategies - snapshot
Voting Strategies - Voting strategies - snapshot

Specifications
Snapshot tool strategy update. The default strategy is erc20-balance-of - it calculates the balance of a predefined ERC20 token for each user. This would need to be customized with a minimum balance of 1 ApeCoin. For example: Snapshot
Current strategies can be viewed here - Snapshot

Steps to Implement
Manpower
Technical:1. Write the new strategy; 2.testing of the strategy on a test account; 3. Update the strategy in the live. Snapshot
Operational: Administration needs to approve the modification of the snapshot strategy.

Timeline
After snapshot passes it could be implemented in under 1 day. Technical work would be under 1 hour.

Overall Cost | The total cost to implement the proposal.
0 ApeCoin to author, there could be a fee from the snapshot administrator, but the amount should be minimal.

16 Likes
3

Seems logical to me. And you nailed this part…

AC

15 Likes
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Yeah, this makes sense. I am however very thankful for the .71 above. Hahah!

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Good catch! And this is at least 20 characters, because there’s a minimum requirement to post too.

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Wow… TIL you can vote with less than 1 APE. Sounds like a loophole for people to artificially bump up voter’s count.

Good catch and I’m all for it!

4 Likes
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I was putting together a spreadsheet to airdrop my art or NFT to all my voters.

Little did I know 60 addresses were under 1 APE votes.

What do I in this scenario, please advise me intelligent members of the forum.

6 Likes
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Makes sense, great job there.

3 Likes
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I didn’t know voting with less than one ape was possible. Seems reasonable, especially while the price of $APE stays in the current range. If $APE becomes much more valuable, we may need to re-evaluate this in the future.

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Question. Where does this appear?

Semantics / intent: Is it the case that instances of < 1 vote for a candidate isn’t due to someone splitting their > 1 $APE vote among more than 1 candidate?

If so, they did have at least 1 $APE to vote.

1 Like
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Well, unless $ape reaches triple digits, keep 1$ape = 1 vote :rofl:

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I wouldn’t be against three digits :rofl:

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Link to ApeCoin voting mechanism

@br00no FYI the italic I added and was not in the original text. This is from the official ApeCoin website.

  1. DAO members vote on Snapshot. One ApeCoin is equal to one vote. As votes cannot be divided into fractions and the total number of votes shouldn’t ever exceed the number of tokens minted, the number of votes will be rounded down if a fractional number of tokens is owned by the voter (i.e., 100.1 tokens will result in 100 votes, and so will 100.9 tokens). The voting options for a Live AIP are “In favor” and “Against.” Voting “In favor” means the voter is in favor of implementing the AIP exactly as-is. Voting “Against” means the vote is against implementing the AIP exactly as-is — you may vote “Against” to encourage the author to resubmit the AIP after making changes.

1vote
1vote2212×1338 185 KB

4 Likes
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@mattborchert I answered in more detail on the previous response. However, One ApeCoin is equal to one vote is clearly on the official ApeCoin website and votes cannot be divided into fractions.

Changing to allowing fractions even if ApeCoin is 10x from the current fiat price or it is 100x would require a change in the voting process.

3 Likes
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Right on point, sometimes I feel like its trolling when people vote with 0.00001 $ape

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Certainly, I mostly just called it out as a long-term future consideration.

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Thanks. Some contradictions appear, such as explaining how fractions are handled by rounding.

EDIT: I didn’t notice previously in the example above it only rounds down not up, so 0.71 would round down to 0.

That wording also does not account for votes other than “In favour” and “Against”, which is not how election votes are posed.

2 Likes
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Hmm, you could also read that text as fractional votes are allowed, but it rounds down the final number.

So you can have 1.71 + 0.75 = 2.46 total, which would then show as 2 for final # of votes the person/choice received.

It’s 4:20am here, so I’m hazy (not a joke, actual time) - could you explain how fractional votes hurt anything other than “inflating” someone’s vote count on multiple wallets which currently has no benefit afaik? I mean if someone is trying to count something across multiple wallets, they prob most def have enough money to do it with 1 ape in each wallet, too… or am I just, you know, foggy when thinking about this :smiley:

1 Like
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The process is by wallet therefore 2 wallets is counted as two voters. We don’t KYC so this makes sense. Also no reason not to move your ape to 1 wallet to vote or to not put as a whole number in your wallet for voting. This is important as now you could have billions of votes and the rule is the maximum number cannot exceed the maximum number of tokens. Therefore in your example above it would be a total vote count of One not two.

1.71 = 1 vote
0.75 = 0 vote (anything below 1 is counted as zero)

6 Likes
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FYI Also mentioned here:

  • Equality: One APE equals one APE.
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https://immunefi.com/bounty/apecoinmainnet/

Is this only for bugs in the smart contract code? As this is a coding bug in the snapshot strategies code?

@Vulkan

3 Likes