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
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.
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.
Profile - bigbull - ApeCoin DAO
Can be done internally by the administrator of the snapshot tool.
Improve the voting mechanism in ApeCoin Dao.
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”
Example showing how under 1Ape can vote
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.
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
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.
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.