I think a little more clarity about AIP-3 is warranted considering we’re talking about a proposal from a generally unknown Company (The Cartan Group) to transfer $500M of $Ape coin to generally undefined projects. Specifically:
Confirm the numbers (6% of the 62% comprising the ecosystem fund or something smaller).
I would welcome further clarity about the Cartan Group
Would like confirmation of what is the minimum amount required for operations in Year 1 ($500M is a hefty budget)
Would like to understand the relationship between this $500M and the Seed Capital of $450M received by Yuga Labs.
I further oppose objective #5 and believe we should explore partnering with decentralized marketplaces vs. building our own as highlighted in the thread below.. The proposal itself discusses 4 Foundational categories but lists 5, it feels that the last one was added in haste.
Hi! I will comment where I can, but some of these questions are likely better for Cartan and the administrators to answer.
I believe that the proposal suggests using UP TO 6% of the ecosystem fund. You’ll recall that these proposals were written prior to genesis, so there wasn’t visibility into what token price would be at launch. This is also the budget for the entire year.
Cartan Group are the administrators of the DAO. They help manage the entire DAO operational process, from proposal to execution. One of the challenges many DAOs have is balancing decentralization with centralization (highly recommend reading Vitalik’s blog posts about governance). Cartan is there to ensure the DAO is operational and continues to move forward. They have been signed for a 6 month contract after which their services can be reevaluated.
I believe the hard costs in Y1 will be formation costs for the DAO, Cartan’s service costs, board compensation, and fees for the Discourse forum. I believe majority of the 6% budget being proposed are voluntary costs, based on expectations of what the community will build for the APE ecosystem.
Yuga Labs is a separate entity and independent from the APE Foundation.
Thanks Maaria! Very much appreciate the response and engaging in driving clarity. This helps a lot actually and I’m loving our active Bored members!
Would love further clarity from the Cartan Group so that everyone has the appropriate transparency.
In regards to the 6% of the ecosystem budget, this is a treasury allocation. Future proposals to use part of that allocation across verticals will be subject to voting and approval by the DAO as described:
“DAO members will vote throughout the year on the specific proposals within each category”.
Thank you for recommending Vitaliks thoughts on governance. I will look more into his thoughts on this matter. I like how you laid out this post. Thanks again and will be following for more!