Appreciate your quick reply. Thanks for being straightforward. I think there is a bit of a misunderstanding. As Amplify mentioned, it doesn’t require anything from the DAO, the 10k seed is also optional. It would be up to each $APE holder to choose whether to deposit or not.
I don’t see why it’s not a win-win. Babylon would potentially receive TVL and APE holders will have more utility for their coins at no expense. It’s up to them to stake them in the garden or not. It has literally no downside.
Also, the other staking proposals are literally asking for hundreds of thousands of dollars and weeks of development.
First mover advantage is a big thing. If apecoin dao essentially endorsed you by running their rewards through you asset management platform, most people would just stake and consider it the place to to go.
I am not here to bring you down or be negative for no reasons, I just don’t feel that a free staking platform should be the catalyst to push everyone holding $ape to your project.
I also feel that if this were to pass, the mechanics of your proposal should change where you put the money up to incentivize people to use your platform because it would be an absolute game changer for you projects trajectory.
Big projects pay a lot more then 1.8 million dollars In marketing dollars for the type of mass influx of users and they would be coming to your platform not to mention $ape would instantly become at least 30% of your TVL
Thank you again, but I have to chime in and clarify once more that we are NOT building a system that draws Apecoin DAO rewards from Apecoin DAO’s treasury.
The Apecoin DAO (as this proposal is written) would not be funneling APE rewards into Babylon for distribution to Babylon’s users.
Again we are merely creating an optional investment vehicle for APE holders who wish to earn semi-passive yield on their APE coin holdings.
I think you are missing a what I’m getting at. An approved proposal for this would move everyone towards this project to use. I never said anything about funneling $ape to Babylon users. But we all know that ape users being funneled to Babylon platform will bring.
I understand the proposal
What I’m saying is I don’t have enough backstory or history on this project to make it the first endorsed asset management platform from apecoin. We are the hottest coin in the market.
You can always launch it yourself and let the people decide right?
I too work in the industry and have an entire ecosystem of projects that I could write proposals for to implement apecoin, but my interest lay with the project and protecting its brand. I will always give my honest opinion. It’s still a no for me until I see a more equal value play
Thank you for all of your honest and compelling comments, I really do appreciate a dialogue around any proposals that have the potential to move the space forward.
I really would like to see this go to a Snapshot vote and see what the community thinks.
This is 100% what we will do. After there are “official staking mechanics” released, this Ape Garden will direct capital towards it just like any other APE holder.
You will probobly get a great response. Everyone wants more money they probably won’t take the time to hash out the subtle nuances and implications.
My proposals that I’m writing don’t have any alterior motive they are to enrich the dao and make it stronger. This proposal is essentially a partnership proposal blanketed with utility due to its first mover advantage
It seems as if we are going to be spending thousands of dollars to do our own protocol anyway, so while I don’t see much wrong with this idea, it would seem redundant to have two staking protocols when we are building an official one.
Thank you, I’m happy the DAO is moving forward. As mentioned previously in the thread, and taking context from the Apecoin DAO twitter spaces with the special council, this proposal does not interfere or compete with AIP’s 21 & 22. This proposal is asking for a ~10k APE allocation to an investment club that would funnel revenues back into the treasury.
No new ape will be distributed if this proposal passes, and this proposal should not be on “pause” because it does not implement any new APE distribution mechanisms like AIP’s 21 & 22.
Fully understood, my main question is if the big players can be swayed to want to invest more into another staking mechanic when it would make more sense to encourage people to use the one they are building.
I understand your concerns. As this will be an APE coin denominated investment vehicle, we will do everything we can to bring low risk APE denominated yield to our members.
To this end, when the official staking mechanic goes live, this investment club will direct capital towards it like any other Apecoin DAO member. This just amplifies yields from the APE coin staking contracts, as well as previously discussed low risk yield farming strategies.
In addition to all this, members in the garden will be splitting the gas costs to stake, claim, exit, etc so it really is just a more capital efficient way to deposit into the Apecoin staking contracts.
Thank you @Amplify 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 the here as further updates will be posted here in the comments. @Amplify please see your messages for the next steps.
