AIP-317: ApeCoin DAO Governance and Operations Budget

PROPOSAL NAME: ApeCoin DAO Governance and Operations Budget
PROPOSAL AUTHOR: ApeCoin DAO Governance Working Group Stewards
PROPOSAL CATEGORY: Ecosystem Fund Allocation

ABSTRACT:

French: Here
Spanish: Here
Japanese: Here
Simplified Chinese: Here

The primary objective of this budget proposal is to outline a strategic plan for the Governance Working Group (GWG) that ensures continued smooth operations of ApeCoin DAO and effective management of the AIP process. It initiates a more decentralized ApeCoin DAO through the GWG adopting a new non-profit DAO LLC structure, distinctly separate from the Foundation as a grouping of grant recipients and service providers.

The budget also includes provisions for conducting inclusive third-party sustainability and compliance studies tailored to the ApeCoin DAO and outlines plans to create a global community committee, bringing representatives together from delegations worldwide in a think-tank environment. Additionally, there are plans for a governance-centric community rewards program to incentivize actionable suggestions for operations process improvements.

An ApeCoin DAO voting and AIP analytics dashboard will be developed and a collaboration with Alex McCurry and Solidity.io will elevate the Apecoin.com website by providing language selection choices and enhancing the overall user experience to motivate visitors to delve deeper into the ApeCoin ecosystem. The GWG will closely coordinate with the recently approved Marketing & Communications Working Group to ensure that alignment with the ApeCoin brand identity is adhered to.

The proposal presents a comprehensive framework of Objectives and Key Result (OKR) measurements designed to ensure accountability, inform the community about initiative progress, and hold Governance Working Group personnel accountable for their roles.

The Governance Working Group is a seven-person team comprised by Amplify, ALL CITY, Tiger, Lost, 12Guage, CryptoLogically and Vulkan.


Author Description:

Amplify has been active in the ApeCoin DAO since it’s inception and BAYC since June 2021. He currently serves as the Lead Steward of the Governance Working Group. He is also the lead author of AIP-239: Working Group Guidelines and co-author of AIP-196: BORED AIP: Bringing Order and Reliability via Ecosystem Decentralization. Amplify has over 7 years experience trading, being early and active in DAOs, using DeFi and collecting NFTs with ~4,000 txns at his public ENS 0xamplify.eth. He has managed significant on-chain assets and serves as a multisig-signer for ThankAPE, and the ApeCoin Marketplace.

TEAM DESCRIPTION:

The ApeCoin DAO Governance Working Group is stewarded by Amplify, ALL CITY, and Tiger. Amplify has extensive DAO experience, co-authored The Working Group Guidelines and managed significant on-chain assets. ALL CITY’s expertise in compliance-focused project management and consulting has made him a key contributor to multiple successful proposals that fall within the ApeCoin DAOs scope. Tiger, with over a decade in business project management and a love for DeFi, co-founded the Ladies of BAYC and led growth for renowned NFT brands. Collectively, under the guidance of strategic legal advisory, shape the DAO’s governance and operational blueprint.

The Discourse Facilitator team, comprising Lost, 12Gauge, and Cryptologically, holds a critical responsibility in coordinating between AIP authors, the Cayman administration, and Special Council. They help to execute all nine of the steps of the AIP process seven days a week and maintain an average response time of less than twenty-five minutes. Additionally, the team takes on responsibilities such as Discord and Discourse moderation, ensuring adherence to platform rules, producing comprehensive AIP analysis reports and promote transparency through follow-ups with grant recipients to gather data and provide progress updates for the DAO, as shown on their weekly Facilitator Notes posted in the Help & Resources channel of our Discourse forum.

Vulkan, currently serving as the ApeCoin DAO Secretary, closely monitors DAO metrics and tracks AIP statuses, keeping stakeholders informed. His role in inter-DAO communication has enhanced ApeCoin DAOs presence in the larger ecosystem. Vulkan also handles content creation, including DAO newsletters and meeting minutes, promoting transparency. Additionally, he actively supports key committees like the Ape Assembly, emphasizing his dedication to the DAO’s operations.

MOTIVATION:

The primary goal of the Governance Working Group is to facilitate the day-to-day operations of ApeCoin DAO. This involves managing various aspects such as the AIP (Ape Improvement Proposal) process, community committees, and other initiatives. Additionally, the group aims to introduce innovative processes and technologies to enhance the community’s overall experience.

The long-term objective is to shape a flexible organization that can effectively adapt to challenges within the dynamic Web3 ecosystem, extending beyond traditional grants.

In summary, the overarching motivation behind these efforts is to create an organization that is fiscally responsible, capable of funding initiatives, salaries and other ongoing operations in a sustainable manner.

BUDGET CATEGORY RATIONALE:

Personnel

Personnel: The GWG team holds substantial expertise in project management and specialized knowledge in DAOs and DeFi, coupled with an intimate comprehension of ApeCoin DAO which positions us well to execute operations that consistently prioritize the community. Our responsibilities encompass formulating and executing governance and operations strategies and budgets, in addition to facilitating the AIP process – with no increase in salary being requested.

Operations

Operations: This includes, but is not limited to Discord and Discourse security and tooling, ApeCoin DAO-centric ChatGPT solutions, translation tools and improvements for both Discord and Discourse platforms, and any additional products and services that may arise.

Professional Service Providers

Professional Service Providers: Incorporating professional service providers in fields such as legal, accounting, and consulting is crucial for establishing a solid foundation. Their expertise not only enhances the strength of our existing operations but also lays the groundwork for future working groups. Additionally, they will serve as a review board to ensure that messaging from the GWG remains clear, concise, and free from any confusing language that could lead to avoidable misinterpretations.

Research and Development

Research and Development: In order to steer the transformation of ApeCoin DAO into a dynamic entity, we recognize the critical importance of participating in strategic initiatives. These encompass commissioning third-party research to create an economic sustainability roadmap and emphasizing a protocol-centric approach to DAO governance. The GWG’s intention is also to offer an invaluable foundation for forthcoming Working Groups through the outcomes of this research.

Community Committees

Community Committees: The establishment of committees is pivotal for the ApeCoin DAO to advance its decentralization efforts and enable community members to enact significant transformations. The Ape Assembly comprises our most enthusiastic and engaged members and the proposed Global Community Council will help better-align representatives from delegations around the world.

Contingency

Contingency: One months worth of operations.

BENEFIT TO APECOIN ECOSYSTEM:

This proposal is aimed at enhancing the ApeCoin ecosystem in multiple ways. First, it seeks to uphold our commitment to providing seamless day-to-day DAO operations and an efficient AIP process. It introduces critical research and development ventures focused on broader economic sustainability and compliance for the ApeCoin DAO. Moreover, it places significant emphasis on community empowerment through various committee programs, thereby giving community members a more impactful role in the ApeCoin DAOs decision-making processes.

To recap, the proposal’s core benefits encompass continued operational efficiency, sustainable legal frameworks, fiscal responsibility towards DAO spending, innovative R&D initiatives, and enhanced community involvement.

  1. Ongoing Operations of the ApeCoin DAO: Continue to effectively manage the day-to-day operations of the ApeCoin DAO including AIP processing, facilitating Discourse and Discord, overseeing elections, drafting and implementing budgets, coordinating community committees, and implementing process improvements.

  2. Sustainability and Compliance Strategies: Contract research firms to gain actionable insights and assess on-chain structures to better understand economically sustainable options for the broader ApeCoin DAO, prioritizing a non-custodial environment.

  3. Increased Adoption of APE: We anticipate that our sustainability study and enhanced governance will stimulate both adoption and value within the ecosystem. This will offer an essential strategy for the APE token, enabling its widespread utilization across DeFi and web3 platforms.

  4. Enhanced Transparency: Provide detailed quarterly reports on expenditures, offering comprehensive insights into the DAO’s spending patterns for the community, while identifying potential areas for optimization.

  5. Building the Working Group Blueprint: As the first Working Group to be established and newly assembled, we will take no chances in building a safe, compliant organizational structure with the right professional service providers and advisors mentoring our every step. Our goal is simple: to become the gold standard of all Working Groups and build out the framework for others to follow.

  6. Website and Dashboard Development: Elevate the user experience on Apecoin.com by creating a captivating interface that welcomes users, enables language selection and motivates visitors to explore and discover more about ApeCoin and the ApeCoin DAO. Our governance dashboard will display real-time analytics on key voting and AIP metrics as well as the ApeCoin DAO treasury.

  7. Community Empowerment: Increase decentralized decision-making within the ApeCoin DAO and empower members to drive impactful change through committees and other initiatives aimed at providing a larger voice to constituents.

KEY TERMS:

Initiative

Initiative: Projects or processes that fall within the scope of a Working Group. This encompasses any activities carried out by individuals for the DAO within the purview of a Working Group, utilizing a budget that has been either approved or designated to or by that specific Working Group. As initiatives, it is the corresponding Working Group’s duty to adjust their scope, or terminate if deemed unsuccessful.

Funding Window

Funding Window: Occurring biannually, within the last 15 days of February and August, Stewards can present Budget Proposals for thorough evaluation by the DAO. This time frame serves as the expected period during which Stewards unveil their proposed budgets for the upcoming interval, but can be put up for request at any time.

Request for Proposal (RFP)

Request for Proposal (RFP): A formal invitation inviting bids from competent contractors to undertake a project or fulfill a specified task.**

OKR (Objectives and Key Results)

OKR (Objectives and Key Results): A strategic method used by Working Groups to set goals. OKRs are a goal-setting framework that helps teams and organizations define clear and measurable objectives and track their progress through key results.

SPECIFICATIONS:

The Governance Working Group is approaching the finalization of all four OKRs outlined in AIP-239. Their current focus is directed towards the formal ratification of the legal structure for the Ape Assembly as a committee under the GWG DAO LLC.

  1. Published the ApeCoin DAO Handbook detailing the current ApeCoin DAO structure
  2. Facilitated Special Council election process
  3. Facilitated Governance Working Group election process

The GWG is currently working with the following service providers:

  1. Meta Law

    • GWG legal counsel
    • Meta Law team members have been involved in the crypto sphere since 2013, providing regular counsel to NFT projects, matters related to securities law, and DAO governance structures. Their experience in tech and startup law equips them to offer expert guidance to web3 platforms, including exchanges, marketplaces, and other SaaS products.
  2. Alex McCurry, Solidity.io

    • GWG website development and tech consultant
    • Solidity.io offers solutions encompassing consultancy and technology services such as smart contract, website and mobile app development. Their expertise extends to smart contract audits, protocol development, and liquidity management, supporting organizations in realizing their goals within the blockchain ecosystem.
  3. ThankAPE

  • GWG rewards program partner
  • ThankAPE is a decentralized, automated rewards program spawned out of AIP-124 and operated by ThriveCoin.

STEPS TO IMPLEMENT:

The Governance Working Group will take on these distinct Objectives and Key Results (OKRs) to be achieved by the next Funding Window in February, 2024. These OKRs serve as a compass for our paramount Initiatives, offering a means to gauge and quantify our advancement.

OKR1: Publish Technical & Governance Documentation

1. OBJECTIVE: Improve ApeCoin DAO transparency by publishing comprehensive technical and governance documentation.

  • Key Result 1: By February 28th, develop and publish ApeCoin DAO governance documentation on Gitbook, encompassing the governance structure, relevant AIPs, decision-making processes, voting mechanisms, and community engagement guidelines.

  • Key Result 2: Host the documentation on docs.apecoin.com.

  • Key Result 3: Include a prominently positioned link to the Governance Documentation directly on the ApeCoin website’s homepage, with the aim of achieving an 80% increase in visits to the ApeCoin DAO governance documentation Gitbook.

OKR2: Launch Governance & Community Participation Dashboard

2. OBJECTIVE: Elevate ApeCoin DAO governance transparency with a user-friendly governance and community participation dashboard.

  • Key Result 1: Design and deploy a dynamic, Snapshot-enabled dashboard that showcases real-time community participation metrics such as voting rates, live proposal statuses, detailed voting outcomes, and community engagement.

  • Key Result 2: Deploy and host on vote.apecoin.com.

  • Key Result 3: Enhance user accessibility by integrating a clearly visible link to the Governance Dashboard directly from the main ApeCoin website

OKR3: Launch Community Governance Improvement Program

3. OBJECTIVE: Drive community engagement through the launch of the GWG Community Governance Improvement Program.

  • Key Result 1: Develop and formalize detailed policies and procedures for the efficient submission, categorization, and review of community suggestions, improvements, and ideas.

  • Key Result 2: Outline and publicize a comprehensive incentive structure for accepted submissions.

  • Key Result 3: Design a clear and effective pathway for the implementation of vetted and tested submissions, with the goal of assessing at least 10 community-led improvements by February 28th, 2024.

OKR4: Economic Sustainability & Compliance Study

4. OBJECTIVE: Explore economic sustainability options through a comprehensive third-party compliance study.

  • Key Result 1: Publish a request for proposal (RFP) and begin communicating with recognized third-party research firms to embark on a detailed study, scrutinizing sustainable DAO operations and initiatives, with the aim of unearthing actionable insights for the ApeCoin DAO community.

  • Key Result 2: Dissect and assess diverse on-chain structures, prioritizing those that resonate with the ApeCoin DAO’s guiding values while promoting a non-custodial environment. The goal is to shortlist at least three suitable structures to explore further.

  • Key Result 3: Provide a comprehensive compliance and regulatory analysis for each shortlisted structure, ensuring the identification of potential risks, requirements, and opportunities to the ApeCoin DAO community. This should lead to a final report that offers a clear recommendation on the most viable structures Before February 28th.

OKR5: Optimize the ApeCoin Website

5. OBJECTIVE: Optimize the ApeCoin Website for Enhanced User Experience and Engagement.

  • Key Result 1: By November 15th, begin work on the website with Solidity.io.

  • Key Result 2: Revitalize the ApeCoin DAO website by February 28th, prioritizing a captivating design, enhanced user experience, and clear tab visibility to foster more interaction and learning about the DAO.

  • Key Result 3: Provide the ApeCoin DAO community with a comprehensive qualitative and quantitative website traffic and performance report within three months from launch.

OKR6: Global Community Council

OBJECTIVE: Strengthen the ApeCoin DAO’s global alignment and engagement through the establishment of the Global Community Committee.

  • Key Result 1: Establish a formidable Global Community Committee

  • Key Result 2: Implement a revolving seat mechanism to ensure that we are promoting diverse representation and perspectives from more global constituents and delegations.

  • Key Result 3: Schedule and conduct monthly meetings.

OKR7: Facilitate November 2023 Special Council Elections

OBJECTIVE: Facilitate 2024 Cycle 1 of the Special Council election process beginning in November 2023.

  • Key Result 1: “Publish Nomination Announcement – Ape Foundation Special Council Term Beginning January 2024” on the ApeCoin DAO Forum on November 1st, 2023.

  • Key Result 2: Publish the Special Council Nomination Profiles on the ApeCoin DAO Forum on November 22nd, 2023.

  • Key Result 3: Facilitate the community vote period from December 7th until December 21st.

OKR8: Facilitate November 2023 Governance Working Group Steward Elections

OBJECTIVE: Facilitate 2024 Cycle 1 of the Governance Working Group election process beginning in November 2023.

  • Key Result 1: “Nomination Announcement - Governance Working Group Steward Term Beginning January 2024” on the ApeCoin DAO Forum on November 1st, 2023.

  • Key Result 2: Publish the Governance Working Group Steward Nomination Profiles on the ApeCoin DAO Forum on November 22nd, 2023.

  • Key Result 3: Facilitate the community vote period from December 7th until December 21th.

TIMELINE:

Summary

See proposal Abstract section:

OVERALL COST:

This budget proposal requests the allocation of APE tokens totaling $488,600 USD to cover the ApeCoin DAO’s six-month governance and operational needs.

Budget spreadsheet download.

The Governance Working Group shall invoice the Foundation against this budget as needed but still reserves the right to take custody in full, as approved through this AIP.

7 Likes

Reserved for comment

1 Like

I came across a reading piece the other day that said:

"Governance over complex and multifaceted analytical issues is a strange environment. It quickly descends into politics.

I have extremely little faith that coin-voting communities of retail investors will vote for the best medium-term outcomes, and in fact will more likely vote for damaging medium-term outcomes.

Sushi treasury went from $1bn to $30m in a year. I don’t know if that is exaggerated, or fictional, but think this will be a common story of many failed DAOs in time".

I do not want to fail as a DAO and I believe Governance in a DAO is needed to manage/help members with their AIPs but the priority before we give out salaries of up to $58k a month (+ $56k a month for the rest) to these roles should be in:

Equity spent acquiring and incubating utility, building revenue streams and creating a sustainable DAO

After that is achieved we could spend more aggressively on internal structures. But right now I believe we should mainly focus on solving the above mentioned.

6 Likes

A lot of room for feedback from the community on this and we encourage all of you to participate in the polls to provide us with a broader understanding of what matters most to you… DMs always open.

AC

5 Likes

Very well written with priority to the point. Personally excited about the community initiative and R&D. Hopefully this would bring in the necessary transparency and efficiency in AIPs that we all want. Lots of great people and ideas out there that need to building around $ape.

Good luck guys!

6 Likes

Thank you for the kind words Evil!

Hoping that we can provide it for you!!

AC

4 Likes

Also think this is a necessary part of building robust structures for the long term.

4 Likes

We think so too fam.

Regardless of results, I am really happy to have this up. It was an incredible amount of work putting together in the last few weeks, changing shape many times, but always with an emphasis on getting things right.

Excited to start problem solving way more of our day-to-day Governance needs now that our biggest mandates are behind us.

AC

5 Likes

Good morning. I think this lean approach to governance is a positive thing. It’s easy to look at the list of initiatives and find areas of interest or similar alignment. Research and development is promising. Global community councils & more are complex w/ the existence of BAYC Council and Special Council in the same ecosystem, so exploring areas where all can connect could be a great thing.

I’m glad to see a firm direction so I know what to expect and where to contribute. It could be a positive thing to add a few facilitators and have them act as first-contacts on forums and the ones responsible for asking questions and guiding conversations in threads, as well as removing users or more. Maintaining high thread quality is important. When someone approaches they need welcomed!

This is an agreeable direction and the use of RFPs for app and website development is smart, and chatGPT solutions for this DAO changes the game entirely. Putting efforts into R&D sells me on it all. Would love to hear from the facilitators and from the people involved to getting upto here abt their experiences and why they think this is the right way forward. The timeline & all is well done.

6 Likes

Reserved for comment after analysis.

If someone is eager, will most likely be related to Ape Assembly.


Edit 1: Taking an objective look at the budget data - this first step will help look at what input is given.

A. Budget Items listed in descending order (here you can see which items are top, which could give a sense of importance for each item)

Category Item Budget Percent
1 1. Personnel Governance Stewards 162,000 23.65%
2 1. Personnel ApeCoinDAO Discord and Discourse facilitation 144,000 21.02%
3 4. Research & development Website and mobile app development 45,000 6.57%
4 1. Personnel ApecoinDAO Secretary 42,000 6.13%
5 3. Professional service providers Legal (consulting and reviews 10hrs/mo) 39,000 5.69%
6 2. Operations Operations reserve (new products, additional comms) 30,000 4.38%
7 3. Professional service providers Insurance (non-profit and board liability) 30,000 4.38%
8 4. Research & development Sustainability and compliance study 30,000 4.38%
9 4. Research & development IP empowerment study and consulting 25,000 3.65%
10 5. Community committees Global community council 21,000 3.07%
11 5. Community committees Ape Assembly (*40,000 cash on hand) 20,000 2.92%
12 2. Operations Governance comms 18,000 2.63%
13 4. Research & development Community governance improvement program 18,000 2.63%
14 6. Contingency One month operations reserve, insurance, legal, accounting, bots and tooling 18,000 2.63%
15 3. Professional service providers Corporate structuring (LLC etc) 15,000 2.19%
16 5. Community committees Ape Assembly improvement fund 15,000 2.19%
17 2. Operations Discord/Discourse bots and tooling 9,000 1.31%
18 3. Professional service providers Bookkeeping and accounting 4,000 0.58%
Total 685,000

B. Budget Items represented in a pie chart (here you can see the items more visually, and see what percent of budget is the specific item)

C. Budget Categories percentage of budget table and pie chart (here you can see the breakdown with the general category provided instead of item by item)

Category Percent
1. Personnel 50.80%
2. Operations 8.32%
3. Professional service providers 12.85%
4. Research & development 17.23%
5. Community committees 8.18%
6. Contingency 2.63%

Stay tuned for Edit 2: what are the key takeaways from budget data.

Edit 2: Key takeaways from budget data - simple high level sentences from numbers

Category

  • Personnel category is 50.80% of the budget, simply 50% of expenses will be salary
  • Next highest category budget is Research & development at 17.23%, simply this section is being given high importance
  • Third highest is Professional service providers at 12.85%, simply stewards will pay 1/10th of the budget to outsource work (around 1/5th proportionately to total personnel expenses)

Items

  • Governance Stewards (23.65%), ApeCoinDAO Discord and Discourse facilitation (21.02%), ApecoinDAO Secretary (6.13%) make up 50.80% of the budget, simply half the budget will be used to run the Governance Working Group
  • Ape Assembly (*40,000 cash on hand) (2.92%), Ape Assembly improvement fund (2.19%), Global community council (3.07%) make up 8.18% of budget, simply 1.6/10 proportion of above running GWG budget will be used to activate 8 times the number of people (estimate 7 GCC + 50 AA snapshot)
  • Governance comms (2.63%), Community governance improvement program (2.63%) make up 5.26% of the budget, simply besides the GS, additional effort will be put in governance, 1/3 in proportion to Research & development budget

Stay tuned for Edit 3: Proposal updates, key changes and numbers.

9 Likes

An excellent and much needed proposal!

3 Likes

This is essential to lay a strong foundation which can then be leveraged to do a lot of great work. Cheers!

3 Likes

I love how the detailed breakdown table is presented. Looks like it’s planned nicely and very organized.
Loads of action items in this but I trust the team to build and deliver!

4 Likes

I like how the OKRs are laid out, and the budget looks good.

The one thing I would say is the budget for the two apps seems a little low, and there will be operational spending on a monthly basis to run the infrastructure for push notifications, crash reporting and marketing efforts such as graphic design.

Instead of saying “major app stores”, I would specify Google Play and Apple Appstore. Because also modifying and testing the apps to go into the Amazon fire store, and the Galaxy store are additional work that need time and effort, it is not zero cost to add to other app stores.

4 Likes

Great insight Dar… We’ve been in communication with two providers to compare notes and up until now, this hadn’t been brought up as any sort of significant expense — so appreciate this insight and putting it into our notes to follow up on. Would love to chat more on the topic if you’re interested :+1:

AC

2 Likes

And wow! Thank you for all of the support @0xSword @normie and @pratik!!

Means a lot!! Let’s go!!!

AC

1 Like

I’d love to chat, I can help evaluate the app proposals if needed. Send me a DM and we can figure out how to connect.

2 Likes

Love this… And the positive feedback.

Hollering now.

AC

1 Like

Thank you fam!!! Means a lot!!!

2 Likes

This is really great, and has much needed details and transparency. Well done, chaps! :fist_left:

I do have some thoughts for further discussion.

While this looks good on paper, I think you guys will find that it’s not that simple. Corps spend millions a year on specific R&D into their IP, how to market, utilize and grow it etc. Which brings me to this:

  1. The IP in question here, are the Yuga Labs & Animoca Brand NFTs.
  2. The $APE token is crypto currency and not regarded as IP.

Both of the IP owners are already funding various initiatives related to their IP. As such, I don’t believe that this sort of activity is in the best interests of the ApeCoin DAO.

So, my question is, what was the intrinsic goal here? No amount of studies or consultations are going to yield any new tangible results based on pre-existing engagement metrics.

And why would the DAO engage in expenses related to NFTs and IPs?

I believe - and this is free advice - that the DAO needs to focus on one thing and one thing only:

Engaging in activities that sustain and grow the DOA, and in turn, the $APE token.

For one thing, no matter the initiatives or best intentions, no AIP is going to get past the voting process. As has been shown time and time again, even the best ones (in the interests of the DAO) fail to pass. There is absolutely no getting around that.

So, what happens when all this money goes into these initiatives, put up for vote - and subsequently fail? Then what? In fact, this paradox is inherent in game sales. A publisher can put out as many games as they like, but the reality is that very few of them will actually recoup costs, let alone turn a profit. It’s also the F2P game model whereby 1 person pays for the 1m who aren’t. That’s our current voting system. You could throw 10 reasonable AIPs at the voting mechanism, and it’s likely that only 1, maybe 2, will pass. That’s a lot of time, effort, and energy wasted. That’s why we’'re not seeing that many AIPs - at least not ones that are detrimental to the growth of the DAO.

IMO, this is a waste of time, effort, and funds.

A better use of those funds would be in creating - outside of the voting process - a fixed yearly budget, voted on once, and used for funding tangible initiatives which the working groups decide on.

e.g. Say the WG gets a $2M a year budget to “promote the adoption of ApeCoin & $APE”. External parties, e.g. game devs, marketers, builders etc. are engaged and incentivised to build for $APE. The result is that you get a flood of apps, initiatives etc that adopt $APE. And they don’t have to be great, they only have to be good enough to be engaging. At the end of the day, it’s just marketing.

In fact, above is what AIP-209 got $480K to do, even though the way it’s gated all but guarantees that it’s going to run out of those funds before it gets a single [credible] builder to build through it.

Both Simon and Jonah came up with similar ideas in their $20M AIP publishing plans which I personally believe are too ambitious and under-funded to make any real impact. Aside from that, it’s what I have been saying for as long as I have been here.

Which brings me to the Metaverse Working Group. I recently withdrew my candidacy for various reasons. I mention MWG here because it’s relevant.

While some people assumed that the MWG was setup so that we could go “build all the things”, that’s not what AIP-245 says.

This is the abstract by @badteeth

AIP-245_01

Look familiar? It should because it’s basically within the realms of what’s now being rolled into the GWG ops and budget.

But wait! There’s more.

See that? Badteeth already did all this work. It’s now August, and not only is the AA not a thing, but literally nothing related to AIP-245 has been done as of yet.

So, my conclusion is that instead of wasting time, energy and resources on a $25K expense that’s not going to yield any tangible results, let alone the fact that it already overlaps with MWG, that money and task should be removed because it’s just a waste. And if the DAO really wants to throw $25K into a fire pit, donate it to my charity of choice, and I’ll write a 100K word essay on why it’s a terrible idea. I’ll even include pictures and charts.

Similarly, the $30K allocated to this should go to the legal funds covered by the “Contingency” pool because we’re going to need it. When the legal (SEC/CFTC) fight comes to this DAO - and it’s not a matter of if, but of when - we’re not going to have time to be writing up AIPs for a legal defense fund. Or are we?

Also, since the AA is responsible for the election of the three MWG stewards, shouldn’t that funding be part of the AA budget? AIP-245 says:

This AIP serves as an initial framework to establish this Working Group. The three elected Stewards will propose an initial budget 1-3 weeks after being onboarded.”

I have no clue what that budget would entail, besides the monthly salaries of the stewards, but shouldn’t some type of budget be allocated here under AA so as to speed things up and avoid the time wasted by - yet another - AIP?

What’s the purpose of this? What is it going to achieve? What problem or deficiency it is addressing?

Aside from the fact that, just for an iOS or Android app, whatever it is this app is supposed to do, will not yield the expected results. If we need a mobile app, it needs to be specifically done via an AIP which has details on what’s needed, what it does etc. Putting a $45K line item in a budget - with no clear guidance - is a waste of money. And that $45K is likely to be sitting there for months on end - unspent.

Similarly, if it needs to be in here in order to save the time and effort - and risk of failing in a vote - then, I can safely say that $45K is wholly inadequate. Think bigger. $100K minimum, bigger.

  1. Why do we need this?
  2. Why is it separate?
  3. What’s the money to be spent on?
  4. Why can’t it just be an initiative within the AA framework?

I think this entire section and its $118K budget is a waste of money.

What’s this for and why is it needed when we already have the AA?

Also, OKR7 refers to it as “Global Community Committee”; so one of those needs to be changed to match.

  1. Why do we need this?
  2. Why is it separate?
  3. What’s the money to be spent on?
  4. Why can’t it just be an initiative within the AA framework?
8 Likes