AIP-317: ApeCoin DAO Governance and Operations Budget

It was worse than that. And then it got even worse…

Sushi DAO, Key Contributor Served With SEC Subpoena

Then it was MakerDAOs turn. Shortly after the CFTC succeeded in killing Ooki DAO.

With a $174M market cap, it’s currently trading at less than $1 from it’s highs. Yup - same as $APE.

But more to your point:

"But the community pushed back against the opaque selection process and what many believed was an exorbitant pay package being offered to the prospective culinarian.

The community then voted to reduce the salary for the head chef position to a base salary of 500,000 USDC, down from a previous proposed package of $800,000 worth of stablecoins. Members began vetting candidates through a process including open dialogue between prospective candidates and the broader Sushi community."

And they were both based in Panama and Cayman Islands.

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In addition to the inevitable legal issues that are sure to come, this is us - today.

We need to set aside a monthly budget pool that goes towards a “Legal Expense” pool. If not, what happened to every single DAO that’s either dead or dying, is going to happen to us.

So, setting aside a measly $6.5K per month legal fund is incredibly short-sighted. At a minimum, this needs to be $100K per month for $1.2M per year. Then capped for 24 months so, once the fund reaches that amount some months down the road, it no longer increases. This way, the legal pool is sitting there waiting to be spent because the primary target is not going to be the DAO entity itself, the target is going to be the entire Ape Foundation because of how it has setup its structure. Everyone - and do I mean everyone in the org chart - is likely to get a subpoena once the SEC/CFTC get around to their full-blown crack down.

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Great proposal! Thank you!

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One more thing to add.

This is the Yuga Labs ($APE) IP map:

Note: That map doesn’t include HVY:MTL or Wreck League

This is the Polygon ($MATIC) IP map:

Notice the difference?

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Fantastic feedback Derek!!!

A lot to chew on here but happy to hop on another call to discuss!! Will also do my best to touch on some of these notes as the day goes on as well!!

Thanks for the post bro!!

AC

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Always happy to help. I believe that we’re on the right track here; just need some fine tuning and focus in specific areas.

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Thank you Annie!!!

Your opinion means a lot!!!

AC

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Will circle back fam!

In the meantime lets let this breathe in the thread so people can soak in the proposal vision and keep the convo rollin… Gonna reach out on Discord later this afternoon for a call. Can’t wait to chat!!!

AC

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Great proposal Amplify !!!

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After being on vacation for 8 days this is exactly what I wanted to come home to. Although it may not be perfect, it is moving in the right direction and will help get things moving which needed to happen yesterday.

Great work @AllCityBAYC @tigerisfine @Amplify and the rest of those involved.

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How well will this work? There’s really only one way to find out with immutable certainty.

I’ve seen top quality written proposals drafted in other DAOs flop miserably with a massive burn on the DAO treasury, and I’ve also seen very poorly written proposals ultimately deliver tremendously positive value to a community at very low cost at all.

We can slice, dice, dissect, debate, and run loops around this or other proposals all day long. Ultimately I ask myself on any proposal; how well do I know the proposal authors/leaders, and do I believe they’ll deliver positive value?

This leads me to having 1:1 discussions prior to forming or sharing opinions. Which is where I’m at right now with this one too.

Food for thought. Anyone who hasn’t done a DM or 1:1 with the authors, should.

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Welcome to the ApeCoinDAO Discourse forum MB!!! And congrats on your first post!!

These are great points and why we need experienced people like you chiming in on these visions so that we can fine-tune and get things to a managable state that makes sense to everyone.

BTW I’m curious about what your take on committees is? And if there might be one in particular you’d like to see that could fall under the scope of the Governance Working Group?

And thanks for the kind words @BojangleGuy!! I trust that you had an awesome 8 days away from the screen!!!

Also, for anyone who might be curious, here are the current poll results:

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I am not surprised to see R&D at the top of the polls

And the budget encompasses this:

r_and_d

That’s says a lot. Even with only 17 votes thus far.

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Thanks Derek.

Great example of the steps we can take for the DAO to continue empowering the community but with the right tools in place.

Learning is always half the battle :dizzy:

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PS haven’t gotten to your earlier post just yet because I want to give it my undivided attention before responding but confident it will have some sold perspectives…

Will circle back :muscle::muscle:

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You guys are on the right track. Just some things need to be fine-tuned here and there. Always look to long-term goals.

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Super exciting and wide-ranging proposal!! Thanks @Amplify @AllCityBAYC @tigerisfine and team for bringing this in-depth proposal to us.

The OKRs which especially pique my interest include:

  • The IP Empowerment Study
    • After all KRs are completed, should we expect another AIP before community members could use their NFTs to receive ApeCoin DAO IP grants? Which (if any) AIPs might you have you have in mind to collaborate with in brining this to life?
  • The Global Community Committee
    • For these monthly meetings of the 7-seat Committee, would the community be able to listen in or participate, or would these be closed meetings?
    • My initial instinct upon seeing the 50% turnover every 2 months is that the time members would be able to participate (~4 meetings total) may be too short to effectively guide long-term projects. Is the concept more that these Community Committee members would provide suggestions/an alternative point of view to the Governance Stewards, rather than take responsibility for any initiatives directly?
  • The Community Governance Improvement Program
    • Would this be similar to a Bounty Board program for people to submit & carry out if selected? If so, love the concept and as a Thank Ape Board & team member, would be super excited to see how Thank Ape could support and collaborate on this! Looking forward to hearing more details.

Overall, thanks for your hard work on this & looking forward to our growth and development towards the future of the DAO!

-Halina.eth :cherry_blossom:

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Hey Halina!

Please see below!!

I think that one of the best things about providing the community with strong guidelines is that people can get creative and start working backwards from there, and with the launch of platforms like Made by Apes, I’d love to explore ways that the DAO could help empower more community members to meet the requirements to be part of programs like this — but for nuances like that we need to know what may or may not be appropriate.

As far as approved AIPs go, I think being able to work @Harry and the team over at @Forj with Ape Accelerator would be a fantastic fit.

Definitely not closed, in fact we would love to have our DAO secretary be present to record minutes and provide detailed overviews for the community. The goal is to spark communication from constituents in meaningful ways that they may not have otherwise had the opportunity to do.

This could very well be true, and all the more reason why taking in valuable feedback like this from passionate community members like you is so important. That being said, the thought process was to provide a platform for groups big and small to convene and learn more about one another’s needs, find some common ground work together to make a difference.

Yes! And we would love to collaborate with ThankAPE! Always!!

Thank you Halina!!!

AC

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As usual, very clear, proud of our actual Governance Working Group Stewards and other officials.

Can’t wait to see next steps !
(Marketing is important)

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Overall the budget looks really comprehensive and it seems like it’s trying to cover a lot of different areas. I have a couple questions regarding some of them:

3. OBJECTIVE: Drive community engagement through the launch of the Community Governance Improvement Program (CGIP) by October 15th, 2023.

Are these typically things that would usually involve an AIP, but it could be fast tracked under this program? So I assume it would be things like reorganizing forum etc?

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

Key Result 3: By October 15th, schedule and conduct monthly meetings. Within this environment, aim to generate at least one actionable insight per meeting, leveraging the think-tank atmosphere.

I feel like forcing a random “insight” out of every meeting might not be practical. What about just asking them to discuss current AIPs, gathering their viewpoints on the AIPs, and also requesting information of what type of AIPs they’d like to see? So this can also automatically turn into an ideas lab for others to work off of.

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