ApeCoin DAO Governed GameFi Smart Contract Wallet
Ecosystem Fund Allocation
This AIP aims to build Apecoin DAO smart contract Wallets for GameFi NFts and establish a Lend assets & rewarding vault for the Game community.
Apecoin DAO Wallets wanted to implement active user engagement in a Game community by enabling GameFi Segment with the DAO and smart contract Wallets. With the rise of NFT-based P2E games, it’s crucial to build a community-driven ecosystem for NFT assets management in order to effectively rotate the assets among the active community members to Maximize the NFT DEFI potential.
DAO wallets are structured to exclusively enable active wallets to retain assets for continued participation in the game. On inactivity, The DAO will conduct votes on idle assets to withdraw them from the member wallet into the assets vault, reallocating them to other members. This approach increases NFT scarcity and price in the market which will eventually attract more buyers and investment in the DAO-driven community. Furthermore, the DAO will offer incentives to participating voters, creating a constructive cycle of engagement.
All the DAO processes will run on a predefined set of rules to streamline community governance. Seamless management of NFT assets through the DAO platform sustains the blockchain-based games ecosystem.
Luca Lamberti - CEO of 99Starz
A former sales and racing executive in the automotive and motorcycle racing industry, financial and change management advisor. Active for years, he’s a well-connected investor and advisor of several prominent crypto – blockchain projects as well as trading pro and manager of large NFT portfolios. A strong believer of NFTs and Metaverse mission.
We have assembled a world-class team with deep expertise in blockchain, gaming, enterprise software, data science and other industries.
Some relevant team members:
Yat Siu - Co-Founder and Strategy Advisor
Animoca Brands co- founder and Executive Chairman
Tony G - Co-Founder
World-famous poker player, a former Member of European Parliament and CEO of Cypherpunk Holdings. As a serial digital entrepreneur, venture capitalist, and philanthropist, Tony is committed to promoting a better climate for digital technologies that are set to dominate our future – artificial intelligence, gaming, and blockchain.
Omer Khan - CTO
A Silicon Valley-based CTO for 3 startups, has over 15 years of experience in contact center engineering, AI, and Blockchain, also a former Director of Engineering for a Washington DC-based $2 billion AI unicorn. He has also consulted for Fortune 100 companies, including Apple, Barclays, and AT&T, as well as two very successful blockchain companies.
Has also been through Google and Microsoft’s acceleration in London and San Francisco. He is frequently quoted in Forbes, Entrepreneur, and Thrive Global, as well as being a contributor in Bigdata-madesimple.com and AIBusiness.com. He has also been a speaker at many conferences and actively contributes to many forums in the industry.
Gediminas Klepackas - COO
Gediminas is an avid gamer and professional manager with 10 years of experience in international affiliate marketing. Of those, he spent 8 years at Pokernews, helping with the expansion of franchise partnerships and managing the Lithuanian operations company.
On top of that, he has two years of experience in active sales within the fintech sector.He became immersed in crypto and blockchain in early 2018 as a COO at Blockchain Centre Vilnius. After becoming fascinated with digital assets and related technologies, he became the head of one of the most popular digital asset news sites Cryptonews.com.
Sherman - Strategy & Growth Advisor
A serial entrepreneur who is passionate about developing decentralized technologies. Lee is the co-founder of Raven Protocol, a decentralized deep-learning training platform. In addition to this, he is also a part of several other successful ventures, including Zeroth.ai, a Hong Kong-based venture capital firm.
Sherman is an angel investor who is looking for firms that are striving to build out the complete ecosystem of AI training at scale. Edge devices, cloud infrastructure, data encryption, distributed training methods, blockchain, and other technologies are being explored by his platform. At Zeroth, he previously served as one of the partners. AI is concentrating on sponsoring AI and Blockchain startups. We were bought by Animoca Brands after partnering with Softbank’s AI fund.
Keith Rumjah - Growth & NFT Specialist Advisor
He is currently the CEO of OliveX (NSX:OLX) and $DOSE token. Building a fitness metaverse on the blockchain. The future of fitness is together but alone.
Previously, he founded Coachbase, the no.1 paid sports app on iOS, Android and Mac. It was acquired by Animoca Brands (ASX: AB1). Also selected as part of the Nike+ accelerator powered by Techstars.
Participation: The APE DAO wallet aims to enhance engagement among active users within a GameFi community by integrating NFT assets with DAO and smart contract wallets.
Ownership: With the rise of NFT-based Play-to-Earn (P2E) games, it’s important to establish a community-driven ecosystem for managing NFT assets. This facilitates the active rotation of assets among engaged community members, maximizing the potential of NFT DeFi.
DeFi: The DAO wallet system focuses on allowing active participants to retain assets. In cases of inactivity, the DAO conducts votes to move idle assets from member wallets to an assets vault, reallocating them to other members. This approach enhances NFT scarcity and market prices, attracting more interest and investment in the community to get the collection listed in the Apecoin DAO vault.
DAO Structure: The DAO operates with a structured framework, enabling it to empower active wallets exclusively. Votes are conducted to withdraw assets from idle members. The predefined rules govern the entire process, facilitating streamlined community governance.
NFT Assets Potential: Within the proposed framework, NFTs will consistently remain stored within the smart contract wallet. When users engage in gameplay using these accounts, they will continuously accumulate rewards from the game.
Rewards: These accumulated rewards are subsequently slated for distribution among both DAO participants and the operator (the NFT holder). This distribution will be executed in the form of APECOIN. To effectuate this, the earned game ERC20 tokens will be subjected to a swapping process, ultimately converting them into APECOIN. This strategy ensures that participants within the DAO ecosystem, as well as the NFT operator, are rewarded proportionately and efficiently, fostering a dynamic and incentivized environment for engagement and collaboration.
The project aligns with Ape values through its integration of different gamefi NFT collections, strategic management of NFT assets to amplify Apecoin’s value, and exploration of innovative GameFi dimensions. This alignment highlights Ape’s commitment to interconnectivity within the web3 and Ape ecosystem, driving financial growth by creating scarcity-driven market dynamics for APE$ and integrated NFT collection giving benefits to NFT collection along side ApeCoin, Exploring new areas like NFT-based P2E games. These efforts collectively embody the essence of interoperability, DEFI vibrancy.
BENEFIT TO APECOIN ECOSYSTEM
Add more value to the ApeDAO (and subDAOs) by adding the lending and gaming structure features
Bring in the ApeDAO a new fair business model
Increase the organic participation in the ApeDAO and subDAOs
Bring in new members to the ape community and effectively grow the community
Enable a safe and fair lending system to “put at work” all NFTs, thus increasing their use cases, value and market dynamics
Attract more players to the Ape-related games through the ApeDAOs and large investors and guilds
Make the ApeCoin ecosystem in general more guild friendly; large investors and guilds would feel more motivated on investing in Ape-related NFTs and projects and bringing their network into the action
DAO Contracts - Access Control: Smart contract responsible for managing access permissions and roles within the DAO system, enabling controlled access to the Assets Vault for authorized users.Managing Voting Qorum for State changes.
Assets Vault: A secure assets interface holder smart contract dedicated to storing and managing NFTs and asset tokens. Accessed through the Access Control contract, it allows the DAO to efficiently allocate, redistribute, and conduct asset-related operations based on community governance.
DEX Injection: This integration with the DAO contract serves the purpose of facilitating the exchange process for earned coins, converting them into APECOIN within the ecosystem. As users accumulate rewards through gameplay, these earned coins will undergo a swapping mechanism orchestrated by the DEX contracts. This process will enable the seamless conversion of the game’s native ERC20 tokens into APECOIN, the designated utility token.
Wallet Contracts: Smart contracts that serve as an interface between user wallets and the DAO ecosystem, facilitating interactions such as voting, participation, and asset Holding for Gamefi interaction.
Injected Provider Compatibility: Integration of web3.js or similar injected providers to ensure seamless compatibility between Wallet Contracts and the DAO platform, enabling users to engage with Games.
Creating DAO (Decentralized Autonomous Organization) contracts using Solidity that allow for decentralized decision-making within a community. These contracts enable voting, proposal creation, and fund allocation based on community consensus. DAOs can enhance governance and engagement within decentralized systems.
Integrating UNISWAP V2 routers With DAO. This integration would enable DAO to seamlessly swap tokens for Rewards earned from the utilizing collection NFTs.
Wallet smart contracts refers to creating programmable wallets with added functionalities. Asset holder interfaces involve functionalities for users to interact with their assets through the smart contract. This could include actions like transferring, swapping, or interacting with DAO protocols directly from the wallet.
Integrating GameFi wallet provider implies incorporating smart contract wallets that cater to the needs of the GameFi ecosystem. These wallets have features specific to Utilizing NFTs , generating signatures and voting in DAO for managing in-game assets, NFTs, or tokens associated with specific games.
STEPS TO IMPLEMENT
- Vote approved & funds released, development begins by an internal dedicated team
- DAO UX/UI Design
- Wallet UX/UI Design
- Apecoin ecosystem games integration (5 x games as initial step)
- Tokenomics and reward Distribution Design and Technical Architecture
- DAO Smart Contract development and testing
- Wallet Smart Contract development and testing
- Wallet provider development and testing
- Wallet frontend development & Integration
- DAO frontend development & Integration
- Internal Platform Testing
- Smart Contract/Platform Internal Audit
- Smart Contract 3rd Party Audit
6 months to complete development and test system(s)
350k APE ($520k)
5-7 x games integration : 180k
ApeDAO Custom features : 150k
Enhanced security : 100k
Maintenance, support, HW, SW, servers: 40k
NB: the above are average estimated costs, pretty hard to predict exact development working hours and difficulty on integrating the games. The development will be incremental and we prepare the ground for the integration of all future Ape ecosystem games/apps.