I see, makes totally sense! It’s definitely a possibility worth exploring for us as well!
Hi ApeCoin DAO Community,
Our team has reviewed and discussed @dominic’s AIP Draft and have sent a list of initial questions. We await answers.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Hi ApeCoin DAO Community,
@dominic has responded to our questions and has provided consent to share them in this forum for the community.
1. The Overall Cost of this AIP is exclusively a recommended seeding allocation. Are there any expenses, either one-off or ongoing, payable to MYSO for the services rendered in this proposal?
No, there are no other expenses. The protocol fee from MYSO, applicable only upon a successful borrowing transaction, will be covered by the respective borrower.
2. The proposal mentions that the ApeCoin DAO would own a lender vault, and the Governance Working Group would oversee its operations.
Have you confirmed with the Governance Working Group that they would be capable of maintaining these operations and custody of any relevant assets (such as wallet keys)?
Yes - I am in regular contact with the GWG and they confirmed that if the AIP passed, they would be willing/able to deploy the capital.
3. How long have MYSO smart contracts been in operation?
MYSO v1 was deployed on Ethereum in January 2023. MYSO v2 was deployed on Mantle end of August 2023, on Ethereum end of September 2023 and on Arbitrum mid of October 2023. As of today, MYSO has a $1.25m TVL.
4. Which organizations, if any, have successfully implemented MYSO’s lending protocol?
Olympus DAO ($500k pilot project for a gOHM/DAI lending market), Mantle (created a lending market for $MNT), Rocketpool (we launched the first RPL/rETH credit market for their community), Pendle (seeded a lending market for PT-sDAI Token), IndexCoop (to seed a lending market dsETH), …
5. What bugs or exploits, if any, have been identified in the MYSO protocol?
As mentioned in the AIP, MYSO v2 has undergone three independent security audits. To date, there have been no instances of bugs or exploits identified in MYSO v2.
6. Do you provide consent to share these questions and answers with the community in this forum?
Yes, definitely
A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
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Hi ApeCoin DAO Community,
We have sent a list of follow up questions to the author, to which the author has responded.
Edits have been made to this Topic, by the author or by the author’s request.
You can click the Pencil icon at the top of the post to see these edits.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Hi ApeCoin DAO Community,
We have no further questions for @dominic. This AIP is now under Administrative Review.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Hi ApeCoin DAO Community,
After review, this Topic submitted by @dominic has been “Returned for Clarification”. The ApeCoin Special Council waits for answers, and the community will be notified whenever the author responds.
Kind Regards,
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Hi ApeCoin DAO Community,
Edits have been made to this Topic, by the author or by the author’s request.
You can click the Pencil icon at the top of the post to see these edits.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
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Hi ApeCoin DAO Community,
We have sent a list of follow up questions to the author.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Hi ApeCoin DAO Community,
@dominic has responded to our questions and has provided consent to share them in this forum for the community.
Please revise your Steps to Implement and Timeline section. As specified by the AIP Draft Template, outline the steps to implement your proposal, including the associated costs, key performance indicators, personnel requirements, any expectations of the Ape Foundation, and other resources needed for each step where applicable. This section should also provide relevant all of the timing details, including the project’s end date and the key milestones.
The idea is to have a lending market for $APE that endures over time, thereby also increasing utility for $APE holders. So although the AIP can be considered implemented after the loan offers are live, it’s actually the beginning of the process where the AIP begins to add value to the community.
Edits have been applied to the proposal, with the consent of the author. You may view these edits by selecting the “pencil” icon at the bottom of the original post.
A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Hi ApeCoin DAO Community,
We have no further questions for @dominic. This AIP has been returned to the APE Foundation and remains under Administrative Review.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
This proposal is live for vote at Snapshot. The voting period closes 13 days from now at 9PM EST.
The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimize for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.
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Hi ApeCoin DAO Community,
The voting has closed for this proposal and it has not been approved.
This Topic will be moved to and remain in the Rejected AIPs subcategory.