AIP-379: Thank APE - Phase II: Amplifying a Movement

Hi ApeCoin DAO Community,

Our team has reviewed and discussed @thrivegiraffe '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,

-@Facilitators

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Too excited to see this second phase, let’s keep building, 2024 will be our best year :apekin10:

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Thank APE is just a mega cool project! I wish you growth and comprehensive development in the coming year! The community loves you!

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Let’s go with everything, with much more improvement and opportunities!

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Worthy projects deserve the trust of users and simply must become leaders in their field.

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Hi ApeCoin DAO Community,

@thrivegiraffe has responded to our questions and has provided consent to share them in this forum for the community.

1. Is the Ape Foundation expected to engage in any of the steps of the AIP implementation? If so, please specify the steps and elaborate on how it is expected to work.
No expectations from ApeCoin Foundation.

2. You have requested 4.2 million ApeCoin based on “100% performance”. Please outline your performance metrics and payment structure requested from the Foundation.
For ease of deployment, we are happy to use the same structure preferred and approved by the ApeCoin foundation a year ago: a) Community funds will be sent to a community-managed multi-sig wallet. b) The community multi-sig will disburse funds to value-creating contributors in-line with their contributions. c) All transactions will be on-chain. d) One Thank APE board member will be on the community wallet for communication continuity (@Feld, founder of Boring Security); f) Service fees will be sent to a ThriveCoin multi-sig.

100% performance: Community rewards are paid out from the community multi-sig only upon the completion of valuable contributions. In other words, performance must happen for community funds to be paid out. On the ThriveCoin side, we must administer the entire initiative and provide the technology and support outlined in the proposal.

This is the same structure approved by the foundation for Thank APE: Phase I.

3. How will the success of the proposed initiatives be measured and evaluated?
Metrics to measure and evaluate success:

  • Community alignment that we are funding the most important needs, capabilities, and opportunities in our DAO (via ongoing feedback and surveys).
  • Continued expansion of pool of top talent and teams creating value for ApeCoin in ways that are aligned with the most significant stated needs of our community (as measured by # of people and projects + milestone achievement specific to the projects).
  • Continued expansion of number and quality of community contributions to important “paths” in our ecosystem, including supporting building, governance, local communities, a future ApeChain - if passed, and more (measured by # contributions and impact metrics associated with the contribution type - e.g. governance contributions should result in improvement in governance participation).

4. Would your expectation be to keep complete full ownership of content produced from this proposal?
Our expectation, as with Phase I, is to own all of our own content, technology, and IP. Additionally, our expectation, as with Phase I, is that all community created content, tech, and IP is owed by the creators themselves unless they are using or licensing content or IP owned by the ApeCoin Foundation or any other entity.

5. You have outlined a process where final reward allocations may be influenced by community members, how would you facilitate these discussions/decisions?
We constantly experiment with different modalities that can drive greater efficiency, value, and utility to ApeCoin. Core to all of it is community feedback - via Twitter, Prop.house, Discourse, Discord, and other platforms. Feedback might include voting, retweets, likes, comments, engagement surveys, conversations, or other.

6. a. Will there be any additional smart contracts or Web3 connectivity following the execution of Phase 1?
We do plan on additional smart contracts and web3 connectivity - based on the needs of the community and the innovations we’ve promised to deliver to the community.

b. if so, will there be a security audit plan in place, and will you share the audit report with the ApeCoin DAO?
If any new smart contracts are created, we can conduct an audit and share the reports before deploying with ApeCoin.

7. Do you provide consent to share these questions with the community in this forum?
Yes

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,

-@Facilitators

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Hi ApeCoin DAO Community,

Edits have been made to this Topic, by the author or 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,

-@Facilitators

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Hi ApeCoin DAO Community,

We have no further questions for @thrivegiraffe . This AIP is now under Administrative Review.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

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True, it is bringing a lot of value to the community, a very innovative and efficient idea :two_hearts: :heart_eyes:

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Hi ApeCoin DAO Community,

Edits have been made to this Topic 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,

-@Facilitators

1 Like

a very cool project! The best thing I’ve seen in web3. We definitely need to keep going, you guys are very cool.

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Hey G.

Congrats on creating so much goodwill within the community. I imagine this passes with very little pushback.

The only place where I struggle with this is why are we not insisting that the DAO has some equity in the company?

We sent back AIP-341 Bored Brewing and AIP-364 The Battle of Goblin Town because we as a community insisted that the DAO have equity or RevShare in their businesses, And when they did this and returned with this equity request, we rejected them anyways!

As a reminder, they asked for $175,000 and $2m respectively.

It seems to me that if we’re spending over $1m in operational expenses to run this $4m incentive program, shouldn’t we at least make the request to be on the Cap Table?

Have you or Halina, who are respected ApeCoin DAO members, requested this and wouldn’t this be smart fiduciary responsibility to do so?

Anyway, look forward to your response. In the meantime I’ll go back to washing dishes :rofl:.

Cheers – SSP

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Our Thank APE Phase II proposal is about to go live, and we are feeling… thankful. We have deep gratitude for this community. Thank you for your partnership, and thank you for your kind words. We hope this is very much just the beginning. We will create an enormous amount of value together as an ApeCoin community in 2024.

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This proposal is live for Snapshot 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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Thanks SSP, I genuinely do love this question! Generally, I wouldn’t think that approach is appropriate for most/if not all VC-backed companies especially one that has already invested millions in developing its software/protocol such ThriveCoin. Furthermore, it’s a service fee for implementation of a “client” (the DAO) program, which is quite different from AIP-375 (very early stage non-tech start-up) and AIP-364 (revenue share proposition).

HOWEVER, you know for me personally that I’m always cooking that long-term planning…I tells ya my friend SSP, “Kenny G” and the team are in the kitchen COOKING but I cannot disclose at the moment exactly what that means (tbh I tried but I got overruled :sweat_smile:). I’ll just say this…it’s not lost on the ThriveCoin and Thank APE team how incredible the relationship is with the ApeCoin community! This is going to be a big year and delivering success of this Thank APE Phase II program to the ApeCoin DAO/APE Foundation will extend far beyond what’s presently written in this AIP :slightly_smiling_face:

Don’t just trust me, trust Kenny G

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Appreciate the reply G.

Two items to highlight and then we’ll move on:

1 - A $1m Service Fee brings the costs for running the DAO to about $3m a year (really rough maths, have not had my morning cuppa). The SC costs were trimmed by community vote, and with this service fee add-on I question whether we’re heading in the right direction as far as expenses?

Q - Is the ApeCoin DAO that busy and are we really doing that much on a daily/weekly/monthly basis to justify spending $3m a year in operational expenses?

2 - Decentralization and entrenchment. Look, we know that there’s a tension between progressing towards decentralization and just getting things done – and at this point, who knows the best path to take. I was, and still am, concerned that we as a DAO award too much power to the Special Council (hence my single issue of returning the SC back to being the Board) and the way I read your answer, is that ThankApe/ThriveCoin will become entrenched and just become part of the infrastructure of the DAO. Not the way I would prefer the DAO to operate.

At least with SC, Stewards (not Facilitators) and I’m presuming Administrators, the DAO has a say and an opportunity to be a Service Provider via elections, yet what I’m reading here is that by passing this AIP, no other incentivisation entity will have that opportunity.

I am hopeful that this is not what was intended.


Anyway, thanks for the positive yet guarded reply. Back to IRL work in the kitchen.

SSP :call_me_hand:t4:


Ugh, that photo – the kitchen’s nice tho :rofl:

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Ultimately, we know nothing is guaranteed around the DAO and the ApeCoin community decides if offerings are worth an ongoing relationship. Therefore, Thank APE (if this passes) will be judged on the success of its implementation. Is it a large program? Yes, but we are confident at opportunity to showcase what we can do together with the community to deliver it with much success. And of course we are planning for long-term success because if that is not our intention then we shouldn’t be putting up this kind of AIP.

I always encourage the entire ApeCoin community to put up an AIP that they feel is best for the DAO that they can execute, and this is what we have done with Thank APE Phase II. No AIP is going to tick all the boxes for every member at the start, but Thank APE is uniquely flexible and can collaborate with all community members throughout it’s implementation. We’ll continue to encourage giving feedback throughout the program.

At the end of the day, it is up to the DAO to decide if Thank APE Phase II is a shot it wishes to take. Everyone ApeCoin member is free to propose their vision for how to push ApeCoin DAO forward and fortunately we, as a DAO, have multiple bullets available (i.e. treasury) for the community to fund numerous ideas.

There’s a misunderstanding here - this is not the effect of passing the Thank APE Phase II AIP. There are no exclusivity rights being asked to limit any other potential AIPs; ApeCoin DAO is free to propose and pass any other incentivization mechanisms it would like. For example there is the AIP-387 On-Chain grants AIP in the pipeline.

I always appreciate you SSP and I hope we can work together on bringing some of your ideas to (funded) life via Thank APE.

-G

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We’re so excited to welcome @Hazel and @dyorjdr as our newest Thank APE board members. We’ve shared this special news on various Spaces, and we want to honor these two extraordinary people here.

Hazel is a cofounder of Chinese Ape Club and the BAKC Group, has created numerous special events for our community, and she was recently elected to the ApeCoin Special Counsel.

DrJDR is leader of the French Ape Delegation, has devoted countless hours to making ApeCoin accessible to local communities, and has been a top contributor to every Thank APE Season.

Hazel and DrJDR make our rockstar Thank APE Board even better - as we seek to serve and lift up Apes all around the world. Thank you for joining our board, and for your service to our community!

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This is the way. And speaking from our perspective, we can’t wait to continue brainstorming meaningful ways for ThankAPE and the GWG to collaborate.

We also aim to tap into Thrive/ThankAPEs expertise with these types of programs to speed up our learning curve and increase the community’s ability to succeed utilizing our initiative.

Thrilled to see the approach here to make sure that the DAO is putting the right people in place who can listen to, and help represent, our global constituents to help us better align with the community’s needs—as a whole.

Keep doing what you’re doing team, full support from the Governance Working Group.

AC

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ThankApe has done a great job since its integration. On a personal level, I have contributed and contributed a lot since its launch. I am very honored to be part now of the Thank Ape « thinking » team. The next phase, which is focused around local communities, is a new turning point… As a member of one of the most active communities,

French Ape Yacht Club, which was also one of the first delegations to put themselves forward within ApeCoin DAO to instill this dynamic in other communities, I am particularly sensitive to this new phase.

I will be happy and honored to be able to contribute through future actions, ideas, to be integrated within ThankApe.

Thanks ThankApe

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