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

[thrivegiraffe]

Hi Matt, thanks for the comment, and for your contributions to our DAO. I’m glad Thank APE has been able to reward some of your contributions. I’ll do my best to respond:

While I am honored that you are comparing us to the Red Cross and United Way, Thank APE (and Thrive) are not a hundred year old national or multi-national charity giving away hundreds of millions or billions of dollars. This is not a comparison we feel comfortable with, and not one we’d try to make.

Thank APE is seeking to drive utility, efficiency, and value for ApeCoin DAO. ApeCoin DAO as a whole has allocated / earmarked ~$34.1M to a AIPs. Thank APE has funded 5.3x more projects than the DAO - all in the last 8 months with, we think ~ 2% of that amount.

Additionally, Thank APE has rewarded thousands of people (including you) for value they created for ApeCoin - most of whom had no place in ApeCoin DAO before. Additionally, we’ve funded 234 significant projects at the moment of value creation - as opposed the traditional AIP process, which funds projects after an AIP passes and a legal agreement is signed.

We are able to drive the kinds of results we’ve driven because we understand the same thing every business or protocol or community that has created enormous value understands: it costs money to create value… and underpaying people or not paying people doesn’t drive innovation or value; at best it paralyzes innovation and at worst it destroys communities.

We didn’t sell a single ApeCoin that we earned for our work in the past year. Instead we invested a few million dollars of our own money into technology and support to serve ApeCoin because we believe in the work we’re doing together - and we believe in the long-term, it’ll work out for all of us.

A typical quest protocol fee is 20% (see quest protocol: it’s 20%). With Thank APE, our community is getting a much more robust protocol that validates complex contributions, a growing set of apps to support it, custom development to support unique integrations, a dedicated team of support people to ensure ongoing value creation, and a board of top ApeCoin community members devoted to maximizing value for our DAO.

It may look easy to do what we’re doing, but it’s not easy. It takes money, people, time, and love. Thank APE believes ApeCoin members deserve to be fairly rewarded for the value they create. We are making that happen for our community. We deserve to be fairly rewarded too.

What we are asking will almost surely not cover the investment we make into this community, but knowing the community values us and the work we’re doing is enough. We thank you for your partnership. We have your backs. We intend to, together, make this a very special year for ApeCoin.

[thrivegiraffe]

HI Matt, thank you too for the thoughtful reply. I appreciate this connection. I’ll reply to the few remaining open pieces.

@chimperton

while perhaps for now, 20% is a hard requirement given the current maturity and development costs for ThankApe, I’d like to understand the roadmap to drive that down to 10% or below.

Fair. Yes, this roadmap exists. At more scale, even now, relative percentage decreases. As an example, we are in discussions around a follow-on proposal for our continued work with Arbitrum. They may likely choose a deployment size that is much larger than this one, and the relative percentage service fee could come much closer to your target zone. In the future, we want to get there.

I care about the impact of the efforts. How have those efforts pushed $APE forward?

Yes, we agree. We plan to clarify desired impact in the Sense Phase of Season 5: We plan to incentivize ApeCoin contributors to share in depth feedback around needs, capabilities, and optimal impact through engagement surveys and a series of follow up workshops / conversations. We’ll then temp check the DAO with our findings and align around optimal impact metrics. Coming soon!

@chimperton

I think that thus far the ApeCoin DAO is an abject failure in terms of the actual impact of its investments. I’d also say ThankApe is one of its greatest successes in terms of an investment that has actually realized into something substantial.

We agree with your assessment of the state of many ApeCoin investments - and we appreciate your kind words about us; it means a lot. We know we are in a unique trusted role to help facilitate creating value now, in a way that drives decentralization, supports scale, and honors our community. We hope to be able to continue to help in a big way.

Again, Matt, thanks for your comments and thoughts. Super helpful and lots of alignment. - Daniel

[thrivegiraffe]

@Amplify

I would love to see this pass!! =)

Thank you, @Amplify. And thank you for your incredible service to our community!

@Amplify

Thank Ape has been one of the handful of AIP’s that has had a lasting impact on the ApeCoin DAO and it’s token holders. Ever since Thank Ape introduced themselves to our DAO, they have been thoughtful and accountable in brainstorming unique and creative ways to involve and reward the community. I’m excited to see what they can do in 2024!

I believe very much in the impact we will all create together in 2024!

[bigbull]

@thrivegiraffe

Thank APE is seeking to drive utility, efficiency, and value for ApeCoin DAO. ApeCoin DAO as a whole has allocated / earmarked ~$34.1M to a AIPs. Thank APE has funded 5.3x more projects than the DAO - all in the last 8 months with, we think ~ 2% of that amount.

The amount asked to distribute via Thank Ape Phase II is approx. 10% of the 34.1M correct?

[thrivegiraffe]

Hi @bigbull. Thank you for your incredible contributions to our DAO!

@bigbull

The amount asked to distribute via Thank Ape Phase II is approx. 10% of the 34.1M correct?

Yes, that’s accurate (also, shout out to @Vulkan, who put together the approximate DAO numbers).

One clarification: the purpose of Thank APE isn’t just to “distribute”. It’s to sense into the needs of our ApeCoin community, to fund building projects in alignment with those needs, and to incentivize people to use and experience the projects that have been built.

We’ve been effective and efficient at “distributing” funds specifically because we are highly targeting DAO needs (rather than whatever can make it through an AIP vote) and simultaneously supporting broader decentralization of contributions. Additionally we optimize for speed and learning.

Additionally, I believe we are an important “r&d partner” to the AIP governance process. We can move fast, experiment, acquire data, and decentralize ApeCoin’s contributor pool in ways that make it possible for voters to have a better sense of our needs, what’s working, and how we should grow.

[Rubinato]

ThankApe is a living example of AIP that revolutionized the way of seeing and interacting with the DAO here, that’s my opinion.
It has already been proven by numbers that ThankApe has been very effective in what it set out to deliver.
@thrivegiraffe success my friend !!

[ItayuanaNunes]

We are winning, this second phase I believe will be very special

[12GAUGE.Admin]

Hi ApeCoin DAO Community,

The voting period has closed for this proposal and it has been accepted with a 88.86% pass rate. The proposal will be passed on for implementation.

Follow this proposal under the AIP Transparency and Execution Category. A new post has been created here, Implementation Update | AIP-379: Thank APE - Phase II: Amplifying a Movement, and further updates will be posted.

Thanks,

-@Facilitators