Hey all,
Creating this thread to allow a space for questions that require or warrant clarification from AIP4/5. Written discussion is a critical part of governance set up, ideation, and being able to push up questions and amendments. Feel free to comment below.
-RV
I think a general consensus is we need a lot more clarity around exactly how the staking pools work.
Specific questions to answer would be:
Exact caps on how much ApeCoin can be staked per NFT?
For holders with multiple NFTs, can multiple be staked and how many?
It would be helpful for the author of the proposal to lay out examples of staking rewards in various scenarios. Even better would be a calculator web tool to simulate rewards given various scenarios.
These are important to have clarity on because these decisions can alter floor prices, incentives and long term power dynamics.
I also think it would be helpful if the author wrote about what their reasoning was for making certain decisions while considering counterpoints.
Involve us in the decision making and drafting process, don’t just spring it on us out of nowhere without full details and ask us to vote.
We love BAYC, MAYC, and BAKC. But there is something important being constantly forgotten:
Apecoin DAO isn’t Yugalabs, nor is it run by Yugalabs and Yugalabs has no responsibility for Apecoin DAO as they stated.
We need educated people about that first to move forward.
Furthermore,
The notion of giving staking opportunities to BAYC, MAYC, and KAYC is an unfair toll on Apecoin DAO.
The %15 airdrop was a fair headstart but Apecoin DAO shouldn’t be subjected to carrying BAYC, MAYC, and KAYC holders through its entire existence.
It is now a decentralized entity that is gifted to the community to run, it can & should rhyme with Yugalabs values and incentives although it shouldn’t constantly supplement it.
Disclaimer: I only hold $APECOIN, so there is a little bit of principal-agent problem there.
So, I would love to hear the opinions of BAYC and MAYC holders.
The staking proposal should benefit BAYC OG’s as well as it should benefit people new to the ecosystem that hold nothing other than Apecoins. There is certainly something in the middle between having BAYC whales enjoy all the perks and stripping them away of perks completely. I’m proposing something similar to the following:
Staking multiple BAYC NFTs grants a multiplier UP TO a certain amount. (Example: 1X multiplier for every BAYC owned up to 3. An owner of 10 BAYCs would have three 3X pools and one additional)
Staking multiple MAYC NFTs grants a multiplier up to 5X. This would create buy pressure on MAYCs.
Staking multiple BAKC NFTs grants a multiplier up to 8X. This would create buy pressure on BAKCs as well. An owner of 10BAKCs would receive an 8X multiplier with two additional left over earning on a normal rate.
Staking Apecoin can gain multipliers up to 10X. It would just be a matter of determining how many APECoins would be needed to reach each multiplier level (i.e. should 200 apecoins be 2X or 2,000Apecoins be 2X?)
Following a tiered multiplier framework like this incentivizes every level of holder: BAYC, MAYC, BAKC, AND Apeholders in a fair fashion. BAYC holders should NOT be penalized for being early adopters, but we all know if you have several BAYCs you’re already “up” financially. Likewise BAKC holders get a bit of trolling and friendly mockery, but deploying a scheme that gives them increased APE multiplier incentives creates desirability for an otherwise “less than” NFT. Apecoiners that lack any of the NFTs will be granted the opportunity for the maximum multiplier should their ape coin holdings allow it.
I think we should start with this above mechanism as a base/general framework, and adjust numbers/percentages from there.
It should definitely benefit both NFT and ApeCoin holders (with no limit). As a business they will lose out on a lot of money and it will end up holding back the company from progressing forward if it only benefits NFT holders.
AIP-6 Staking for the Community
Please feel free to edit/contribute: AIP-6 Staking for the Community - Google Docs
Good idea, we need to find a balance so we don’t over-benefit some and leave others aside.
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