Hi ApeCoin DAO Community,
@AllCityBAYC has responded to our questions and has provided consent to share them in this forum for the community.
1. If the Ape Foundation is expected to engage in any of the steps of the AIP implementation, please specify the steps and elaborate on how it is expected to work.
- Outside of grant distribution to the Governance Working Group, the APE Foundation will not be required to engage.
2. Would there be any penalty for failing to meet the self-imposed deadlines from OKRs #1-6?
- We have contracts being finalized with a third-party service provider we’re working with on OKR2, which, if not achieved, could affect our ability to ratify their second (and final) payment. Failing to reach these results could also affect community sentiment toward the program, which could become problematic as the program will go through a second round of DAO-wide voting at the six-month mark to finish its anticipated twelve-month duration. Keeping all this in mind, we have confidence in the groups we choose to work with and look forward to positive results.
3. Your OKR #5 mentions onboarding “non-traditional communities,” please explain the term “non-traditional communities.”
- We classify non-traditional communities as groups holding NFT collections or tokens that are not normally associated with or participating in the ApeCoin ecosystem.
4. a) The proposal mentions support via the delegation accelerator initiative for a minimum of 3-5 communities; how would the decision be made regarding which portion of the funds would be locked and delegated versus distributed back into the ecosystem via grants and reward programs? Has this decision already been made?
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Yes. We have put quite a bit of thought into these elements, and the two programs can be broken down as follows, based on an average projection of: 1 APE = $2.00 USD. Please note that the amount of funding we plan to allocate for this initiative has been adjusted since our proposal was originally posted.
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GWG x UMA On-Chain Small Grants Program ($300,000.00 USD) monthly breakdown:
1 x 5000 APE (cross-community grant program) = $10,000.00 USD
1 x 7000 APE (developer funding) = $14,000.00 USD
2 x 3000 APE (service providers and IP propagation) = $12,000.00 USD
2 x 2500 APE (IRL and other) = $10,000 USD
2 x 1000 APE (other) = $4000.00 USD
Total: $50,000.00 USD x 6 months = $300,000.00 USD
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GWG Delegate Accelerator ($200,000.00 USD). Votes will cycle communities every two months:
1 x 50,000 APE
1 x 25,000 APE
2 x 10,000 APE
1 x 5000 APE
4. b) Can you provide more details about the process for locking and delegating the $728,000.00 allocated for governance tokens?
- This is inaccurate. The proposal stated, “Of these funds, $728,000.00 will be either locked and delegated to the community as governance tokens or distributed back into the ecosystem via small grants and reward programs,” signalling the total amount of funds combined between the on-chain small grants program, CGIP and GCC reward programs, and all APE that will be allocated for delegate voting.
- Keeping this in mind, this amount has since changed to $668,000.00
4. c) Could you clarify how the funds allocated for governance tokens would be managed and safeguarded to ensure their integrity?
- These tokens will be locked into a GWG-controlled multi-sig Gnosis Safe
4. d) What criteria would be used to determine the allocation of funds for small grants and reward programs within the ecosystem?
- Anything cross-community related, whether delegate or small grants programs, will be selected by the GWG based on criteria that will help find the communities who are most likely to stay with ApeCoin DAO after their program duration concludes.
- In-house small grant programs will start small to build awareness before providing access to larger-sized small grants when community voting participation may not have reached appropriate levels. Until then, centralized elements may be incorporated into the selection processes, but transparency will remain paramount and similar to our CGIP reward program, the rationale will be provided to all applicants.
- We will make an official hire public in the coming days, who will be added to our Twitter account as a full-time content creator. This individual will also collaborate with another content creator we have contracted to produce weekly video updates. We are optimistic about the increase in reach that our messaging will achieve and, in turn, the awareness of our programs and initiatives.
- Also, we are making at least one casual labour-hire to work up to ten hours per week, assisting in organizing, establishing, and growing the on-chain small grants and delegate accelerator programs. This announcement will be made quite soon as well.
4. e) Beyond September, how frequently would the allocation and distribution of funds be reviewed and adjusted, if necessary, to ensure alignment with the objectives?
- The GWG maintains good reporting practices with quarterly and budget-end reports, which will remain our official cadence.
5. Do you provide consent to apply updates to the relevant areas of your proposal based on your responses to the questions above?
- Yes, please find attached and update — copied above these replies.
6. Do you provide consent to share these questions and answers with the community in this forum?
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