AIP-427: Omniichain Funding for Ecosystem Expansion Around $APE

Hi ApeCoin DAO Community,

@Xavierfreeway has responded to our questions and they are in our review once again.

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

Kind Regards,

-@Facilitators

Hi ApeCoin DAO Community,

@Xavierfreeway has responded to our follow-up questions and has provided consent to share them in this forum for the community.

1. Thank you for providing a more detailed description of your professional background. Please provide a more thorough description of your other team members, including any relevant professional, academic history or other helpful contact information.

Currently, the proposal includes only one team member, Posco. If additional team members are added in the future, their relevant professional and academic histories, along with contact information, will be provided.

2. Please provide more details regarding the committee’s selection criteria for grant recipients, including eligibility requirements, selection process, and any other pertinent details.

Eligibility Requirements: Applicants must demonstrate a clear understanding of Omniichain technologies and have a solid plan for utilizing ApeCoin within their projects.

Selection Process: The selection process will involve an initial application review, followed by interviews with shortlisted candidates. The final selection will be made by the committee based on the project’s potential impact, feasibility, and alignment with the ApeCoin ecosystem’s goals.

Additional Details: Projects will be evaluated on innovation, scalability, and their ability to enhance the utility of $APE.

3. In your most recent interview, you stated that “The community will have governance rights through regular updates and the ability to vote on major decisions regarding the fund’s usage.” Please provide details regarding this community vote, including the voting process, any associated platforms, and how the community would be notified.

Voting Process: Major decisions regarding fund usage will be put to a community vote using Snapshot, a decentralized voting platform.

Associated Platforms: Snapshot will be the primary platform for community votes. Regular updates and proposals will be communicated through the official ApeCoin DAO forums and social media channels.

Notification: Community members will be notified of upcoming votes via announcements on the ApeCoin DAO forums, Twitter, and other official communication channels.

4. “Funding & Development Phase: Allocate funds to chosen projects and monitor development progress (Months 4-12). $2 million allocated, developers and builders using Omniichain products”. Please elaborate on the expectations for the funds activities. I.E. Once it is established, what is the expected term for the fund? What are the target check sizes for accepted projects? What is the anticipated investment period?**

Term for the Fund: The fund will operate for an initial term of one year, with the possibility of extension based on performance and community feedback.

Target Check Sizes: The fund aims to allocate grants typically ranging from $50,000 to $250,000 per project, depending on the scope and potential impact.

Anticipated Investment Period: The investment period is expected to span 12 months, during which selected projects will receive funding and development support.

5. Do you provide consent to apply updates to the relevant areas of your proposal based on your responses to the questions above?

Yes, I provide consent to apply updates to the relevant areas of my proposal based on my responses to the questions above.

6. Do you provide consent to share these questions and answers with the community in this forum?

Yes, I provide consent to share these questions and answers with the community in this forum.

Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent. You can click the Pencil icon at the top of the post to see these edits.

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

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,

-@Facilitators

Hi ApeCoin DAO Community,

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

1. Steps to Implement point #1 reads: “Formation of the Omniichain Fund Committee: Select a diverse group of community members and experts to oversee the fund (Month 1). This committee would be selected by the five core Omniichain team members (Alex, Jordan, Sam, Posco).”
Given your recent update naming you as the only team member, would you now be solely responsible for the selection of the proposed Omniichain Fund Committee?

Yes, given the recent update naming me as the only team member, I would now be solely responsible for the selection of the proposed Omniichain Fund Committee. I will ensure a diverse group of community members and experts are chosen to oversee the fund.

2. You’ve responded that “Snapshot will be the primary platform for community votes.” Will the fund be creating its own Snapshot page, or do you intend to leverage an existing Snapshot account?

The fund will leverage an existing Snapshot account for community votes rather than creating its own Snapshot page. This will help streamline the voting process and maintain consistency with the current governance structure.

3. Acknowledging you’ve received a similar prior request, upon further discussion with the administration please provide proof of funds, or alternatively, your proposal will be Rejected for violating the community guidelines.

As previously mentioned, this initiative is personally funded and I do not feel the need to provide proof of funds. I understand this requirement and respectfully acknowledge that this stance may lead to the proposal being rejected for violating community guidelines.

4. Do you provide consent to apply updates to the relevant areas of your proposal based on your responses to the questions above?

Yes, I provide consent to apply updates to the relevant areas of my proposal based on my responses to the questions above.

5. Do you provide consent to share these questions and answers with the community in this forum?

Yes, I provide consent to share these questions and answers with the community in this forum.

Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent. You can click the Pencil icon at the top of the post to see these edits.

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