AIP-431: Made By Apes - Powered By ApeCoin

ORIGINAL PROPOSAL:

This proposal was originally submitted in November 2023. I had let it withdraw automatically after 30 days after learning there was another team who was planning to submit a similar proposal. After reading their proposal, I believe they are extremely different, and this one should still move forward in an effort to support as many Made By Apes businesses as possible.

The original proposal can be found here:

https://forum.apecoin.com/t/made-by-apes-and-powered-by-apecoin/20299

RESUBMISSION UPDATES:

Nothing has been changed from the original proposal. I am resubmitting it exactly as it was submitted the first time. Changes can be made based on community feedback if necessary.

PROPOSAL NAME:

Made By Apes and Powered By ApeCoin

TEAM DESCRIPTION:

Fuego is an OG Bored Ape Yacht Club member since mint and one of the founding members of Magic City Apes. Also Founder and CEO of Fuego Labs, Co-Founder and CEO of Ape Spirits, and a serial entrepreneur since 2003.

ABSTRACT:

The purpose of this AIP is to support and empower Made By Apes businesses selling products and services that integrate $APE as a payment method and to generate much needed revenue for the DAO.

The funds will be distributed between 20 Made By Apes licensed businesses, each of which will be required to offer a 5% equity stake in their business to the DAO in exchange for a 50,000 $APE investment.

The idea is to boost and expand Ape IP by investing into several Made By Apes licensed businesses which could potentially result in generating enough revenue to turn a profit on the grant and increase the size and value of the DAO treasury, while simultaneously creating more utility and IRL use cases for ApeCoin.

BENEFIT TO APECOIN ECOSYSTEM:

This AIP brings many benefits to the ApeCoin ecosystem including but not limited to:

  1. Help prevent the DAO treasury from being depleted. With revenue coming in, the treasury will never run out of funds.
  2. The amount of $APE in the DAO treasury may increase if the DAO becomes profitable.
  3. Increase the value of the DAO treasury and reduce the amount of $APE disbursed for each expenditure.
  4. The price of $APE will potentially recover, but most importantly it will stop declining.
  5. There will be more utility for ApeCoin holders as the businesses that get funded will be required to accept $APE as a payment method creating more use cases for the token.
  6. Increase the number of businesses that accept $APE as a payment method creating more utility and irl use cases for the token.

I am certain there are more benefits to the ecosystem that will be discovered during the idea phase and after this AIP is implemented. Each of the businesses will likely offer unique benefits as well.

KEY TERMS:

Revenue: income, especially when of a company or organization and of a substantial nature.

Deplete: use up the supply or resources of.

PLATFORMS & TECHNOLOGIES:

There are currently 469 active MBA licenses, and we expect to receive well over 20 proposals. However if for some reason we do not have 20 proposals right away, we will hold the funds and have a second round to have more businesses apply. We will use Prop House (similar to Thank Ape) to select the top 20 Made By Apes businesses by community vote.

The top 20 will each receive a grant of 50,000 $APE

Each of the selected businesses will be required to

  1. Implement $APE as a payment method.
  2. Add the Powered By ApeCoin logo on their website.
  3. Add the Powered By ApeCoin logo to their product packaging if possible.
  4. Offer a 5% equity stake in their Made By Apes licensed business to the Ape Foundation.

STEPS TO IMPLEMENT & TIMELINE:

We will attempt make this process as frictionless as possible.

Create a Made By Apes “Community House” on Prop House and launch a funding round.

Reach out to all Made By Apes license holders and ask them to submit a proposal.

Have the community evaluate the proposals and vote on the ones that they believe have the most potential and offer the most value to the ecosystem.

Have the winners sign a standard agreement guaranteeing they will implement $APE as a payment method and transferring a 5% equity stake in their business to the Ape Foundation.

Then disburse the funds to the winners.

The only KPI for this project is to identify 20 MBA businesses that could use the funding and disburse the funds to them. The anticipated investment period for the selected projects will be at least one year.

I will manage the Prop House rounds myself, and we will mimic the voting strategy that has been used by Thank Ape. The community will have the opportunity to review all the proposals and vote using ApeCoin. We will suggest the criteria that the community should look for when voting however we will not gatekeep or control how they vote.

If this AIP is approved, we expect it will be fully implemented by Q4 of 2024.

OVERALL COST:

The total cost to implement this AIP is 1,000,000 $APE

Distributed as 50,000 $APE to each of the top 20 businesses by community vote.

No offshore vehicle has yet been created to receive the grant funds. If one is necessary then we will do what is needed to receive the grant money appropriately.

Once distributions begin, We will attempt to get all businesses in sync on a regular quarterly distribution schedule.

1 Like

Reserved to document any updates and changes.

7 Likes

Why would a made by apes company want to participate in this? They could integrate payment in APE on their own (for very little cost) and not have to share their profits with the DAO.

This reads that the only things a company would get out of this is up to 50,000 APE, and some free advertising, and it would cost them an undisclosed % of their profits (quite possibly in perpetuity), and a lot of time and energy campaigning for a chacen to win up to 50,000 APE.

6 Likes

I’m really excited about this proposal to support businesses run by fellow Apes and integrate ApeCoin into their operations. It’s all about empowering our community and expanding the usefulness of ApeCoin beyond just trading <3

4 Likes

Hi @Fuego,

The community feedback period for your proposal would be ending in roughly 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.

  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.

  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

1 Like

This topic was automatically closed after 7 days. New replies are no longer allowed.

Hi @Fuego,

Thank you for your ideas [and the ApeCoin DAO community for the insightful discussions].

A moderator will reach out to the author to finalize the AIP Draft using the appropriate template.

  • Once the AIP Draft is confirmed by the author and meets all DAO-approved guidelines, it will receive an AIP ID number and move forward for Draft Analysis Review.
  • @Fuego please see your messages for the next steps.

Follow this Topic as further updates will be posted here in the comments. In accordance with DAO-approved guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.

-@Facilitators

1 Like

Hi ApeCoin DAO Community,

@Fuego has completed editing their AIP Idea to be their AIP Draft.

This proposal has been assigned the AIP ID Number 431.

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

Kind Regards,

-@Facilitators

Hi ApeCoin DAO Community,

Our team has reviewed and discussed @Fuego’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

Hi ApeCoin DAO Community,

@Fuego has responded to our questions and has not provided consent to share them in this forum for the community.

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