Proposal Name: “Planets for the Apes” AIP
Team Description: Xavier Capital is a multi-strategy investment firm based in Chicago, Illinois USA, focused on long-term investments, operational strategy, business management, and compliance with blockchain technology. With +8 years of experience across multiple L1 blockchains, we have helped optimize numerous decentralized businesses, foundations, and networks by understanding and leveraging the human element of these ecosystems to further innovation and success. Additionally, Xavier Capital has been a BAYC Community Member since October of 2021.
Jordan Xavier CV: I have been active in the blockchain/cryptocurrency industry since 2014. I have helped establish and run both for-profit and not-for-profit businesses. My experience ranges from administrative, operations, human resources, accounting, corresponding legal, and coordination.
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Currently run two validators (Secret Network & Jackal Protocol)
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Set up Secret Networks’ foundation and was also COO for ~24 months
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Built an application the Secret Network
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Advise (macro) and consult (hands on keyboard) to 3 Cosmos based teams
Proposal Description: Xavier Capital would like to make a formal ApeDAO proposal that introduces a collaboration between ApeDAO and a handful of Cosmos-based teams. The goal of this proposal is to help increase the growth potential for both BAYC and $APE communities, help secure metadata for BAYC Assets, and offer privacy-preserving solutions for users’ data and assets. Additionally, this collaboration outlines additional revenue streams potential for ApeDAO and users.
Benefit to ApeCoin Ecosystem: This proposal will sustainably create and incentivize multiple new markets for ApeCoin within Cosmos DeFi, opening up numerous earning opportunities and utility for $APE holders including the ApeDAO. Additionally, this proposal will introduce the ApeDAO, ApeCoin, and BAYC Community to four cosmos ecosystems, specializing in private DeFi, Decentralized private Data Storage, private Communications, and Payment Solutions, ultimately providing greater protection from value extraction and reliance on Yuga Labs for data accessibility.
Definitions:
- Interoperable: The ability to transfer and/or compute data or value across multiple blockchains
- Staking Derivative - a liquid token that represents a staked asset
- Protocol Owned Liquidity (POL) - Liquidity owned and managed (passively) by one or multiple protocols.
Platforms and Technologies:
- Jackal Protocol - Jackal Protocol is an interoperable Layer 1 blockchain in the Cosmos Ecosystem and storage network delivering flexible and fast on-chain access to decentralized data storage everywhere.
- Alter Network - a suite of privacy-preserving communication dApps, payment processing tools, and multi-chain DNS system built on the Secret Network (privacy-preserving smart contract platform in Cosmos Ecosystem) and Ten Network.
- Astrovault - re-envisioned AMM that fixes a core problem — AMMs are not economically viable. This Cosmos DEX is the first to monetize liquidity! Additionally, Astrovault is a governance aggregator and can offer sustainable incentives giving unique advantages to your DAO while offering unique staking and Liquidity-providing opportunities.
- Shade Protocol - Shade Protocol is a suite of interconnected private dApps built on the Secret Network. Shade dApps include a privacy-preserving DEX, a non-usd pegged private stablecoin (SILK), a bonds marketplace, private borrowing and lending markets, liquid staking derivatives, and staking. All tokens and dApp interactions are private by default but can be accessed by whoever holds the decryption key.
- Axelar Network - While not explicitly a partner for this collaboration, Axelar is the most suitable bridge provider to work with about bridging $APE from Ethereum to the Cosmos, and is natively integrated with all exchange venues mentioned in this proposal as well as many of the top DeFi applications on Ethereum.
Steps to Implement:
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ApeCoin Market Creation:
- Deal mechanics:
- Shade Protocol provides $100k in SHD; ApeDAO provides $100k in APE. The funds are combined into LP tokens that provide $200k of liquidity to trade on ShadeSwap
- Archway provides $100k in ARCH; ApeDAO provides $100k in APE. The funds are combined into LP tokens that provide $200k of liquidity to trade on AstroVault (DEX on Archway).
- Both AstroVault and Shade Protocol will additionally provide LP rewards for their respective ApeCoin liquidity pools.
- Either ApeDao would be the sole custody of combined funds or the LP tokens would be split between the respective parties (at their discretion).
All technical preparation for supporting infrastructure, pool creation, and liquidity provision for the collaboration will be handled by respective DEXs. - If the ApeCoin DAO were to custody the funds from the jointly provided liquidity on both Archway and Secret Network, the ApeCoin DAO’s administrative team would need to:
– Create a multisig on both Archway and Secret Network that includes necessary members from ApeCoin DAO’s administration that can control the custody of the funds. If funds ever needed to be withdrawn and returned to the ApeCoin Treasury, the multisigs would unbond the liquidity position and then send the relevant $APE to Jordan Xavier, the trusted intermediary for the proposal, who would then handle the bridging of $APE from the respective L1 blockchains in the Cosmos back to Ethereum, after which he would send to the ApeCoin Treasury address. Members of the APE Foundation would have the ability to opt-in to participating.
- Should the APE Foundation be unwilling or unable to participate, as the trusted 3rd party within this deal, Xavier Capital is willing to custody the jointly provided liquidity between ApeDao and the respective DEXs in the Cosmos ecosystem. However, both DEX teams are also willing to custody the jointly provided liquidity on their respective DEXs should the ApeDao prefer for them to directly custody the funds.
- If funding proposals from the relevant organizations are not approved, the portion of the ‘Planet for the Apes’ proposal involving jointly provided liquidity for the referenced Decentralized Exchanges would be null and void.
- Steps to Implement:
- KYC Xavier Capital Inc. is the trusted intermediary for the handoff of APE liquidity from ApeDAO to exchanges for pairing liquidity tokens, as well as the handoff of LP tokens to custody by ApeDAO post liquidity provision.
- Whitelist APE as a bridgeable asset via Axelar Network
- Pass Community Spend Proposal for Archway (for ARCH POL) - Handled by Astrovault
- Pass Community Spend Proposal for Shade Protocol (for SHD POL) - Handled by Shade Protocol
- To coordinate with the Cosmos-based teams involved in this collaboration, we would set up necessary communication channels on Telegram.
- Create APE Dex pairs on respective DEXs (handled by DEX partners)
- Pass Community Spend Proposal for ApeDAO (for APE POL and APE incentives) - Handled by ApeDAO
- APE FOUNDATION REQUEST: Promote passing of spend proposal and upcoming collaboration to build liquidity for APE on DEXs in new ecosystems.
- Bridge APE from Ethereum to Archway and Secret Network via Axelar
- Seed liquidity and emissions for new DEX pairs (handled by DEX partners)
- APE FOUNDATION REQUEST: Promote the launch of new LPs for APE on DEXs in new ecosystems. This would include promoting educational material for how APE holders can access the new earning opportunities.
- ApeDAO members create Jackal accounts and backup all aforementioned data and anything desired to backup
- Deal mechanics:
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Decentralized Storage and Communications Access:
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Deal Mechanics:
- Jackal Protocol would provide access to encrypted decentralized storage (as an alternative to centralized solutions or less efficient and secure IPFS) to be used by ApeDAO and BAYC ecosystem entities for archiving NFT metadata, Forums, transparency reports, blockchain snapshots for token/NFT airdrops, etc
- Alter would provide access to encrypted file storage, multi-chain domain name service (DNS), as well white table access to an encrypted decentralized communications platform.
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Estimated Timeline:
- Given the approximate 8-10 week lead time required for an AIP to go through the full governance process, the estimated timeline for execution of the technical and BD requirements of this proposal is ~8-10 weeks as well (although actual preparation will take much less time).
Reporting Expectations:
Xavier Capital Inc. commits to publishing Implementation Updates to the ApeCoin community in the AIP Execution and Transparency section of the ApeCoin Forums throughout the implementation of “Planets for the Apes” AIP.
If the “Planets for the Apes” AIP is fully implemented, Xavier Capital commits to publishing either monthly or quarterly reports on user and token growth within the new ecosystems unlocked by this AIP, subject to the preference of ApeCoin DAO and community.
Overall Cost:
Total amount requested from the ApeCoin Ecosystem Fund = $220k USD of APE (nominal token amount determined
- $200k $APE for providing matching liquidity on 2 Cosmos-based DEXs (each exchange will put up $100k in their own token)
- $20k APE for providing matching incentives on 2 Cosmos-based DEXs (each exchange will put matching value for incentives denominated in their native token)
Spend Request Breakdown:
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$100k USD of $APE to be paired with $100k USD of $ARCH on Archway DEX (Astrovault)
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$100k USD of $APE to be paired with $100k USD of $SHD on Secret Network DEX (ShadeSwap)
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$10k USD of $APE to be used to incentivize additional liquidity provision and trading activity on Archway DEX (Astrovault)
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Daily distribution of $APE amount depends on the length of the emissions campaign and the nature of the emissions schedule (whether it is constant or logarithmic). We recommend these incentives be distributed over 6 months
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($1.6k USD of $APE per month / ~$55 USD per day if using a constant emissions schedule)
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$10k USD of $APE to be used to incentivize additional liquidity provision and trading activity on Secret Network DEX (ShadeSwap)
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Daily distribution of $APE amount depends on the length of the emissions campaign and the nature of the emissions schedule (whether it is constant or logarithmic). We recommend these incentives be distributed over 6 months
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($1.6k USD of $APE per month / ~$55 USD per day if using a constant emissions schedule)