AIP-460: Launch Apekin Coin on ApeChain

Withdrawn AIPs
1

PROPOSAL NAME:

Launch Apekin Coin on ApeChain

TEAM DESCRIPTION:

WebMoss
I am a Software Engineer by trade who is passionate about Web3 and thrives on creating pixel-perfect software applications. I have been an active member of the ApeCoin DAO and community since March 2023 and authored AIP 376 - Web3 Development WG.

Forum: Profile
Twitter: @WebMoss

I will collaborate with different community members, projects and MBAs during execution of this AIP.

PROPOSAL DESCRIPTION:

Apekin_Coin_Launch

I propose to launch Apekin Coin/Token on ApeChain using the Ape Express platform. The aim is to create a fun community initiative and distribute Apekin, our new ApeCoin community coin, to a targeted and relevant audience, leveraging the efficient and secure Ape Express platform on ApeChain. This proposal aims to support builders and projects on ApeChain and highlight the opportunities on offer.

Objectives:

  1. Community Engagement: Run fun competitions and giveaways to foster community involvement.
  2. NFT Creation: Create an inaugural ApeChain NFT by community artist Jeff Aphisit
  3. Game Development: Utilise proceeds from the coin launch to create a fun, interactive game.
  4. Ecosystem Support: Retain 6.9% of the total Apekin Coin supply for further marketing, promotions, community engagement, game development, and overall ecosystem enhancement.

Airdrop Details:
Apekin Coin will be airdropped to active ApeCoin community members, holders of Yuga Assets and Mocaverse NFTs on ApeChain. The details of the airdrop will be finalised and announced through our twitter account @ApekinCoin

Rationale:
This initiative aims to:

  • Highlight the potential and opportunities within the ApeChain ecosystem.
  • Encourage builders and projects to explore and utilize ApeChain.
  • Create a lively and interactive community through innovative uses of Apekin Coin.

Conclusion:
Launching Apekin Coin via the Ape Express platform will provide a secure and efficient method to engage the ApeCoin community, support the ApeChain ecosystem, and introduce exciting new opportunities for builders and users alike.

BENEFIT TO APECOIN ECOSYSTEM:

Airdrop Benefits for the ApeCoin Ecosystem:

This airdrop will enhance the ApeCoin ecosystem by:

  • Increasing Community Engagement: Boosting interaction and participation within the ApeCoin community.
  • Adding Value for Holders: Providing value to Yuga Assets and Mocaverse NFT holders, thereby fostering loyalty and further investment in the ecosystem.
  • Showcasing Ape Express: Demonstrating the capabilities of the Ape Express platform, promoting its use for future airdrops and transactions on ApeChain.
  • Establishing Apekin Coin: Positioning Apekin Coin as a community coin with various use cases, fostering a sense of ownership and participation among community members.
  • Introducing a Fun Game: Creating a game that incentivizes interaction with Apekin Coin and ApeChain, driving adoption and creating additional use cases for both.

Use of Requested Funding:

The requested funding will be used to cover:

  • Technical implementation costs.
  • Marketing efforts.
  • Legal and operational costs associated with the airdrop.
  • Initial community-building activities.

Game Development and Future Initiatives:

The development of the game will be funded through proceeds from the coin launch. Additionally, 6.9% of the total Apekin Coin supply will be reserved for future development and community initiatives.

DEFINITIONS:

Apekin Coin: A new cryptocurrency token developed for use within the ApeCoin ecosystem.
Ape Express: A platform on ApeChain designed for efficient and secure token distribution and transactions.
ApeChain: A blockchain network optimized for the ApeCoin ecosystem.
Yuga Assets: NFTs and other digital assets associated with the Yuga Labs brand.
Mocaverse NFTs: A collection of NFTs known for their artistic value and community engagement.
Community Coin: A cryptocurrency designed to be used by and for a specific community, enhancing engagement and participation.
Interactive Game: A digital game that incorporates Apekin Coin for in-game transactions, rewards, and interactions.

STEPS TO IMPLEMENT:

Preparation Phase (Month 1)

  • Setup of legal entity.
  • Develop and launch a dedicated website.
  • ApeChain Inuagural NFT sale to the ApeCoin community.
  • Launch Apekin Coin on the new Ape Express platform on ApeChain.
  • Announce airdrop to the community.
    Cost: $49,000 (Website Development, Ape Express Coin Launch Costs, Initial Liquidity, and Legal Fees)

Airdrop Execution Phase (Month 2)

  • Snapshot Active ApeCoin members, Yuga Assets and Mocaverse NFT holders.
  • Distribute Apekin Coin via Ape Express.
  • Provide support and troubleshooting.
    Cost: $1,000 (Execution and Support)

Marketing and Community Engagement (Month 2)

  • Launch marketing campaign.
  • Host community events and AMAs.
  • Launch initiatives like merch giveaways to promote Apekin Coin as a community coin.
    Cost: $49,000 (Marketing, Promotions, and Events)

Reporting and Analysis (Quarterly)

  • Collect data on airdrop impact and community coin engagement.
  • Prepare and share a detailed report with the community.
  • Plan next steps based on feedback and analysis.
    Cost: $1,000 (Reporting and Analysis)

REPORTING EXPECTATIONS:

We will provide quarterly progress reports to the community via our preferred communication platforms (Discord and ApeCoin forum). Reports will include updates on milestones, financial expenditures, and community feedback.

REVENUE SHARING:

To further align the initiative with the interests of the ApeCoin DAO, we propose a 30% gross revenue share with the ApeCoin DAO. This revenue share will come from all revenue streams associated with Apekin Coin, including but not limited to NFT mints, merchandise purchases, and any other monetization strategies implemented within the Apekin ecosystem.

OVERALL COST:

Total amount requested from the ApeCoin Ecosystem Fund = 100,000 ApeCoin

6.9% of the total Apekin Coin supply will be reserved by the team for future community engagement, marketing, promotions, ecosystem enhancement and game development. Any tokens sold by the team will be done in tranches with no more than 1% sold at any given time.

10% of the Apekin supply will be airdropped to the ApeCoin DAO to use as the community sees fit.
10% of the Apekin supply will be airdropped to the Mocaverse to use as the community sees fit.
10% of the Apekin supply will be airdropped to ApeCoin delegates and NFT communities in the ApeCoin ecosystem.

We request the APE Foundation allow us to further utilize the Apekin IP in a manner that upholds the brand guidelines.

I would like to personally thank @AnnieRawrz for allowing me to move forward with this idea.

2

Just $42k? NGMI
Increase budget to atleast $1 million bro.

3

The idea is to launch on Ape Express, we only need 20k to launch and start liquidity on their platform on ApeChain.

There will be 6.9 % that will be allocated to paying for the rest, would be cool if we could develop a game in the end.

It’s not ment to be a scam pump and dump, but more of a fun way to include and welcome users to ApeChain and take Apekin to the moon :crescent_moon: :grinning:

2 Likes
4

I’d increase the marketing budget some. If we’re seriously building something behind the coin, I’d think about paid marketing on socials beyond X.

3 Likes
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My satire comment on was around what @VonFrontin said here @0xWebMoss , the marketing funds to expand the $ape ecosystem to general public.
About the game, I’m actually in progress of creating my studio which I’m working hard on, also in progress of acquiring an existing business to expand my own studio and game development would be a part of it. None of the marketing stuff is possible under $42k coz not even now people use Apekin as a mascot. Majority of people are unaware of this too lol

1 Like
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The name of the proposal seams unrelated to what you actually asking.

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Thanks for your feedback @VonFrontin

May I ask what you think would be a good estimate, I didn’t want to make it seem like a cash grab, I initially put 25k but lowered it some.

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Thanks for the feedback, I wanted to grab attention :slightly_smiling_face:

Open to suggestions

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At least double. All depends on the reach we want to achieve (ultimately determined by number of initial token holders).

Fired the question into ChatGPT and this is what it popped out:

Here are some considerations and typical budget ranges to help you determine an appropriate initial budget:

1. Goals and Metrics

Define what success looks like for your campaign. Are you aiming for a specific number of token holders, a targeted reach in terms of audience, or particular engagement levels? Establishing clear KPIs (Key Performance Indicators) such as website visits, wallet sign-ups, or community engagement metrics will help in planning your budget.

2. Target Audience

Identifying your target audience will dictate which platforms you should focus on and how much you’ll need to spend to reach them. Meme-based cryptocurrencies typically do well on platforms like Twitter, Reddit, and Telegram where crypto conversations are vibrant and community-driven.

3. Platform Choices

Different platforms have varying cost structures:

  • Facebook and Instagram: Good for broad reach and targeting specific demographics. Costs can range from $0.50 to $2.00 per click.
  • Twitter: Ideal for real-time engagement and reaching influencers in the crypto space. Promoted tweets might cost anywhere from $0.50 to $3.00 per engagement.
  • Reddit: A critical platform for meme-based assets, particularly in subreddit communities relevant to cryptocurrencies. Advertising can start from $0.20 per click to $1.00 per click depending on targeting.

4. Competition and Market Saturation

The more saturated the market, the higher your costs will be to differentiate your cryptocurrency. Research what similar projects are doing and how much they’re spending.

5. Initial Budget Recommendations

For a new cryptocurrency, particularly one that’s meme-based and seeking to gain rapid traction, you might consider setting an initial monthly budget ranging from $10,000 to $50,000. This budget should be split across creative development, paid ads, influencer partnerships, and community management.

Breakdown

  • $4,000-$20,000 on paid advertising across platforms like Twitter, Reddit, and crypto-focused ad networks.
  • $3,000-$15,000 on influencer partnerships to leverage credibility and tap into existing communities.
  • $3,000-$15,000 on content creation and community management, including hiring community managers, graphic designers for memes, and content creators.

Adjusting Your Budget

Start with testing smaller budgets in specific channels to gauge response and effectiveness. Analyze performance data rigorously and reallocate budgets towards the most effective channels. Be prepared to adapt and iterate on your strategy based on what data shows about where you’re getting the best ROI.

Remember, the key to a successful campaign, especially with meme-based assets, is virality and community engagement. Focus on creating engaging, shareable content that resonates with the crypto community.

1 Like
10

Thanks @VonFrontin

I’ll need to digest this and see how we can cut costs. My initial thinking was using Blever to do some of the Social side. It would be a great way to put some of our new ApeChain projects under the spotlight.

I’m going to keep cooking on this idea some more and chat with the AIP Coaches, could be an interesting opportunity to get feedback on.

1 Like
11

I just had a few questions. Would this proposal create Apekin Coin, or does Apekin Coin already exist? Is it an ERC-20 on ETH? Also, do you have artwork for it, and what differentiates it from Apecoin?

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Gm @DavidW

The idea would be to launch Apekin Coin on ApeChain using Ape Express and hopefully Blever. No Apekin token exists as far as I’m aware.

The idea is to create something fun to engage our community and get some hype going around ApeChain.

No Artwork has been made yet for this AIP but there is some for the original mascot designs.
Ultimately I would like to create more artwork for this project, memes and other marketing materials but these will still need approval from the DAO should the idea be well received by community.

Thanks for your questions and feedback.

WebMoss

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Thanks for the quick reply! I do appreciate the therian / otherkin movement (if that’s where the “kin” came from) and I think it’s a cool expansion to Ape.

1 Like
14

A proposal to be passed by a vote of Apecoin holders and by taking APE from the DAO treasury. But airdrops are planned for Yuga and Mocaverse NFT holders. What a logical contradiction!

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Hi @umurafan

Thanks for your feedback, the logic is determined by Ape Express platform which will allow for airdrops to NFTs as part of the application, I’ve asked the team about this.

I will need to confirm with the team if they will have functionality to perform an airdrop to active ApeCoin community member wallets which will be done if/when possible. I have made edits to the AIP to reflect this.

Thanks
WebMoss

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Hi @0xWebMoss,

The community feedback period for your proposal would be ending in less than 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
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This topic was automatically closed after 7 days. New replies are no longer allowed.

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Hi ApeCoin DAO Community,

@0xWebMoss has completed editing their AIP Idea to be their AIP Draft.

This proposal has been assigned the AIP ID Number 460.

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

Kind Regards,

-@Facilitators

1 Like
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Hi ApeCoin DAO Community,

Our team has reviewed and discussed @0xWebMoss 's AIP Draft and has 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