AIP-489: Restoring Balance

Hi @Gerry ,

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.
  • @Gerry 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guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.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

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Hi ApeCoin DAO Community,

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

This proposal has been assigned the AIP ID Number 489.

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 @Gerry '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

Firstly. I am a holder of BAYC, MAYC and Otherside.

Secondly, BAYC and MAYC got airdropped APE and if those holders sold their APE, why should they be awarded vs communities that got 0 airdrop and are acquiring APE.

Approximate airdrops

10k x 10k = 100m

30k x 2k = 60m

I am not even accounting the exact number (which is a bit more), or bonus for BAKC or staking rewards.

BAYC and MAYC could have easily been the largest delegations by far.

Many of them sold their APE and if I am reading correctly the AIP is going to rewarded them for doing so.

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A lot can and has happened in the past 2 years.

Its also worth noting that the largest voting block is controlled by people who arenā€™t required to hold a single ApeCoin nor have they ever been dropped any to hold or sell.

Both solid points. I hope this AIP proceeds to voting so the community can decide on this.

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That is true.

However, Animoca got their APE, I believe from being an investor in Yuga Labs. Therefore, it still isnā€™t ā€œfreeā€ APE, also many of the holders of Mocaverse, see that voting on AIPs is a value add to owning the Mocaverse NFT.

Also I noticed that Mocaverse has 2 wallets, one with 6m and one with approximately 300,000, which seems to have many wallets delegating to it. Making it the third largest wallet in terms of delegators.

image

https://www.bloomberg.com/news/articles/2022-03-22/bored-apes-creator-yuga-raises-450-million-to-fund-expansion

https://www.businesswire.com/news/home/20220322006088/en/Yuga-Labs-Closes-450-Million-Seed-Round-of-Funding-Valuing-the-Company-at-4-Billion-Confirms-Plans-for-Metaverse-Project

Andreesen Horowitz led the $450 million funding round, Yuga Labsā€™ first, with participation from Animoca Brands, Coinbase, Moonpay and FTX.

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Hi ApeCoin DAO Community,

@Gerry has responded to our questions, which are in our review again.

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

Kind Regards,

-@Facilitators

Hi ApeCoin DAO Community,

Edits have been made to this Topic with the authorā€™s consent.

You can click the Pencil icon at the top of the post to see these edits.

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

Kind Regards,

-@Facilitators

Hi ApeCoin DAO Community,

We have no further questions for @Gerry . This AIP is now under Administrative Review.

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

Kind Regards,

-@Facilitators

This proposal is live for vote on Snapshot. The voting period closes 13 days from now at 9PM EST.

The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimize for security and usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.

Hi ApeCoin DAO Community,

The voting has closed for this proposal and it has not been approved.

This Topic will be moved to and remain in the Rejected AIPs subcategory.

-@Facilitators