ApeCoin Launch Contributor Transparency & Portfolio Company Disclosures:
TEAM DESCRIPTION:
Nova (Leo) - Co-founder of Other Page (Strategy, Marketing, & Operations). Co-founder of Vora Labs (web3 art & gaming studio). Seasoned SaaS marketing & revenue executive with multiple scale-ups & exits.
PROPOSAL DESCRIPTION:
When ApeCoin launched the ApeCoin Launch Contributors were given 140,000,000 tokens (see ApeCoin about section for breakdown: ApeCoin for the Web3 Economy). While all launch contributors were not disclosed, we know that two of those launch contributors who are actively involved in the ApeCoin DAO are Horizen Labs / Horizen Labs Ventures & Animoca Brands.
Over the past year, more and more portfolio companies, partners & customers of Horizen Labs / Horizen Labs Ventures and Animoca Brands (aka Apecoin Launch Contributors) have put up AIPs in the ApeCoin DAO and received funding. While this is fine, I believe that with ApeCoin’s price at an all-time low, we need to provide more transparency to the DAO voters regarding proposals submitted by ApeCoin Launch Contributors and companies (portfolio companies, partners & customers) affiliated with them.
I believe it is imperative for the DAO voters to know the following information before voting on any AIP from a portfolio company of one of ApeCoin launch contributors:
For portfolio companies of ApeCoin Launch Contributors:
- The portfolio company must disclose the name of the Apecoin Launch Contributor(s) on their cap table (Horizen Labs, Horizen Labs Ventures, Animoca Brands, or any combination of the three).
- The portfolio company must disclose the total percentage of their company owned by the Apecoin Launch Contributor(s).
- The portfolio company must disclose the total amount invested by the Apecoin Launch Contributor(s) to date, including all private and public rounds that the launch contributor participated in.
After each AIP is passed, a KYB is performed by the DAO, during which the cap table is submitted by the portfolio company. If the DAO’s legal team finds that the above disclosures were not made or were made inaccurately, then the AIP legal process is halted, and no funds are distributed to the portfolio company.
For customers, partners or vendors of ApeCoin Launch Contributors:
- The customer, partner, or vendor must disclose the name of the ApeCoin Launch Contributor (Horizen Labs, Horizen Labs Ventures, Animoca Brands, or any combination of the three) that they work with and the nature of their relationship (customer, partner, or vendor).
- The customer, partner or vendor must disclose the length of time (in months and years) that they have been in business with the ApeCoin Launch Contributor.
BENEFIT TO APECOIN ECOSYSTEM:
Improves transparency for DAO voters and keeps Apecoin Launch Contributors more accountable.
DEFINITIONS:
ApeCoin Launch Contributors - Animoca Brands & Horizen Labs / Horizen Labs Ventures
Customer - an individual or organization that purchases goods or services from the ApeCoin Launch Contributor(s)
Partner - an individual or organization that collaborates with ApeCoin Lauch Contributor(s) to achieve mutual goals.
Vendor - a person or company that supplies goods or services to the APeCoin Launch Contributor(s)
STEPS TO IMPLEMENT:
After this AIP is passed we will make the disclosure items outlined above required for portfolio companies, partners & customers of ApeCoin Launch Contributors when submitting an AIP idea.
REPORTING EXPECTATIONS:
Within 12 months of the proposal passing and being implemented we will prepare a report that contains all AIPs that were put up by companies affiliated with the ApeCoin Launch Contributors and total amounts raised. This repoirt available via my personal X/Twitter account (@prollynuthin). In addition to this, I will create a shared Google Sheet that they will update after each round of AIPs.
OVERALL COST:
Total amount requested from the ApeCoin Ecosystem Fund = $0.