AIP-5 Staking Proposal - Discussion

@mg @yatsiu @Garga 2x seems reasonable. I want to raise another topic: I vacillate on the soft-staking (at any level of rewards) concept.

I cannot see the DAO thriving without BAYC/MAYC members buying merch, cheerleading on NFT Twitter, attending DAO organized events, and generally speaking, caring about the direction of the DAO bc it is beneficial to them. Nobody cares about ape brand integrity and success like the members of the BAYC/MAYC. Literally the coin is named after the the casual name for all BAYC/MAYC owners “Ape” and its guiding value (i.e. spirit) is pulled right out of our discord “1 Ape = 1 Ape”.

I also can’t see non-BAYC/MAYC owners, even if they owned ApeCoin, ever caring as much about the ApeDAO, events, merch and IP. as BAYC/MAYC owners.

Garga and many others make very fair points about why soft-staking is not the right path for the DAO. Garga makes the salient point that we must do what is in the spirit of the DAO. We want to incentivize and encourage participation by BAYC/MAYC but expect them to value the health of the DAO in return. That is, not just take their coins, swap them for eth and wash their hands. I tend to think soft-staking can fit into this criteria if thoughtfully executed.

I can see even just a minimal reward going a long way to incentive and encourage participation by the BAYC/MAYC community. Newcomers can earn a little $APE, stake that $APE for those juicy rewards, and learn the joys of participating in the DAO. Anyway, food for thought, if apes don’t want to participate and look out for the DAO, we can always change it later.

4 Likes