Hi ApeCoin DAO Community,
@ApedLate has responded to our questions and has shared them in this forum for the community in the form of an AIP update. Each of the following responses have been added to the AIP as requested by the author.
Click to expand Q&A with @ApedLate
1. Please revise your Overall Cost section, as specified by the AIP Draft Template:
- Include a more detailed breakdown of the budget, specifically “Training Materials and Videos” and “Management costs, reporting and events.”
- Include any additional requests that are directed towards the APE Foundation, especially concerning the community discussion platforms, website, or Snapshot.
[Overall Cost section revised to include cost breakdown spreadsheet]
2. Are there any specific events you would be looking to establish a presence at?
Key Events for Ape Kart (Year One)
Accountex (Accountex.co,.uk)
We chose this London-based event due to the expected attendance numbers. They are currently predicting eleven thousand attendees. We also believe that the event counts towards CPD (16 hours), thus ensuring the attendees will remain at the venue to ensure full CPD credit.
UK FinTech Week (UK FinTech Week 2025 - Innovate Finance – The Voice of Global FinTech)
We plan to attend UK FinTech Week to add legitimacy to Ape Coin and the broader ecosystem. The attendance of the HM Treasury, the City of London, and the Department of Business and Trade will help support the idea of crypto as a mainstream financial offering.
Private Credit Connect (Private Credit Connect: London)
We plan to attend this event based on the audience’s openness to alternative investments and loans. In our specific case, we felt this lends itself to crypto and Ape Coin.
Christmas Fair (or similar)
We plan to attend our local Christmas Markets as seeing crypto normalised is vital for broader adoption; it’s also a novel gift for a family member during the holiday period.
3. Since your proposal would require novice token holders to create wallets, what are the plans for security education regarding safe creation, storage and maintenance of private keys?
With regards to the training materials produced, we will create a Gitbook, apply an ISBN before making it open source to the wider $APE ecosystem. We will concentrate on explaining the fundamentals of web3 and signpost to other Ape projects for more detailed training.
For example;
We would explain the importance of keeping your seed phrase and keys safe before signposting the new user to Bored Security. Our ideal solution is that the Ape Kart becomes a funnel for several other Ape Coin funded/Ape owned businesses.
4. Do you have plans to protect any collected user data? Please elaborate.
As a business in 2024, we recognise the paramount importance of maintaining a secure customer database that is fully compliant with data protection, FCA , and GDPR legislation. To ensure this, we plan to use mailchimp.com to manage our signup databases, thereby capturing and managing key information correctly. This approach will also enable Ape Kart to establish relationships with new holders and potentially refer (with consent) users to other Ape-funded businesses.
5. Regarding any granted permission to use ApeCoin trademarks by the Ape Foundation, do you expect to maintain full ownership rights to the content and/or IP which may be created as a result of the approval of your proposal?
The Ape Kart will use Mutant Ape #4455 and Bored Ape Kennel Club Dog #5503, owned by Jonathan Pullinger (sandero.eth); we will not use any BAYC fonts or the skull logo on any branding or merchandise (cups). We will seek permission to use the official Ape Coin logo on our payment board and wrap. If rejected, we will use a different font / colour scheme.
6. Given the costs involved in your proposal, the APE Foundation would most likely establish fund disbursement in tranches should your AIP be accepted. In what amounts and on what schedule would you propose these tranched payouts be delivered?
One of the crucial discussions that arose during my consultation process was the distribution of $APE. We considered the option of releasing it in phases, a move that would protect the treasury and increase the chances of approval for AIP-509. I fully grasp the concerns and have worked closely with the team, ensuring that everyone’s perspectives are considered when developing a tranche release schedule. This collaborative effort ensures that all stakeholders are involved in the decision-making process, making the proposal more inclusive and effective.
The initial payment of $18,340.07 would be made in $APE (25,046.6201 at the time of writing). This will allow the additional costs of the proposal to be met and ensure the business makes it to at least one event to generate $APE awareness and sign-ups.
Milestone One: 643 new user wallets.
We would anticipate over the first major three-day event to hit/exceed 643 new wallets; a new wallet would also contain at least one transaction (the receipt of $5 in $APE) and ideally a minimum of two transactions as we hope they’ll use those tokens to purchase a nice warm coffee or a cold Kombucha from the kart. Unlocking our second tranche of funding of $13,483.60 to be paid again in $APE (18,471 $APE at the time of writing).
Milestone Two: 788 new user wallets.
As the business grows, we attend events focused on $APE and traditional events (for example, game fairs, festivals, etc). We expect to onboard a further 788 new wallets. We would unlock our third tranche of funding, $20,936.22, upon achieving this. Again, this would be paid in $APE (28,680 $APE at the time of writing).
Milestone Three: 1183 additional new user wallets.
When the kart achieves this number, we will discuss a twelve-month extension for our Ape Kart programme.
7. Do you provide consent to apply updates to the relevant areas of your proposal based on your responses to the questions above?
[AIP has been updated according to shared public document provided by the author]
8. Do you provide consent to share these questions and answers with the community in this forum?
[See response to Question #7]
A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
