Proposal Name: An Opportunity for ApeCoin DAO to be a leading voice for DeFi politics
Proposal Category: Core Ecosystem Allocation/Branding
The Web3 political landscape is quickly shifting towards regulation. ThreeOh DAO has the infrastructure in place to take on overregulation and support Web3 advocates running for office. This proposal was created to provide ApeCoin DAO with an opportunity to be at those tables, and guiding the greater Web3 community.
Weekly we hear about the need for regulation, or other ideas about regulating the Web3/DeFi community. Many of the key proponents of regulation are politicians and federal regulators. Most of these groups have little or no experience with cryptocurrency, NFT’s, blockchain technology, Metaverse, with some lacking even a basic understanding of Web3. ThreeOh DAO has spent the past 5 months building the political structures required to fully participate in the standard process of political lobbying. The utility for the project is already online, and we are transitioning to community building and project marketing that will coincide with the start of midterm election season in the US in June. The need for Web3/DeFi advocates can’t wait for future political cycles. Two years ago politicians cared very little about Web3 technologies, but as more money and big business has started flowing towards these technologies, the government has taken notice and started crafting policies that will regulate the space. Make no mistake, regulation of the space will happen. This movement will leave DeFi with two options: 1) continue as normal and hope the CEX’s and big business will advocate properly, which is doubtful. 2) Stand up as an international community and push the true narrative of Web3 on the system by funding DeFi advocates, and taking an active role in Web3 politics. This is where ThreeOH DAO steps in.
ThreeOh DAO is establishing itself as the premier political wing of DeFi. It is the only project that is working with 2 lobbies in DC, has an established Super PAC, and 2 nonprofit organizations. ThreeOH DAO is the only DAO actively participating on Capitol Hill. ThreeOH DAO is guided by the Prioritization Council. The Prioritization Council is made up of 9 members, 6 are voted in based on the community vote, and the other 3 positions are appointed by the ThreeOH DAO team. The team is making an effort to appoint 2 of the seats from larger projects that highlight what Web3 is truly about. The community seats are currently given yearly terms and cannot be held in succession. The three appointed seats can be reappointed for annually for eternity.
We currently have a live community vote for a Cult DAO guardian to receive 1 spot. This will close in the next 2 days. We would like to offer ApeCoin DAO an opportunity to be the other appointed seat. We believe the background that ApeCoin DAO has in regards to the Metaverse and NFT’s is unmatched. Since these are both important for the future of Web3, we wanted to extend the opportunity for the ApeCoin DAO community to vote on the opportunity to partner with ThreeOH DAO and bring their expertise in one of your appointed seats. In return for this opportunity, ApeCoin DAO would provide 50,000 APE to our treasury. We believe this demonstrates a commitment to supporting ThreeOh DAO’s mission, as well as the mission of DeFi and Web3. ApeCoin DAO will choose who their representative is, and will hold that seat for perpetuity.
Political Structure Breakdown:
Lobby 1: Runway Strategies (https://www.runwaystrategies.co/)
Lobby 2: FS Vector https://fsvector.com/
Super PAC: Web 3.0 Super PAC (www.web30.com)
501c3 Educational Nonprofit: DeFi Education
501c4 Donations Nonprofit: DeFi Advocacy
Legislative tracker: https://threeohdao.com/legislative-tracker/
The need for strong voices in the space naturally drew us to ApeCoin DAO. We have a strong relationship with Cult DAO, and were one of their first 3 approved proposals and recently received another round of funding for our DeFi Education campaign. We maintain a strong connection with multiple guardians, as well as their Developers. A Cult DAO approved member provides ThreeOh DAO with an expert board member for decentralization. Our rationale for approaching ApeCoin DAO is based on the need for content experts in the realm of NFT’s and the Metaverse. The BAYC, MAYC, BAKC, Otherside Metaverse, and APE communities have proven to be intelligent and savvy investors. We believe our goals align closely with the APE community. One look at your guiding values and our core principles demonstrate a close connection in our visions for the future of Web3 and DeFi.
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- Boldness: We don’t shy away from the weird, the hard, or the new.
- Equality: One APE equals one APE.
- Transparency: Processes and decisions are shared openly with the community.
- Collective Responsibility: We leave everything better than we found it.
- Persistence: Success is an ouroboros, not a straight line.
1. Furthering the beliefs of the Web 3.0 community
1. Educating both politicians and the general public alike on the merits of blockchain technology, and it’s benefits to our society
1. Providing a voice for the crypto community on legislation designed for blockchain
1. All voters voices should carry weight, not just the voice of big money
1. Provide a public, Immutable History
Briefly looking through these goals both, you will note the similarities in equality and transparency, as well as utilizing the collective voice of the DAO to provide their voice at the regulatory table.
We also match the others in our actions. We are the first project to use DeFi to take on the political establishment. When we launched we quickly found that the need for our project is there, but the structural nature behind it required that we focused on establishing our utility before setting out to be voice of the community. Our team’s persistence has been second to none. Establishing strong connections throughout different areas in the space, the time has come to start the building.
As of current, our utility is functioning and funded. We are now seeking to fill out our permanent Prioritization Council seats with strong community leaders and begin growing our community and impacting the space. We will have an impact on midterm races in the US in the ’22 election cycle. Our expectation is that the cycle between the ’22 and ’24 elections is where a significant amount of the initial legislation will take place. This provides us an opportunity to stay out ahead of the trends and be proactive instead of reactive or powerless to the changes.
Key Terms (optional)
Definitions of any terms within the proposal that are unique to the proposal, new to the APE Community, and/or industry-specific.
Prioritization Council: This is the ThreeOh DAO’s guiding and executing body. It is made up of 9 total members, 3 assigned from our leadership team, and 6 that are voted in via community vote. This committee has direct access to the information relayed through our affiliated Lobby’s (Runway Strategies and FS Vector), and our Super PAC. This is the first line of review for new proposal votes, and legislative/politician reviews. These decisions are guided by our Core values. After the DAO has voted, this body is charged with executing the will of the people!
The 6 community seats are voted on annually, and an individual cannot hold a seat for more than 1 term. However, the 3 appointed seats are reoccurring seats, and in the case of ApeCoin DAO would be permanent fixtures on the Council. (This could be filled with a new member annually, but the seat would be held by an ApeCoin DAO appointed member.).
Super PAC: Super PACs (independent expenditure only political committees) are committees that may receive unlimited contributions from individuals, corporations, labor unions and other PACs for the purpose of financing independent expenditures and other independent political activity. (www.FEC.gov)
Lobby: any communication with an official of the executive or legislative branch of State government for the ultimate purpose of influencing any executive, legislative, or administrative action. (www.ncsl.org)
501c3: 501(c)(3) designated organizations fall into one of three categories: charitable organizations, churches and religious organizations, and private foundations.
ThreeOh DAO has established an educational organization, DeFi Education. The intent of this organization is to educate politicians and the political establishment about the benefits of Web3/DeFi innovations.
501c4: an organization must not be organized for profit and must be operated exclusively to promote social welfare.
ThreeOh DAO has access to DeFi Advocacy, which is a 501c4 organization that promotes the advancement of digital assets and web3. The goal of this organization is promote broad acceptance of Web3 technologies, and bring about social change through the use of digital assets.
The specifics for this opportunity are detailed as follows. The ApeCoin DAO treasury provides ThreeOh DAO with 50,000 ApeCoin investment, and in return ApeCoin DAO will receive one of the 2 remaining appointed seats on the ThreeOh DAO Prioritization Council. ApeCoin DAO’s Council position will be available to any ApeCoin DAO elected party for perpetuity. The ApeCoin DAO community may choose to elect new members or continue with the same member for as long as they like. This position will remain in ApeCoin DAO’s “possession” for as long as the partnership between the two projects is in place. The purpose of the investment from ApeCoin is to demonstrate their commitment to ThreeOH DAO and advocating for DeFi/web3 on a political level. The treasury manager has provided the following vesting schedule, to ensure that ApeCoin DAO feels that their investment is safe:
- 10,000 ApeCoin is distributed upon ApeCoin DAO approval of a Prioritization Council board member.
- 10,000 will be distributed to ThreeOh DAO every 20 days until the remaining 40,000 APE has been distributed. (3 months after the member is appointed).
- ThreeOh DAO will stake no less than 25% of the total APE for 6 months minimum.
- ThreeOh DAO will not sell in blocks higher than 500 APE per transaction
ThreeOH DAO currently offers a token on both the Ethereum mainnet and Binance Smart Chain, 3OH. Community members must hold 3OH to participate in any DAO votes. DAO voting is conducted via SnapShot. We utilize a 1 vote per wallet system to eliminate big money from influencing the votes. Given that we work closely with politics, we felt this was the most democratic voting system. We are currently building our own proprietary software to better fit the voting needs of our DAO. Our system has a KYC function to ensure someone isn’t creating 100 wallets with 1 token to vote 100 times. This will include different voting styles based on the proposal, i.e. treasury proposals have a different voting mechanism than legislative or donations oriented votes. However, for all major voting initiatives we will maintain a 1 vote per wallet system of voting.
For community discussion we are on Discord under ThreeOh DAO.
Steps to Implement
Upon proposal approval the two DAO’s leadership teams can meet to draw up an agreement on the Prioritization Council seat, and establish the next vote to nominate a candidate to serve on the Council as the ApeCoin DAO representative.
Our goal is to fill out the 3 appointed Prioritization Council seats by June 10th. Currently, 2 of the 3 are filled, with this remaining seat available to ApeCoin DAO. We will begin promotion of the remaining 6 seats following the final seat being filled. We plan on having all 9 seats filled by the end of June. Our goal is to have an impact on the ’22 midterm elections throughout the US. To do so, the Council will need to be installed and functioning at the start of Q3 (July) when election season will take on a local, regional, and national spotlight. If approved by ApeCoin DAO, distributions would begin after the initial DAO approval, and continue until fulfilled. The ApeCoin DAO chosen member would begin working with us immediately, and help the process of crafting our DAO priorities for discussion once the Council has been established (no later than the end of June).
50,000 APE distributed based on the vesting schedule:
10,000 upon approval to from ApeCoin DAO, and then 10000 distributed to the ThreeOh DAO treasury every 20 days until the full 50,000 APE has been distributed. In return, ApeCoin DAO establishes themselves as a premier defender of the DeFi space, and a leading voice for DeFi politics into the future.