AIP-553: ApeCoin DAO Reporting RESET

Does anyone here know how much money from ApeChain actually flows back to the DAO in this “REVAMP” proposal compared to the “RESET” proposal? It seems like a no-brainer to use ApeChain as a funding source for the DAO, right?

Here’s the context: there’s $100 million for the “banana bill,” millions more spent on building the chain, and additional millions going to individual projects. Now, 35% of the treasury is set to fund nine “self-elected” people in the “REVAMP” plan, which looks like it just covers their expenses. Is this the new “revamp” vision? No money going back to the DAO? What does the “RESET” plan do differently?

It’s starting to feel like ApeChain, one of the DAO’s biggest investments, is adding more centralized control but isn’t bringing in any revenue to keep the community going automatically.

Think about it: if ApeChain makes money, the DAO should thrive too. Then the DAO can keep funding APE projects, and everyone benefits. There’s no need for this 35% allocation or having Ape Foundation control the treasury with no accountability to the DAO.

As it stands, ApeChain isn’t actually funding the DAO at all.

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We have received feedback from the Special Council on the RESET AIP-553 and have been asked to remove any reference to the REVAMP idea from our proposal. We will therefore be amending AIP-553 to focus on the replacement of the 5 Special Council members with a 2 DAO Advocates that will perform the roles originally posted in our idea. We will continue to advocate for many of the changes that were contained in our revised proposal but felt that this was the best way forward at this time.

PROPOSAL NAME: ApeCoin DAO Governance RESET

TEAM DESCRIPTION:
@ErnestLee, ApeCoin DAO Community Member
@AaronHaber, ApeCoin DAO Community Member, Approved AIP Author
@Lanzer, ApeCoin DAO Community Member

PROPOSAL DESCRIPTION:
This AIP proposes sunsetting the 5-member Special Council and replacing those roles with 2 DAO Advocates that will provide transparency, treasury oversight and communication between the DAO, Delegations, AIP authors and the Ape Foundation.

  • The DAO Advocates shall consist of two elected members.
  • The initial DAO Advocates shall be Aaron Haber and Ernest Lee.
  • The DAO Advocates shall serve a two-year term.
  • The DAO Advocates shall have oversight authority for the Administrative Budget of the Foundation and the Banana Bill.
  • The DAO Advocates shall be afforded access to Ape Foundation meetings. The Advocates are not required to be granted speaking rights.
  • The DAO Advocates shall prepare and present the Ape Foundation Budget for approval by the DAO on an annual basis in December of each year.
  • The DAO Advocates shall participate in at least one weekly town hall meeting with the community.
  • The DAO Advocates shall be subject to a non-disclosure agreement prohibiting communication with the community only where doing so would cause the Foundation to be in breach of commercial agreements with 3rd parties.

Elections

The DAO Advocates shall consist of 2 members elected bi-annually. Initial DAO Advocates will be Ernest Lee and Aaron Haber. Ernest Lee shall serve an initial term of one-year. Aaron Haber shall serve an initial term of two years. Subsequently elected DAO Advocates shall serve a term of two years. DAO Advocates shall be eligible for reelection at the end of their term.

DAO Advocates may be removed by a vote of no confidence prior to the end of their term. Any community member or Delegation eligible to propose an AIP may propose to remove a DAO Advocate at any time by submitting an AIP to do so. Such AIP will pass, and such DAO Advocate shall be removed upon receiving at least 69% of the vote in favor of removal. In the event of removal or resignation of a DAO Advocate, such member shall be replaced by special election as soon as is practical.

All DAO Advocates are expected to serve their term until the election is complete and the new DAO Advocate is placed in office.

STEPS TO IMPLEMENT:

  1. Sunset Special Council
  2. Install DAO Advocates

OVERALL COST
Total Cost: $0.
The 5 Special Council members currently receive a total of $625,000 per year. Pursuant to this proposal, each of the 2 DAO Advocates will receive $125,000 per year resulting in a net savings of $375,000 annually.

3 Likes

I support! This position acts as the eyes and ears of the community at the highest level. Even though they don’t have the power to do anything except observe, a DAO Advocate can still be removed per DAO vote. A 2-year term gives them the time they need to do well.

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:white_check_mark: Kapow! Support the changes :+1:

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So this is a really good point to highlight rn.

So the bananas bill states 77.5%, or at least suggests that’s the maximum we could enjoy/will be there or thereabouts, I’ll drop the quote at the end. However, yesterday I see SC Mo suggesting we use these funds to forever fund apecoin only auto-staking/native-yield on apechain, will also link the tweet at the bottom.

So this is a big issue for me bc as you see form Lanzer and my back and forth above & my other supportive posts for the new ‘apechain, onchain…’ idea is that making apechain great will equal dao money, now if that’s not the case as they’re planning to rug us basically, then support changes.

I dunno what to believe lately tbh. Just remember that if we fund auto-staking/native yield the money only comes from one place - the 77.5% revenue that the DAO was promised in revenue from ApeChain. Also remember we allocated 175m $ape of the treasury to staking, and many argue this has done nothing except dump price.

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Hi ApeCoin DAO Community,

Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent.

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Kind Regards,

-@Facilitators

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This has gone through numerous iterations to accommodate feedback from Apes and all the politics surrounding the REVAMP AIP. I think we struck the right balance with this DAO Advocate one.

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It was definitely a collaborative effort between the three of us and the community.

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I’ve been mentioning oversight here for over two years now and there has just never been the appetite from the community to see it through. So I’m really glad you’ve found a way to propose in a way that the many can get behind and at a time when people are finally starting to realise the need for such a team. If you search oversight and check back on the idea from dec 2022, as maybe some good points to note (in the post & comments) for inclusion as this moves forward and hopefully passes. Thanks & GL.

3 Likes

Wow, I really appreciate your kind words, thank you. I developed the initial AIP draft a couple weeks ago, but @ernestlee & @AaronHaber deserve the credit for the rewrites. I think Ernest has met with half of all Apes at this point, he’s had so many feedback sessions :rofl::rofl::joy: I’ve just been offering little improvements and review of the rewrites along the way.

Things move fast here in ApeCoin DAO!

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Hi ApeCoin DAO Community,

Our team has reviewed and discussed @ernestlee’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

Hi ApeCoin DAO Community,

@ernestlee has responded to our questions and they are in our review once again.

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

Kind Regards,

-@Facilitators

Aaron and I are supporting Ernest as best we can to resolve the review. Looking forward to going to vote!

Hi ApeCoin DAO Community,

@ernestlee has responded to our questions and has provided consent to share them in this forum for the community.

Click to expand Q&A with @ernestlee

1. Please include a Benefit to ApeCoin Ecosystem section, as specified by the AIP Draft template: Explain how your proposal will benefit the ApeCoin ecosystem. If your AIP is requesting funding, explain in detail the benefit in relation to the amount of funding that you are requesting. This section would be visible to voters on Snapshot.

Transparency in the financial activities of the ApeCoin DAO is vital to informing the DAO members of the information necessary to make informed voting decisions. AIP-553 strengthens DAO governance by establishing clear mechanisms, enhancing decision-making processes, and fostering greater community trust. AIP-553 also promotes transparency and accountability, which are vital for sustaining long-term engagement. And lastly, AIP-553 encourages broader participation in DAO operations, making the ApeCoin ecosystem a model for decentralized governance.

2. Please revise your Team Members section, as specified by the AIP Draft Template and provide description for Lanzer. Include a brief “CV”, and previous experiences in Web2 &/or Web3.

Lanzer: Experienced professional with a background in Web2 and Web3 governance. Host of the SANDDAO Podcast and YouTube channel. With many years of experience, Lanzer brings valuable insight into decentralized operations and ecosystem management.

3. As required by the AIP Draft Template, please add the Reporting Expectations section. For this section, we recommend providing some guidance for the community to consider for reviewing the impact of this proposal in the future. I.E. “The expectation is that this proposal would be implemented by the DAO’s administrative team. The community should regularly review the impact of this proposal. If accepted, the administration and the community should review the impact of the updates after the 3-month period for conflict ends.”

After implementation, the community and administrative team should review the proposal’s impact after 3 months to evaluate its effectiveness. Metrics to consider include the number of proposals reviewed, community participation in governance, and feedback from DAO members.

4. At which point would this proposal be considered “fully implemented?”

The proposal will be fully implemented when:
a. DAO Advocates are elected and operational,
b. Governance processes outlined in AIP-553 are functioning, and
c. The initial 3-month review of the system’s performance has been completed.

5. Would there be any required qualifications for individuals applying for the role of DAO Advocate?

Applicants must meet the following qualifications:

a. Be an active member of the ApeCoinDAO Forum for at least 6 months.
b. Achieve at least Trust Level 2 on the DAO Forum.
c. Demonstrate verifiable historical experience and qualifications relevant to the role.
d. Publicly disclose their full name, first and last, to maintain transparency.

6. For the sake of clarity for the voters, we ask that you include a beginning and end date for the term of office for DAO Advocates. Do you consent for us to update your proposal to include a statement noting that Advocate terms of office would begin on January 1 and end on December 31 of their respective terms? This would mean elections would occur in December, rather than in January as stated in your AIP. If you have alternative dates in mind, please state them here.

Term Lengths as Defined in AIP-553. The first election will result in two members serving 2-year terms and one member serving a 1-year term, ensuring staggered elections for continuity. Subsequent elections will elect all members to 2-year terms. Elections will occur in December of each year with terms beginning on January 1 and ending on December 31 of their respective term lengths.

7. Please outline the expected election process in the event that fewer than three candidates apply to run for the DAO Advocate position.

If fewer than three candidates apply, the election proceeds, and any unfilled positions will be re-opened for applications within 60 days to ensure adequate representation and continuity.

8. “The DAO Advocates shall participate in at least one weekly town hall meeting with the community.” Please provide more detail regarding the format, platform, etc. of these proposed meetings.

Town hall meetings will be held weekly on platforms such as Discord or Twitter Spaces, with recordings or summaries shared in the ApeCoinDAO Forum. Meetings will include updates, moderated discussions, and Question and Answer session to ensure transparency.

9. “The DAO Advocates shall have oversight authority for the Administrative Budget of the Foundation and the Banana Bill. Such oversight authority is intended to be used only to gather the information necessary to report to the DAO Community.”
As the BANANA Bill program is a grant recipient of the DAO, the Foundation is not in the position to grant access or permissions to this budget. Please update your proposal accordingly.

DAO Advocates will assume the current remaining roles of the Special Counsel in regard to AIP-454; the Banana Bill.

10. Do you provide consent to apply updates to the relevant areas of your proposal based on your responses to the questions above?

Yes, we consent to the application of updates as outlined in our responses to ensure alignment with governance principles and clarity for the community.

11. Do you provide consent to share these questions and answers with the community in this forum?

No problem. Please feel free to post.

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,

-@Facilitators

3 Likes

Totally unnecessary to add.

Not gonna be any more scathing or make any insinuations.

As for Banana Bill oversight, Special Council currently has a significant role in administration and accountability for AIP-454; the Banana Bill. We do not feel that the voting DAO would want to eliminate all such oversight over the Banana Bill.

For example, the Banana Bill reads,

“Any proceeds generated from the commercial agreements will be redirected back into the overall budget for the programs so that this will become a reusable source of funding for supporting and growing ApeChain. Proceeds may come in various forms, such as tokens, revenue share (fiat or crypto), stock, or assets. Given that each of these will need to be dealt with on a case-by-case basis (e.g. what wallet would crypto revenue share be transferred to), the Special Council will determine for each Commercial Agreement how the proceeds will be returned to the Banana Program for continued use during the two year term, or returned to the ApeCoin DAO.”

"The Advisory Committee will oversee both programs, including providing endorsements for commercial agreements that will be subject to Special Council veto-authority. "

“The Program Facilitator and Strategic Accounts Manager will rely on additional team members and resources at their respective companies to perform all of their responsibilities as needed, staying within the Administrative Budget allocated above, with any changes subject to Special Council approval.”

“…no more than 73,000,000 APE may be allocated under the Commercial Agreements Initiative in total, unless the Special Council approves such adjustment”

“All funds allocated under the Banana Program must be affirmatively endorsed by a majority of the Advisory Committee (e.g. 3 of 5, 4 of 6 or 4 of 7) and must not be vetoed by the Special Council.”

We feel that theses decisions should be made by individuals elected by the DAO as contemplated in the Banana Bill and approved by the voting DAO.

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I was surprised when Ernest showed me the role of the SC in the Banana Bill. They have A LOT of involvement.

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Hi ApeCoin DAO Community,

Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent.

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Kind Regards,

-@Facilitators

I was just reviewing this today and I noticed that the Yuga Labs Foundation has 48.88M APE, which is not the APE Foundation. It is also not the funds listed as Charity, which I believe covers the Jane Goodall Foundation donation.

Anyone actually know what is the plan for the Yuga Labs Foundation? Anyone have any information about this?

Hi ApeCoin DAO Community,

Edits to include a Mandarin translation of this AIP have been made to this Topic, by the author, by the author’s request, or with the author’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