Hi @river
Great to connect again and thank you for the message
We are content with the feedback and look forward to proceeding with the AIP Draft process
Would you mind sending the AIP template again?
Thanks again!
Best
Brad
1 Like
This topic was automatically closed after 7 days. New replies are no longer allowed.
Thank you @ZastrowBradley for your ideas. A moderator will get in touch with the author to draft the AIP in the appropriate template. Once the AIP is drafted and meets all the DAO-approved guidelines, the proposal will be posted on Snapshot for live official voting at: Snapshot
Follow this Topic as further updates will be posted here in the comments. @ZastrowBradley please see your messages for the next steps.
- river
1 Like
Hi ApeCoin DAO Community,
@ZastrowBradley has completed editing their AIP Idea to be their AIP Draft.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
- river
3 Likes
Hi ApeCoin DAO Community,
Our team has reviewed and discussed @ZastrowBradley’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,
-river
1 Like
Hi ApeCoin DAO Community
Answers have been provided back to River and the ApeCoin team
Warm Regards
Bradley
5 Likes
Hi ApeCoin DAO Community,
@ZastrowBradley 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,
-river
2 Likes
Not sure why this proposal didn’t receive replies by other members before but as I still see it open here’s my quick comments:
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APE use: I don’t see an incentive to use APE as way of transacting because the fee is set at 1% regardless of coin used. To incentivise APE utility, this should have a lower fee than other coins.
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rewards: I don’t see why we need rewards for an apecoin mkt and especially I don’t see why the DAO should spend money on that. People should use the mkt because has lower fees, has functionality, for sense of apecoin membership and self interest (burning ape). If this will not happen, not DAO’s problem.
Good idea for the APE burning. About the monthly grant, probably to align incentives and lower possibility to waste resources, I would have prefer lower grant and a %fee (not APE) going to mkt.
1 Like
Cheers mate for asking the above - below is our views/rationale:
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APE use: Our goal is to benefit the APE ecosystem. While there is not a discount for APE transactions - every transaction (regardless of token used) in our proposal benefits the APE ecosystem. This is because 100% of the market fees are burned in APE. If the sale wasn’t in APE then it will be first bought on the open market then burned.
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Rewards: We believe that rewards are critical to kickstarting any marketplace. For the marketplace to succeed it needs inventory and liquidity - which is the goal of the reward program. We do not believe a discount by itself will achieve this, as evidenced by OpenSea. If fees were the primary driver, OS would have lost a lot more business to LR and X2Y2 than they did.
1 Like
Hi! I have two quick questions:
-
For the part where it says “the marketplace will help lower the supply of APE by burning 100% of all marketplace fees collected” would it make sense to change “lower the supply” to “lower the circulated supply”? I understand it’s going to a burn address (which acts like a real burn) but the actual supply is remaining the same while the circulating supply is reduced. Might clear up some confusion I saw some having around this.
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Can you provide more details about what the “monthly fee of 12,500 APE for a 6 month term” includes? I might have missed this explanation in another thread so sorry if it has already been explained.
Thanks!
2 Likes
Thank you for asking the above! To answer your questions:
Question # 1) APE burn: As a quick point of clarification, we are doing a real burn. Burning a token is the act of permanently reducing the circulating supply of a token. This is a standard industry term and the most common way to burn tokens is by sending tokens to a burn address, which is what we are doing. I’ve also included a few links on the topic speaking to the definition of burning in more detail:
Question # 2) Monthly Fee: Instead of the project keeping a % of the marketplace fees as compensation, we elected to take a flat fee. As with other proposals, this pays for the same - website build (past tense as we already built it, apecoin.x.xyz), support, maintenance, ongoing development, etc… We elected for a 6 month term, because we believe any marketplace proposal should prove itself for a defined period to the DAO before receiving an evergreen relationship. We are required to continually “prove” ourselves to the community or risk losing a renewal opportunity down the road. This is a de-risk measure for the DAO.
3 Likes
Hi ApeCoin DAO Community,
We have sent a list of follow up questions. We await answers.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Pearson
1 Like
Hi ApeCoin DAO Community
There were 2 new questions from the team which we have just sent through answers.
We await timelines and next steps
Kind Regards
1 Like
Hi ApeCoin DAO Community,
@ZastrowBradley 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,
-Pearson
2 Likes
Hi ApeCoin DAO Community,
We have sent a follow up question to the author
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
- river
3 Likes
Hi ApeCoin DAO Community,
We have provided our answer to the received question.
Kind Regards,
Bradley
2 Likes
Hi ApeCoin DAO Community,
@ZastrowBradley has responded to our question and they are in our review once again.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-river
1 Like
Hi ApeCoin DAO Community,
This proposal is live for Snapshot vote at Snapshot. The voting period closes next Wednesday at 9PM ET.
The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.
-moonkt
1 Like
Hi ApeCoin DAO Community,
The voting has closed for this proposal and it has not been accepted.
This Topic will be moved to and remain in the Reject AIPs subcategory.
-moonkt
2 Likes