Cheetah Gang DAO is building a sub-DAO to Ape DAO. It is a fractionalized BAYC Cheetah Ape Set. Since it is fractionalized, we are not able to claim the $APE that would have gone the DAO members, so we are proposing to airdrop cheetahgangdao.eth (DAO wallet) 69% of the 14,178 unclaimed Tokens.
Cheetah Gang DAO was one of the early, primitive “unofficial” BAYC ecosystem DAOs. It gave access to people that wanted exposure to BAYC & MAYC ownership but were priced out. Now, we hope to build ties and integrate into the larger Ape DAO (similar to how shark DAO does for Nouns DAO) by fortifying the Cheetah Gang Community with this potential airdrop.
Rationale
There is culture and there is sub-culture. Cheetah Gang emerged from in the early days of the BAYC community. It was Cheetah Gang and DMT wars that forged stronger friendships in the community.
Steps to Implement
Since the apes in the fractional cheetah gang vault can still be bought out and have the tokens claimed. This proposal can be approved within the 90-day claiming window. However, it will only be executed after the 90-day period if this fractional cheetah gang vault still exist: Cheetah Gang
After the 90-day period, the tokens that would have gone to the holders of BAYC #5074 and its mutants would instead be routed to the Ape Foundation.
If the cheetah gang vault is bought out through a bid within the 90 day period, then this AIP will be voided, approved or not.
But, in the event that the Ape Foundation receives the coins pre-destined for Cheetah Gang and this proposal passes. The following will happen:
Ape Foundation receives 14,178 $APE
Ape Foundations sends 9,783 $APE (approx. 69%) to cheetahgangdao.eth (gnosis multi-sig)
Timeline
Ape claiming ends in approximately 70 days from this initial post.
Here is the proposed timeline:
Discussion and community voting - Now
Opening of voting window - Within 62 days of the posting of this AIP-Idea
Close of voting window - Within 69 days from the posting of this AIP-Idea
Ape Foundation receives unclaimed $APE - after 90 day claiming period
cheetahgangdao.eth $APE airdrop - after the 90 day claiming period
I like the idea. But i dont think it’s technically possible while the original nft is still fractionalized. So maybe i would try to get the owners of each share to temporarily return whatvthey own to whoever the leader or owner of the nft is, so that 100% of the $APE can be claimed then get the shares again. I know its a lengthy process but the extra 31% of $APE could be used to cover some of the costs. Just a suggestion
GM circuit! Thanks for the idea, but this alternative is not technically possible. 30% of the supply is effectively burned. However, it is possible to have the ape coin sent to the Sub-DAO’s wallet if this prop passes. Otherwise the Ape will just remain Ape Foundation. The foundation was established to act on the DAO’s behalf. This includes using $APE for ecosystem project funding. Additionally, the ape will only be sent to cheetahgangdao.eth if the AIP passes and the fractional vault is not bought out before the claiming period.
I have no problem with the idea in itself although I think there are far more important matters at hand within the DAO. How would doing this for cheetah gang benefit the Ape Coin DAO as a whole, while the foundation was established to act on the DAO’s behalf, DAO guidelines are there to ensure that all proposals integrate the APE Foundation and aim to make it central to the culture that we are creating, if a proposal does not accomplish this it is my opinion that it violates DAO guidelines.
Is there a way to align the interests of the DAO with that of cheetah gang?
Hey, these are some good points! There are some more important issues such as the staking issue, sure. But this AIP is also time sensitive due to the claiming window. I do believe that the Cheetah Gang DAO is already aligned with the Ape DAO. In order to buy $CHEETAH (fractional ownership of BAYC 5074) you can only swap with $APE or $ETH. Additionally, we have a discord where we discuss issues at a sub-DAO level then vote on our snapshot on who to delegate our Ape DAO votes to and that individual then votes on our behalf. The purpose of this is to acquire $APE as one to be able to have a stronger vote on issues. This AIP is not taking away an extra $APE that wouldn’t have been claimable durning the 90 day window.
Some solid points here, You have me convinced that this would be worth it in this scenario, I appreciate the cheetah gangs continued involvement in the processes here and hope to see your opinions on other matters as well.
Thank you @gcowboy for your ideas and the ApeCoin DAO community for the thoughtful discussions. 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 the here as further updates will be posted here in the comments. @gcowboy please see your messages for the next steps.
