$APE Holding Minimum for Grant Requests

[bigbull]

This relates to your question or concerns:

@bigbull

Q11. How to solve the problem of large holders or delegations extracting funds from aligned parties?
A11. A veto wallet could be added that can only vote no and not yes to a proposal.

Here is an example for a veto wallet by ENS.

The veto wallet (veto.ensdao.eth) in the ENS DAO serves as a security measure to protect against potential governance attacks. Its key functions are:

1. It holds 3.8 million delegated ENS tokens that can only vote “Against” proposals[1][4].
2. This increases the total delegated market cap, making it more difficult for an attacker to gain control of the DAO through token purchases[4].
3. It acts as a short-term solution to prevent malicious proposals from draining the DAO’s treasury[2].
4. The veto power is controlled by a multisig of trusted individuals who have pledged to use it only in case of attacks or to protect the DAO’s constitution[1][4].
5. It provides a mechanism to cancel potentially harmful proposals during the 48-hour timelock period before execution[4].

This veto function was implemented in response to research showing that the ENS DAO was vulnerable to attacks due to its low percentage of delegated tokens compared to its treasury value[4]. While it introduces some centralization, it’s designed as a temporary measure until more robust governance mechanisms can be implemented[1][2].