I’ve recently observed various discussions on how to allocate $APE LM rewards. I’d like to introduce a different perspective: Bayc/Mayc/Bakc & $APE staking, as opposed to the conventional method of distributing $APE to holders. In my view, compensating stakers is superior to compensating holders, as stakers actively contribute value to the network. To achieve this, we undoubtedly need to establish our own #ApeChain.
While this is a separate discussion, our proprietary Layer 2 ApeChain could offer a multitude of advantages, including faster and more cost-effective transactions in the burgeoning Yuga gaming sector. Pairing this with the value proposition for Bayc/Mayc/Bakc & $APE stakers seems like the perfect synergy.
Having been deeply immersed in DeFi for several years, I’ve encountered various structures. Personally, I favor L2 solutions on Ethereum, such as Polygon/Arbitrum/Optimism. If we could implement our own L2 solution with #ApeChain, it could bring numerous benefits to NFT + $APE holders.
-$APE stakers would be rewarded for securing the network and validating transactions, mirroring the compensation model for $MATIC/$ETH stakers.
-Staking BAYC/MAYC/BAKC NFTs would be equivalent to staking a predetermined amount of $APE. For instance, the current value of 1x floor BAYC is 53,000 $APE. Staking this APE would generate the same revenue as staking 53,000 $APE, as you’d use your NFT to validate transactions and fortify the network. This ratio could be adjusted on a weekly/monthly basis, depending on the NFT to $APE price ratio.
In summary, I believe the optimal direction for $APE is not solely as a DAO token but as a ‘gas’ and ‘staking’ token, akin to MATIC and ETH. Survey the top 20 cryptos and observe how many are exclusively DAO tokens versus ‘gas’ tokens (BNB/SOL/ADA/MATIC/AVAX). We can combine these 2 with #ApeChain.
While this concept is in its early stages and requires further brainstorming to evolve into a polished product and proposal, I firmly believe that, collectively, we can transform this idea into a reality. Let’s engage in a constructive discussion below to refine and shape this vision collaboratively.
Let’s make $APE great again. We have the potential to ascend as the premier L2 on Ethereum. We can achieve this together. #Apestogetherstrong.