PROPOSAL CATEGORY: Ecosystem Fund
@Waabam, Co-Author, ApeCoin Special Council
@CapetainTrippy, Co-Author, ApeCoin Special Council
@Gerry, Co-Author, ApeCoin Special Council
ApeCoin Ecosystem Development Lead: The Ape Foundation will hire a third party recruitment agency to find the best candidate to work as Ecosystem Development lead.
This AIP would create a Development Program for ApeCoin-integrated projects (games, experiences, entertainment and consumer applications) and ApeChain public goods (middleware, marketplaces, SaaS and necessary infrastructure).
The Development Program would be initially funded by the ApeCoin DAO with$3m USD in $APE.
The Development Program would be administered by an Ecosystem Development Lead, whose services will be retained by the Ape Foundation.
The Ecosystem Development Lead will be responsible for sourcing new ApeCoin-integrated projects, reviewing applications for grants from the Development Program, administering such grants, developing new opportunities for the ApeCoin ecosystem, and liaising between Polygon Labs, ApeCoin DAO and any affiliates building within the ApeCoin ecosystem and ApeChain protocol.
BENEFIT TO APECOIN ECOSYSTEM:
Polygon Labs has announced its intention to build ApeChain, a zk-Powered Polygon Layer-2. The purpose of ApeChain is to increase the scalability of ApeCoin, and to accelerate the growth and development of the ApeCoin ecosystem.
In order to stimulate the growth of the ApeCoin ecosystem, a Development Program is needed to bootstrap ApeCoin-integrated projects (games, experiences, entertainment and consumer applications) and ApeChain public goods (middleware, marketplaces, SaaS and necessary infrastructure).
This proposal directly benefits the ApeCoin ecosystem by creating a Development Program which will provide grants to projects that are dedicated to building with ApeCoin, and ApeChain public goods.
ApeCoin’s vision is to be the decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse. This AIP directly aligns with this vision, by bootstrapping the development of projects which incorporate ApeCoin, and the ApeChain public goods that are building out the ApeChain protocol.
STEPS TO IMPLEMENT & TIMELINE:
December 1, 2023: ApeCoin Ecosystem Development Lead Hiring starts.
The ApeCoin Foundation initiates the Development Program and commences the hiring initiative for the Ecosystem Development Lead, utilizing a third-party recruitment agency to manage applications, interviews, and selection processes transparently and impartially. The recruitment agency shall seek a candidate with proficiency in web3, sales, and ecosystem development to fulfill the role effectively.
Once hired, the Ecosystem Development Lead will commence their role, and shall develop an ecosystem growth strategy for deploying the funds, working closely with Polygon Labs and other stakeholders within the ApeCoin ecosystem. The Ecosystem Development Lead will employ extensive use of Key Performance Indicators (KPIs) when assessing grants, with custom KPIs developed depending on the type of grant being considered. The Ecosystem Development Lead will work closely with Polygon Labs to source leads and development opportunities for the ApeCoin ecosystem.
Grant Applications will be reviewed by a Grants Committee consisting of the Ecosystem Development Lead, 2 Special Council members, and 2 community members. Final decisions on grant applications will be decided by majority vote of the Grants Committee.
The Ape Foundation shall allocate $3,000,000 $USD in $APE to the Development Program for grants.
The Ecosystem Development Lead shall serve the community in this role for a period of two years. Their annual compensation will be 125k USD, paid monthly, with a $50k USD in $APE annual bonus as determined by the $APE price on December 1, 2023 for the first year’s bonus, which shall vest on December 1, 2024,and as determined by the $APE price on December 1, 2024 for the second year’s bonus, which shall vest on December 1, 2025.
$3,350,000 USD total, including:
$3,000,000 USD for the establishment of an ApeCoin Development Program;
$125,000 USD annually for 2 years for compensation for the ApeCoin Ecosystem Development Lead;
$50,000 USD in $APE for 2 years as an annual bonus for the Ecosystem Development Lead, calculated using the price of $APE on December 1 of each year and subject to a 1-year lockup, vesting on December 1 of the following year.