ApeCoin Good Deeds

Abstract

We theorize that a good way to raise awareness, build support and grow our community is through acts of kindness that provide much needed volunteer hours to non-profit organizations. ApeCoin Good Deeds is a proposal to bootstrap community adoption by devising an economic engine that recognizes local community engagement on a global scale.

We have an early DRAFT whitepaper located at: DRAFT - ApeCoin Good Deeds WhitePaper - Google Docs

Please note, I am submitting this AIP simply as an idea. If someone would like to run with this project, I would be happy to assist but ultimately do not have the resources to turn this idea into a reality. A person with a lot of experience in the Non-Profit sector would be well suited to maximize this idea’s effectiveness.

Motivation

ApeCoin Good Deeds started off as a project in a small local non-profit, Code(Cayman) to demonstrate how a community of volunteers and Non-Proft Organizations can develop an economic engine centered around Web3 economies. The project is used as a theoretical framework within the Blockchain.Code(Cayman) program and has never been operationalized. The Code(Cayman) organization does not have the resources to realize this project but freely contributes the idea to the wider ApeCoin community as either a thought piece or something to actualize.

Code(Cayman) is a small registered non-profit organization in the Cayman Islands that provides free introduction to technology classes and is completely reliant on volunteers who commit their time and expertise. Our core value is to provide a non-intimidating, accessible and equitable learning opportunity to anyone who is interested, but is especially focused on providing support for our youth. In our Youth.Code(Cayman) project, we provide every participant with a free Raspberry PI to allow them the freedom to explore a computer without any limitations or worries.

You can learn more about Code(Cayman) at:

Rationale

We have seen that a good way to build momentum for a project is through direct community engagement. Because the ApeCoin DAO is a global, decentralized community, we thought this could be a good way to develop localized grass root support at a global scale. Code(Cayman) considers this idea as a completely open source, transparent project well positioned for a broader community to consider and lead.

Key Terms

ICT - Information Communication Technology

Specifications

Most of the work for this project would be operational and dependent on creative well intentioned people to bring to life. Therefore, it is probable that most of the funding for a project of this sort would be dedicated to staffing budgets.

Of course, living in the 21st century and working in Web3, there would be a bit of software development. At a high level (and subject to the communities thoughts) this would include:

  • Obviously a website to provide a single place that correlates the messaging (maybe hosted on GitHub pages and open sourced for community pull requests)
  • A dashboard to track pseudo-anonymous accounts that receive ApeCoin for their volunteered time or “Good Deeds”
  • A dashboard to track “Qualified NPOs” and the work our community is helping them accomplish
  • A CRM system to onboard new NPOs, keep track of their details and monitor their status
  • A bot that hooks into Social Media API’s looking for hash tags (i.e #ApeCoinGoodDeeds) to provide the community an opportunity to reward individual acts of kindness, see the all the local good work being done and raise awareness for the project

Steps to Implement

Phase 1 (approximately 2-4 months):

High level steps:

  • Establish a Foundation to operate the organization
  • Define what a “Qualified NPO” means, this would be an important step so interested organizations have a clear understanding of their ability to participate
  • Setup mail server, web servers, domains (basically ICT infrastructure)
  • Take custody of phase one of funding

Funding in phase 1 could be estimated to range between US$52,000 - US$95,000

  • Entity formation: US$2,000 - US$5,000
  • Legal fees: helping define “Qualified NPO” and other constitutional documents: US$30,000 - US$60,000
  • Other (ICT and miscellaneous, i.e. logo, brand development?) US$20,000 - US$30,000

Phase 2 (approximately 4-6 months):

High level steps:

  • Conduct public search for Board of Directors
  • Post Job ads, conduct employee interviews, hire staff
  • Establish and submit KPIs and milestones to the ApeCoin DAO for review and consideration
  • Develop a marketing campaign
  • Take custody of phase two of funding

Funding in phase 2 could be estimated to range between US$530,000 - US$1,000,000

  • Further legal fees: Iteration of constitutional documents, review of global employment ramifications, other jurisdictional dependent considerations: US$30,000 - US$60,000
  • Recruiter engagement (generally 15%-20%) of employee candidate compensation (It is probable that recruiters are not needed since the ApeCoin community probably has capable and interested pool of qualified candidates to build upon)
  • Employee Salaries: A 1 year commitment is probably between US$500,000 - US$1,000,000. This scale would obviously be dependent on when employees are hired, the agreed salary, experience and qualifications

Phase 3 (approximately 5-8 months):

High level steps:

  • Employees develop an onboarding process for Qualified NPOs
  • Develop software outlined in Specifications
  • Develop operational business model (how is this going to be sustainable long term)
  • Further refine operational expenses (salaries, legal, infrastructure, and report back to ApeCoin DAO
  • Begin marketing campaign and start developing go to market strategy

TBD: Funding in phase 3 would be pretty dependent on the outcome and successful completion of phase 2.

Note: that since most funding is committed to salaries, phase 3 funding could be minimal or mostly dedicated to marketing

Phase 4 (timing TBD):

High level steps:

  • Publicly launch, operate the organization, onboard NPos, analyze public data, conduct market research, publish trends
  • Fund a ApeCoin Good Deeds pool, let’s say 1 Million $APE (this is a random number but the pool should be big enough to incentivize NPO’s to allocate resources and volunteers to join)

TBD: Funding in phase 4 would be pretty dependent on the outcome and successful completion of phase 3

Note: that since most funding is committed to salaries, phase 4 funding could be minimal or mostly dedicated to the launch strategy and funding the ApeCoin Good Deed Incentive Pool

Timeline

TIming has been included in the phases above. Please note that these are currently estimates and further project building would be required to develop an accurate timeline. Since this would be a global initiative, a lot of time and consideration would be dedicated to ensuring that this idea is legally compliant in different jurisdictions, or we could limit scope and focus on a few high value regions to start with.

Furthermore, a significant amount of time could be consumed by establishing the founding team, outlining the baseline roles and responsibilities, conducting interviews and entering into contractual employment agreements.

Overall Cost

Please see the funding note on each phase.

It would probably make financial sense to make funding available in batches and dependent on successfully progressing the project to the next phase. The DAO could either commit a total funding goal (i.e. we will deploy a total funding of $1M dollars but it would not be transferred until the start of each phase, i.e. phase 1: 100K, phase 2: 200K, phase 3: 300K phase 4: 400K) which could influence the ApeCoin Good Deeds incentive to be capital efficient or put each phase of funding up for another vote, which could slow progress but increase accountability and communication.

To reiterate, I will not be able to push this project into an AIP draft as I do not have the capacity to properly operate the initiative. I would be happy to work with anyone that would be interested in taking this to the next step.

I read the whitepaper and I think this is excellent. One of the first ideas I discussed on this forum was about charitible organizations and getting some bigger/famous names on board to help endorse such activitiea. For example, I am a structural engineer; Partner bounties for a new school to be built in a specific location (maybe they have a screening to see who might apply and determine who’s community needs a new school the most), I was just up doing a site visit in Toksook Bay Alaska, and thay community needs a new school in a significant way. Based on your idea,(if I understand it correctly), some Partner NPO, could bring this to the attention of ApeCoin Good Deeds, and propose they would like to fund it. Apecoin Good Deeds would post a bounty for such xyz deliverable, and I could raise my hand and say, I can do that for Ape coin at 40% usually fee equivalent…based on how many people raised their hands, ApeCoin Good Deeds would contract with that individual/orgamization (maybe me) to basically work for an ApeCoin equivalent, the sponsor/Partner would get the NPO credit and ephemeral credit, the ApeCoin would get exposure, and the worker/volunteer would get some form of compensation in apecoin or in deductible write offs. This makes good business sense to me and it is truely charitible and it is effecting real flesh and bone people in a positive way. Maybe you can explain if I misunderstood the concept?

1 Like

@Mifune that is definitely one way this could be applied. Mostly I was thinking there could be three actors in this framework.

  1. NPO
  2. Volunteers
  3. Businesses

An NPO would allocate Volunteers with ApeCoin as a symbol of their commitment of time spent. This allocation could serve as onchain proof that a Volunteer dedicated their personal time (the most important resource an NPO needs is people’s time) to help achieve the NPO’s mission. Since NPO’s generally serve geographic communities, we can further work with Businesses in physical proximity of the Volunteers to provide their goods or services in return for the ApeCoin. This would demonstrate the local Businesses are also supporting the NPOs by providing further benefit to the Volunteers which is proven by the onchain control of the ApeCoin. Finally, businesses can donate the ApeCoin back to the NPO (if they wish) to complete the cycle of continual Good Deeds.

In your example above, a possible scenario would be, a school development NPO in Alaska could apply to the ApeCoin Good Deeds committee to be a recognised NPO (subject to the proper due diligence). The ApeCoin Good Deeds ecosystem could allocate a number of ApeCoin to the NPO, who would then distribute the ApeCoin to their volunteers that build the school. The local businesses could then verify who the volunteers are building the school via Public Key and offer goods / services to those extradorinaiy Volunteers.

2 Likes

There does not seem to be much appetite for this idea, if no one wants to move forward with it, I will withdraw or move it to general

1 Like

Hey @bc this is a really really good idea and the timing couldn’t be better. Depth of character Brand enhancing. Also, investor are increasingly looking at these factors ESG (Environmental, Social, and Governance) to identify investment opportunities.
This subject is near and dear to me, since it is my doctoral thesis. My research (pre-Covid) found the following stumbling blocks:

  1. How to identify local needs and vet volunteers
    2 Price of coin volatility causing uncertainty in its value
  2. NPO Funding: admin., tracking and gas fees

Workarounds:

  1. Work with established 501C (US) national service organizations that has hundreds of regional and local chapters who are already vetting local needs and volunteers.
  • Work with the local presence of national organization that are totally dependent on volunteers. I have already identified and have had preliminary discussions on the use and benefits of using a coin/token to incentivize and reward volunteers. Their responses were positive.
  1. Coin Price Volatility: Tie the value of a coin to a percentage discount rather than a fixed dollar amount. I have already identified a dozen large corporations that could potentially be offering these discounts.
  2. Funding Grants from APECoin DAO

My dream is that one day, a poor kid can get into the educational institution of their choice based on his/her Good Deeds.
I’m going to be like Guy Oseary and nominate myself to make Good Deeds coin a reality.

3 Likes

If we want to really improve the world, we need to choose just one great cause and to focus all our efforts on its implementation. For example to collect funds to buy rights for somepharma or a patent and make it open source for everyone.

Hi @culturecodes.art

Fair enough. I would just say that my intention for this AIP was not to “improve the world” as a measurable goal, that would be a bit too subjective (an improved world according to one definition might be different from someone in another part of the world, who may wish for easier access to food) and probably outside the scope of our addressable resources.

My intention when staying this was two fold

  1. Expand the ApeCoin ecosystem through distribution via thousands of volunteers world’s wide while creating brand good will
    2.have some fun doing small acts of random kindness
1 Like

@GridZe happy to work with you on this, if you would like to schedule a call, please dm me

1 Like

Work with IRL Community Foundations, set-up the Web3 equivalent of a Donor Advised Fund (MVP), and keep the mission narrow and brand aligned.

Hi @bc,

Your topic will be automatically closing in less than 24 hours. Are you content with the feedback received, or do you wish to extend community discussion for a further 7 days?

We look forward to hearing from you.

-Pearson

This topic was automatically closed after 7 days. New replies are no longer allowed.

Thank you @bc 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 this Topic as further updates will be posted here in the comments. @bc please see your messages for the next steps.

-Pearson