APEs need BRAKES!

APEs need BRAKES!

TEAM DESCRIPTION:

The entire ApeCoin Community

PROPOSAL DESCRIPTION:

Based on current spend rate the DAO has about 12- 18months of unallocated reserves before it is empty. The track record to date on grant approvals has not demonstrated any sustainable return on investment to the DAO.

This situation is not tenable for any members of the community unless the intention is to close down the DAO once funds are depleted.

This proposal is to add an emergency brake when unallocated reserves drop to a 40million ApeCoin threshold. If this threshold is breached no AIPs will be put to vote unless the existence of, and orderly management of, the DAO is compromised if the AIP is not voted on. For simplicity, the decision regarding an AIPs eligibility against this condition will be taken by the Ape Foundation.

Should the threshold be breached, no resubmissions will be allowed.

When the threshold is close to being crossed, the number of AIPs put to vote (n) will be limited such that n-1 AIPs passing will not exceed the threshold but all AIP passing will exceed the threshold.

Should previously allocated funds become available again, AIPs may be voted on, only if the total unallocated funds exceeds 40m coins.

AIPs costing zero will not be subject to this threshold and may be put to vote as normal.

BENEFIT TO APECOIN ECOSYSTEM:

  1. protects the long term operation and existence of the DAO
  2. demonstrates that this community can manage its finances in a sensible manner.
  3. acts as a catalyst to change in voting. We need to get more selective, not all good ideas should go through. This additional constraint on spending will bring more focus on cost/benefits.
  4. forces community conversation and vote before any further spending below the threshold, and thus, potential depletion of the DAO treasury.

DEFINITIONS

No special definition used

STEPS TO IMPLEMENT:

Threshold commences on the date of this AIP passing.

REPORTING EXPECTATIONS:

Foundation to report unallocated funds on a quarterly basis with special notifications when the unallocated reserves reach 80m, 70m, 60m and 50m ApeCoin. (If they haven’t already!)

OVERALL COST:

Total amount requested from the ApeCoin Ecosystem Fund = zero

The total cost to the community of not doing this is the risk to the DAOs future existence.

Irrespective of the outcome of this, I would suggest the community starts focusses on AIPs that maintain the long terms sustainability of the DAO and ability to sustainably offer Grants to the next generation of Apes. The DAOs fate is in your hands.
Thank you for listening.

COMMUNITY COMMENT RESPONSES:

Here I will record additional notes based on community comments.

The DAO was originally a grant dao and has been effective in that task; however, the growth and responsibilities of the DAO have broadened. We have IP, licensing and ApeChain that require a fully functioning DAO. Failure to preserve funds for the operation of the DAO would be catastrophic. As such, the Treasury can no longer be, just for grants.

This AIP is a small step in the creation of responsible treasury management. Other AIPs regarding process and management will and are being proposed. This AIP does not hinder or prevent any other management systems from being put in place.

This AIP acts like a brake, it can be removed at a later date through another AIP. However, this AIP forces community conversation and then a separate vote prior to further spending below the set threshold. For me, this is a reasonable action to put in place to ensure that the fate of the DAO is a decision we take together.

I am all for responsible treasury management and am generally supportive of movements in this direction.

However, as a GRANTS DAO, I don’t believe that stopping GRANTS should be the first move to do this.

There is already an AIP in place to disband WGs (which will reduce expenses).

There is talk of an upcoming AIP to do the same with the SC (will similarly reduce expenses).

I would propose we pursue alternatives such as finding a more responsible way to manage the treasury rather than leaving it in Coinbase to languish at exorbitant fees before we propose stopping all funding to builders in the ecosystem.

3 Likes

Hi VonFrontin, Thank you for your comments.

2 Likes

Maybe held people accountable for the AIPs that passed and have asked millions of $ and get an update. Most of the funds have gone to the salaries and proposals that had no ROI.

2 Likes

Hi Evil, Thanks for the thoughts.

1 Like

Disband and rebuild!

Hi @Manakel,

The community feedback period for your proposal would be ending in less than 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.

  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.

  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

Hi Chris,

Please extend the community discussion for 7days

1 Like

Hi ApeCoin DAO Community,

@Manakel has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 7 days from now. We encourage the community to continue to engage in thoughtful discussions through constructive criticism, honest feedback, and helpful suggestions.

Follow this Topic as further updates will be posted here in the comments.

-@Facilitators

1 Like

Hi @Manakel,

The community feedback period for your proposal would be ending in roughly 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.

  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.

  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

Hi Chris,

Happy to proceed to the next stage

This topic was automatically closed after 14 days. New replies are no longer allowed.

Hi @Manakel,

Thank you for your ideas [and the ApeCoin DAO community for the insightful discussions].

A moderator will reach out to the author to finalize the AIP Draft using the appropriate template.

  • Once the AIP Draft is confirmed by the author and meets all DAO-approved guidelines, it will receive an AIP ID number and move forward for Draft Analysis Review.
  • @Manakel please see your messages for the next steps.

Follow this Topic as further updates will be posted here in the comments. In accordance with DAO-approved guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.

-@Facilitators

Hi ApeCoin DAO Community,

The AIP Draft submitted is currently incomplete and feedback has been provided to the author.

Follow this Topic as further updates will be posted here in the comments.

Thank you,

-@Facilitators

Hi ApeCoin DAO Community,

This Topic has been rejected based on the DAO-approved guidelines due to no response in the last 30 days. The Topic may be submitted again by any user and upon approval, will be open for 7 days for community discussions.

This Topic will move and remain in the Withdrawn AIPs category.

-@Facilitators