BAKC Claim Restrictions

Why was the decision made to restrict BAKC tokens from claiming $APE unless the claim function is called 1:1 with a MAYC or BAYC that also has unclaimed tokens?

With how many holders have had BAYC and MAYC with no BAKC paired with them, this restriction has doomed a great deal of $APE to be unclaimable.

I personally see no advantage, other than reducing the supply of $APE coin from the original allocation that will actually make it into the hands of the community members who hold the NFTs.

Why shouldn’t we make an AIP that makes all BAKC $APE claimable?

Perhaps a middleground is each BAYC or MAYC can only be used to claim from a BAKC once, but the BAYC or MAYC need not be in an unclaimed $APE state.

2 Likes

BAKC was meant to be a companion when it was released. It isn’t meant for any sort of membership and therefore a lot of holders feel it is only fair that they are required to be paired to have most benefits. Your middle ground idea is interesting though and I would be curious to see the feedback on that. I do think it would have to be a new claim created which is a bit tricky because the contract for airdrop claiming is kind of already set in stone.

3 Likes

As explained by @NFTBeliever , making BAKC claim unrestricted would definitely lead to holders inmediately dumping $APE after claiming. I think it was an excellente decision to pair to claim.

5 Likes

Right so I do understand that the BAKC are not intended to get club access and $APE is only supposed to go the club members. I don’t really see what you’re saying about people just claiming off a dog and dumping it. If one didn’t already have the BAKC the market has priced in the unclaimed $APE reasonably efficiently. Which is to say currently buying a BAKC with unclaimed $APE is a breakeven play if you try to dump the $APE and BAKC.

Having said that I still see no reason why such a large allocation of coins to BAKC was set up to be unclaimable. I see how needing an unclaimed BAYC/MAYC to claim from an unclaimed BAKC prevents a single BAYC or MAYC holder from rotating through BAKC after BAKC and claiming tons of tokens, leading to a poor distribution of token.

My proposal still eliminates the possibility that a single BAYC/MAYC can be used to claim from as many BAKC as they want. So the only difference between the existing set up and the proposed one is that you don’t have to claim your BAKC and BAYC or MAYC paired 1:1 at the same time. You still have to have pair 1:1 your ape with a dog.

Currently people are incentivized to do unsafe things like send their BAKC to another person to claim form them and trust them not to steal. Or even scarier, send their BAYC/MAYC to another person to claim for them, or fall prey to a scam contract that was supposedly going to claim tokens for them safely.

1 Like

This topic was automatically closed 30 days after the last reply. New replies are no longer allowed.