Empowering ApeChain: Requiring Bridged $APE for Voting Power

ROUGH DRAFT. JUST WANT TO START THE CONVERSATION.

PROPOSAL NAME:
Empowering ApeChain: Requiring Bridged $APE for Voting Power

TEAM DESCRIPTION:
Author: BojangleGuy

PROPOSAL DESCRIPTION:
This proposal suggests that, for $APE holders to retain voting power within ApeCoin DAO, they must bridge their $APE tokens from Ethereum (ETH) to ApeChain. This initiative will encourage active community participation in ApeChain, enhance its total value locked (TVL), and reinforce ApeCoin’s commitment to its native blockchain ecosystem. With more $APE directly secured within ApeChain, this proposal aims to create a stronger alignment between the ApeCoin DAO’s decisions and ApeChain’s long-term growth.

BENEFIT TO APECOIN ECOSYSTEM:
Bridging $APE to ApeChain will have multiple benefits for the ApeCoin ecosystem:

  • Increased TVL on ApeChain: Raising the total value locked boosts the chain’s credibility and stability, attracting more projects and potential collaborations.
  • Stronger Community Alignment: By requiring bridged $APE for voting power, ApeCoin DAO’s decisions will reflect the voices of stakeholders committed to ApeChain’s ecosystem which is now the north star of the ApeCoin DAO.

No direct funding is requested for this proposal.

DEFINITIONS:

  • Bridged $APE: Refers to $APE tokens that are transferred from the Ethereum network to ApeChain, establishing direct participation within the ApeChain ecosystem.
  • TVL (Total Value Locked): A metric indicating the total value of assets locked within a blockchain, reflecting its liquidity, security, and community involvement.

STEPS TO IMPLEMENT:

  1. Need to figure out BAYC/MAYC/BAKC staking so that people holding those NFTs can bridge and receive the same rewards.

REPORTING EXPECTATIONS:
TBD

OVERALL COST:
Total amount requested from the ApeCoin Ecosystem Fund = $0 (no direct funding requested)

Hi @BojangleGuy ,

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

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

Hi @BojangleGuy ,

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.
  • @BojangleGuy 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,

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