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:
- 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)