I’ve been thinking about the sorts of AIP ideas that have been surfacing, and it has me curious as to the best way to bring ApeCoin to new users and new wallets.
There are two types of potential future $APE holders: those with Yuga assets that don’t hold any $APE, and those who hold neither Yuga assets nor $APE. Lately I’ve been admittedly critical of proposals that aim to expand the Yuga asset base or that cater directly to BAYC/MAYC holders, as my initial reaction was that we should be focusing on people who may not even hold a single NFT (or perhaps even know what an NFT is in the first place, for that matter). I’ve been viewing this as a governance token first, rather than a currency or a staking device; one that can enable communities to have a say and write proposals about things that matter most to them… and perhaps this is the wrong way of thinking about it.
What comes first? How does this best grow organically? Should we be prioritizing working on getting current Ape holders who don’t hold any $APE on board before we can take on “cold calling” non-Yuga holders? On the one hand, they may be the easiest sell since they’re already familiar with the ecosystem and brand. On the other, they likely may be the most disinterested as many current holders were airdropped a substantial amount simply for holding and then proceeded to sell that stack into something else. Staking of course is going to play a role for current holders, which will naturally grow the ecosystem wallet count. But will that increase DAO participation?
Non-Yuga holders (including total crypto newbies, those in crypto but not NFTs, as well as NFT holders who don’t hold any $APE) clearly comprise the largest pool of potential new entrants to the ApeCoin ecosystem. The downside is the lack of familiarity with our present ecosystem, potential mistrust of Yuga and/or NFTs in general and our association there, and of course (in the case of total crypto newbies) the obvious hurdle of onboarding new users from scratch.
How to best approach this is a topic I’ve been pondering considerably lately. Of course, there’s no reason a blended approach couldn’t work as well, but strategic implementation is always at the forefront of my thinking and targeting specific communities with clear intention is going to be critical for moving us forward.
I’d love to hear the community’s thoughts on this.