Home Harvest AIP

Hi ApeCoin DAO Community,

@wedge has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 6 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

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Nice work, I must say your effort really need to be compensated.

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I believe the team behind Home Harvest is well-equipped to deliver a strong web3 integration.

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Ok, so we’re essentially bootstrapping an already existing business model here by selling $2million of APECOIN which will be used to build a business around an already existing product, the kitchen salad grow garden.

The cloud infrastructure seems silly, unless you’re going to use some kind of vision system to identify the state of the grown crops. Any IoT data you gather is 100% pointless imo with out knowing whether the grow is a success or not.

You’d do much better having local infrastructure testing different grow conditions locally by hand then pushing out updated configs if you identify a tweak. You’d save an absolute ton of time and money.

Kitchen salad grow gardens are already availabel from $100 to $300 but you will enter at a higher price point of $350-$495.

In turn BAYC, MAYC holders etc will be aidropped $GROW
Profits from the venture will be used to buy $GROW tokens from the market which will then be emitted to Home Harvest users

I’d like some specifics, rather than using a %age of profit for buy backs, why not a %age of sales? It’s less likely for hollywood accounting.

Even better, why not consider a more traditional VC idea where APE DAO owns 60% of the business for the $2 million investment?

Given the importance of the APE DAO funding, I’d also suggest leveraging the BAYC/MAYC brand for the idea rather than just some small batch branded units. IMO the entire venture should be BAYC branded.

Just some thoughts.

What’s the patent number for the lighting system and who’s the owner?

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This topic was automatically closed after 6 days. New replies are no longer allowed.

Hey Rus,

Thanks for your feedback and getting in on the conversation. We’re trying to ensure
this is one of the stand out AIPs of the year and all constructive feedback really helps.

Once we get into voting stage we’ll have a open forum where we can discuss further, but here’s some brief responses:

  • Every startup thinks they’re different, but we’ve spent the last 3 years meticulously testing our prototypes and customer proposition, building, growing and talking to customers. We are confident there are currently no other consumer-growing units in the market within our price bracket that deliver professional and consistent growing results that could be relied on to deliver ‘food to fork’ in the home 365 days a year anywhere in the world. Our ultimate aim is to bring reliable production of food closer to the home of food production, starting with these units. Our target market is not just the ‘green fingered’ with time on their hands. Our smart farms have been designed for cost conscious, busy families and working professionals where the priority is both a healthy diet and convenience at an affordable cost. This not only ensures the end user has a healthier, more nutrient-rich diet but also provides an alternative to an unsustainable food infrastructure that the world currently relies upon.

  • ⁠You mentioned the lower price bracket grow units too. We’ve tested some of these ‘grow box at home’ products and they are (in our opinion) unreliable, messy, low in yield and thoroughly in-convenient to use in the home. They simply fall short of being a reliable alternative to visiting the supermarket. Currently only the professional units are capable of a reliable output and our smart farms undercut their grow time AND cost by a substantial margin (see p33 of the IM for info on the cost savings vs shop-bought produce, also p49 for a snapshot of the current competitor landscape in home-grow units)

  • ⁠The cloud infrastructure, as you point out, is there to remotely (and smartly) optimise the
    growing environment depending on the crop being grown (by changing the lighting duration,
    humidity and temperature), using our agronomy platform. Importantly it also ‘connects’ growers and enables them to take snapshots of growth for their grow diaries, re-order supplies, access the rewards system, participate in community engagement. IoT access to the cloud importantly allows us to reward our users with carbon offset credits for the contribution that their unit and activity is having on the environment (via $GROW token).

  • There are multiple benefits to the BAYC, MAYC and APE communities. These are listed under the ‘specific benefits’ section of the AIP, but in short:

  • All communities get airdrop of our $GROW token. As per the tokenomics paper, this token is part of a perpetual rewards system, using profits from unit sales and subscriptions / peripheral sales to buy back and burn or replenish the monthly emissions pot. Essentially, sharing in the growth and success of the company.

  • All units would be Ape branded and the packaging and marketing campaigns would also focus on this being an MBA product. The PCB boards would be etched with ‘made by Apes’ and there are also limited edition units available only to Apes. This IS an Ape product through and through, not just a limited run of stamped items

  • We’ve begun partner conversations with some lifestyle brands for other custom or limited
    edition grow units. Again, Apes would have first refusal on these, along with any other limited edition merchandise or collaboration we pursue

  • It’s a small point, but Apes would also have first refusal on job interviews and vacancies within the company, again allowing Apes to put their stamp on a real-world company, aiming to solve the future agriculture crisis and future-proof millions of people against food in-equality.

  • You would be able to use Apecoin to purchase units or subscriptions

  • Apes also get access to money can’t buy events and experiential shop launches / parties, as well as one-one chef and wellness classes, TBD.

The original AIP was for a higher sum of investment in exchange for 20% equity in Home
Harvest as well as token and peripheral benefits. However, we were advised that there are
certain complications in providing equity to the DAO, especially with regards to who actually sits on the board and who from the DAO is responsible for any tax implications / liabilities as a result of a capital gain in the enterprise value of the business or dividend payments.

Therefore, we’ve decided to split the AIP into 2, allowing us to deliver on our initial milestone goals with the first investment and use some of that initial funding to work with the Ape Council, Waabam and our legal team on an appropriate framework for an equity stake in the follow-up AIP.

We have to use a % of profit for buybacks, % of sales doesn’t take into account operating or
company costs. Or we could use % of sales, but it would be a smaller % obviously. The
specifics of the emissions and token infrastructure are also in the tokenomics paper. The use of a tokenised reward scheme also allows us to reward customers for carbon offsetting as well as the grow2earn concept - each unit will reduce carbon emissions vs traditional agriculture methods of production. The $GROW token become the method of exchanging the value of a carbon offset credit with our users.

Re: your point about a more traditional VC funding route - as mentioned already in this
reply, we’ve looked into this and have been advised that designing an equity deal with the DAO will take some time to ensure it is structured efficiently from a financial perspective. However, we believe passionately that this kind of world-changing initiative and business model needs to be ‘powered’ by web3, both as an example of how to support a web2 product and customer base, but with enhanced web3 capabilities AND as an example of how web3 communities are some of the most active and forward-thinking groups in the world. It will also demonstrate that, as a collective, we are solely responsible for helping people to live longer, feed their families and safeguard against climate change and extremes in weather that are becoming more prevalent.

We believe this project can be a mainstream PR ‘poster child’ for how web3 is going to become integrated into our lives, led by forward thinkers, tech entrepreneurs and responsible community leaders.

Re: the patent number for the lighting - the owner of the patent Sylvania is listed in the IM
(page 62, our partners). Home Harvest have a global, multi-year license agreement for sole use of the patented Helios lighting system within a growing environment.

Hi @wedge,

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

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Hi @Facilitators ,

Have just sent you a message regarding this.

Thanks,

This topic was automatically closed after 6 days. New replies are no longer allowed.