Implementation Update | AIP-454: The BANANA Bill: Apes Gotta Eat

AIP Name: AIP-454: The BANANA Bill: Apes Gotta Eat

Implementation Status: Pending

Implementation Date: N/A

Author: @Waabam

Abstract Summary:
This proposal requests funding to support the long-term sustainability and growth of ApeChain through the creation of the “Banana Program”, with two complementary initiatives:

  • a Commercial Agreements Initiative; and
  • a User Incentives Initiative

The Commercial Agreements Initiative is tasked with negotiating commercial agreements with projects, companies and protocols committed to building on ApeChain. These commercial agreements will cover a wide array of structures and incentive models, including the possibility of revenue shares, collaborations, and other ownership arrangements. However, a key commonality will be that the terms of the commercial agreements will provide value to the ApeCoin DAO.

The commercial agreements may also incentivize builders to use community and stakeholder intellectual property in games, activations and/or protocols utilizing ApeChain, and to integrate ApeCoin into game and protocol economics on ApeChain.

Any proceeds generated from the commercial agreements will be redirected back into the overall budget for the programs so that this will become a reusable source of funding for supporting and growing ApeChain. Proceeds may come in various forms, such as tokens, revenue share (fiat or crypto), stock, or assets. Given that each of these will need to be dealt with on a case-by-case basis (e.g. what wallet would crypto revenue share be transferred to), the Special Council will determine for each Commercial Agreement how the proceeds will be returned to the Banana Program for continued use during the two year term, or returned to the ApeCoin DAO.

Similarly, the User Incentives Initiative (as detailed further below) will distribute user incentives with the goal of proportionally growing the network, and may be used as a part of the overall package when negotiating the core economic terms of the commercial agreements.

The Advisory Committee will oversee both programs, including providing endorsements for commercial agreements that will be subject to Special Council veto-authority. The Advisory Committee will be initially composed of the members noted above, and will be supported in day-to-day operations by a Program Facilitator and Strategic Accounts Manager.

This proposal will create a vibrant and attractive environment for game publishers and developers, DeFi protocols, and others seeking to build on ApeChain. The commercial agreements will aim to create a steady stream of future revenue and value, empowering the ApeCoin DAO to continue funding growth many years into the future.

This proposal will Bolster ApeChain Network Activity through New Allocations (BANANA). This is the BANANA Bill: Apes Gotta Eat.

Overall Cost: 100,000,000 APE

Related AIPs:

Timeline Updates:

Interview Q&A:

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