🟡 Implementation Update | AIP-582: ApeChain, On-chain – ApeCoin DAO Governance Revamp

AIP Execution and Transparency AIP Implementation Updates
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AIP Name: AIP-582: ApeChain, On-chain – ApeCoin DAO Governance Revamp

Implementation Status: Pending

Implementation Date: N/A

Author: @Ape.Admin

Proposal Description: This AIP proposes replacing AIP-1 and AIP-2 and guiding the ApeCoin DAO to a drastically more effective governance process by removing administrative layers and moving more decision-making on-chain. This proposal would place more autonomy and power into the hands of the ApeCoin DAO, while focusing the DAO’s efforts on growing ApeChain.

Key Points:

  1. DAO Treasury:
  • On-chain DAO treasury using Governor Bravo contracts
    • 75/25 split
      • 75% of total treasury placed on-chain for the ApeCoin DAO
      • 25% of total treasury provided to Ape Foundation for its Administrative Budget
    • Power directly in hands of ApeCoin DAO
  1. ApeChain Protocol Upgrades:
  • On-chain protocol upgrades and updates using Governor Bravo contracts, governed by the ApeCoin DAO
  1. Creating the Executive Director role and clarifying the role of Special Council:
  • Establishing an Executive Director of the APE Foundation, responsible for driving ApeChain’s growth and enhancing ApeCoin’s value.
  • Creating an Audit Committee, to provide oversight over the Executive Director and the APE Foundation budgeting and finances.
  • Clarifying that Special Council members are no longer involved in the AIP process, and current Special Council terms will be extended by 6 months to provide continuity and guidance in light of this governance revamp.
  1. Replacing AIP-1 and AIP-2, and adopting the ApeCoin DAO Constitution (see below in the “Benefit to ApeCoin Ecosystem” section).

Overall Cost: $100,000 one-time cost + $275,000 per year.

Related AIPs: AIP-1, AIP-2

Timeline Updates:

Interview Q&A:

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Hey, just wanted to see if there were any updates here or more specifics on when the execution (i.e. movement of funds) would take place?

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Hello @MaximusMX, implementation remains ongoing. We will be posting updates as soon as there is any new information to report.

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Understood - appreciate the update!

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Note this is not overseen by the DAO community. I have no issue with the hiring of Cameron, just what does transparent process mean? Was a Job Description actually shared publicly as it seems this was a closed internal hiring?

E.g. Just say “the Special Council, Foundation Directors and the Audit Committee will internally decide on the hiring of the Executive Director.”

This is said in section E, btw, which is somewhat in conflict with section b.

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Agreed, on all points. It would be good to see some transparency here as promised.

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Based upon the above, it looks like AIP-582 has been implemented with the exception of the ApeChain Protocol Upgrades and on-chain voting. The Executive Director role has been created and filled. The Audit Committee has been created. The Special Council roles have been changed. AIP-1 and AIP-2 have been replaced. Assuming that the Treasury split has been made, that only leaves the ApeChain Protocol Upgrades and on-chain voting. Correct?

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Correct, we’re still anticipating those components.

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What about Security Council elections?

FYI

BD Council

Personally I thought it was stupid to have the same title for a very different job scope. Still checking how this fits with the AIP that passed.

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Security Council elections were supposed to take place at the same time. Yes?

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As you can see not a 100% hard deadline.

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Right, we are tentatively targeting July 15th as the start of the Security Council election process, pending the on-chain voting platform implementation.

Announcements will be forthcoming… it’s Election Quarter up in here. :apekinvote:

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It was stated in the AIP-582 it would take one to two months? Why after over 6 months this has not been completed?

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