Made By Apes and Powered By ApeCoin

PROPOSAL NAME:

Made By Apes and Powered By ApeCoin

PROPOSAL CATEGORY:

Ecosystem Fund Allocation

TEAM DESCRIPTION:

Fuego is an OG Bored Ape Yacht Club member since mint and one of the founding members of Magic City Apes. Also Founder and CEO of Fuego Labs, Co-Founder and CEO of Ape Spirits, and a serial entrepreneur since 2003.

ABSTRACT:

The purpose of this AIP is to support and empower Made By Apes businesses selling products and services that integrate $APE as a payment method and to generate much needed revenue for the DAO.

The funds will be distributed between 50 Made By Apes licensees, each of which will be required to share an agreed upon percentage of their revenue with the DAO for a specified amount of time.

The idea is to invest into several businesses which could potentially bring in enough revenue to turn a profit and increase the size and value of the DAO treasury, while simultaneously creating more utility and IRL use cases for ApeCoin.

BENEFIT TO APECOIN ECOSYSTEM:

This AIP brings many benefits to the ApeCoin ecosystem including but not limited to:

  1. Prevent the DAO treasury from being depleted. With revenue coming in, the treasury will never run out of funds.
  2. The amount of $APE in the DAO treasury may increase if the DAO becomes profitable.
  3. Increase the value of the DAO treasury and reduce the amount of $APE disbursed for each expenditure.
  4. The price of $APE will potentially recover, but most importantly it will stop dumping.
  5. There will be more utility for ApeCoin holders as the businesses that get funded will create more use cases for $APE.
  6. Increase the number of businesses that accept $APE as a payment method creating more utility and irl use cases for the token.

I am certain there are more benefits to the ecosystem that will be discovered during the idea phase and after this AIP is implemented. Each of the businesses will likely offer unique benefits as well.

KEY TERMS:

Revenue: income, especially when of a company or organization and of a substantial nature.

Deplete: use up the supply or resources of.

PLATFORMS & TECHNOLOGIES:

There are currently 299 Made By Apes licenses issued. We will use Prop House (similar to Thank Ape) to select the top 50 Made By Apes businesses with a community vote.

The top 10 will each receive a grant of 50,000 $APE

The top 11-20 will each receive a grant of 20,000 $APE

The top 21-50 will each receive a grant of 10,000 $APE

Each of the selected businesses will be required to

  1. Implement $APE as a payment method.
  2. Add the Powered By ApeCoin logo on their website.
  3. Add the Powered By ApeCoin logo to their product packaging if applicable.
  4. Share a minimum percentage of their profits with the DAO.

STEPS TO IMPLEMENT & TIMELINE:

We will attempt make this process as frictionless as possible.

Create a Made By Apes “Community House” on Prop House and launch a funding round.

Reach out to all Made By Apes license holders and ask them to submit a proposal.

Have the community evaluate the proposals and vote on the ones that they believe have the most potential and offer the most value to the ecosystem.

Have the winners sign a standard agreement guaranteeing they will implement $APE as a payment method and share the percentage of revenue as required, then disburse the funds to the winners.

If this AIP is approved, it will be implemented by Q1 of 2024.

OVERALL COST:

50,000 to each of the top 10 businesses: 500,000 $APE

20,000 to each of the top 11-20 businesses: 200,000 $APE

10,000 to each of the top 21-50 businesses: 300,000 $APE

Total cost to implement this AIP is 1,000,000 $APE

Love the thought here. I’d like to see the DAO invest in these businesses and have some equity for giving funds. I’ve also thrown out the idea of incentivizing businesses to offer product in $ape for a percent discount, and then made whole through a treasury fund.

8 Likes

I would definitely vote for this AIP

1 Like

Yeah, I easily support this AIP.

2 Likes

I love the ideas & I can’t wait to give back to the dao!

1 Like

Hi @Fuego,

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

This topic was automatically closed after 7 days. New replies are no longer allowed.

Hi @Fuego,

Thank you for your ideas [and the ApeCoin DAO community for the insightful discussions].

A moderator will reach out to the author to finalize the AIP Draft using the appropriate template.

  • Once the AIP Draft is confirmed by the author and meets all DAO-approved guidelines, it will receive an AIP ID number and move forward for Draft Analysis Review.
  • @Fuego please see your messages for the next steps.

Follow this Topic as further updates will be posted here in the comments. In accordance with DAO-approved guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.

-@Facilitators

1 Like

Hi ApeCoin DAO Community,

This Topic has been rejected based on the DAO-approved guidelines due to no response in the last 30 days. The Topic may be submitted again by any user and upon approval, will be open for 7 days for community discussions.

This Topic will move and remain in the Withdrawn AIPs category.

-@Facilitators

1 Like