Made By Apes and Powered By ApeCoin
Ecosystem Fund Allocation
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.
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.
This AIP brings many benefits to the ApeCoin ecosystem including but not limited to:
- Prevent the DAO treasury from being depleted. With revenue coming in, the treasury will never run out of funds.
- The amount of $APE in the DAO treasury may increase if the DAO becomes profitable.
- Increase the value of the DAO treasury and reduce the amount of $APE disbursed for each expenditure.
- The price of $APE will potentially recover, but most importantly it will stop dumping.
- There will be more utility for ApeCoin holders as the businesses that get funded will create more use cases for $APE.
- 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.
Revenue: income, especially when of a company or organization and of a substantial nature.
Deplete: use up the supply or resources of.
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
- Implement $APE as a payment method.
- Add the Powered By ApeCoin logo on their website.
- Add the Powered By ApeCoin logo to their product packaging if applicable.
- Share a minimum percentage of their profits with the DAO.
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.
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