MAYC M2 Differentiated Utility

Abstract

After the successful vote for AIP-21&22, this AIP proposes a mechanism to introduce differentiating utility for MAYC M2 vs M1. This proposal is to increase the ApeCoin rewards by 50% from 2,042 to 3,063 for MAYC M2.

Motivation

By increasing the ApeCoin Rewards for MAYC M2 NFT, staking participations will be able to benefit from the differentiated utility and bringing more demand and awareness to the MAYC collection.

Rationale

It’s aesthetically and financially evident there is a big distinction between M1 vs M2 but there has not been any differentiation in the utility within the MAYC collection.

Specifications

This will be building on the foundation of the platform Horizen Labs built.

Increase the amount of ApeCoin can be staked for MAYC M2 by 50% of MAYC M1.

MAYC M2 NFT: 3,063 ApeCoin

Steps to Implement

Request a quote and if approved, a Change Order will be drafted and submitted to Horizen Labs.

Timeline - Relevant timing details, including but not limited to start date, milestones, and completion dates.

TBC if this AIP is approved and formal timeline to be requested from Horizen Labs


Proposals submitted to the AIP Ideas category can be vague, incomplete ideas. Topics submitted here are not required to be submitted as a formal AIP Draft Template, however, you may still use the template if you wish.

Welcome to the forums @BitcoinBaddie and thanks for posting your idea.

I’m not sure if rebalancing the existing pool is even doable and so, while others with deeper experience in DeFi and staking will have their own feedback, I imagine what you’re asking the DAO to consider and approve is a new pool of $APE to be granted and added to the existing staking pool of 175m.

Would you mind laying out how this might benefit the DAO?

Thanks
SSP✌🏽

3 Likes

I’m not clear why there needs to be a distinction made within a unified collection like MAYC. M2 is essentially a trait, albeit a rarer one than the others, within the Mutant Ape Yacht Club collection. To reconfigure rewards based on this sort of criteria would open up a whole new can of worms: should DMT Bored Apes get their own pool? Or BAYC Flipped Brims?

The collections are represented as a whole, no preference extended to categorical nuances. I personally don’t see the need to essentially create an entire new pool based on subdivisions of these individual collections.

Also, as @ssp1111 mentioned, it may not even be a logistical possibility in the first place, to say nothing of the impact it would have on other pools’ emissions even if it were to be implemented.

8 Likes

I concur. The “slippery slope” here is that if one segment gets special treatment, the ethical next step is that ALL segments should be considered for differentiation. Which would then likely lead to the conclusions of “rarer traits = higher rewards” which would then mean a complete reconfiguring of the entire staking rewards structure with a significantly higher chunk going towards BAYC, since they are inherently “more rare” due to collection size, which would end up with your m2 differentiation getting LESS than the amount you currently are getting. Further, this would be a massive time sink to change an already effective stratification of rewards. I am inferring you are an M2 holder from the wording of this, (specifically “aesthetically and finacially evident that there is a big distinction between M1 v M2”) but the lack of differentiation of artificial segments of an NFT collection is probably something that could be more effectively approached by addressing the NFT collection team itself, rather than an wholly separate and unrelated entity.

3 Likes

Hey BitcoinBaddie! I believe that MAYC is MAYC wether is M2 or M1, otherwise what should be the case for Mega Mutants? I wouldn’t add another pool or change the existing one personally.

1 Like

Yea that makes sense and all the points people shared are valid.

mods, feel free to close this thread.

2 Likes

Thanks for sharing your idea either way! You took action and opened a topic, glad to see that!

1 Like

I’m not clear why there needs to be a distinction made within a unified collection like MAYC. M2 is essentially a trait, albeit a rarer one than the others, within the Mutant Ape Yacht Club collection. To reconfigure rewards based on this sort of criteria would open up a whole new can of worms: should DMT Bored Apes get their own pool? Or BAYC Flipped Brims?

The collections are represented as a whole, no preference extended to categorical nuances. I personally don’t see the need to essentially create an entire new pool based on subdivisions of these individual collections.

First, mate, happy to see you active in the Apecoin DAO!

Originally I wanted to write my own reply, but I think that @CryptoLogically sums it up nicely.
The same thoughts about the proposal. It’s one collection like Kennels (with or without weapons) or BAYC with different rarity traits.

Plus actual floor price difference is around 1.4 ETH only - I dont see any reason to have a unique $ape allocation pool for this type of fur.

-withoutname

4 Likes

Nailed it. One collection (M1, M2 and Mega)

3 Likes

initiative is never bad, thank you for taking the time to suggest something, and thank you for listening to the members of the community.

4 Likes

Hello @BitcoinBaddie and community,

This AIP Idea is nearing the 7 day working limit to be moved forward as a Draft. Are you comfortable with the amount of discussion generated by this proposal? Or would you like to request another week period to keep the discussion fueled? Please let us know at your soonest convenience within the next 48 hours. If we do not hear back, we will assume you are content and will move this Idea forward to Draft Preparation.

Best,
-mallard

2 Likes

Take all my $APE.

(This is very selfishly motivated)

Probably should have distinguished membership perks, but M2s did cost substantially more on the market + as serums, so there should be some added value to holding them. Wouldve been nice to get an extra 1000 $APE over M1s… something? it’s worth discussing for sure.

1 Like

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

Thank you @BitcoinBaddie for your ideas and the ApeCoin DAO community for the thoughtful discussions. A moderator will get in touch with the author to draft the AIP in the appropriate template. Once the AIP is drafted and meets all the DAO-approved guidelines, the proposal will be posted on Snapshot for live official voting at: Snapshot

Follow this Topic as further updates will be posted here in the comments. @BitcoinBaddie please see your messages for the next steps.

Best,
-mallard

1 Like