Move Apestake staking protocol to Apechain

[SmartAPE]

@chimperton

I believe that ApeChain and the ApeCoin DAO continue to be far too Yuga-centric. I think the staking system contributes to that belief. People avoid the DAO because they believe it’s only for apes. I think people will avoid ApeChain for the same reason.

Pretty to the choir there. Most of us get that it’s a club; which is all well and good, but the fact is that the club is neither large enough nor diverse enough for long-term sustainability. But the club doesn’t want to hear this; at least not those who are paying attention or who actually care. And that’s how a 1B treasury went to zero in a little over two years.

It’s this same challenge that we are currently having over my MMO platform vs Otherside and which I described over here yesterday.

Thing is, very few in the club are going to care. They’re not going to listen. Then, +1 year from now, just like the financial crisis that the DAO is currently in, we will be having this same discussion about what went wrong with ApeChain. And there will be zero accountability. Nevertheless, I still hold out hope for ApeChain because I have to believe that behind-the-scenes, all involved are aware of the stakes.

@chimperton

Counter that with Abstract by Pudgy. They didn’t call it PudgyChain because they had the foresight to realize that this would make people who were not penguins feel excluded. So they used a name that wouldn’t cause that.

Yup. There was a whole discussion about this before. In fact, in our ACE platform pitch to them, they were very adamant that Abstract was an all-inclusive “consumer chain”. And they have thus far stuck with that message - even within their dev channels (to which we were given access since the chain launched), docs, marketing materials, social media etc.

@chimperton

But importantly, $APE still has a connotation of only being for apes, and the DAO carries the same stigma. Even apes who DO stake and DO have $APE don’t participate in large numbers. They look at the DAO as a thing that’s driving their bags to 0. To some extent it is.

Yes. And that’s why they don’t care about it and would rather see it go away. Since I wrote this tweet yesterday about the DAO financials, the number of DM chatter that I’ve had surprised me more than anything else because the general consensus was “Sad, but is probably a good thing for the DAO to no longer exist”

It’s just crazy to me how the DAO releases disastrous financial data - that’s two whole quarters behind, which means they’re probably even worse today - and very few seem to care.

@chimperton

So we can continue to be ape-centric, Yuga-centric, or we can be pragmatic and choose to stop doing the things that have thus far driven all values down, and try something different. Try something radical.

That sort of behavior comes with rapid change. As a DAO we don’t have the luxury of change, let alone anything that resembles a rapid one. And when I read election statements I just shake my head and wonder how on Earth any of those people believe that 1 out of 5 can make any difference - to anything. I mean, aside from a few of our notable leadership past and present, very few even engage in the DAO community. But they do post the usual WAGMI nonsense once in a while and rejoice in the 10 likes on X.