Hey, you mention “Otherside holders” but this airdrop is specifically for ‘$APE tokens to holders of Otherside Kodas’. As there are only 10k kodas in the collection how does this really help? Would love some clarification bc I am trying to understand.
You mention “more accessible to the general public” which I don’t believe this even covers as it is a small pool of holders. I don’t even feel like most dao members own a koda so to use the treasury for this feels… wrong?
Like it or not, $APE value is tied to the Yuga ecosystem at this point. At a later time, the two could separate. But right now, if core Yuga holders move away from Yuga because their first party assets and storyline are not catered to, $APE will fall. As much as I hate to think this way, $APE token price is essential for new entrants, and that token price is most contingent on keeping core Yuga holders satisfied.
I don’t think there needs to be an argument about either returning value to Yuga holders or dissociating $APE from Yuga. I think it happens in stages. First, Yuga holders must be made to HOLD. This will stabilize $APE. In the next stage, Apedao can move away from Yuga knowing that it won’t get dumped on by asset holders who want to see first party content.
If you move away now, with VCs and celebs dumping, and without empowering more core Yuga holders to become builders, it puts too much sell pressure on $APE. People will be forced to move to other ecosystems, because not doing so would mean too much of a capital loss.
As many others have said, I don’t see how an arbitrary $APE airdrop to Koda owners benefits the overall DAO nor do I believe the foundation has (or should have) the mandate to artificially inflate NFT prices.
If Yuga wants to implement some kind of reward system for Kodas fine, but even then the only material impact such an initiative would have is a temporary pump and subsequent dump Kodas.
Pros and cons to everything - Now we can expect otherside plot holders to demand an airdrop. Argument on the otherside, pun intended, is that they must buy Apecoin to participate in the Apecoin ecosystem and so also increase the value of Ape, that was the intended purpose. Some mentioned hereunder, let them apply to Yuga for an airdrop from Yugas vast supply, it is a Yuga product. It can be argued that Yuga creating products that encourage holders to buy Ape to participate in the platform is all part of the plan. I doubt whether otherside holders or Koda holders are worse off than Apecoin holders that bought at the top and are nearly 90% down, now airdrop them and they might sell because they got for free and price might go down even more to the detriment of Apecoin holders. Why not rather airdrop to Apecoin holders who are 90% down on their investment, one might ask? Is this a spending that will provide a return on investment of Apecoin, that should be the guiding principle for any proposal. It surely will mean they will not need to buy Apecoin in the least and that cannot benefit Apecoin holders. However this is a democratic process and little of what we think matters, but we can all share our views.
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