ApeCoin x ApeBank
Core: Ecosystem Fund Allocation category
ApeBank is asking for consideration of a partnership from ApeCoin and its community by means of social and community-wide support. This proposal is not primarily financial in nature, but there is a request for a token swap between protocols of a conservative amount ($5k). The suggested figure would moreso be a symbol of good faith and support.
Apebank is a gateway for premier NFT and asset acquisition. The protocol grows as the assets it accumulates accrue value. There is a considerable gap between the most popular and valuable NFT collections and the wider crypto audience. High floor prices create an obstacle for smaller investors. Fractionalizations and index tokens have attempted to bridge this gap, but not always with success.
Apebank’s primary solution was to create a fund that acquires, manages, and sells those NFTs and assets, with input from the community. A tax allows the fund to run perpetually without the need of external pressures. In addition, a deflationary token supply reduces the risk of dilution. Profits are used to buy back and burn tokens leading to both a continuous and consistent demand with increasing scarcity.
ApeBank’s mission can align with ApeCoin, but also serve as lower risk investment opportunity. As detailed previously, this proposal is not necessarily requesting financial investment. Through means of social and community support, ApeBank could receive the push needed to potentially take off. In return, ApeBank could reach an agreement to use 25-50% of treasury income to acquiring ApeCoin.
Steps to Implement |
- Token exchange between ApeCoin and Apebank totalling $5k
- Addition of selected ApeCoin representative to ApeBank multisig.
- Social, marketing, and advisory support from Apecoin.
- Community integration with Apebank.
- Determination of protocol treasury strategy with advice from ApeCoin.
With weekly or bi-weekly updates from ApeBank representative in ApeCoin forum.
Overall Cost |
Token swap valuing $5k