Proposal Category: Core: Ecosystem Fund Allocation category
Abstract |
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.
Motivation |
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.
Rationale |
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.
Would love to hear any ideas for how we could potentially coexist with ApeCoin or even improve as a protocol. I understand we are a fledgling project, but I’m curious where we stand in terms of potential. I think with proper (early) support we can be a success.
If anyone has any suggestions for how we can tweak the proposal I would love to hear them as well.
So in short: ApeBank is in need of exposure. In return for assistance with adoption ApeBank will dedicate a significant amount of their treasury to acquiring ApeCoin
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Your topic will be automatically closing in less than 24 hours. Are you content with the feedback received, or do you wish to extend community discussion for a further 7 days?
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Hey there! I got on a brief call with someone from the community and we chatted a bit. I’ll likely continue to revise this into something more agreeable.
So in the original proposal there was an idea of dedicating a % of treasury to acquiring Apecoin. On the call I had with a community member I also discussed a potential burn mechanism for apecoin which would increase scarcity
This Topic has been rejected based on the DAO-approved guidelines due to no response in the last 30 days. The Topic may be submitted again by any user and upon approval, will be open for 7 days for community discussions.
This Topic will move and remain in the Withdrawn AIPs category.
