Proposal: Partnership between ApeCoin and ApeBank

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Proposal Name:
ApeCoin x ApeBank

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.

Specifications |

Tokenomics - ApeBank Official Documentation

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.

Timeline |

2-6 months

With weekly or bi-weekly updates from ApeBank representative in ApeCoin forum.

Overall Cost |

Token swap valuing $5k

Resources:

Dextools: DEXTools.io
Gitbook: About ApeBank - ApeBank Official Documentation
Telegram: Telegram: Contact @apebankpreverify
Twitter: Twitter.com/weareapebank
Website: https://ape-bank.xyz/

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

2 Likes

Tough crowd. There has to be some input others can give. I think its worth a chance.

1 Like

bumping the thread, it’s getting a little hidden.

1 Like

Hi @_Tim,

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?

If we do not hear from you within 48 hours after your topic closes, your topic will be moved straight to the AIP Draft process.

We look forward to hearing from you.

-Pearson

2 Likes

Hi Pearson, that’ fine thanks.

2 Likes

Hi ApeCoin DAO Community,

@_Tim has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 7 days from now. We encourage the community to engage in thoughtful discussions through constructive criticism, honest feedback, and helpful suggestions.

Follow this Topic as further updates will be posted here in the comments.

-Pearson

2 Likes

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