The DAO was not setup to prop up the token. See www.apecoin.com
The token is sliding because it has no utility due to being a speculative asset.
It was setup as a grants DAO. Which means giving away money. But that’s not going to translate to the token pricing going up because - again - buying the token doesn’t do anything other than staking and speculation. It’s why even 11M $ape AIP like the DAM (Machi) haven’t done anything to boost the prices of the NFTs or the token.
If giving away money was going to benefit the DAO or the token price, considering how much we’ve donated to charity, the token should be back a ATH right about now.
And even the upcoming AIPs which are to generate revenue for the DAO, aren’t likely to make a dent - at least not in the short-term; and they certainly won’t affect the token price to any consequential effect. It’s just math. And metrics. And hopium.
And no, ApeChain isn’t likely to fix this either.
I agree. It’s why I have this proposal Proposal To Close Non-Essential Working Groups
In my mind, the only functional working group, and which we do need, is the GwG.
That won’t yield any tangible results; and it certainly won’t affect the token price or its prospects.
Plus, the salaries were already trimmed to acceptable levels.
Further, our recent election turnout has been the worst in DAO history. And so, messing with this any further will just mean that even fewer would even want to take any of these roles. It’s also why I have this proposal so that the experienced people who are already in leadership and who like the job of servicing the DAO, can continue to do so without having to deal with elections shenanigans every year. Proposal To Revise Special Council & WG Stewards Term Limits