The DAO Needs Revenue
Fuego is an OG Bored Ape Yacht Club member since mint and one of the founding members of Magic City Apes. Also Founder and CEO of Fuego Labs, Co-Founder and CEO of Ape Spirits, and a serial entrepreneur since 2003.
The DAO is hemorrhaging, the price of $APE is struggling, and all these zero-sum AIPs are only draining the treasury. We need to stop the bleeding and start bringing in some revenue to replenish the treasury before it is fully depleted and there is no ApeCoin DAO left.
Every AIP that gets approved in the “Ecosystem Fund Allocation” category just takes $APE out of the treasury and doesn’t give anything back. The $APE is then market dumped which further impacts the price and reduces the value of the funds in the treasury.
We should not allow any AIPs requesting ecosystem funds to go to vote unless they have a clearly defined source of revenue for the DAO, and integrate $APE as a payment method.
If we don’t stop the bleeding right away, the DAO treasury will be depleted in no time.
This AIP brings many benefits to the ApeCoin ecosystem including but not limited to:
- The DAO treasury will not be depleted. With revenue coming in, the treasury will never run out of funds.
- The amount of $APE in the DAO treasury may increase if the DAO becomes profitable.
- The value of the DAO treasury may increase, reducing the amount of $APE disbursed for each expenditure.
- The price of $APE will potentially go back up, but most importantly it will stop dumping.
- There will be more utility for ApeCoin holders as the AIPs that get approved will create more use cases for $APE.
- Eliminate all the zero-sum AIPs that offer little to no benefit to the ecosystem or its members.
This is just what I can think of off the top of my head in the few minutes it took me to write this. I am certain there will be more benefits to the ecosystem that will be discovered during the idea phase and as time goes by after this AIP is implemented.
Revenue: income, especially when of a company or organization and of a substantial nature.
Deplete: use up the supply or resources of.
When an AIP enters the Administrative Review phase, the Special Counsel should “Return For Reconstruction” any AIP that does not offer to bring revenue into the ecosystem.
The AIP draft template should be updated to include a section related to revenue and referring to implementing $APE as a payment method.
Instructions and information on the forum should explain in detail to AIP authors that they need to offer a source of revenue to the DAO in order for their AIP to proceed to voting.
This AIP should begin to be implemented by the Special Counsel immediately after it is approved.
Whoever is in charge of drafting the information on the forum should draft the changes asap.
These new rules should be implemented within 30 days or less after this AIP is approved.
0 $APE. There is no cost to implement this AIP.