APECOIN DAO-N Low 23
To the Bored,
Good evening and thanks for reading the 23rd edition of the Bored Ape Gazette’s ApeCoin DAO-N Low newsletter.
It’s hard to believe but it’s already June and things are anything but boring around the ApeCoin DAO. From the next round of staking rewards beginning today and the first round of Special Council and Working Group Steward elections kicking off this Thursday; it's safe to say that there’s a lot going down at the DAO.
Without further ado, let’s ape in and get to the DAO-N low on all things $Ape!
To begin, the second quarter of the ApeCoin DAO’s staking protocol has come to an end and the community has now entered the DAO’s third quarter of staking rewards.
During this third quarter, the ApeCoin DAO will distribute a total of 20,000,000 $Ape between the DAO’s four staking pools with 6,000,000 $Ape going to the $Ape only Pool, 9,421,000 $Ape going to the BAYC Pool, 3,812,000 $Ape going to the MAYC Pool, and 767,000 $Ape going to the BAKC Paired Pool, according to ApeStake.io.
The 20,000,000 $Ape that will be distributed between now and roughly September 11, 2023 is part of 100,000,000 $Ape that the ApeCoin community voted to distribute during the first year of the DAO's three year staking plan. In total, the DAO will distribute 175 million $Ape to Stakers over the next three years, according to AIP 21 & AIP 22.
Take a look at the ApeCoin DAO’s three-year staking reward roadmap below:
Take a look at the current daily rewards for a fully staked Bored Ape, Mutant Ape, and Bored Ape Kennel Club Dog courtesy of A_Raving_Ape’s Dune Analytics.
As the DAO’s third quarter of staking rewards begins, two of the founding Special Council members’ terms at the ApeCoin DAO are coming to an end and the community is set to begin voting for their replacements this Thursday.
Special Council members Yat Siu and Alexis Ohananian, who have both served on the ApeCoin DAO’s Special council since the DAO’s inception in March 2022, will be stepping down from their posts this summer and the community is currently in the process of finding their successors.
21 ApeCoin DAO members threw their hats in the ring and have spent the last two weeks campaigning across the Yugaverse, making their pitch on why they're the right $Apes for the job!
For community members who are unfamiliar with the role of Special Council members within the DAO, outgoing Special Council member Yat Siu took to Twitter last month and described their job as performing the will of the community.
“The role of the Special Council is to act as stewards of @apecoin its purpose to serve the $Ape community with a mission to be the layer for community-led initiatives that drive culture forward into the #open #metaverse #web3,” Siu tweeted on May 7th. “The Special Council members role is that of a steward, we serve the community, we are not operators, there is no CEO, we are servants to the @apecoin DAO community.”
Following the past two-weeks of campaigning, the ApeCoin DAO will now take to the polls beginning this Thursday and cast their coins in the first round of Special Council voting. $Ape holders will have until June 21st to make their voices heard and vote for their preferred candidates.
Following this first round of voting, the top five vote-getting nominees will move on to the second and final round of the Special Council election process; where the community will elect the DAO’s next two Special Council members!
Special Council elections are not the only elections taking place at the DAO this week. The community is also set to elect two Apes to serve as Working Group Stewards in the DAO’s newly formed Governance Working Group. Nine ApeCoin DAO members are running for the two open positions.
For those who are unfamiliar with what this role entails, a Working Group Steward’s job includes managing their Working Group Multisig, operational tasks, maintaining documents, organizing and approving initiatives, communicating with the Ape Foundation and DAO Secretary, approving budgets, executing their Working Group Charters, among other things, according to the DAO.
The Working Group Steward election will follow the same timeline and process as the Special Council elections.
Take a look at both the Special Council and Working Group Steward election timelines below:
The Bored Ape Gazette has been busy interviewing the candidates in the Special Council and the Working Group Steward elections. Take a look at the Gazette’s new election tabs below and get to know the candidates!
https://www.theboredapegazette.com/blog/categories/special-council-nominees-2023
https://www.theboredapegazette.com/blog/categories/wg-steward-election-2023
Thank you so much for reading this week’s edition of the ApeCoin DAO-N Low and be sure to follow the Bored Ape Gazette on Twitter to stay up to date with all things $Ape!
Sincerely,
Kyle
Editor-In-Chief
Bored Ape Gazette