APECOIN DAO-N Low #18
To the Bored,
Good evening and thanks for reading the eighteenth edition of the Bored Ape Gazetteās ApeCoin DAO-N Low!
In the real world itās April but around the ApeCoin DAO its āApe-ril and things are anything but boring!
Ā $Ape uses are popping up all over the Yugaverse, from Gucci to 10KTf! Plus, there are four Ape Improvement Proposals on the Ballot this week; Working Group Zeroās contract with the DAO was extended; and the ApeCoin DAO is teaming up with Ledger to keep the community safe!
With so much happening around the swamp, letās $Ape right into the news and get to the ApeCoin DAO-N Low!
One week after Gucci announced its multi-year partnership with Yuga Labs, the luxury fashion house revealed its Otherside Relics collection and stated that the company would be selling 3,333 chains dubbed āKodaPendantsā this Thursday for 450 $Ape each.Ā
āComing to life in both digital and physical form, the #GucciKodaPendant will present itself first as a metadata upgrade for your Koda or Vessel NFT, then as a physical #GucciJewelry necklace. #OthersideRelicsByGucci,ā Gucci tweeted. āThose eligible to purchase can do so on Thursday, April 6.ā
Gucci isnāt the only designer that is accepting $Ape as currency for their products. Last week, the legendary Wagmi-San reopened his 10KTF crafting shop for level 1 & 2 items and revealed that his services will be denominated in $Ape!
āItās always fantastic to see ApeCoin ecosystem partners such as 10KTF integrate APE payments into their activations," ApeCoin Special Council Member BoredApeG told the Gazette. "Iām looking forward to seeing all the new items crafted by holders!"
Along with new $Ape use cases coming from all corners of the Yuga Labs ecosystem, one of the four Ape Improvement Proposals on the ballot this week aims to create an $Ape Shopify plugin so itās easier for $Ape holders to spend their coins online!
AIP-212 titled āForever Apes // Upgrade #7 // Enable Shopify to display $APE in eComm stores,ā is an ecosystem fund allocation proposal written by BAYC member and Forever Apes founder 12Gauge.
āeComm platforms including Shopify are currently limiting adoption of $APE by not supporting it as a displayed currency on products, 12Gauge wrote. āThis proposal presents the idea that the Forever Apes team develop a custom built plugin to address this issue and facilitate the integration of $APE into the displayed currency on Shopify product pages. This plugin will be available to retailers at NO COST and will immediately enhance the platformās functionality, while increasing visibility and encouraging wider adoption amongst their 2 million plus DAU. Weāre choosing to build this plugin on Shopify but recognize it caters to a mostly North American audience, we will expand the pluginās availability to other eComm platforms once demand is proven.ā
To build this Shopify plugin, 12Gauge and his team are asking for $25,000 USD to fund this initiative and for the DAO to tweet about the plugin once a month when it's complete.Ā
Speaking of marketplaces and spending $Ape, the ApeCoin DAO is also voting on an AIP that aims to create a new NFT marketplace for the Yuga Labs community.Ā
AIP-118 titled, āApeCoin DAO Marketplace via NFT Embed, provided by Graviton and powered by Universeā is an ecosystem fund allocation proposal written by ApeCoin DAO contributor Marklar.
āWith NFT Embed, ApeCoin DAO can own the marketplace of choice for ecosystem assets and other curated projects,ā Marklar wrote. āNFT Embed is a free tool from Graviton, providing Shopify and Stripe functionality for NFTs. NFT Embed is free to use; Graviton will deploy an initial marketplace for ApeCoin DAO. NFT Embed is powered by Universeās decentralized, open-source, audited 12 marketplace that supports any collection and major tokens including $APE. Building with trustless, customizable solutions mitigates counter-party risks and compounds economic benefits attributable to marketplace ownership.ā
Marklar went on to say this marketplace would not cost the DAO anything up front and that Graviton and Universe would charge a .3% marketplace fee on all transactions.
The third AIP on the ballot this week aims to make longtime BAYC member and ApeCoin DAO contributor Bored Elon whole after he lost over 39,000 $Ape in a hack.
AIP-221 titled āResubmission: Request to make Bored.eth whole from Rari Hack and frozen collateral,ā is an ecosystem allocation fund proposal written by Bored Elon.
āBecause the Rari Hack resulted in the draining of reserves, all loans are underwater, and users are no longer able to withdraw funds from loaned funds due to no fault of the author,ā Bored Elon wrote. āGiven that reality, the proposal seeks to rescue the author with 39,170 Apecoin, the amount currently frozen in the Rari Fuse system.ā
The Gazette interviewed Bored Elon about his AIP and asked him what his thoughts were on the DAO making hack victims whole.
āI think the DAO needs to look at hacks on a case-by-case basis,ā Bored Elon said. āWhile I understand that some people don't want to approve the proposal as it may "set a precedent" for future proposals, I do believe that in certain cases it's worth being open to the discussion. In my own case, the hacked funds specifically was Apecoin, and I consider myself a long-time contributor the ecosystem who has and can continue to give back in different ways. While it is not the responsibility of course of the DAO to repay me or anyone else, I believe the positive PR coming from such a move will help attract new participants to the community.ā
The final AIP on the ballot this week aims to reward ApeCoin DAO contributor, Codeislight, for optimizing the DAOās staking system.
AIP-208 titled āReflecting on AIP161 Feedback and Revising Proposed Reward,ā is an ecosystem fund allocation proposal written by ApeCoin DAO Contributor Codeislight.
In their proposal, Codeislight explained that they found a way to optimize the $Ape staking contractās gas fees. This optimization will save the DAO 1,450 Eth over the staking systems three-year lifespan.
$Ape holders have until Wednesday, April 5th, at 9 P.M. EST to cast their coins and vote on these four AIPs.
As the ApeCoin DAO votes on four different AIPs this week, Working Group Zero had its contract with the DAO extended one month so the group could complete its mandate.
āGM @everyone! As you may have heard, WG0 was originally slated to end on 3/31 but it has been extended one more month,ā Working Group Zero Steward Vulkan wrote in the groupās Discord channel on March 28th. āWhile the goal was to complete the entirety of our mandate by the end of this month, weāve decided itās prudent to take a few extra weeks to get this right.ā
$Ape holders who are interested in getting involved with Working Group Zero and making their mark on the DAOās structure going forward can join the WG0 community on Discord here: https://discord.com/invite/wg0
As Working Group Zero finishes its mandate, the ApeCoin DAO at large is working to make sure $Ape holders keep their coins safe while exploring the Web3 space.Ā
Last week, Ledger and the ApeCoin DAO announced that they were teaming up to keep security boring.
āgm $APE fam! We're excited to announce that @apecoin is our next Ledger Quest partner Soon, we'll be dropping an exclusive Ledger Quest for $APE holders that will allow you to up your Web3 security game, earn a PoK NFT & claim a custom ApeCoin Nano!ā
Thank you so much for reading this weekās 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