APECOIN DAO-N Low #4
To the Bored,
Good evening and thanks for reading the fourth Edition of the ApeCoin DAO-N Low. These past two weeks have been some of the busiest weeks in the DAOâs short history.Â
This week, the ApeCoin DAO is voting on five different Ape Improvement Proposals: AIPs 87, 93, 98, 103, and 113.
Three of these proposals are for $Ape marketplaces.Â
Before we get into the three marketplace proposals, itâs important to note that these marketplace votes are not either or. The community is free to approve as many, or as few, marketplaces as it desires.Â
AIP-87 titled âNFT + IP Marketplace / Yuga Labs + Otherside Partner NFT Collection,â is an ecosystem fund allocation proposal that was submitted by ApeCoin DAO member and BAYC member Zastrow Bradley.
To go along with his proposal, Bradley and his team have built a functioning marketplace dubbed âapecoin.x.xyz .â
âWe also believe actions speak louder than words,â Bradley wrote. âInstead of offering to build a marketplace, we built one first. It is currently live on the temporary URL: apecoin.x.xyz with the IP marketplace going live if the proposal passes. This allows the community to try the marketplace before voting.â
If AIP-87 is approved, the marketplace will have a 1% fee on all transactions, according to the proposal. â100% of this fee will be burned in APE,â Bradley wrote. âIf the sale was not conducted in APE, then it will be bought on the open market and subsequently burned. APE burn will be updated on the marketplace front page and communicated with supporting transaction detail. Frequency of APE burn is TBD based on gas costs.â
In AIP-87, Bradley and his team ask the community for 575,000 $Ape.
75,000 $Ape will be used to pay the marketplace team for six months and 500,000 $Ape will be used as listing rewards.
You can read Bradleyâs full AIP here:Â https://forum.apecoin.com/t/aip-87-nft-ip-marketplace-yuga-labs-otherside-partner-nft-collections-ecosystem-fund-allocation/7708.
The second $Ape marketplace proposal on the ballot is AIP-93.
AIP-93 titled, âA Marketplace For Apes, By Apes, Built By Magic Eden,â is a core brand decision proposal that was submitted by NFT marketplace Magic Eden.
âMagic Edenâs vision is to build the ApeCoin DAO marketplace, the home for $APE holders to buy and sell ApeCoin DAO NFTs, including but not limited to BAYC, MAYC and BAKC, as well as Otherside Otherdeeds,â the NFT marketplace wrote in its proposal. âAll inside of the DAOâs native home at a 0.75% transaction fee and no cost to the DAO.â
In its proposal, Magic Eden explained the companyâs past experience with building marketplaces and its ability to provide a white glove experience from start to finish.Â
âAs a leader in NFT product development, Magic Eden is committed to releasing new features with the ApeCoin DAO marketplace, allowing the DAO to pilot novel initiatives including creator tooling (allowlist management, wallet targeting, auctions, multi-stage allowlists, pre-minting) and native $APE support, Magic Eden wrote. âWe are devoted to the utility of $APE and aspire for the ApeCoin DAO marketplace to directly benefit community members and drive utility to $APE.â
If the DAO decides to approve this AIP, Magic Eden projects that it can begin to implement its marketplace sometime in September or October.Â
You can read Magic Edenâs full AIP here:Â https://forum.apecoin.com/t/aip-93-a-marketplace-for-apes-by-apes-built-by-magic-eden/7949.
The third and final marketplace AIP on the ballot is AIP-98.
AIP-98 titled, âA Community-First ApeCoin DAO Marketplace Proposal,â is a core brand decision proposal that was submitted by ApeCoin DAO contributor and BAYC member Zheerwagen.
In his proposal, Zheerwagen explains that the main goal of him and his team with their marketplace dubbed Snag Solutions is to embrace the values of the Web 3.
âAt the heart of this proposal is our desire to build for the community, and embrace Web3 values of decentralization via composability, non-extraction, and interoperability,â he wrote.
Zheerwagen then listed some of the key features of the Snag solution marketplace:
1.  Leveraging @reservoir0xâs open-source, on-chain orderbook to increase openness and composability.
2.  Aggregated orders from major marketplaces (OpenSea, LooksRare, X2Y2, Sudoswap, and more) to maintain a strong bridge to the rest of the NFT market.
3.  Native sales in $APE with no fees to users buying and selling in $APE.
4.  A .5% marketplace fee on $ETH listings and a .25% fee in $APE. .25% of all fees will be sent to a community-held multi-sig wallet on a monthly cadence. The use of funds can then be decided in a separate AIP. The .25% from $ETH will be converted to $APE and sent to the wallet.
5.  Development of contextual and ape-specific marketplace functionality, such as integration of key BAYC metadata, relation to the Otherside, and more.
Further in the proposal, Zherrwagen wrote that Snag Solutions marketplace proposal will cost the DAO nothing and that Snag Solutions would like a six-month lease on marketplace.apecoin.com pointed to their hosted website.
You can read Zheerwagenâs full AIP here:Â https://forum.apecoin.com/t/aip-98-a-community-first-apecoin-dao-marketplace-proposal/8079
As the ApeCoin DAO votes on these three different ApeCoin marketplace ideas, the DAO is also voting on whether or not to extend the ApeCoin Special Councilâs term.
In AIP 113 titled, âExtending AIP-1 - the DAO Process,â DAO Administration member BTang proposed that the community extend the councilâs term to keep the DAO functioning and give the community time to create an election process.
âThis AIP proposes a three-month extension of the terms laid out in AIP-1 to (1) provide time for the development of a proper and thorough Ape Foundation election framework and process; (2) allow the community to better understand and ultimately engage with whatever process emerges; and (3) enable the DAO to continue functioning coherently beyond September 30,â Tang wrote.
Since BTang submitted his proposal, the ApeCoin DAO has floated ârolling electionsâ as an option for DAO governance.Â
The final AIP on the ballot this week is AIP-103 titled, âApe Worlds: Shooter Edition,â by Knock Knock Games CEO Andrew Friday.
In AIP-103, Friday Proposed the creation of an Ape-themed third-person shooter video game.
âShooter games are massively popular,â Friday wrote in his proposal.  âEveryone knows how to play shooters, and there is a ton of depth to master the gameplay. Also, shooter games are very repayable and get a lot of engagement. Pairing the Ape brand with a fun, accessible game that runs on the web w/ Ethereum/ Metamask we can expand the number of wallets holding and spending $APE.â
In total, Knock Knock Games and Friday are asking the DAO for 215,938 $APE to put their 15-person team to work on building this game.Â
This is Friday and Knock Knock Games second AIP proposal after their first one was voted down by the DAO. Following that vote, Friday and his team turned to the community for feedback and put together this new proposal.
You can read Fridayâs full proposal here:Â https://forum.apecoin.com/t/aip-103-ape-worlds-shooter-edition/8138
The window to vote on these five AIPs closes this Wednesday at 9 P.M. EST. The Bored Ape Gazette highly encourages all $APE holders to read the proposals and vote!
After the polls on Wednesday, the $APE community will be getting an update on the DAOâs highly anticipated staking system the next day.
Horizen Labs, the company tasked with creating the ApeCoin DAOâs staking system, will be holding a Twitter Space on Thursday 9/22 where they will give the community a âstaking update.â
The Bored Ape Gazette will be in attendance during Horizen Labsâ space and will bring you a full recap of the talk!
Sincerely,
Kyle
Editor-In-Chief
Bored Ape Gazette