To the Bored,
Good evening and thanks for taking the time to read the Fourth Edition of “Keeping Tabs On The Lab.”
It has been a news-filled couple of weeks around the Yuga Labs ecosystem. From an Otherside prequel trailer to the ApeCoin DAO’s plan to hold a vote on whether to extend the Special Councils term, the Yugaverse has been anything but boring!
Yuga Labs kicked off September with a bang after it released a new Otherside trailer.
This new trailer is a prequel to the Otherisde trailer that Yuga Labs released on March 18th, 2022.
Along with the video, Yuga Labs simply tweeted, “The story continues later this Q4, ” but it is unclear what Yuga Labs meant by this.
While Yuga Labs released a new trailer for the Otherside, ImprobableIo’s CEO and Co-Founder, Herman Narula, gave voyagers new information regarding Yuga’s metaverse.
On September 4th, Narula took to Twitter and explained that the Otherside Metaverse is a platform, not a game.
“Otherside is not a game, it's a platform,” Narula tweeted. “It is powered by M squared which is a network of platforms that all work together. If you own an otherdeed then as we add more worlds to M2 you get more potential people to come visit your content. It’s all stronger together.”
Following this tweet, Narula answered several holder questions. During this back and forth, Narula said that Yuga Labs and ImprobableIo will be building experiences on the platform, and that there may be other worlds, powered by M squared, where users can use their items.
Along with these tweets about the Otherside, Narula also shared a never-before-seen clip that showed off M squared’s potential.
“Leak time,” Narula tweeted. “So there have been some major upgrades to the backend of our @MSquared_io technology. This is a little candid clip of more than 20,000 CCU (concurrently connected users) in a dense location. Many caveats and details in thread: @RJFWhite.”
Outside of the Otherside metaverse at the ApeCoin DAO, the community is currently voting on an AIP aimed at updating the DAO’s voting experience.
Bajwa’s goal with AIP-89 is to make it easier for $Ape holders to delegate their votes and for active DAO contributors to apply to be delegates for their peers.
“Many $APE holders don’t have the time to participate in governance and would prefer to delegate their votes to a peer,” Bajwa wrote. “The current Snapshot delegation system is opaque and unhelpful because users need to know the wallet address of the delegate, and there is no easy way to identify how the delegates will govern.”
To make it easier for $Ape holders to delegate their votes to another user, Bajwa proposed the DAO create a dedicated system for delegation.
“Delegates will answer a few basic questions about how they would govern, and delegators will be able to filter and search through their responses to find a delegate aligned with their interests,” Bajwa wrote.
As $Ape holders are voting on AIP-89 this week, the community is also working to determine what to do next regarding the Special Council.
On September 7th, the Ape Foundation shared a letter to the community that explained that the Special Council’s six-month inaugural term was almost up and asked the community for a three-month extension.
“This six-month term is up at the end of September- which is coming up fast,” The Foundation wrote in a letter to the ApeCoin Community. “As of today, the community hasn’t submitted any viable AIPs specifying what this handover looks like, who might take over, or how we might conduct an election. This suggests the original election specifications were ambiguous. We have therefore decided to propose an AIP for the community to vote on.”
In that AIP the Foundation proposed that the community should extend the current Special Council’s term by three months.
“An extension will provide continuity and stability: the Foundation doesn’t just execute what the community wants - it enables us to ensure we are compliant with the necessary legal, regulatory, and compliance laws and guidance so we can operate effectively,” the Foundation wrote in its proposal. “Second, the extension will allow the community to better understand, contribute to, and ultimately engage with whatever election process emerges.”
The full AIP can be found here: https://forum.apecoin.com/t/extending-aip-1-the-dao-process/8236
Since the Foundation’s initial letter, the ApeCoin DAO has pitched creating rolling board elections going forward.
The Bored Ape Gazette will continue to follow this process going forward.
As the DAO works to determine what future elections will look like, one of the first major launch contributor token unlocks is set to happen later this week.
Back at the inception of $Ape and the ApeCoin DAO on March 17th, 2022, 14% or 140,000,000 $Ape were set aside for “the companies and people that helped make this project a reality,” according to the DAO’s About section.
10,000,000 $Ape were given to these launch contributors up front and the rest of the $Ape was placed into a lockup schedule.
This first unlock of 25,000,000 $Ape is set to happen on or about September 17th, 2022, based on the DAO’s launch date and the launch contributors lock up schedule.
Thank you so much for reading this week’s edition of Keeping Tabs On The Lab and stay tuned for next week’s newsletter, “The ApeCoin DAO-N LOW,” where the Gazette will take a closer look at the ApeCoin DAO.
Sincerely,
Kyle
Editor-In-Chief
Bored Ape Gazette
Amazing