Keeping Tabs On The Lab #7
To the Bored,
Hello and good evening to everyone in the Yuga Labs ecosystem! Thanks for reading the seventh edition of the Bored Ape Gazette’s, “Keeping Tabs On the Lab.” Over the past two weeks, we have had many announcements, updates, and news from all corners of the Yugaverse.
To begin, staking and a bug bounty program have been the talk of the ApeCoin DAO.
As the Bored Ape Gazette previously reported, Horizen Labs, the company that was tasked with building the DAO’s staking system, announced that the ApeCoin DAO’s staking program would go live around Halloween.
As the DAO’s staking “go live date” approaches, ApeCoin Special Council member Maaria Bajwa proposed the creation of a “bug bounty program” to safeguard the smart contract.
“Setting up a bounty program ensures the DAO always has resources available to allocate to white hat hackers who are protecting APE holders and the allocation of APE approved in AIP-22,” Bajwa explained in her proposal.
As the Gazette previously reported, the ApeCoin DAO approved 175 million $Ape tokens or 17.5% of the coin’s total supply being distributed via staking over the next three years, according to AIP-22. Check out the Incentive Distribution Curve that was laid out in the proposal below:
“The upcoming staking program is a significant allocation of treasury resources and will require smart contract interaction from APE holders,” Bajwa wrote in her bug bounty proposal. “The bounty program adds an additional layer of security and decreases the risk to APE holders and the DAO.”
Since Bajwa’s original proposal, ApeCoin Contributor Bored Elon held a Twitter Space with Bajwa and Immunefi CEO Mitchell Amador, where they discussed Bajwa’s bug bounty proposal.
Following Bajwa’s Twitter space with Bored Elon and Amador, the ApeCoin Special Council member retweeted a proposed bug bounty program timeline from BAYC member A-Raving-Ape that had $Ape staking rewards starting on November 14th.
“Been working through a proposed timeline for implementing the bug bounty program,” Bajwa tweeted on October 22nd. This is NOT final but is where I'm currently leaning.”
The Gazette is seeking additional information from Bajwa to find out where the bug bounty program currently is in the AIP process. The Gazette will continue to follow this and will let you know when it goes up for a vote.
Staking and bug bounties aren’t the only things happening at the ApeCoin DAO. $Ape holders are also voting on Ape Improvement Proposal 112 titled, “Forever Apes, Free Luxury Physicals For All $APE holders,” written by ForeverApesNFT founder and Bored Ape Yacht club member, 12Gauge.
“This proposal presents the idea that ApeCoin holders should be eligible for free-to-claim luxury products produced by the Forever Apes team,” 12Gauge wrote in their proposal. “Through a mix of free-to-claim digital and physical products, we will create a unisocks type buzz and stimulate the $APE community, engagement and growth.”
In total, 12Gauge is asking the ApeCoin DAO for $45,000 USD so he can produce and distribute 1,000 decks of BAYC inspired playing cards to $Ape holders.
The window to vote on AIP-112 closes tomorrow evening at 9 P.M. EST. The Bored Ape Gazette will bring you the results once the polls close.
Speaking of cards, playing card company Bicycle recently joined the BAYC and plans to create a deck of cards featuring the brand’s new Bored Ape.
“It’s official,” Bicycle tweeted on October 19th. “We aped in. See you on the moon. We purchased @boredapeyc #1227, and we’ll be featuring him on a new deck of playing cards. We have some big ideas for partnering with the Bored Ape Yacht Club community, more to come soon.”
As a playing card company joined the swamp, BAYC Co-Founder Garga gave the NFT space a major update on Yuga Lab’s Otherside metaverse.
In a recent video interview titled “Meta-511” that was posted to Youtube on October 21st, notable NFT investor Punk6529 asked Garga when the Otherside will be a reality.
“The persistent world will be coming in 2023,” Garga said. “There will be multiple experiences, many multiple experiences along the way, but the initial persistent world, where people will have full access to the initial customer experience will be in 2023.”
You can watch the full interview below:
While Garga gave Otherdeed holders an update on when they will be able to break on through to the Otherside, Tiffany& Co. gave the CryptoPunks community an update on their NFTiff punk pendants.
“NFTiff holders, check your inbox on 10/26 for a first look at your custom 1/1 @TiffanyAndCo Pendant,” Tiffany& Co’s Alexandre Arnault tweeted. “Sneak peek here.”
Tiffany& Co. wasn’t the only major brand to give the Yugaverse an update on its physical items. SuperPlastic announced that it plans to have its “Super Bored” collaboration figurines shipped this holiday season.
“We have an update on the @boredapeyachtclub vinyl toy ship date,” SuperPlastic tweeted. “The figures are going to start arriving to our warehouse the last week of November and shipping out ASAP Read below for more details on the shipments. We are so appreciative of the community's patience while we had these incredible figures produced. We will be receiving the figures in a couple of waves and plan to ship in the order that they were received once everything in your order has arrived.”
Take a look at SuperPlastic’s bored figurines below:
As CryptoPunks and Bored Apes each got updates on their physical collectibles, the BAYC announced that its next merch drop will begin tomorrow afternoon.
Last week the BAYC announced that it was collaborating the McBees and The Dudes to release a new line of monochromatic merch.
BAYC and MAYC members will have from October 26th- November 2nd to purchase two different “McCapsules” from the BAYC’s official storefront here:
https://store.boredapeyachtclub.com.
Each item is made to order so nothing will sell out, according to Yuga Labs.
The first of the two “McCapsules” is the small version that includes a Skull and Fish Tee, a 50cm x 70cm art print individually numbered, stickers, and an enamel pin. This option will cost the ApeCoin equivalent of $175 USD.
The second McCapsule for sale next week is the large version that includes a denim jacket, a patch set, an enamel pin, the Boat Tee, a 110cm x 75cm art print individually numbered. This option will cost the ApeCoin equivalent of $500 USD.
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