Keeping Tabs On The Lab #9
To the Bored,
Good evening, and thanks for reading the ninth edition of the Bored Ape Gazetteās Keeping Tabs On The Lab. Let me start this letter by wishing a Happy Thanksgiving to those in our community celebrating the holiday this Thursday. While the macro-market environment has not been good lately, it is important to remember that thereās a lot to be thankful for.Ā
With that said, letās ape into news from around the swamp!
The Yugaverse grew even larger over the last two weeks as the company announced its acquisition of Wenew Labs and the 10KTF project.
āToday, we are excited to welcome the @wenewlabs and @10ktfshop team to the Yugaverse,ā Yuga Labs tweeted on November 14th. āTogether we will push the boundaries of where the metaverse meets reality through creative storytelling and immersive experiences.ā
As Wenew Labs and 10KTF joined the swamp, Yuga Labs also announced that Wenewās former CEO, Michael Figge, and notable crypto artist, Beeple, will be joining the Yuga Labs team.
āFigge, Beeple, and the WENEW team have found a way to create a captivating serialized story for web3, while also managing to tap into the passion people have for their digital avatars and customization,ā BAYC Co-Founder Gargamel said in a press release. āStorytelling and world-building are foundational at Yuga, and Iām thrilled that we get to work with the creative mind hive at WENEW in a much more robust way. The possibilities of what we can do together are endless.ā
While Yuga Labs made waves around the swamp with its recent acquisition, the ApeCoin DAO has been anything but boring: from updates on the bug bounty program to the first Special Council election, there is a lot brewing at the DAO.
On Tuesday, Llama, one of the companies that the ApeCoin DAO is working with to run its staking bug bounty program, gave the community an update on the initiative and said that the program has had 24 submissions so far.
Of those 24 submissions, 21 have been dismissed by Llama, two are under review at the time of this newsletterās publication, and the program paid one whitehat hacker for finding a medium severity bug, according to Llama.
As the ApeCoin DAO waits to stake its coins, the community is busy with its first ever Special Council Election season.
The ApeCoin DAO is looking for three new Special Council members after Dean Steinbeck, Amy Wu, and Maaria Bajwa all announced that they will not be running for a second term.Ā
A lot of $Ape holders have thrown their hats in the ring to run for the Special Council. The $Ape community will have its first official look at the candidates on November 28th after the DAO completes its KYC and verification process.Ā
From there, the $Ape community will hold two votes in December. The first vote will be to determine who the candidates for the Special Council election will be. The second vote will be to determine who will serve on the next Special Council in January 2023.Ā
Take a look at the DAO's election timeline below:
Along with staking and the DAOās first election season, the DAO is also voting on a pair of AIPs this week.Ā
The first AIP on the ballot is AIP-121 titled āTransparency Act For Ecosystem Fund Allocationā by BAYC member Giacolmo.
In AIP-121, Giacolmo proposed three free things that the Cartan Group and the Ape Foundation can do to increase ecosystem fund allocation transparency:
1. Cost disclosure: APE Foundation / Cartan Group will modify the contents visualized in the Snapshot voting page, adding the Overall Cost.
2. Team members: APE Foundation / Cartan Group will modify the template provided to AIP proposers when drafting Ecosystem Fund Allocation AIPs, mentioning the compulsory nature of Team Members description. Furthermore, and more importantly, APE Foundation / Cartan Group will monitor the providing of such information.
3. Monthly reporting: APE Foundation will publish via Apecoin DAO Twitterās page, monthly reporting on funds allocation for each approved AIP.
The Second AIP on the ballot this week is AIP-142 titled āEstablish Communication Team (ApeComms)ā by BAYC member TheHodlrCollective.
In the proposal, TheHodlrCollective stated that the five primary functions of ApeComms team would be to:
1.Build and maintain an official ApeCoin DAO Discord server
2.Coordinate ApeCoin Twitter for AIP awareness & education
3.Develop educational content for the community & support members during the AIP process
4.Administer the lines of communication between Ape Foundation Entities & the ApeCoin DAO community
5. Increase coverage of the ApeCoin DAO ecosystem and cooperate with media contacts
In total, TheHodlrCollective is asking the ApeCoin DAO for $998,000 USD worth of $Ape to cover initial set up cost and contribution. The bulk of this $998,000 price tag will be going towards paying each ApeComms team member $9,250 USD worth of $Ape each month for 12 months for a total yearly compensation of $111,000 USD per team member.Ā
$Ape holders have until Wednesday November 23rd at 9 P.M. EST to cast their votes on these two AIPs. The Bored Ape Gazette will let you know the results after the polls close tomorrow night.
With so much going on at the ApeCoin DAO and around the swamp, BAYC members are getting ready for a much-needed vacation and meet up during Art Basel next week!
The BAYC is hosting its āBAYC X NTS Radio: Miami Art Week Wrap Partyā on December 3rd in the magic city.
āWeāre headed to Miami to celebrate Art Basel, and weāre throwing a party to wrap the weekend, the club wrote on its Tokenproof event description. āDrinks on Gordo and Garga (and probably on the dance floor.) Helping us make it happen is NTS Radio, a global radio platform thatās been handing the mic to niche music scenes since 2011.ā
The Bored Ape Gazette will be reporting live from Art Basel and this event. Stay tuned for coverage!
Thank you so much for reading this weekās edition ofĀ Keeping Tabs On The LabĀ and stay tuned for next weekās newsletter, āThe ApeCoin DAO-N LOW,ā where the Gazette will take a closer look at the ApeCoin DAO.Ā
Sincerely,
Kyle
Editor-In-Chief
Bored Ape Gazette