Keeping Tabs On The Labs #8
To the Bored,
Happy Tuesday! I hope you’re all having a great week so far. Thanks for reading the Bored Ape Gazette’s eighth edition of Keeping Tabs on The Lab.
It has been a busy two weeks around the Yugaverse with tons of important things happening at the ApeCoin DAO, a Sotheby’s auction, and major sales, among other interesting things. Without further ado, let’s ape right into the news.
The last two weeks at the ApeCoin DAO have been anything but boring. Last week, with 57% approval, the community voted in favor of the creation and funding of a bug bounty for the ApeCoin DAO’s staking system. As a result, the DAO will work with Immunefi and Llama to create and fund a 1 million $Ape bug bounty program. This bug bounty program will delay the DAO’s staking rewards by three weeks. This means that $Ape holders will not be able to accrue staking rewards until December 7th, according to the proposal.
As the community narrowly approved of the bug bounty program, the ApeCoin DAO voted almost unanimously in favor to pass a pair of Special Council election Ape Improvement Proposals.
The ApeCoin DAO voted in favor of AIP AIP-137 and AIP-138 last week. As a result of this vote, these two proposals are now the framework for the ApeCoin DAO’s Special Council elections going forward. Further, as a result of these AIPs being passed, the ApeCoin DAO’s first ever election season kicked off on Monday, November 7th.
$Ape holders are who are interested in running for one of the three Special Council seats up for grabs this election season can throw their hat in the ring by filling out the DAO’s candidate form here: https://forum.apecoin.com/t/nomination-announcement-ape-foundation-special-council-term-beginning-january-2023/9158
$Ape holders who are interested in running for a seat on the Special Council have until November 20th to submit their candidate forms.
While the ApeCoin DAO’s first election season kicked off, the community is also voting on three different AIPs this week.
The first proposal that the ApeCoin DAO is voting on is AIP-97 titled, “ApeCoin Marketplace With 0% Fees, Built By Rarible.”
In its proposal, Rarible wrote that its ApeCoin marketplace would feature every Yuga Labs NFT collection and that its marketplace would have no fees on any trades made in $Ape. Rarible’s marketplace would not cost the DAO anything, according to their proposal.
The second AIP on the ballot this week is AIP-104 titled, “Bringing Web3 to Educators & Schools,” written by Bored Ape Yacht Club member TheTechRabbi.
In his proposal, TheTechRabbi explained that the best way to expand Web3 is to get the next generation involved.
“The Ape Community’s mission to elevate cultural expression through web3 is currently limited to those who are already immersed in it,” TheTechRabbi wrote. “There is no better way to exponentiate this mission than bringing that very web3 ethos into classrooms to support student upskilling in web3. Blockchain is providing a slew of innovative opportunities for evolving education and the relevancy of student learning to the workforce. Our DAO events bring educators, who have no experience with this, into the fold in a practical and knowledgeable way so that they can create multiplicative opportunities for students.”
In total, TheTechRabbi is asking the ApeCoin community for $84,951 USD worth of $Ape to host, fund, or sponsor various educational events over the next six months.
The final AIP on the ballot this week is AIP-110 titled, “Meebits PropHouse Sponsored By ApeCoin,” by ApeCoin Special Council member Maaria Bajwa.
In AIP-110, Bajwa proposed that the best way to encourage other communities to adopt $Ape and build alongside the BAYC was to fund a “PropHouse” program where builders can be awarded $Ape microgrants.
“PropHouse serves as an auction of APE, where the bids are proposals,” Bajwa explained. “Rather than having the DAO vote yes/no on individual projects, PropHouse allows for a group of projects to compete for a fixed grant size, with grants being awarded to the project(s) that receive the most votes. Prop House voters are typically NFT communities.”
In total, Bajwa is asking the ApeCoin DAO to allocate 13,000 $Ape to fund three rounds of Meebit microgrants.
$Ape holders have until Wednesday November 10th to vote on these three AIPs. The Bored Ape Gazette will let you know the final results.
As the $Ape community votes on three AIPs this week, the Yugaverse waits to find out the results of Sotheby’s BAYC auction.
Sotheby’s has been hosting an NFT showcase over the last six days titled, “Natively Digital: Relics.” The collection consists of seven NFTs, five of which are Bored Apes from notable BAYC member PrepsTothePros’ collection.
Take a look at the five Apes being auctioned at Sotheby’s below:
“They are perhaps the most iconic NFT project to date, and one that is hugely responsible for the rise in popularity of the entire scene,” Sotheby’s wrote. “Born out of crypto culture, they spearheaded the member’s club and digital collectibles trends as more and more people grew affectionate to these apes and what they represent. For this reason, we see them as so much more than just an ape, they are art.”
Sotheby’s auction closes tomorrow afternoon at 2 P.M. EST. The Bored Ape Gazette will let you know the final results.
As the Yugaverse waits to find out how much the five Bored Apes at Sotheby’s fetch, notable BAYC member J1mmy.Eth aped into eight new Bored Apes yesterday for 888.98 Eth or $1,383,000 USD.
The most expensive Bored Ape that J1mmy.Eth purchased yesterday was Bored Ape #5718 for 350 Eth or $555,000 USD.
Bored Ape #5718 is a seven-trait red fur primate with a black suit and a spinner hat. Based on these traits, Bored Ape #5718 is the 657th most rare ape, according to Rarity Tools.
After the purchase, J1mmy changed his profile photo from his gold fur Bored Ape to his new dapper primate.
“I was bored and decided to pick up some nice-lookin’ apes to join my world - and rebrand myself in the process,” J1mmy told the Gazette after his spending spree.
While J1mmy aped deeper into one Yuga Labs NFT, another Yuga Labs project had a major revamp recently.
Yuga Labs has “turned on” the Meebits project with a new website and a free physical claim for Meebit holders.
Last week, Yuga Labs introduced the NFT community to the new Meebits website and journey dubbed MB1.
“MB1 represents a beginning; the first chapter of this story,” Meebits Brand Lead DannyGreene.Eth wrote in a blog post today. “As the Meebits go adventuring, this evolving site will be your access to every experience along the way. There will be nine releases to MB1, and this new site will be a launchpad for each new experience, activation, or opportunity. For now, come play with one of your Meebits (or one of ours) and make them dance, float, or just “Meeb out” to some AI music powered by wrapsound’s digital boombox. Feels good to stretch those arms… and especially those legs.
As part of the MB1 journey, Greene and Yuga Labs announced a free physical print claim for all Meebit holders. These prints will be 1-of-1 exclusives. Meebit holders have until Thursday November 17th to claim their posters.
In addition to Meebits new journey, another project that is adjacent to the Yuga Labs ecosystem gave its holders an update on what it plans to do next.
Adidas, which collaborated with the BAYC, G-Money, and Punks Comic last year, announced that the next phase of the company’s web3 journey will start later this month.
“UNBOX THE IMPOSSIBLE,” Adidas’ Bored Ape, Indigo Herz tweeted recently. “How do we use our legacy to inspire the future? What is impossible? Probably nothing. Here. We. Go. Unboxed 16.11.22."
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