ApeCoin community will vote on three proposals

In the early morning of April 29th, Beijing time, ApeCoin tweeted that at 9:00 p.m. Eastern Time, three proposals will be voted on by the entire community.

ApeCoin stated that the community has been working hard to come up with new ideas in the form of AIPs to guide the direction of the DAO.

Proposals for this vote include AIP-21 and AIP-22 on the staking function and AIP-7 on the reorganization of the ApeCoin DAO discourse. DAO members can participate through snapshot voting.

Voting will close on Wednesday, May 4 at 9pm ET, with two additional AIPs to be submitted to the Select Committee tomorrow. If approved, a ballot will be submitted next Thursday, May 5 at 9pm ET.

AIP-21

This AIP proposes a staking system for ApeCoin and the Boring Ape Yacht Club (BAYC) NFT ecosystem: Boring Ape Yacht Club, Mutant Ape Yacht Club (MAYC) and Boring Ape Kennel Club (BAKC). Staking participants will be able to stake ApeCoin and receive ApeCoin from a preset pool for a set period of time using the Bored Ape Yacht Club ecosystem NFT.

A core goal of this AIP is to ensure that staked BAYC ecosystem NFTs remain tradable regardless of the state of a particular NFT in relation to staking, so that ecosystem development is not limited by staked asset lock-in. By continuing to grant access to any BAYC ecosystem NFTs, this allows new users to always have the opportunity to participate in staking after any staking period starts.

Eligible ecosystem assets for staking or committed staking pools are ApeCoin, BAYC, MAYC, and BAKC NFTs.

During this period, ApeCoin can be directly staked to any amount, but if it belongs to NFT, during the initial staking period, the upper limit of staking per NFT is:

BAYC NFT:10,094 ApeCoin

MAYC NFT:2,042 ApeCoin

BAKC NFT: 856 ApeCoin

During this period, users can submit any number of BAYC, MAYC and/or BAKC NFTs to the incentive pool. Submitting an NFT is the act of attributing ApeCoin to a specific NFT, which can then earn and claim rewards as long as the ApeCoin remains vested. Think of it like the NFT is a safe key. The NFT provides access to the pledged ApeCoin tokens previously attributed to it.

AIP-22

Consistent with the AIP-21 Staking Process with Caps (1x drop), this AIP wants to simplify and move forward, effectively re-proposing the previous AIP-5, which was voted down by the only vote for having no caps in the Staking Process.

The proposal describes the total ApeCoin allocation for the staking pool and the three-year duration of this staking period.

The ApeCoin staking process outlined in AIP-21 was created to work with different ApeCoin incentive pools and cycle lengths. This AIP shows the initial staking pool and staking duration.

As stated in AIP-21, in order for ApeCoin to become the token of choice for web3, early NFT adopters as well as existing and potential ecosystem participants should be incentivized by participating in activities that benefit the APE ecosystem.

The initial ApeCoin staking period and staking pool size presented here are designed to incentivize participation in the ecosystem during the staking period, whether participants stake ApeCoin individually or modify that staking by submitting a BAYC ecosystem NFT.

Total ApeCoin Staking Pool: 17.5% of the total ApeCoin supply will be distributed over a three (3) year total staking period. This will be funded by the Ecosystem Fund.

Staking pool period:

Year 1: 100,000,000 ApeCoin tokens (10.0% of total ApeCoin supply)

Year 2: 50,000,000 ApeCoin tokens (5.0% of total ApeCoin supply)

Year 3: 25,000,000 ApeCoin tokens (2.5% of total ApeCoin supply)

AIP-7

This AIP draft outlines structural changes to the ApeCoin Forum to better meet the general needs of the proposal process, governance, education, and community.

Currently, the structure of the forum is entirely centered on the AIP process and is not conducive to other discussions. This prevents the forum itself from being a vibrant place to discuss AIP-related topics, workflows that may be inspired by the work of the DAO, and general community development and camaraderie.

This is a relatively simple change that requires no additional cost, but adds a lot of value. The ApeCoin Forum is the main hub for the ApeCoin DAO, and improving its structure could be of great benefit to the community.

ApeCoin forum moderators need to set up the category/subcategory structure, which includes renaming certain categories and adding new ones

The voting plugin, which needs to be installed and configured for this Ideas category, needs to change the default login page according to the spec.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/apecoin-community-will-vote-on-three-proposals/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-04-29 21:57
Next 2022-04-29 22:01

Related articles