top of page
PayPal ButtonPayPal Button
PayPal ButtonPayPal Button
PayPal ButtonPayPal Button
PayPal ButtonPayPal Button
  • Writer's pictureKyle

A New Ape Improvement Proposal Is Now On The Ballot. Here's What You Need To Know About AIP-9

A new Ape Improvement proposal is on the ballot this week at the ApeCoin DAO and its focused on one of the biggest issues facing the NFT community.

Bored Ape Yacht Club member and $Ape holder Feld submitted AIP 9 titled “Boring Security - Ecosystem Fund Allocation.”

“This document outlines the Boring Security Mission statement and alignment with the greater BAYC and NFT community, Feld wrote. “In order to grow the pie, we must first secure the crust, and protect the gooey insides from malicious actors.”

Security has been an issue an issue at the BAYC for months and many members have had their apes stolen via malicious contracts and poor security procedures.

“The Boring Security DAO has tracked over $50mm worth of hacked/scammed NFTs in the space and has attributed it largely to lack of awareness and education on the NFT communities’ part, Feld wrote. “There have been no large-scale vendor neutral efforts in the space to educate, inform, and provide timely updates such that the community can make better informed risk decisions with their capital and NFTs. This changes now.”

is asking for 6969 $Ape to run Boring Security.

With the money, Feld and the team at Boring Security will apply Dune Analytics to help determine trends, track user behavior, and guide decisions of resource allocation. They will also utilize social media to conduct outreach and education regarding security. And finally they will review contracts by making partnerships with established auditing companies in the space.

“With BAYC holders being the largest target for hackers/scammers, the DAO will face unique challenges over the coming months and years as it pertains to Security,” Feld wrote. “Bringing a whole slew of new users into DeFi primitives, they will face even more challenges in ensuring the safety of their coins, NFTs, and digital assets more broadly. As the ecosystem evolves and web3 integrations become more prevalent, getting a BAYC holder to sign a potentially malicious transaction will be the holy grail of exploits, and one that should concern this DAO greatly.”

$Ape holders will have until May 11th at 9:00 p.m. EST to vote on AIP 9. The Bored Ape Gazette highly encourages all $Ape holders to read the AIP and vote!

126 views0 comments


bottom of page