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  • Writer's pictureKyle

After The ApeCoin DAO Rejected X Marketplace The Project Pivoted. The Full Story Here:

On Wednesday the ApeCoin DAO voted to reject X Marketplace’s Ape Improvement Proposal, but that doesn’t mean the project is eaving the $Ape ecosystem.

After a weeklong vote, the ApeCoin DAO voted against X Marketplace’s AIP, AIP-87, and in favor of Snag Solutions marketplace proposal AIP-98.

While X marketplace did not become the official marketplace of the ApeCoin DAO, the founder of the project said that he and his team “heard” the community and have decided to take their marketplace in a new direction.

In an eight part Twitter thread, X Marketplace founder BradleyZastrow explained that X Marketplace will be lowering its fees and kicking off a listing reward campaign on the platform.

“So starting today: is your @apecoin marketplace for @yugalabs & @OthersideMeta NFT collections,” BradleyZastrow tweeted. “0.25% MP fee for $APE sales 0.50% MP fee for sales in anything else 100% of the marketplace fees for $APE sales will be burnt, and 50% for all others. All burns will be in $APE The fees that aren’t burnt? We don’t keep them, it’s emitted to our veX token holders Our ask for AIP funding was too high - we heard you So starting 12pm UTC +8 on Friday 23 Sep: We’re launching listing rewards - no grant funding required The fees that are emitted to veX token holders? Now you get to be a holder. Listing rewards will be in veX - same rewards construct as our proposal Only difference is we’re giving out 10% of our token supply in veX as listing rewards for 4 weeks.”

The Bored Ape Gazette will continue to follow X Marketplace and will let you know what they do next!

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