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  • Writer's pictureKyle

$ApeMarketplace Snag Solutions Wants To Know What It Should Do With Its Platform's Transaction Fees

As Snag Solutions prepares to open its ApeCoin marketplace later this month, the company is asking the ApeCoin DAO what it should do with its platform’s transaction fees.

Back in September, the ApeCoin DAO approved of Snag Solutions marketplace proposal, making it the official marketplace of ApeCoin DAO.As part of Snag Solutions proposal, the company agreed to set aside .25% of each transaction in a community held multisig wallet and let the community vote on how to use the proceeds.

On October 18th, Snag Solutions Founder, ZHeerwagen, took to the ApeCoin DAO’s Discourse channel and proposed that the funds should be used to drive long term value to the ApeCoin community.

“We propose using marketplace funding to incentivize DAO participation that will drive long term value for holders and for the ApeCoin DAO community,” ZHeerwagen wrote. “These behaviors could include: voting in SnapShot, engaging in Discourse, building value-creating infrastructure, listing or buying NFTs on the marketplace, and much more.”

To do this, ZHeerwagen proposed that the funds be directed to a different ApeCoin DAO project called “THANK APE.”

THANK APE, which is currently an AIP Draft, is an ecosystem fund allocation proposal that aims to “Thank” all ApeCoin DAO contributions with Ape, charitable contributions, and on-chain thank you notes, according to the group’s proposal.

“The goal in setting aside .25% of every transaction is to ensure ApeCoin marketplace usage benefits the DAO,” ZHeerwagen wrote. “But because any behavior from a small group of individuals that directly increases token value could cause $APE to be viewed as a security we must tread lightly. We prefer the approach of AIP-124 because: It directly invests proceeds into the ApeCoin community - rewarding community members who create value for the DAO and 2 it enables us to reward contributions that will drive long-term value for our ApeCoin community including marketplace usage.”

ZHeerwagen and the Snag Solutions team are currently looking for feedback from the community on their idea. You can join the conversation on their Discourse post here:

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