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  • Writer's pictureKyle

ON THE BALLOT: The ApeCoin DAO Is Voting On The Governance Working Group's Six Month Budget. Here's What You Need Too Know:

The ApeCoin DAO is heading to the polls this week to vote on the Governance Working Group's six-month budget Ape Improvement Proposal that aims to cover not only the day-to-day operations of the DAO, but also to expand the committee's scope, bring on new partners, and establish the DAO as a premium destination for builders in Web3.


AIP-408 titled ‘Q2/Q3 2024 Governance Working Group Budget,’ is an Ecosystem Fund Allocation Proposal written by ApeCoin DAO Governance Working Group Steward AllCityBAYC.


“The Governance Working Group is excited to introduce a comprehensive, long-term strategy to empower the ApeCoin ecosystem by providing training and development solutions aimed at strengthening candidates going through our AIP process and, in turn, our proposal implementation success rate,” AllCity wrote. “This framework involves the launch of 14 education-based initiatives over the next 12 months, tailored specifically for the ApeCoin DAO. These initiatives will be developed and overseen by OpenCampus in collaboration with core members of NewCampus — a cutting-edge growth and leadership school serving some of the world’s fastest-growing organizations, boasting a client base of over 500 entities. Additionally, ForbesWeb3 will be joining us as a media and community growth partner to help put this program on the map and make ApeCoin DAO a premium destination for builders in Web3.”

 

To do this, AllCity and the Governance Working Group are asking the ApeCoin DAO to allocate $1,271,900 USD worth of $Ape to their six-month budget.



Take a closer look at how the majority of these funds will be used below:


$200,000 USD worth of $Ape will be used for the GWG’s new Delegate Accelerator program, which will lend the coin's voting power to newcomers or up-and-coming communities in the ecosystem. Note that these delegations will not be able to spend these coins, but they will be able to use their voting power.




$300,000 USD worth of $Ape will go towards the GWG’s funding of smaller proposals, each 8,500 $Ape or less, giving builders in the ecosystem the chance to prove their concepts outside of the traditional AIP process.





$300,000 USD worth of $Ape will be allocated to the training and education costs of the DAO's new APE_U program. Note that $150,000 USD of this amount will be locked and made available only to entities such as Forbes, OpenCampus, and NewCampus as governance tokens until the end of the program, according to the budget.


"By strengthening our ecosystem through training and education resources and amplifying our visibility by aligning with premium brands like ForbesWeb3 and Open Campus, we will instill an re-energized sense of pride within ApeCoin DAO community members and raise our standards for success among AIP authors, developing new heights in brand equity and reasons to build with ApeCoin, and on ApeChain," AllCity wrote.





$321,000 USD worth of $Ape will be allocated for paying the DAO's three Governance Working Group Stewards, the DAO Secretary, and the costs of AIP and Forum Facilitation at the DAO.


Take a look at the whole budget below:



“It should also be noted that 50% of the total funding allocated for our education and training initiatives will be withheld and only accessible to the service provider as delegated governance tokens from a GWG controlled wallet until the six-month mark of the projected twelve-month duration, pending a DAO-wide vote to determine the program’s continuation,” AllCity wrote. “Outside of releasing funds and certain steps of the AIP facilitation process, the APE Foundation will not be required to participate in any other areas of the proposal’s scope.”

 

The window to vote on AIP-408 is currently open and ApeCoin DAO Contributors have until Wednesday, May 1st, to cast their coins and vote on this proposal.

 

 

The Bored Ape Gazette is working to find out more about AIP-408 and will bring you an interview with AllCity soon. Stay tuned for updates!


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