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  • Writer's pictureKyle

ON THE BALLOT: The ApeCoin DAO's Governance Working Group's Six Month Budget Is Up For Vote.

The ApeCoin DAO’s Governance Working Group has an Ape Improvement Proposal on the ballot this week that is asking the community to allocate $488,600 USD to the Governance Working Group to cover the next six months of operating costs, DAO management expenses, and other research and development initiatives.

AIP-317 titled “ApeCoin DAO Governance and Operations Budget” is an ecosystem allocation fund proposal written by ApeCoin Governance Working Group Steward, Amplify.

$348,000 USD of Governance Working Group’s $488,600 USD proposed six-month budget will go towards paying the seven-person Governance Working Group team (Amplify, ALL CITY, Tiger, Lost, 12GAUGE, CryptoLogically and Vulkan) that handles the Ape Improvement Proposal Process and the ApeCoin DAO’s front end operations like Discourse and Discord.

The other $140,600 USD of the of Governance Working Group’s $488,600 USD proposed six-month budget will go towards operational tools, professional services, research and development, community committees, and a one additional month of operational costs as a contingency plan.

“The primary goal of the Governance Working Group is to facilitate the day-to-day operations of ApeCoin DAO,” Amplify wrote. “This involves managing various aspects such as the AIP (Ape Improvement Proposal) process, community committees, and other initiatives. Additionally, the group aims to introduce innovative processes and technologies to enhance the community’s overall experience. The long-term objective is to shape a flexible organization that can effectively adapt to challenges within the dynamic Web3 ecosystem, extending beyond traditional grants. In summary, the overarching motivation behind these efforts is to create an organization that is fiscally responsible, capable of funding initiatives, salaries and other ongoing operations in a sustainable manner.”

For those who are unfamiliar, the ApeCoin DAO adopted a Working Group Structure earlier this year after the DAO voted to end its relationship with its original administrator, the Cartan Group, in January 2023. Since then, the DAO has voted to have the Governance Working Group handle its forward-facing operations while the DAO’s new administrator, WebSlinger, handles the back end.

Amplify goes on to list seven key benefits that he thinks AIP-317 will have on the DAO if passed: 1 Ongoing Operations of the ApeCoin DAO: 2. Sustainability and Compliance Strategies 3. Increased Adoption of APE. 4. Enhanced Transparency: 5. Building the Working Group Blueprint 6. Website and Dashboard Development 7. Community Empowerment.

To find out more about AIP-317, the Gazette held a Twitter Space earlier this week with many of the Governance Working Group team members. Check it out below:

The window to vote on AIP-317 is currently open and ApeCoin DAO Contributors have until next Wednesday, September 27th, to cast their coins.

The Bored Ape Gazette is working to find out more about AIP-317 and will bring you an interview with Amplify about the budget later this week. Stay tuned for updates!

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