ON THE BALLOT: This AIP Wants To Bring The Idea Of One $Ape One Vote To The DAO With The Creation Of A 15M $Ape Community Wallet
There is an Ape Improvement Proposal on the ballot this cycle that aims to bring the idea of "one wallet, one vote" to the ApeCoin DAO through the creation of a 15 million $APE community wallet that’s controlled by $APE holders.
AIP 474, titled “Delegated ApeCoin Community Voting Wallet,” is a process proposal written by ApeCoin DAO Contributor SmartApe, also known as Derek Smart.
“This proposal is for the creation of a 15M $APE multi-sig “Community Voting Wallet” controlled by members of the DAO community,” Smart wrote. “The purpose is for the CVW to be the voting voice of the community without the influence of whale wallets which tend to override the wishes of the community whereby whale wallets vote against the community pulse. This mechanic will require a temp check voting period during which the “pulse” of the voting community is based on a “1 wallet = 1 vote” linear voting Snapshot recipe. The results of this voting temp check then determines how the community CVW votes on proposals.”
By creating a community wallet where $APE holders collectively have a significant say, Smart believes more $APE holders will get involved with ApeCoin and be more invested in $APE, while also ensuring that the community’s will is represented in the DAO.
“This initiative ensures that the DAO community voting, via this proposal, is fairly representative of the wishes of the community. It can also dramatically reduce - even eliminate - the influence of whale wallets in the DAO voting system.
The window to vote on AIP-474 is currently open, and ApeCoin DAO contributors have until Wednesday, August 28th, to cast their coins and vote on this proposal.
The Bored Ape Gazette is working to find out more about AIP-474 and will be reaching out to Smart soon for an interview about his proposal. Stay tuned for updates!
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