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  • Writer's pictureKyle

ON THE BALLOT: This AIP Wants To Fund $Ape Builders Through A Newly Created Grant Program

There is an Ape Improvement Proposal on the ballot this week that aims to create a separate grant fund outside the DAO that would allocate a million dollars’ worth of $Ape to builders over the next two quarters if approved.

AIP-252, titled 'Funding Grant Proposals using Delegated Domain Allocation,' is an ecosystem fund allocation proposal written by Ruchil, a contributor to ApeCoin DAO, and an employee of Questbook, a decentralized grants orchestration tool.

“As we continue to experience the depth of the bear market, it is increasingly important for ApeCoin to retain the mindshare of key ecosystem contributors and incentivize builders to build on top of it,” Ruchil wrote. “Funding proposals through grants is a great way to attract high-quality builders and grow the ecosystem more quickly. We propose that ApeCoin DAO use Delegated Domain Capital Allocationmodel to to attract high-quality builders and accelerate its ecosystem growth. The Delegate Domain Allocation model is popularized by the Ethereum Foundation.”

Ruchil went on to say that the disbursement of the million dollars’ worth of $Ape to builders would take place on chain and will be overseen by four community elected ‘Domain Allocators’ who will manage the grants.

These allocators would each be paid $14,400 USD per quarter, according to AIP-252. Also, this AIP would also establish the role of a Program Manager, which Ruchil would take on, that would be paid $24,000 USD per quarter. Further, Questbook would take a 3% fee on the disbursals the DAO made through this proposal.

The window to vote on AIP-252 is currently open and ApeCoin DAO Contributors have until this Wednesday to cast their coins on this AIP.

The Bored Ape Gazette will continue to follow AIP-252 and will let you know how the DAO votes later this week.

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