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  • Writer's pictureKyle

PASSED: The ApeCoin DAO Approved Of The Governance Working Group's New Budget This Week That Includes Funding For New Initiatives. Find Out More:

The ApeCoin DAO’s Governance Working Group is expanding after the community passed the committee’s six-month Ape Improvement Proposal budget, which includes new partnerships and initiatives, earlier this week!


On Wednesday, the ApeCoin DAO voted overwhelmingly in favor of AIP-408 titled ‘Q2/Q3 2024 Governance Working Group Budget,’ written by ApeCoin DAO Governance Working Group Steward AllCityBAYC.

 



“Having our budget pass was a major milestone for not only the Governance Working Group, but also the ApeCoin DAO as whole,” AllCityBAYC told the Gazette after the vote. “It provides a proof-of-concept to all of #Web3 that the ApeCoin community believes in the Working Group blueprint that the GWG is building and sees the benefits we aim to provide through initiatives like APE_U with OpenCampus and ForbesWeb3, our on-chain small grants program with UMA, and the delegate accelerator aimed at amplifying the voices of smaller ApeCoin DAO voting delegations.”

 

With the approval of the Governance Working Group’s budget, the ApeCoin DAO will allocate $1,271,900 USD worth of $Ape to the GWG and over half of this will either be locked or distributed back to the community, according to the AIP.




The $Ape that will be spent will be used to cover the committee's expenses for the next six months and also support new programs. These include a Delegate Accelerator, which will extend the coin's voting power to newcomers and up-and-coming communities in the ecosystem; a small grants program that will fund projects seeking 8,500 $Ape or less; and the creation of new training and education programs with the DAO’s new partners, Forbes, OpenCampus, and NewCampus.


Take a look at the full budget breakdown below:




 

The Bored Ape Gazette will continue to follow the Governance Working Group and will keep you posted on the committee’s new programs and initiatives. Stay tuned for updates!

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