Q&A: This AIP Wants The DAO To Spend $9M USD On Sweeping The BAYC/MAYC Floors
There is an Ape Improvement Proposal on the ballot this week that asks the DAO to break out its broomsticks and sweep the floors of the Bored Ape and Mutant Ape NFT collections to the tune of $9 million USD.
AIP-320 titled ‘The Sweep: For Accelerating Web3 Gaming Adoption’ is an ecosystem fund allocation proposal by ApeCoin DAO contributor Whosprof.
“It costs $9 million to sweep 100 Bored Apes and 200 Mutants,” Whosprof wrote. “I propose we buy them, hold them in the treasury, and allow game companies to submit proposals requesting them in addition to or in lieu of ApeCoin for game prizes and rewards.”
If passed, Whosprof explained that the community will have the chance to submit AIPs and decide what the DAO does with its new Bored Ape collection.
““The intent is to ultimately increase the demand for ApeCoin. People need incentives to buy ApeCoin and participate in the ecosystem,” Whosprof wrote. “My idea is to create an ApeCoin DAO holding of Bored Ape NFTs. These NFTs can be requested through AIP proposals as an option for prizes in ApeCoin games for example. They would have to be approved for grants in future AIP proposals as a community. This way, we are not limited to granting NFTs to existing games at the time of this AIP submission.”
To find out more about AIP-320, the Bored Apr Gazette reached out to Whosprof for an interview. Check it out below:
1 In a sentence or two can you sum up your AIP?
“AIP-320 proposes the ApeCoin down spend $9 Million USD in ApeCoin to acquire Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs for it's treasury.”
2. What inspired you to write this proposal?
“I think one thing leading to the lack of demand for ApeCoin is the lack of substantial rewards for ApeCoin games. I think buying BAYC and MAYC NFT assets and allowing entities, such as powered by ApeCoin games for example, to create proposals requesting them for various purposes and prizes will incentivize people to buy ApeCoin to participate.”
3. Why 100 Bored Apes and 200 mutants? Why not more or less?
I wanted it to be a large enough number such that the DAO would be able to satisfy multiple requests, and make a sizable impact on rewards for various ApeCoin only initiatives across the ApeCoin ecosystem. I also didn't want the DAO to spend more that it was comfortable for a single AIP. $9 Million USD seemed like a happy medium.
4. If passed, where do you see this proposal a year from now?
I imagine the DAO would still hold a significant number of these NFTs a year from now. Ideally, the NFTs that the DAO decided to grant out will have served as attractive rewards for participating in the ApeCoin ecosystem and increased demand for the underlying coin.
5. What should people know about this AIP before they vote?
“All assets will be owned by the ApeCoin DAO, just like its treasury today. I'm not involved in receiving any funds, NFTs, or transactions. It will ultimately be up to the ApeCoin DAO to submit and vote for requests for these NFTs in the future.
6. Do you have anything else you’d like to add or say?
“I hope other members of the ApeCoin DAO see this as an opportunity to think outside the box for how we can use our treasury to drive demand for ApeCoin.”
The window to vote on AIP-320 is currently open and ApeCoin DAO Contributors have until tonight, November 1st, at 9 P.M. EST to cast their coins and vote on this proposal.
