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  • Writer's pictureKyle

SISTER SISTER: The ApeCoin DAO Passed Yat Siu's 'Sister DAO' NFT Vault AIP Last Night!

The ApeCoin DAO has a ‘sister’ after the $Ape community voted in favor of former ApeCoin DAO Special Council member Yat Siu’s Ape Improvement Proposal that establishes an NFT Vault that’s controlled $Ape holders and filled with NFTs from across the Web3 space!

Things were anything but boring at the ApeCoin DAO last night as the community voted in favor of AIP- 297 titled ‘An NFT Community Vault Operating as an ApeCoin Sister DAO with a Goal to Advance the Mission and Influence of ApeCoin’ by former Special Council member and Animoca Brands Chairman Yat Siu.

“Grateful for all the support on @apecoinAIP-297 which has now passed,” Siu tweeted last night. “$APE has always represented a bigger vision to be the culture token of the metaverse. The community vault which is governed by $APE holders aims to demonstrate that and it was also amazing to see democracy in action, congratulations also to @machibigbrother for passing AIP-304!”

Following AIP-297’s approval, the DAO will now allocate 750,000 $Ape to Siu’s proposed NFT Vault. This money will be used to purchase 8 Bored Apes, 12 Mutant Apes, 15 BAKC Dogs, 15 Mocaverse Mocas, 15 Cool Cats, 15 World of Women, 12 Pudgy Penguins, 12 Kodas, 15 Otherdeeds, and 20 Sandbox land plots.

After the vault purchases these NFTs, the ApeCoin community will then get to vote on how the assets' intellectual property will be utilized and what they would like to see from the ApeCoin DAO’s sister vault going forward.

The Bored Ape Gazette will let you know when the vault purchases its NFTs and will let you know what the $Ape community ends up doing with its newfound IP! Stay tuned for updates!

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