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  • Writer's pictureKyle

Snag Solutions Gave The Community An Update On Its Highly Anticipated ApeCoin Marketplace

As Snag Solutions prepares to open the doors of its ApeCoin marketplace, the company took to Twitter and gave the community an update on what it’s doing.

After the ApeCoin DAO voted to make Snag solutions the official $Ape marketplace September, the company has been working to get its site up and running as quickly as possible.

On Friday, Snag Solutions’ marketplace was given a favorable audit report from Solidity.Io.

After the audit report was released, Snag solutions took to Twitter and gave the $Ape community an update on the company's multi sig signers, its plans for its marketplace’s fees, and a new timeline for when the marketplace will open.

In its update, Sang Solutions informed the community that it has selected @CopyCheatSteal and 0xAmplify to be multi sig signers for the marketplace’s funds based on community feedback. Further, the marketplace announced that it planed to route all of the marketplace's funds from the multi-sig wallet to Thrivecoinhq’s Thank Ape Proposal if/when it is passed.

As the Bored Ape Gazette previously reported, THANK APE, which is currently an AIP Draft, is an ecosystem fund allocation proposal that aims to “Thank” all ApeCoin DAO contributions with Ape, charitable contributions, and on-chain thank you notes, according to the group’s proposal.

“The goal in setting aside .25% of every transaction is to ensure ApeCoin marketplace usage benefits the DAO,” ZHeerwagen wrote. “But because any behavior from a small group of individuals that directly increases token value could cause $APE to be viewed as a security we must tread lightly. We prefer the approach of AIP-124 because: It directly invests proceeds into the ApeCoin community - rewarding community members who create value for the DAO and 2 it enables us to reward contributions that will drive long-term value for our ApeCoin community including marketplace usage.”

In closing, Snag Solutions updated the community on when it hopes to open its marketplace.

“Finally, an update on timing,” Snag Solutions tweeted on Friday. “We’re finalizing a final fix to include all Opensea offers with our technology partner @reservoir0x and will be ready for launch next week! That said, we’re still finalizing the grant agreement with @cartangroup and the @apecoin DAO foundation. We’ll share and update next week as we finalize the agreement and lock in a launch date.”

The Bored Ape Gazette will continue to follow Snag Solutions and will let you know when the company launches its $Ape marketplace. Stay tuned for updates!

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