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  • Writer's pictureKyle

The Ape Community Approved AIP 98 AKA Snag Solutions To Be Its Marketplace. Find Out More:

After weeks of debate, discussion, and deliberation, the ApeCoin DAO selected Snag Solutions as its official ApeCoin Marketplace.

The $Ape community had three different marketplace Ape Improvement Proposals on the ballot this week at the ApeCoin DAO.

After a week-long vote, the community voted in favor of AIP-98 titled “A Community-First ApeCoin DAO Marketplace Proposal” AKA Snag Solutions and against AIP-87 AKA X Marketplace, and AIP-93 AKA Magic Eden’s Marketplace.

“First and foremost, we're absolutely thrilled to be supporting ApeCoin DAO and the entire Yuga ecosystem,” AIP-98 author, and Snag Solutions founder Zheerwagen told the Bored Ape Gazette. “BAYC is really what pulled me into NFTs and it's an honor to be building a marketplace for their collections.”

In AIP-98, Zheerwagen listed some of the features of the Snag solution’s marketplace:

“1. Leveraging @reservoir0x’s open-source, on-chain orderbook to increase openness and composability.

2. Aggregated orders from major marketplaces (OpenSea, LooksRare, X2Y2, Sudoswap, and more) to maintain a strong bridge to the rest of the NFT market.

3. Native sales in $APE with no fees to users buying and selling in $APE.

4. A .5% marketplace fee on $ETH listings and a .25% fee in $APE. .25% of all fees will be sent to a community-held multi-sig wallet on a monthly cadence. The use of funds can then be decided in a separate AIP. The .25% from $ETH will be converted to $APE and sent to the wallet.

5. Development of contextual and ape-specific marketplace functionality, such as integration of key BAYC metadata, relation to the Otherside, and more.”

As a result of AIP-98 passing, Snag Solutions will get A six-month lease on a dedicated URL pointed to its site and a link to its URL from the ApeCoin homepage along with “Twitter post(s) at launch.”, according to the proposal.

After Wednesday’s vote, Zheerwagen told the Bored Ape Gazette that he’s looking forward to launching Snag Solutions and getting input from the $Ape community.

“From here the next 4-8 weeks will be focused on implementation,” he said. “90%+ of the work is done, but we still need to go through auditing, solve for where we route funds, and work through any legal complexity alongside Cartan Group before we launch. After that I'd say the real fun begins, we'll work with all of you to identify, design, and prioritize the most important features to launch specific to the Yugaverse. We put some early ideas on user experience elements in the proposal but are excited to hear from the community!”

The Bored Ape Gazette will continue to follow Snag Solutions and will let you know more about the marketplace as more information becomes available.

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