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  • Writer's pictureKyle

This AIP Aims To Increase Ecosystem Fund Allocation Transparency

There is an Ape Improvement Proposal on the ballot this week that aims to increase funding transparency at the ApeCoin DAO.

AIP-121 titled “Transparency Act For Ecosystem Fund Allocation” is a process proposal written by Bored Ape Yacht Club member Giacolmo.

As the ApeCoin DAO votes on all sorts of ecosystem initiatives, Giacolmo is proposing more transparency in the process.

“This proposal wishes to increase the transparency of AIPs involving Ecosystem Fund allocation, enhance the voting process and standardize periodic reporting,” Giacolmo wrote. “$APE treasury will be better safeguarded with: additional accountability for teams requesting for funds; costs clearly stated in Snapshot for an easier voting experience; monthly public reporting on treasury use.”

In AIP-121, Giacolmo proposed three things that the Cartan Group and the Ape Foundation can do to increase ecosystem fund allocation transparency:

1. Cost disclosure: APE Foundation / Cartan Group will modify the contents visualized in the Snapshot voting page, adding the Overall Cost.

2. Team members: APE Foundation / Cartan Group will modify the template provided to AIP proposers when drafting Ecosystem Fund Allocation AIPs, mentioning the compulsory nature of Team Members description. Furthermore, and more importantly, APE Foundation / Cartan Group will monitor the providing of such information.

3. Monthly reporting: APE Foundation will publish via Apecoin DAO Twitter’s page, monthly reporting on funds allocation for each approved AIP.

Giacolmo’s AIP will not cost the ApeCoin DAO anything and they believe that this proposal could be implemented within two weeks of its passing.

$Ape holders will have until next Wednesday, November 23rd, to vote on AIP-121. The Bored Ape Gazette is working to bring you additional coverage on this AIP. Stay tuned for updates!

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