This AIP Aims To Keep The Boring Security DAO Funded "For The Long Haul"
Boring Security, “a not-for-profit DAO that provides free classes, resources, and a place for everyone in NFTs and web3 to go to learn the things needed to stay secure,” has its second Ape Improvement Proposal on the ballot this week that includes a plan to keep the project funded and self-sustained.
AIP-133 titled “Boring Security- For the Long Haul,” is an ecosystem fund allocation written by longtime Bored Ape Yacht Club member Feld.
In AIP-133, Feld explained what he and the Boring Security DAO did with its first round of funding and the impact that the not-for-profit DAO has had on the Web3 space.
“We requested 6969 Apecoin in our initial grant proposal to help facilitate our first 3-6 months of operations,” Feld wrote. “Since then, we’ve built up strong partnerships, picked up amazing contributors, and have our sights set on being an integral part of web3 education for the long-term. So far, we think we’re off to a pretty strong start! We have executed several partnerships, as well as plans to expand our content to five languages by the end of the year. We have a guiding principle of inclusivity and diversity and want web3 to be built and enjoyed by everyone, not just those with expensive monkey jpegs!”
See Feld’s breakdown of what the Boring Security DAO has accomplished with its initial round of funding:
Further in his proposal, Feld estimates that the price to keep the Boring Security DAO operating, and to expand on its goals, will be $10,000- $11,000 USD per month.
However, instead of asking the ApeCoin DAO for the money each month, Feld has pitched a “Treasury Strategy” that he says will generate $18,000 USD per month.
Take a look at Feld’s full “treasury Strategy” below:
“We will be deploying a 3-pronged liquidity provision approach to our strategy that keeps us heavily aligned & exposed to $APE," Feld explained. "We believe that liquidity across DeFi is important, and Feld is a proven DeFi expert and liquidity provider with Apecoin, having managed $10mm+ position with the ApeDAO and $500k-$2mm positions personally. Feld’s current Apecoin liquidity position is one of the top all-time performers for a wide band position."
Uniswap position for mrbayc.eth (Feld) on revert.finance
“A big part of this strategy is to not only allow the DAO to generate fees and provide valuable liquidity provision service to Apecoin, but it deleverages the DAO from price risk of APE & ETH respectively. Though this is subject to change, this is our initial strategy for liquidity deployment at the time of this writing:
UNIv3 Strategy - Initial Capital Deployment
In total, Feld and the Boring Security DAO are asking the ApeCoin community for $420,696.90 USD.
$380,000 of that will go towards funding the group's Treasury Strategy, $26,109.41 will go towards paying back Boring Consulting (Feld) for out-of-pocket expenses, and $13,987.49 will go towards immediate partnerships and promotion use (Ledger, etc.), according to the proposal.
$Ape holders have until Wednesday December 7th at 9 P.M. EST to vote on AIP-133. The Bored Ape Gazette will continue to follow this proposal and will let you know the results of the vote.