This AIP Aims To Reward A DAO Contributor For Optimizing The Staking Contract's Gas Fees
There is an Ape Improvement Proposal on the ballot this week that aims to reward a DAO Contributor with a Bored Ape after they optimized the staking contracts gas costs.
AIP-161 titled “A Reward Proposal for Staking Contract Gas Optimization Contribution,” is an ecosystem fund allocation proposal written by DAO Contributor Codeislight.
In AIP-161, Codeislight included a chart that showed the gas savings that their optimized contract had compared to the unoptimized one. The ApeCoin DAO is currently utilizing Codeislight's optimized contract, according to the proposal.
“Gas fees saving currently might be insignificant that can be amounted from few cents to few dollars, but considering the magnitude of the Apecoin users and the times when the Ethereum network has higher demand for block space (higher gas prices) similar to the ones of 2021 craze, then it would definitely make a significant difference,” Codeislight wrote.
Further, Codeislight estimates that their contract optimization will save the $Ape community $934,000 USD in gas fees over the next 3 years.
As a reward for their contribution to the DAO, Codeislight has asked the community to reward them with a floor priced Bored Ape.
“Proposed reward is a floor BAYC, equivalent to 10% of the funds saved upfront," Codeislight wrote. “It would be HODLed and staked to earn $APE rewards.”
Codeislight has also taken to Twitter to further explain the contribution they made to the DAO. Check out their thread here:
The window to vote on AIP-161 opens tonight at 9 P.M. EST. $Ape holders will have until next Wednesday, January 18th, to cast their $Ape!