This AIP Proposes That The ApeCoin DAO Fund The Public Good And Open-Sourced Building

There’s an Ape Improvement Proposal on the ballot this week that aims to make the ApeCoin DAO a leader in funding the public good and encourage open-sourced building.

AIP-96 titled “Funding For Public Goods (EthGlobal& Gitcoin)” is an ecosystem allocation fund written by ApeCoin Special Council Member Maaria Bajwa.

In AIP-96, Bajwa proposes that the ApeCoin DAO fund established events and organizations, such as EthGlobal and Gitcoin, that foster the public good.

“By participating in these programs ApeCoin also has the opportunity to fund public good efforts within the broader crypto ecosystem,” Bajwa wrote. “The space is still so early that we need to encourage open source building that others can leverage. We need to encourage continued innovation and building in the space, and this is an opportunity for us to support those contributors who are pushing us forward.”

In total, Bajwa is asking the ApeCoin DAO for $200,000 USD worth of $Ape to make the following contributions:

1. $45k to participate in the ETHOnline hackathon ($35k sponsorship fee + $10k in prizes)

2. $100k for funding a dedicated Gitcoin ApeCoin ecosystem program

3. $50k for funding Gitcoin’s Climate, DEI, and Advocacy program

4. $5k to donate to another community at ETHOnline. We can match funding, sponsor a prize pool, or donate it to cover expenses for low-income community members.

“By participating in ETHGlobal hackathons and creating a Gitcoin ecosystem fund, ApeCoin is participating in the collective efforts that will continue to push the entire cryptocurrency ecosystem forward,” Bajwa wrote. “There are many L1s and DeFi protocols that already participate, but participation from the NFT community is still relatively nascent. Grant funding will encourage developers to build new applications for the NFT community, which should be a major objective of ApeCoin DAO.”

The Bored Ape Gazette will continue to follow AIP-96 and will bring you a follow up interview with the Bajwa soon. Stay tuned for updates!