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  • Writer's pictureKyle

TRANSITION PLAN: A Group Of $Ape Holders Have Written A Plan In The Event Of AIP-183 Being Rejected

As the ApeCoin DAO votes on a proposal to extend the Cartan Group’s administrative contract with the DAO, a group of $Ape holders have published a new transition plan that could lead the DAO in the event the community rejects Ape Improvement Proposal 183.

The ApeCoin DAO is currently voting on AIP-183 titled “Cartan’s Proven Track Record & Continued Commitment to Advancing the ApeCoin Ecosystem.” In the proposal, the Cartan Group asks the community to extend the company’s contract with the DAO for 12 months and increase the DAO’s monthly allocation to the Cartan Group from $150,000 to $250,000 +20,000 $Ape.

At the time of this article’s publication, this AIP is underwater with the ApeCoin community with 64.1% of voters casting their $Ape against the proposal.

If AIP-183 is rejected, it is unclear where that leaves the DAO going into the new year.

As the community continues to vote and debate AIP-183, Bored Ape Yacht Club member BoredApeG and a group of DAO contributors have come together to write a transition plan dubbed, “APE Foundation - Cartan Group Transition Plan for January 1, 2023.”

“Cartan Group proposing AIP-183 (expanding scope at >2x the cost) only a few weeks prior to their contract expiration, with no other alternative, is truly unfortunate,” BoredApeG wrote on the community Discourse page. “Community discussion in Discourse was open to a 3-month extension at the current rate with a reduced scope, but Cartan indicated this is not their preference. We respect Cartan’s business decision. Given the present circumstance, it is now up to the ApeCoin DAO community to provide a reasonable pathway forward.”

BoredApeG and his group of DAO contributors provided a list of 29 tasks ranging from low to high priority items that will need to be addressed with Cartan Group’s potential departure on December 31st, 2022.

While not all of these items are high priority and not all of these issues need to be dealt with before December 31st, BoredApeG and other community members identified seven “high priority” tasks that need to be addressed.

Take a look at the seven high priority tasks that BoredApeG and the additional group members identified below:

1. Gnosis Safes

2. Coinbase Prime

3. Staking for January 1, 2023

4. Accounts payable

5. Understanding regulator environment and restrictions for the Foundation.

6. Cayman Islands- Registered Office/Secretary

7. Cayman Islands- Supervisor and Director

“Requesting an extension at the current rate with reduced scope is reasonable > being forced to accept an AIP that is currently being voted down heavily, BoredApeG wrote in the Discourse comment section on his transition plan. “Otherwise, what’s the point of the DAO voting if at the end of the day we didn’t actually have a choice in the matter? Again, we did not create this problem. We were not in control of the timing when a service provider (Cartan) to the DAO submitted their AIP. Given the time constraints, the community still provided reasonable comments and they were ignored. No reasonable observer can read that AIP-183 thread and think the community did not try to reason with them. Special Council could have also mitigated this risk sooner as well. It is what it is. Out of sheer principle, how can we just accept the terms as-is? If anything, they should be at least coming back with a better offer than take it as it is. Otherwise, the DAO is moving on because it was forced to. The community can’t be made to feel bad about this situation (which is seemingly the tone being taken). Not the community’s fault whatsoever.”

The Bored Ape Gazette is working to bring you continued coverage of AIP-183 and will keep you posted on all things $Ape! Stay tuned for updates.

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