ApeCoin Town Hall Recap | DAO Grants, Efficiency Improvements

ApeCoin Town Hall Recap | DAO Grants, Efficiency Improvements

Did you miss the ApeCoin Town Hall on Wednesday, June 1? Don't worry, we've covered all the most important parts of the ApeCoin conversation below. 

Key Takeaways

  • ApeCoin and ApeCoin DAO is a currency and community to benefit everyone rather than just the BAYC community.
  • DAO needs to be flexible and have the ability to innovate
  • ApeCoin Foundation has a sizeable treasury to be used for grants
  • ApeCoin DAO encourages people to build through the grant program to create network effects
  • ApeCoin DAO Special Council member Alexis Ohanian joined giving his thoughts current stage of all DAOs
  • Community manager @futurealisha from ENS Domains spoke about long-term thinking on DAOs
  • Matt Galligan.eth - Co-founder XMTP Labs discussed room for improvement in the DAOs operations
  • Captain Trippy discussed importance of where to best educate people

ApeCoin DAO Grants

ApeCoin is the currency of the community and a culture that is meant to benefit everyone rather than just the BAYC or Otherside community. The best way to expand the ecosystem is through community building to be funded through the substantial DAO treasury holding APE coin to be used towards grants.

The grants can be both big to companies and small to individuals. Alexis Ohanian expressed the greatness of DAO will come from building community with the board will help nudge things in the right direction.

Captain Trippy stressed to encourage people to build as the more the DAO builds through the grant program, the more network effects that are created for APE.

ApeCoin DAO Efficiency Improvements

ApeCoin DAO is currently using Discourse to discuss DAO proposals and organize current proposals underway. However, Discourse and the current proposal process could use some improvements to make it more efficient.

The current process for the DAO, as it is today, takes a lot of work for the DAO board members even for simple proposals.

Matt Galligan.eth, the Co-founder XMTP Labs, suggested how the process for simple proposals should involve less work and review than big ideas that need greater scrutiny.

Matt and @futurealisha from ENS Domains spoke about the inspiration of the Nouns DAO prop house to improve this inefficiency. The prop house involves running auctions, where projects that get the most votes get the grants from the treasury. This allows for scaling up and down the funding which in turn can increase and decrease the scrutiny around an idea.

Some improvements brought up by Captain Tripping included the need to understand the big ideas Yuga is working on behind the scenes so they don’t overlap with the DAO’s big ideas.

Additionally, there needs to be a platform to educate people, and Discourse may not be the best place as it adds another layer of inbox people have to visit. It was suggested it is possibly best to have a community-led discord for various types of DAO activities such as education and more offhand discussion.

Benefits of ApeCoin DAO

The ApeCoin DAO’s mission is to expand web3 culture and create more adoption of ApeCoin. This starts with education such as the democratic incentives of DAOs.

The DAO will encourage innovation with the DAO model allowing for faster implementation of innovative ideas, while still being responsible with the DAO treasury money.

@futurealisha from ENS Domains discussed how state DAOs are in will bring in people that are adaptive and open-minded. The DAO will allow people to act boldly on ideas and then iterate and experiment on them.

There are a variety of different ways for the community to engage besides just voting and the DAO will make it a priority to show people how to utilize ApeCoin and bring more usability to the coin. Ultimately the DAO and its grant program will build infrastructure and tools that will drive ApeCoin adoption.

More about Bored Ape Yacht Club

Arguably the most successful NFT project, the Bored Ape Yacht Club (BAYC), is a collection of 10,000 uniquely generated bored apes that are stored on the Ethereum blockchain. Launched on April 23, Bored Ape Yacht Club had a mint price of 0.08 ETH and the collection sold out on April 30, 2021. Since its launch, the project has dropped multiple companion collections including Bored Ape Kennel Club, Mutant Ape Yacht Club, and Otherdeed for Otherside, and has helped onboard a number of high profile and celebrity collectors to the NFT ecosystem.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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