How to Create an ApeCoin DAO Ape Improvement Proposal

How to Create an ApeCoin DAO Ape Improvement Proposal

This how-to-guide will help you create an ApeCoin DAO Ape Improvement Proposal (AIP) in just five steps.

AIPs are a way for the APE community to govern itself via a decentralized autonomous organization (DAO). Each proposal goes through a strict filtering process before it is voted on by the members of the ApeCoin DAO.

Proposal submissions, commentary, and votes are all reserved for ApeCoin DAO members. To become a member of the ApeCoin DAO, you have to hold at least one APE, Bored Ape Yacht Club’s native utility token

 

ApeCoin DAO Governance AIP Proposal Step-by-Step Guide

Below is a five-step guide to creating and submitting a successful ApeCoin DAO AIP.

 

1. Choose a Proposal Category

The first step to creating a successful Ape Improvement Proposal (AIP) for the ApeCoin DAO is choosing a proposal category.

There are three main categories to choose from: Core, Process, and Informational.

The core proposals are further broken down into two categories: ecosystem fund allocations and brand decisions. The ecosystem fund allocations category is for proposals that determine how the DAO’s war chest should be utilized. The brand decisions category is more general and for proposals that determine which projects, people, and organizations the DAO should engage. Any potential collaboration should go through this proposal category.

The process proposals are for altering the current DAO structure or frameworks. It is for determining how procedures, guidelines, and decision-making processes should operate, including additions, removals, or other such alterations to these processes. 

The informational proposals are the most general. They’re for general guidelines and information for the community.

All proposal categories also have resubmission categories for any AIP that has been submitted and rejected in its current iteration. Governance members can make changes and resubmit the AIP to those resubmission categories.

 

2. Write the Proposal (Example Template)

After you’ve chosen the appropriate proposal category, it’s time to write the proposal. ApeCoin DAO has specific instructions on what a proposal should look like and all the information it must include. 

Original proposals must include: an abstract, a motivation, a rationale, the specifications of the proposal, steps to implement the proposal, a timeline, and the overall estimated costs associated with the proposal. Original proposals can also include key terms, if necessary, and additional relevant fields that help fully communicate the proposals intentions, specifics, and implications. 

Resubmitted proposal must include (in addition to the above): a link to the original proposal, the reason it was rejected, and the changes that have been made in the resubmission.

Definitions of the proposal requirements, as stated by ApeCoin DAO itself, are as follows:

  • Abstract: Two or three sentences that summarize the proposal
  • Motivation: A statement on why the APE Community should implement the proposal
  • Rationale: An explanation of how the proposal aligns with the APE Community’s mission and guiding values
  • Specifications: A detailed breakdown of the platforms and technologies that will be used
  • Steps to Implement: The steps to implement the proposal, including associated costs, manpower, and other resources for each step where applicable
  • Timeline: Relevant timing details, including but not limited to start date, milestones, and completion dates
  • Estimated Cost: The total cost to implement the proposal
  • Key Terms: Definitions of any terms within the proposal that are unique to the proposal, new to the APE Community, and/or industry-specific

Here is a downloadable example of an AIP.

 

3. Wait, Wait, and (Maybe) Resubmit

After the proposal is submitted, it’s time to wait, wait, and wait some more.

First, the AIP is reviewed by a project management team. The team must provide an AIP analysis report, which helps to ensure that the proposal is reasonable. It’ll take a look at costs, steps to implement, legal considerations, third-party review requirements, conflicts of interest, and more. 

Next, the AIP and the analysis report are reviewed by another team. This is to ensure the AIP adheres to the DAO-approved guidelines. If the proposal is rejected, it can be resubmitted with minor alterations. If the proposal is accepted, it moves onto the next step.

Once the proposal passes the analysis report and the moderator review, it is sent for post-moderation tagging. It can be tagged “straight to vote” or “needs administrative review.” If it is tagged with the latter, it enters administrative review.

Administrative review helps to determine if the AIP is a risk for the ApeCoin DAO. This could be related to costs, conflicts of interest, questionable content, etc. While in administrative review, the AIP can be tagged for return. If it is returned, it will be returned for clarification or reconstruction. 

Reviews for return can include but are not limited to: unclear costs, use of more than 5 percent of the DAO treasury, conflicts with other proposals, non-adherence to the DAO’s missions and values, violations of law, legal concerns, and reasonable suspicion of fraud. 

If the proposal is tagged “straight to vote,” it moves to step four below.

 

4. Get Approved in Discourse

Once the above-mentioned processes are completed, your AIP will be either approved or denied in Discourse. If moderators decide it complies with DAO-approved guidelines, a seven-day feedback window opens. 

Once this feedback window is closed and the AIP is not rejected, it receives a number for identification purposes. The AIP will now be referred to as “AIP-1: [Name] - [Category].” In the example PDF above, this would look like: AIP-1 Help Save Monkeys, Apes, and Gorillas - Core.

 

5. Snapshot Voting and Implementation

Once the AIP is approved, it will go live on Snapshot during the next weekly AIP release, which is currently held on Thursdays at 9 p.m. ET. The AIP will be voted on for a week until Wednesday at 9 p.m. ET.

If the AIP does not get any votes, it will be tagged “stalled” and eligible for resubmission. Rejected AIPs can also be resubmitted via the resubmission template. Accepted AIPs move into the implementation phase.

The implementation phase will follow the implementation steps outlined in the proposal. Your proposal is approved and being carried out by the ApeCoin DAO. Congratulations!

 

ApeCoin DAO Guiding Values

The ApeCoin DAO has five guiding values: boldness, equality, transparency, collective responsibility, and persistence. Definitions of what those values mean, according to the ApeCoin DAO itself, are as follows:

  • Boldness: We don’t shy away from the weird, the hard, or the new.
  • Equality: One APE equals one APE.
  • Transparency: Processes and decisions are shared openly with the community.
  • Collective Responsibility: We leave everything better than we found it.
  • Persistence: Success is an ouroboros, not a straight line.
 

ApeCoin DAO Frequently Asked Questions (FAQs)

Below are a few of the most commonly asked questions about the ApeCoin DAO.

 

Who serves as the ApeCoin DAO Special Council?

Each year, there will be a vote to determine the special council members on the APE Foundation DAO Board.

 

Can a member of the APE Foundation DAO Board be removed or replaced?

Yes, members of the APE Foundation DAO Board can be removed or replaced prior to the end of the members’ terms by majority vote.

 

What happens if a submitted proposal conflicts with a current proposal?

The conflicting proposal will not go up for vote until a decision is made regarding the first proposal. This removes the possibility of approving opposing proposals. If the submitted proposal passes, the conflicting proposal must wait three months to go live.

 

What happens if a proposal involves illegal activity?

It will be rejected by the ApeCoin DAO Special Council. Proposals must not include illegal activities, hate speech, pornographic materials, or be at odds with the mission or values of the ApeCoin DAO.

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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