ApeCoin DAO Proposal Seeks $100M for User, Builder Incentives
A new ApeCoin DAO proposal introduced the Banana Program, an initiative to drive ApeChain growth through commercial agreements and user incentives.
The Deets
- Commercial Agreements: Negotiates with projects to build on ApeChain.
- User Incentives: Rewards users to boost ApeChain ecosystem.
- Revenue Redistribution: Proceeds reinvested into the program.
- Governance: Overseen by the Advisory Committee and Special Council.
The Bulk
An ApeCoin DAO proposal has unveiled the Banana Program, designed to ensure the long-term sustainability and expansion of ApeChain. The program focuses on two main initiatives: securing commercial agreements and providing user incentives. The commercial agreements will bring in partners to build on ApeChain, while user incentives will reward those engaging with the platform. Any revenue generated from these agreements will be funneled back into the program, creating a self-sustaining cycle of growth and development.
The Commercial Agreements Initiative aims to negotiate deals with companies and projects committed to using ApeChain. These agreements could include revenue shares, collaborations, and other ownership arrangements that benefit the ApeCoin DAO. Additionally, the User Incentives Initiative will offer rewards to users, encouraging them to explore and engage with various dApps on ApeChain. This initiative is structured to drive ecosystem growth by prioritizing dApps that contribute significantly to the platform's sustainability.
The Advisory Committee, supported by a Program Facilitator and a Strategic Accounts Manager, will oversee both initiatives. They will ensure that commercial agreements align with the DAO's mission and provide value to the ApeCoin ecosystem. The program's ultimate goal is to create a vibrant environment that attracts developers and projects, thereby increasing the utility and adoption of ApeCoin.
📊 By the Numbers
The Banana Program will utilize 100 million ApeCoin, more than $100 million at current ApeCoin prices.
🎤 Founder Feedback
ApeChain should have a development fund that is competitive with other ecosystems. Just look around at the activity that Optimism has been able to incentivize on their network with savvy commercial deals and programs. This bill puts a similar tool in ApeChain's belt.Greg Solano, Yuga Labs CEO
🔜 What's Next?
Based on the current timeframes, if the proposal goes to vote it could start on June 20 with voting ending on July 3. An approved proposal at that timeframe would put the program in play by July 24.
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