Profile of Amplify in ApeCoin
Posts by Amplify
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AIP-454: The BANANA Bill: Apes Gotta Eat
by Amplify - Accepted AIP Author
Posted on: June 13, 2024, 8:38 p.m.
Content: redacting my previous comment
Likes: 8
Replies: 0
No replies yet.
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AIP-442: Grant Ships: Accelerating ApeCoin’s Ecosystem Evolution
by Amplify - Accepted AIP Author
Posted on: April 26, 2024, 11:10 a.m.
Content: Hey Grant Ships team! :wave:
Thanks for putting this back up! I’m happy to see other teams proposing alternative platforms for funding quality ideas! I’ve long been of the position that we aren’t really a “DAO” until we democratize access to capital, and unfortunately (despite my best efforts) our AIP process became slower and even more burdensome for authors this year.
I hope Grant Ships can serve as a fun additional pathway for APEs with good ideas. :slight_smile:
Likes: 5
Replies: 2
Replies:
- UI369: Hello, Matt here with the DAO Masons team. Thanks for the invite to continue the conversation, you guys have been great. I wanted to emphasize a few key points from the original post.
Previous Thread: The previous forum post that Chris linked has a lot of great Q&A on it that is worth looking at for additional context.
Primary Benefit to ApeCoin: The main benefit I see for ApeCoin DAO using Grant Ships is speed through delegation. You can use it to target multiple smaller projects without doing an AIP for each one. Grant Ships is a governance system for grants disguised as a game. So if you fund it and authorize this ruleset for handling grants, you’ll have trusted teams within your DAO distributing funds in no time - securely, transparently and with functional accountability.
Beta Test: We are currently running our beta test, distributing 90,000 ARB for “Gaming in Arbitrum”. Scoping out our beta test (and potentially getting involved) would be a good way to understand what Grant Ships is offering. That 90K is available to anybody building games and game tooling on Arbitrum, so if that’s you… https://app.grantships.fun
Ape Ships Test Container: We set up an “Ape Ships” instance of Grant Ships on Arb Sepolia testnet as a demo. Feel free to click around and submit whatever you want there. If you’d like Operator permissions just let me know and we’ll assign you a Hat so you can see how that part of the app works. https://ape.grantships.fun/
We’re excited about what we’ve built here because it really does solve a specific pain that we’ve felt in every DAO we’ve been in (How to give solid, quick, accountable grants?) and we’re getting good feedback and momentum from the community. It would be really awesome if this is a fit for ApeCoin and I hope we can find a win/win so you can put it to good use and have the support for ApeChain infra there when you need it.
Our proposal is here as a starting point, please share your questions/concerns and we’ll do our best to accomodate. Thank you!
- boiler: Thanks for the comment @Amplify
I really want to emphasize that a major part of the funding in this proposal goes directly back into the community through projects that build on Ape Chain. The rest of the funding would be deployed to build a customized version of the Grant Ships dApp and in making the application as robust as possible.
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AIP-421: Enable Annual Working Group Budget Proposals
by Amplify - Accepted AIP Author
Posted on: April 12, 2024, 1:46 a.m.
Content: Hey Lost!
With all the Working Groups having a multisig / entity that turns over with new Stewards, I don’t see the reason to align the budgets with election timing. I think the convenience of giving new Stewards one month into the new year to author their budget just makes sense, and no reason for leaving it at a 1 year budget other than to allow the DAO a renewed voice in budget decisions every fiscal year. =)
A Working Group could very well request a multi-year budget, the DAO would just expect that budget proposal to be published on the forum within a funding window so that there is still some predictability and structure to it. :slight_smile:
Likes: 4
Replies: 0
No replies yet.
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AIP-421: Enable Annual Working Group Budget Proposals
by Amplify - Accepted AIP Author
Posted on: April 12, 2024, 12:40 a.m.
Content: PROPOSAL NAME:
Enable Annual Working Group Budget Proposals
PROPOSAL CATEGORY:
Process
TEAM DESCRIPTION:
Gm, Amplify is an Ape who has authored and passed many AIPs in the past. This AIP serves to correct one of his mistakes.
ABSTRACT:
AIP- 239 states:
“To request Working Group funds, Leads of each Working Group will submit Ecosystem Fund Allocation Proposals, as defined in AIP- 1 Proposing the DAO (‘Ecosystem Fund Allocation Proposal’) in the form of a Working Group Budget Proposal within the final 15 days (inclusive) of the months of, February and August each calendar year (each a ‘Funding Window’).”
This AIP, if passed, would simply afford Working Group Leads the flexibility to submit budgets for a term of their choosing (not limited to 1 year), regardless of whichever Funding Window they choose.
BENEFIT TO APECOIN ECOSYSTEM:
This AIP would serve to reduce voter apathy and administrative overhead.
KEY TERMS:
Working Group Budget Proposal: A budget proposal submitted to the DAO by the Lead of any Working Group in order to fund the execution of their charter or larger initiatives.
STEPS TO IMPLEMENT & TIMELINE:
Upon approval, this AIP would allow Working Group Leads to submit budgets for a term of their choosing during a funding window of their choice.
OVERALL COST:
None
Likes: 2
Replies: 4
Replies:
- CryptoLogically: Amplify:
STEPS TO IMPLEMENT & TIMELINE:
Step 1: Get through Admin Review
Step 2: Pass the AIP
Step 3: ???
Step 4: Profit
The South Park reference… [chef’s kiss]
Classic
- Lost: Amplify:
This AIP, if passed, would simply afford Working Groups the flexibility to author their budget proposals for up to 1 year, regardless of whichever Funding Window they choose.
Hey @Amplify !
It seems like this new criteria would aim to align specifically with the term length for Stewards, but since the elections are staggered, this doesn’t necessarily line up with term lengths.
Is there another reason for the 1-year suggestion?
Is there some reason to maintain any barrier for Stewards to propose a longer, multi-year, budget?
- furiousanger: Amplify:
This AIP would serve to reduce voter apathy and administrative overhead.
Apecoin’s main (some would argue its only) purpose is voting.
Budgets act as much more than a request for money.
How you originally set this up with the six month stipulation works perfectly for all stakeholders imo.
Thanks.
- MemeBrains: Amplify:
This AIP, if passed, would simply afford Working Groups the flexibility to author their budget proposals for up to 1 year, regardless of whichever Funding Window they choose.
This makes 100% senes
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AIP-396: LFG VENTURES presents: Made by Apes - Powered by ApeCoin
by Amplify - Accepted AIP Author
Posted on: Jan. 23, 2024, 11:57 a.m.
Content: Hey @buuvei!
So we’ve intentionally left out APE staking from this proposal as it is primarily dilutive to the rest of the community and doesn’t serve to add any real value. :slight_smile:
In terms of a benchmark though, currently staking APE returns about ~ 18 - 25 % so I do think it serves as a fairly good benchmark for us to aim for!
Likes: 7
Replies: 0
No replies yet.
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AIP-396: LFG VENTURES presents: Made by Apes - Powered by ApeCoin
by Amplify - Accepted AIP Author
Posted on: Jan. 22, 2024, 7:51 p.m.
Content: Hello! I thought I’d take this opportunity to provide some additional information about our DeFi strategy and investment focus, as well as an FAQ to help answer some questions. :blue_heart:
Investment Focus:
The Made by Apes - Powered by ApeCoin™ initiative recognizes the diversity of opportunities within the web 3 ecosystem. We understand that our investments may span a range of categories, including lifestyle businesses, technology, software, and protocol projects. Our primary goal is to support and kickstart founders, builders, and entrepreneurs within our collaborative communities while maintaining a sustainable approach.
Investment Fund Matrix
Principal: 6 , 900 , 420 $APE
Expected Yield: 15 - 20 %
Monthly MBA Investment: $ 100 , 000
Monthly LFG Fund Expenses: $ 32 , 500
Expected Monthly Return with Managed Risk: $ 144 , 416 . 67
Net Monthly Return with Managed Risk: $ 11 , 916 . 67
If we properly manage our risk, we can expect revenue of roughly ~$ 174 , 750 USD to “rollover” into the new year, after all of our year 1 expenses, investments, and revenue.
If we can only achieve a relatively low risk adjusted return of 5 . 5 %, we will enter the new year “flat,” able to continue our initiative for another year, but without any growth.
MBA Investments: The monthly investments will be allocated to fund promising projects and businesses licensed under the Made by Apes brand.
Team and Other Expenses: The operating expenses for the initiative, including administration and management, will be covered by the yield generated from the principal amount. This aims to minimize the direct cost to the DAO.
Please note that this matrix provides a high-level overview, and the actual fund management strategy may involve more detailed financial planning and monitoring to achieve the desired objectives and sustainability of the initiative.
[details=“DeFi FAQ:”]
What is the role of DeFi in this proposal?
DeFi (Decentralized Finance) plays a crucial role in the management of the LFG VENTURE FUND. The proposal outlines the use of DeFi protocols to generate reasonable returns from the 6 . 9 million $APE grant, aiming to make the initiative self-sustainable for the DAO.
Which DeFi protocols will be used in this initiative?
We would be leveraging audited and permissionless protocols like Aave, UniSwap, MYSO, and Pendle.
Who will manage the DeFi aspect of the fund?
The DeFi Custodians team, including individuals with expertise in DeFi, such as Amplify and Dominic, will be responsible for the performance and sustainability of the grant. Dominic is a seasoned Chartered Financial Analyst (CFA) with extensive experience in fintech innovation, wealth management, and private equity. Amplify is a 5 + year liquidity provider and DeFi power user with a top 30 DegenScore and over 4 , 000 txns on his public ENS: 0 xamplify.eth. Together with our advisors, including Feld from Boring Security, we will carefully evaluate and assess every available allocation strategy for the LFG Fund.
How will the DeFi management approach ensure a sustainable initiative?
The initiative aims to use the returns generated from the principal investment in DeFi protocols to cover all investments and expenses, thereby ensuring no continued expenses.
What is the expected yield from DeFi investments?
The proposal anticipates an expected yield of 15 - 20 % from DeFi investments. This is fairly conservative given our allocation strategy, with nearly half of the grant sitting in Aave, and we like it that way.
How will the DeFi investment returns be used?
The returns are intended to fund the monthly investments in projects and businesses licensed under the Made by Apes brand and to cover operating expenses of the initiative. As the size of the fund grows, it means we can fund more MBA licensees, brands, and events within the APE ecosystem.
What is the risk management strategy for DeFi investments?
Our risk management strategy is comprehensive and thorough, and includes:
Asset and platform diversification: We’re not putting all our eggs in one basket, nor are we keeping it all in volatile assets. We’re remaining heavily diversified to minimize the impact of market volatility.
Due diligence and continuous monitoring.
Only using audited protocols.
Exploring the potential for purchasing cover for our strategies from a smart contract insurance provider like Nexus Mutual.
Maintaining yield-bearing tablecoin reserves
Managing LP risk: Providing liquidity is inherently a “short volatility” trade. We need to ensure our LP is balanced according to market volatility such that we don’t find ourselves overly long or short.
Technical and operational security: We will be using a minimum 4 / 7 Gnosis SAFE multisig.
Using sophisticated asset management techniques to establish our initial allocations: We will only use limit orders, Time Weighted Average Price (TWAP), or Volume Weighted Average Price (VWAP) orders, to minimize any volatility in the markets when exchanging assets into or out of APE.
Contingency / Emergency Planning: By keeping nearly half of our fund in stablecoins on Aave, we maintain a buffer for any unforeseen events.
How will the DeFi investment performance be tracked and reported?
The initiative will provide monthly reporting on investments, performance, and progress, with transparent tracking of funds and their sources through audited DeFi protocols.
What happens if the DeFi returns are lower than expected?
Generally, contingency plans or adjustments in investment strategies are employed in such cases.
Can DAO members influence the DeFi investment decisions?
We encourage and emphasize community engagement and suggestions, but will always take a risk adjusted outlook on any potential allocation decisions.
How does Uniswap work?
Uniswap is a suite of smart contracts utilizing idle liquidity to facilitate token swaps without the need for a traditional order book. It allows users to trade, or add liquidity to different token pairs on Ethereum.
How does Myso work?
Myso is a DeFi platform that specializes in fixed-rate lending and borrowing services. It allows users to lock in fixed interest rates for their loans or deposits, providing a level of predictability and stability.
How does Pendle Work?
Pendle Finance is a DeFi platform that enables the tokenization and trading of future yield. It allows users to lock in future yield upfront and trade these future yield tokens, offering innovative ways to hedge against interest rate volatility and optimize yield strategies in the DeFi space.
How does Aave work?
Aave is a money market protocol that enables users to lend and borrow a wide range of cryptocurrencies in a trustless environment.
Likes: 12
Replies: 0
Likers:
ssp1111,
Regan,
CryptoLogically,
dominic,
Benny,
CaptainZwingli,
Apewhale,
Cryptosheep,
doberdanny,
DerekOTB,
vitor.px,
jakjak
No replies yet.
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Tiger - Notice of Resignation Effective Jan 31, 2024
by Amplify - Accepted AIP Author
Posted on: Jan. 20, 2024, 3:46 a.m.
Content: Sad to see you go @tigerisfine, but happy to hear you will still be here! :blue_heart:
Likes: 3
Replies: 0
No replies yet.
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AIP-383: The Public Bored - MVP Launch of a Digital Billboard Network
by Amplify - Accepted AIP Author
Posted on: Jan. 7, 2024, 11:19 a.m.
Content: Great work on this @MemeBrains!
Very very cool! It’s about time we break back into the real world a little bit and do some grass roots onboarding. Love this idea. =) :fire:
Likes: 2
Replies: 0
No replies yet.
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@Amplify - Governance WG Nomination 1/2024
by Amplify - Accepted AIP Author
Posted on: Dec. 1, 2023, 9:26 a.m.
Content: Thank you so much @BoredApeG!!!
I look forward to continue to working with you regardless of the elections!! =) And good luck on your own SC campaign!! :four_leaf_clover:
Likes: 1
Replies: 0
No replies yet.
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@Amplify - Governance WG Nomination 1/2024
by Amplify - Accepted AIP Author
Posted on: Nov. 29, 2023, 8:48 a.m.
Content: And thank you everyone for your support and love!! :blue_heart:
Please also check out my campaign tweet & video for a quick tldr; on my campaign and what issues I’d like to solve in the DAO. (:clap: Thank you @LOR 3 LORD).
Check it out here:
https://twitter.com/ 0 xAmplify/status/ 1729856004047925394
Likes: 1
Replies: 0
No replies yet.
