Profile of Sasha in ApeCoin
Posts by Sasha
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AIP-441: Protect Treasury - Lock Up 20% as BTC for 3 years
by Sasha - No Role
Posted on: May 31, 2024, 2:50 p.m.
Content: Timing the market with DAO funds is about the dumbest and most irresponsible thing one can do. Might as well throw it all on black.
You’re objectively wrong that BTC is correlated to APE on any timeline long enough to be worth talking about. This proposal locks funds for 3 years. Look at 3 -year graph of Ape re: BTC and show me any correlation whatsoever. APE is down to the right, BTC is up to the right. Literally opposite directions.
ApeChain should help, but that’s speculation. The point of this proposal is to hedge against speculation.
Likes: 0
Replies: 0
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AIP-441: Protect Treasury - Lock Up 20% as BTC for 3 years
by Sasha - No Role
Posted on: May 31, 2024, 1:28 p.m.
Content: This proposal is just like Bitcoin - it doesn’t care. Not about other communities. Not about bull market. It exists to offer a historically-sound solution for an ever-decreasing treasury. I don’t have a magic 8 -ball, but I can zoom out and check the graphs.
Sell pressure: there will be little to none if we sell OTC, the preferred (and first advised) method - APE will just change hands from DAO to whoever sells us BTC. The retail sale, if we can’t find some degen betting on APE outperforming BTC in the short-term and willing to sell OTC, would also be split up into several chunks across a few months, so the impact will be cushioned decently well. But frankly long-term it’s all inconsequential. If someone has short-term concerns, they’re not seeing the entire point of this proposal, which is to detach a chunk of treasury from any and all short-term concerns of which there will always be some. That’s the whole point - we do this once and we don’t have to care as much about APE going up or down on a weekly basis.
T-Bills suck, they don’t grow in value faster than inflation. Bitcoin does.
With that said, cheers! Vote your heart. As the author, I really don’t care if this passes or not as I benefit zero from this. It just seemed like a good idea so I sent it in. I’d like to see the DAO be around and thrive in 5 years. 20 % leaves us with 80 % to lose our minds over while giving some peace of mind, too. Hell, if it were up to me, I’d lock up 50 % in BTC long time ago.
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AIP-419: Expansion of ApeChain Presence in Key Asian Events
by Sasha - No Role
Posted on: May 6, 2024, 1:10 p.m.
Content: beyond insane numbers, feels like a pure scam to me
330 k for marketing materials? Are they printed out of GOLD?! what the actual heck
Flights in Asia are SUPER cheap. It’s like $ 300 to max to fly between almost any 2 cities in SEA. Ok 500 if you wanna swing over to Japan, and that’s round-trip. In what insane world do you need 100 k for flights?!
please vote no on this highway robbery, I’ve never seen a bigger waste of money
Likes: 6
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AIP-441: Protect Treasury - Lock Up 20% as BTC for 3 years
by Sasha - No Role
Posted on: May 6, 2024, 12:05 a.m.
Content: PROPOSAL NAME:
Protect Treasury - Lock Up 20 % as BTC for 3 years
TEAM DESCRIPTION:
ApeCoin Foundation will be implementing this proposal, but since this field is required: I’ve been an ape from Aug ' 21 to summer ' 23 , @nftsasha on Twitter, attended all three ApeFests, and ran in a few DAO elections. Now working on Unchained game with a few folks, which we hope to bring to ApeChain :slight_smile: (self-promo, let’s gooo).
PROPOSAL DESCRIPTION:
To future-proof part of treasury against accidental or organized drainage and as a step to diversify treasury, ApeCoin DAO Foundation will create a BTC wallet and convert 20 % of treasury reserves into BTC. Not only is this probably a smart move financially (historically, BTC has far, far outperformed APE), and thus potentially one of the easiest yields for the DAO, it’s also an insurance policy. Having less available treasury for 3 years (though still very substantial) will help us think more carefully about spending on a per-AIP basis.
For simplicity of calculation, 20 % means 20 % of USD value of all DAO reserves on the day of this proposal going up for a vote (maximum 60 , 000 , 000 APE) minus any amount already approved/earmarked for previously-passed proposals.
Example: the reserves on hand on the day this AIP goes up for a vote are 1 M when converted to USD (using that day’s market price). The DAO approves proposals with total cost of 100 K during the same voting period. We then calculate the 20 % as 20 % of 1 M, not 20 % of 900 thousand.
The Foundation is prohibited from swapping the BTC for any other tokens or spending any of the BTC during this 3 -year term. The BTC could be held in any wallet(s) the Foundation deems appropriate for the 3 years, provided that the Foundation or its assigned representatives maintain control. These restrictions could be overridden by a future AIP.
BENEFIT TO APECOIN ECOSYSTEM:
Save 20 % of Treasury from potential drainage and, possibly, grow the treasury by selling BTC at a higher price 3 + years down the road. The underlying assumption is that if BTC fails, everything fails; is there really a world where APE thrives but BTC is in the gutter?
DEFINITIONS:
OTC - OTC Trading, is a framework of financial technology that enables trading markets outside a regular exchange. Specifically, within the crypto and bitcoin market, it is a private trading market for buying or selling crypto.
DEX - A decentralized exchange (or DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto’s core possibilities: fostering financial transactions that aren’t officiated by banks, brokers, or any other intermediary.
CEX - A centralized exchange (CEX) is a type of cryptocurrency exchange platform. CEX platforms maintain an order book for buy and sell orders between traders. All orders are trade requests for a certain amount of a cryptocurrency set at a specified price.
STEPS TO IMPLEMENT:
ApeCoin Foundation buys BTC with 20 % of Treasury funds upon proposal approval via either:
OTC, to avoid market price impact on $APE (preferred method)
or
weekly purchases spread over 3 months to minimize $APE price impact ( 19 to 20 total transactions); the daily volume for $APE is ~ 50 M USD, or 350 M / week, so this weekly operation would account for ~ 1 . 5 % of avg daily volume.
I estimate OTC fee (or dex/cex fees) to convert APE to BTC to be below <$ 5 , 000 , or 1 / 20 , 000 th of the amount of APE to be converted by this proposal, i.e. less than 0 . 005 %.
Regardless of implementation method, the 20 % (maximum 60 , 000 , 000 APE) is calculated as indicated above and earmarked at the time of proposal approval.
The 3 -year lock-up period begins on the day of the last transaction, i.e. when the full 20 % are converted.
REPORTING EXPECTATIONS:
Report total cost of implementation and date of completion of implementation once the proposal is fully implemented as a reply to this thread or a central reporting thread on these forums. If the proposal is not fully implemented 4 months after this AIP is passed, report why, % completion, and steps being taken to mitigate.
RISKS:
It’s possible that ApeCoin price will increase faster than BTC price. This risk if for you, the DAO, to decide on. Historically, quite the opposite has been the case. Please keep in mind that ~ 80 % of Treasury will remain unlocked, so the real question is - should we risk everything we have on $APE price fluctuations, or hedge our bets by locking up some of it in BTC?
OVERALL COST:
Total amount requested from the ApeCoin Ecosystem Fund = Up to 60 , 000 , 000 ApeCoin + $ 5 , 000 USD.
20 % of treasury estimated to be 60 , 000 , 000 APE
OTC/DEX/CEX fees estimated to be $ 5 , 000
Likes: 2
Replies: 1
Replies:
- CryptoLogically: Sasha:
1M ApeCoin, and 100M of those are earmarked/committed
Do you mean “100k” here?
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AIP-438: ApeCoin Ventures
by Sasha - No Role
Posted on: May 2, 2024, 10:04 a.m.
Content: :+ 1 : :+ 1 : :+ 1 : :+ 1 : :+ 1 :
(needed 20 chars)
Likes: 1
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@Sasha - Special Council Nomination 01/2024
by Sasha - No Role
Posted on: Nov. 29, 2023, 7:25 p.m.
Content: thank youuuu J, but see my explanation above. Hope you’ve been well.
Likes: 1
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@Sasha - Special Council Nomination 01/2024
by Sasha - No Role
Posted on: Nov. 29, 2023, 7:24 p.m.
Content: Thank you, Zloj, and sorry for delay in replying! I took a step back to focus on my own project. I wouldn’t mind putting it aside for another year had the list of SC candidates been thin for some reason, so I submitted the app just in case. But the list is strong, and that’s great!
If my project doesn’t work out, I can come back to the DAO and maybe try my luck in the next election. Until then - I wish everyone here the best!! All of you putting hours of unpaid time into governance are heroes, and while the ship is slow, every little peck makes a bit of difference.
Have a great election and happy holidays! < 3
Likes: 2
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AIP-373: Boring Security - Runnin’ It Back
by Sasha - No Role
Posted on: Nov. 17, 2023, 7:25 p.m.
Content: Class 102 alumni here, amazing program. This better pass with flying colors or :hocho:
Likes: 4
Replies: 1
Replies:
- Feld: We tryna pass with FLYING FOKIN CARPETS, MATE!
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Learning about the $Ape Assembly.. and how to join!
by Sasha - No Role
Posted on: July 19, 2023, 6:15 a.m.
Content: Mmmm I like ASSembling
Likes: 5
Replies: 1
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- SeraStargirl: Four bonks for you ser * bonk * * bonk * * bonk * * bonk *
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AIP-297: An NFT Community Vault Operating as an ApeCoin Sister DAO with a Goal to Advance the Mission and Influence of ApeCoin
by Sasha - No Role
Posted on: July 13, 2023, 5:46 a.m.
Content: Aman, welcome!
amanbehumble.moca:
However, if we have a good committee that can leverage the purchase from our Vault to do certain outreach and joint-community activation , certain connections can be made while onboarding more active members from other NFT community to $APE community.
This is great. And, it is already being done by many owning assets. Do you feel that Animoca, one of the most-connected entities in the entire web 3 space, needs to show 10 cool cats in a wallet in order to collaborate with Cool Cats, with whom they’re already working on a video game and whose assets they already own? Or perhaps that Cool Cats would say no to such collaboration unless this DAO holds a few cats? It feels that any collaboration would be judged on its merit, not wallet content. I.e. CCs won’t think, “This collab isn’t beneficial to us, but I see you own 10 cats, so let’s do it!” This is the part that I feel needs clarification with perhaps specific examples of types of collabs and their expected impact.
amanbehumble.moca:
making the Vault rentable will definitely increase APE utility.
The DAO cannot make any profit currently. This might change; it might not. When it does change, this definitely becomes a consideration then as you’re saying. Until then, we’d be voting on pure speculation in this specific regard.
Likes: 7
Replies: 1
Replies:
- Tyler_Durden: The spirit of this proposal is not to hold 10 Cats so Cool Cats work with us. Animoca Brands is already working with Cool Cats from all fronts directly with the project itself, however by owning the Cool Cats, $APE community would also have the license rights to use Cool Cats to build products for any $APE sinks in the future.
This is to open the door for the broader web3 community to think that it’s actually possible for $APE to empower any other web3 projects beyond Yuga Labs products.
This is not the one final answer to spreading $APE influence to beyond Yuga Ecosystem, but it’s the start and also a framework to expand on.
