Profile of whosprof in ApeCoin
Posts by whosprof
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AIP-367: An Apes Gotta Eat! Pancho’s Poppin Foods
by whosprof - No Role
Posted on: Sept. 8, 2023, 8:04 p.m.
Content: Speaks to my soul. I love this idea. I spend far more than I’d like to admit on Uber Eats and would personally appreciate this sort of product.
Likes: 1
Replies: 2
Replies:
- SandmanNY: Thanks, The goal is healthy good food and making it available fast. Thinking of dropping a special early members token to help kickstart so we can roll out product in Q4.
would you consider a one time early member token?
- SandmanNY: you will love the recipes we have lined up. suitable for a luxurious yacht trip with a private chef in the galley.
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AIP-320: The Sweep: For Accelerating Web3 Gaming Adoption
by whosprof - No Role
Posted on: Aug. 16, 2023, 10:01 p.m.
Content: Thanks for the question. I wrote a couple of replies going into a bit more detail on the rationale. Feel free to give them a look and let me know what you think. What I will say is we can’t blame the underperformance of Apecoin on the bear market. We have to acknowledge the lack of proportional demand vs Ethereum and Bitcoin for example. Remember, Bitcoin is up 40 % on the year, not down. I think offering 300 Apes as prizes in Apecoin only games will drive demand for Apecoin as players buy to compete. Curious if you disagree.
Likes: 0
Replies: 0
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AIP-320: The Sweep: For Accelerating Web3 Gaming Adoption
by whosprof - No Role
Posted on: Aug. 16, 2023, 12:02 p.m.
Content: Something worth mentioning. Yes, the treasury would lose $ 9 million worth of Apecoin, but we also gain $ 9 million worth of assets that are not Apecoin. This means we would now have $ 9 million in assets to grant through AIPs that do not require the sale of Apecoin to execute. That is significant and helps to offset the effect of the initial purchase over time.
Likes: 1
Replies: 0
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AIP-320: The Sweep: For Accelerating Web3 Gaming Adoption
by whosprof - No Role
Posted on: Aug. 14, 2023, 11:06 a.m.
Content: I think the question of how this will create Apecoin demand is a fair one. I’m trying to articulate it in my previous messages but I agree it’s non obvious. Similar to the demand Wreck League mint is creating, I’d love it if we were in an environment in which there were multiple play to earn games with significant prize pools creating Apecoin demand for their mints (assuming powered by Apecoin / Apecoin only mints). I find it hard to think about a better use for $ 9 million dollars in DAO funds than incentivising new entrants to buy Apecoin to compete for valuable prizes (Ape NFTs). And yes, as a Bored Ape I’d prefer we buy Apes. My incentives there are obvious, but I also own a bunch of Apecoin and would benefit more from Apecoin pumping long term than my Ape.
As a thought experiment, do you think demand for Apecoin would be higher or lower heading into this Wreck League mint if their first tournament was giving away 10 Bored Apes in prizes? How about 100 Apes? Just using that project as an example for arguments sake.
Our treasury is in Apecoin. We have to be creative in any AIP regarding how we spend Apecoin to increase demand for Apecoin. It also seems like we can’t create profitable initiatives to take in income (not at all sure about that). We also obviously can’t simply write an AIP to sweep Apecoin with our Apecoin, we have to grant and spend it.
I very much do appreciate the feedback you all are providing, especially the constructive.
Likes: 1
Replies: 0
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AIP-320: The Sweep: For Accelerating Web3 Gaming Adoption
by whosprof - No Role
Posted on: Aug. 14, 2023, 1:30 a.m.
Content: The intent is to ultimately increase the demand for Apecoin. People need incentives to buy Apecoin and participate in the ecosystem. My idea is to create a DAO holding of Bored Ape NFTs. These NFTs can be requested through AIP proposals as an option for prizes in Apecoin games for example. They’d have to be approved in future proposals of course as a community.
How do we pass any AIP grant without using our Apecoin? If there are better ways to spend our treasury let’s get them passed together! I’m not sure why this doesn’t benefit the DAO while other AIP grants do. Plus, Bored Apes are some of the largest supporters of Apecoin and the DAO.
Likes: 1
Replies: 0
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AIP-320: The Sweep: For Accelerating Web3 Gaming Adoption
by whosprof - No Role
Posted on: Aug. 13, 2023, 12:19 p.m.
Content: Proposal Name: The Sweep: For Accelerating Web 3 Gaming Adoption
Proposal Category: Core: Ecosystem Fund Allocation
Abstract
It costs $ 9 million to sweep 100 Bored Apes and 200 Mutants. I propose we buy them, hold them in the treasury, and allow game companies to submit proposals requesting them in addition to or in lieu of Apecoin for game prizes and rewards.
Author Description
I’m an engineer by trade and I trade digital collectibles as a hobby. I’ve been a member of the Apecoin DAO since its inception and a member of the Bored Ape Yacht Club since May 2021 . I’ve spent 6 years as a product design engineer and I hold 4 design patents.
Motivation
The intent is to ultimately increase the demand for Apecoin. People need incentives to buy Apecoin and participate in the ecosystem. My idea is to create an Apecoin DAO holding of Bored Ape NFTs. These NFTs can be requested through AIP proposals as an option for prizes in Apecoin games for example. They would have to be approved for grants in future AIP proposals as a community. This way, we are not limited to granting NFTs to existing games at the time of this AIP submission.
The Apecoin DAO also gains $ 9 million worth of assets that are not Apecoin. This means we would now have $ 9 million in assets to grant through AIPs that do not require the sale of Apecoin to execute. That is significant and helps to offset the effect of the initial swap to ETH for the NFT purchase over time.
Rationale
One of the biggest guiding principles of the APE community is to drive culture forward into the metaverse. Bored Apes have stood at the forefront of driving culture forward in Web 3 . I think a DAO holding of Bored Apes allows us to offer an asset, through grants, that will motivate participation in the Apecoin ecosystem. 300 Apes as prizes creates a significant incentive to purchase Apecoin and compete in Web 3 games.
Benefit to ApeCoin Ecosystem
I’d love it if we were in an environment in which there were multiple play-to-earn games with significant prize pools creating Apecoin demand for their mints (assuming powered by Apecoin / Apecoin only mints). I find it hard to think of a better use for $ 9 million dollars in DAO funds than incentivising new entrants to buy Apecoin to compete for valuable prizes (Ape NFTs).
$ 9 million dollars was arrived upon after calculating the rough cost to purchase 100 Bored Apes and 200 Mutants. The cost of these NFTs is highly volatile so this AIP specifies a dollar amount to spend rather than a number of NFTs to purchase. The number of Bored Apes and Mutants is proportional to their maximum supply, and large enough to create attractive prize pools in the Apecoin ecosystem.
Specifications
The $ 9 Million USD in Apecoin will be transferred to a DAO controlled wallet with the same specifications as the treasury. The funds will be use to purchase the cheapest Bored Ape and Mutant Ape NFTs available to the open market utilizing the following guidance:
$ 6 . 18 million allocated to sweeping Bored Apes until funds are exhausted.
$ 3 . 82 million allocated to sweeping Mutant Apes until funds are exhausted.
The NFTs will be purchased using an aggregated NFT marketplace (i.e. Blur). Any unused funds are to be returned to the DAO treasury. These NFTs will be held by the DAO until requested by future AIPs.
Steps to Implement
Create an Apecoin DAO controlled wallet
Fund the wallet with $ 9 Million USD in Apecoin and enough ETH for a Uniswap transaction ( 0 . 01 ETH conservatively)
Swap the Apecoin to ETH on Uniswap
Utilize an aggregated NFT marketplace to purchase $ 6 . 18 million dollars worth of the cheapest Bored Ape NFTs available on the market
Utilize an aggregated NFT marketplace to purchase $ 3 . 82 million dollars worth of the cheapest Bored Ape NFTs available on the market
Return all unused funds to the Apecoin DAO
Timeline
Allow 1 week for the creation and funding of the DAO controlled wallet after the passage of this AIP
Allow 24 hours after the creation of the wallet to purchase the NFTs
Allow 24 hours after the purchase of the NFTs to return the funds to the DAO
Overall Cost
$ 9 million USD
Likes: 5
Replies: 1
Replies:
- Rubinato: I don’t see this question of sweeping BAYC/MAYC prices very well, and also how would you do that without selling the Treasury $ape?
The entire value of DAO is in $ape.
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@ThreadGuy - Nomination 7/2023
by whosprof - No Role
Posted on: May 30, 2023, 12:51 a.m.
Content: I think Thread joining the special council will drive more community engagement in the DAO and drive more constructive discussion of AIPs in his proposed spaces. Icing on the cake is it will drive attention on Twitter. More attention should lead to more adoption, which is core to what we should be striving for as a DAO. His skillset will be a valuable contribution to the 5 member team and the success of the token as a whole.
Likes: 1
Replies: 1
