AIP-377: ApeChain Bid // ApeChain A-Team - Research, Deploy, Manage ApeChain

Lumberg - No Role
Nov. 22, 2023, 9:09 a.m.

PROPOSAL NAME: ApeChain A-Team - Research, Deploy, Manage ApeChain PROPOSAL CATEGORY: Brand Decision TEAM DESCRIPTION: Nicholas Lin - Senior Blockchain Engineer, Former Ethereum Foundation developer, worked on both application and protocol layer research including Proof of Stake, EVM Clients, L 2 s and wallet. Jimmy X - Technical Cofounder of Velodrome Finance, Optimism’s # 1 DEX by TVL and Revenue. Former L 2 MEV searcher. Indigo - dApp developer, Former Lead Engineer, Olympus DAO. Fully - dApp developer, former tokenomics & mechanism design at Consensys. Former Protocol Architect at OlympusDAO. Rooter - Founder of Solend. Previously an engineer at Coinbase. Rooter wrote and audited smart contracts on Ethereum since 2017 , before jumping head-first into Solana in 2021 . Nope - CTO of Solend. Previously an AI engineer at Cruise. Nope has been writing smart contracts and running various MEV strategies since 2021 . Dasichuan - Founding backend engineer of Solend, previously early engineer at Robinhood. Exodia - Founding / lead frontend engineer of Solend. Ripleys - Former engineer at Two Sigma. Fullstack engineer, focusing on smart contracts and backend. Led development of a high performance liquidator. Jackie Lee - MAYC 2332 , web 3 game/metaverse builder at AnotherWorld.gg, Epic Games MegaGrants recipient, MIT Media Lab alum. Jack Corddry - Former Frax dev, frxETH v 1 lead, former president of Blockchain at UCLA, 2022 Paradigm fellow. David Choi - Founder at MetaStreet, VR Punk maximalist, Angel investor, MEV sniper and former crypto fund manager. Roger Hsu - Azuki 1439 , Former CEO/CTO of ThunderCore, the first EVM-compatible PoS blockchain. Bradley - MAYC 22898 , 15 + years Fintech/payments experience in TradFi and working professionally in Crypto from 2017 . Previously global head of business development for Dash Core Group ($DASH) and later co-founded and led X Marketplace, focusing on ApeCoin adoption + Yuga ecosystem. Lumberg - BAYC 4646 , Punk 8503 , DAM DAO, Project Lead at MEV Protocol, Yearn multisig signer, Abracadabra multisig signer, Arbitrum Delegate, PleasrDAO Advisory Council, MetaCartel Ventures founding member. MachiBigBrother - DeFi OG, BAYC Maxi, ApeCoin DAO Delegate and Author of AIP- 304 . The team’s engagement has no predetermined terms, as engagement is at-will for both the project and team members. Adding or removing team members will be dependent on project needs as well as team member needs, like most other projects. Changes will require majority team votes: at least two team member recommendation is required to bring in new members, and at least three team member recommendation is required to kick team members. Each team member has one vote. ABSTRACT: ApeChain is a general-purpose blockchain built for the ApeCoin community, serving NFTs, Gaming, and DeFi needs. ApeChain will provide native yield options for bridging assets to benefit users of ApeChain. ApeChain is a natural next step for ApeCoin DAO. It provides a foundation for which we can all build upon, and is the greatest opportunity to provide significant utility for ApeCoin. A successful ApeChain is far more involved then simply selecting the right technology stack upon which to build; just because it’s built doesn’t mean users will come. ApeChain needs to be easy to use, provide a full ecosystem of applications, and secure. We must appoint a team with a strong business strategy and technical competence to deploy, manage and operate ApeChain. We are the team that is the most dedicated, researched, and advanced within the ApeCoin ecosystem, and we are prepared to execute on ApeChain immediately. BENEFIT TO APECOIN ECOSYSTEM: Build out the ApeCoin value proposition with the speed, security, and low cost of a L 2 solution. Ethereum takes too long and costs too much to be a native payment vehicle for Web 3 economies. ApeChain will be the L 2 platform ApeCoin needs to serve beyond just Gaming and NFT needs, but also sets the foundation to be a leading token for the Web 3 economy. ApeChain and its associated A governance token will serve to expand ApeCoin utility through increased decentralization of ApeCoin DAO by creating a self-sustaining DAO with its own team. This serves to grow the ApeCoin ecosystem at no cost and is similar to the Maker DAO SubDAOs concept. ApeCoin will be the “hero token” of ApeChain. It will form the basis of ApeChain liquidity with major AMM pairings and allow ApeCoin holders to earn ApeChain tokens through bridging and participating in liquidity pools on ApeChain. KEY TERMS: Governance Token - A governance token is a type of cryptocurrency that seeks to democratize the management of decentralized applications (dApps) and other blockchain-based protocols. (Source: https://www.kraken.com/learn/what-is-a-governance-token) Automated Market Makers (AMMs) are a type of algorithm built on blockchain technology that automates the process of executing trades on decentralized exchanges. AMMs are an essential aspect of the growing decentralized finance ecosystem and are an innovation that reflects the core ideals of crypto. Because AMMs are built on blockchains and utilize smart contracts, trades can be conducted at any time, in a permissionless way, and for much lower fees than on a traditional exchange. When someone wants to buy or sell an asset on a decentralized exchange, they simply submit the trade to the smart contract and it’ll be automatically executed at whatever the current market price is. (Source: Fundamentals: What is an automated market maker (AMM)?) Blockchain Explorer - A blockchain explorer is a tool that enables users to navigate and review information about any public blockchain network. (Source: Blockchain Explorer Meaning | Ledger) Blockchain Oracle - Blockchain oracles are entities that connect blockchains to external systems, thereby enabling smart contracts to execute based upon inputs and outputs from the real world. (Source: What Is an Oracle in Blockchain? » Explained | Chainlink) Layer 2 - Layer 2 (L 2 ) is a collective term to describe a specific set of Ethereum scaling solutions. A layer 2 is a separate blockchain that extends Ethereum and inherits the security guarantees of Ethereum. (Source: Layer 2 | ethereum.org) Optimistic Rollup - Optimism is an “Optimistic Rollup,” which is basically just a fancy way of describing a blockchain that piggy-backs off of the security of another “parent” blockchain. Specifically, Optimistic Rollups take advantage of the consensus mechanism (like PoW or PoS) of their parent chain instead of providing their own. In OP Mainnet’s case this parent blockchain is Ethereum. (Source: Rollup Protocol Overview | Optimism Docs) OP Superchain - The Superchain is a horizontally scalable network of chains that share security, a communication layer, and an open source development stack. A permissionless system for deploying new chains to a shared network opens the door to massive scale, novel applications, and a new revenue model that rewards application developers for the fees their chains generate, and rewards protocol developers for the public goods they create. The Law of Chains ensures that the Superchain remains an open, neutral ecosystem. A commitment to the Law of Chains, alongside the likes of Base, protects shared standards for all Superchain participants. Sequencer & Sequencer fees - Compute system that executes transactions. Sequencer fees contribute to positive margins for layer 2 operators. 15 % of Sequencer fees will be added to APE/A protocol owned liquidity. 15 % will be contributed into the Superchain public goods funding, with the remaining 70 % to ApeChain Treasury. To understand more about transaction gas fees, see this article from Optimism: https://help.optimism.io/hc/en-us/articles/ 4411895794715 -How-do-transaction-gas-fees-on-OP-Mainnet-work- PLATFORMS & TECHNOLOGIES: OP stack, a standardized, shared, and open-source development stack that powers Optimism, maintained by the Optimism Collective. The team met with several potential technology solution partners, discussed strengths and weaknesses of each technical solution, and requested support from each. After much consideration, we have chosen to support Layer- 2 rollups given that Layer- 2 rollups can best attract developers to build on ApeChain. Utilizing a technology solution that is most attractive to developers is critical for the success of building a robust ecosystem of dApps on ApeChain. Optimism is the leading choice for the A-Team to deploy ApeChain, as part of the Optimism Superchain ecosystem. This will align and expand ApeChain into a large community of developers and users who believe in user protection, decentralization, and economic autonomy. In addition, the team has a vision of contributing toward the growth of the Ethereum ecosystem by becoming core contributors in the Optimism Foundation. Learn more about ApeChain on the Superchain per Optimism’s post here: ApeChain on the Superchain Based on Optimism’s post and our discussions with their team, Optimism is committed to supporting ApeChain, including a milestone-based token grant up to 10 m OP that offers ApeCoin DAO an exciting path to participate in the governance of the Superchain. Native Yielding Chain is the New Meta As demonstrated by the recent success of Blast in attracting liquidity and user growth, the value of native yielding chains are the new meta. We are partnering with MEV Protocol to provide liquid staking ETH to make ApeChain a native yielding chain. MEV Protocol Maximal Extractable Validator Protocol is a system of products built to maximize value creation across the validator value chain. MEV Protocol’s first product, the Ethereum Liquid Staking Token mevETH, offers the best value for staked ETH. Via a novel market design for blockspace allocation and blockspace futures, mevAuction will lead the way in creating new value. DeFi Primitives: Lending Lending is a fundamental DeFi building block that ApeChain needs. We are working with MetaStreet to bring in NFT lending as part of the ApeChain launch. MetaStreet MetaStreet v 2 aka “The Automatic Tranche Maker” (ATM) is a permissionless lending protocol for on-chain collateral. Pools are organized by automatically tranching capital based on different risk and rate profiles from depositors, which turns into fixed-duration loans for borrowers. The main goals of The ATM is to improve on three shortcomings of existing lending protocols: Oracleless: Remove the dependency on a centralized price oracle for loan to value limits Dynamic Interest Rate Model: Replace a fixed, governance-driven interest rate model with a dynamic, deposit driven one Permissionless: Allow users to instantiate a lending pool for any collection permissionlessly Additional Platforms & Technologies: Block explorer, such as Blockscout or Etherscan, or good open-source alternatives like Otterscan. Oracles, such as Chainlink, Pyth, Redstone, or Supra. Account Abstraction, ERC- 4337 ApeChain will need this key feature in order to onboard users in a more user-friendly manner. Specifically, the process of installing a wallet and managing its private keys is challenging for users that are new to web 3 . ApeChain needs to embrace these UI/UX upgrades to better support Gaming on ApeChain. To learn more about Account Abstraction, see this guide from Cointelegraph: https://cointelegraph.com/learn/account-abstraction-guide-to-ethereums-erc- 4337 -standard ApeChain Governance Tokens (A Tokens) The ApeChain governance tokens will be used to govern ApeChain. A tokens will be distributed to ApeCoin holders that stake their ApeCoins. Initial ApeChain token distribution will be as follows: 83 . 75 % for ApeChain Treasury 15 % for staked ApeCoin, distributed over 3 years: 7 . 5 % in year 1 , 5 % in year 2 , 2 . 5 % in year 3 1 . 25 % for the first 6 -months contributors/team ApeCoin holders who stake their ApeCoin and/or bridge ApeCoins into ApeChain will be able to continue voting for ApeCoin DAO AIPs with their ApeCoins. As a part of this proposal, we propose adding ApeCoin on ApeChain to snapshot strategies to allow participation of continued participation in ApeCoin DAO and AIPs. The initial distribution of the ApeChain governance token will be distributed to ApeCoin holders who stake their ApeCoins in order to decentralize governance power to the ApeCoin community. Additionally, pending passage in ApeChain governance, ApeChain tokens may also be distributed to ApeCoin holders that bridge ApeCoins to ApeChain and add liquidity to major pairings such as APE/ETH, APE/USDC, and APE/A pairs. Adding liquidity to these pairs will contribute to the growth and success of ApeChain, while establishing ApeCoin as the central routing token for automated market makers (AMM). MachiBigBrother will not receive any salary, team tokens, nor compensation of any kind. STEPS TO IMPLEMENT & TIMELINE: Should this proposal pass, the team outlined in this proposal will immediately continue working with the Optimism Foundation on scoping out the ApeChain mainnet deployment as part of the OP Superchain, based on the existing testnet deployment that Jackie has already completed. The engineering team will work with the Optimism Foundation to negotiate and deploy a block explorer, at least one oracle solution, in order to support a thriving ecosystem of dApps. The business team will focus its efforts with Yuga Labs, Animoca Brands, and other game developers to bring in one to three games and NFT projects to launch alongside the ApeChain mainnet launch. Additionally, DeFi primitives of AMM, lending, and stablecoins will be deployed on ApeChain at mainnet launch. The business team will approach partners broadly on the basis of the 5 Tokenomic Pillars below: 968 × 972 165 KB The goal is to not only launch ApeChain with ecosystem partners in place, but also to continue its growth and adoption through the above framework and value creation. This means ApeChain will look to build partnerships across DeFi, including primitives such as AMMs, borrowing/lending, and stablecoins. It will work with payment processors and merchant partners/organizations such as Made By Apes to grow the use of ApeChain for payments. This will complement and further our adoption efforts in Web 3 by rounding out the value proposition to increase its use case. Target timeline for this is 3 - 6 months, with mainnet launch in Q 2 or Q 3 of 2024 . Upon ApeChain mainnet launch, the ApeChain A-Team will work with ApeCoin DAO to submit a new pull request to Snapshot to include ApeCoins on ApeChain to vote on ApeCoin DAO AIPs. OVERALL COST: No cost to the DAO. Optimism Foundation is offering to provide a grant to finance the first three years of ApeChain, based on performance metrics. Sequencer fee margins can also serve to finance ApeChain development.

The post outlines a proposal for ApeChain A-Team to research, deploy, and manage ApeChain, a general-purpose blockchain for the ApeCoin community. The team members are described, and the benefits of ApeChain to the ecosystem are highlighted, including improved speed, security, and lower costs, aligning with the Optimism Superchain ecosystem. The post details key terms, platforms and technologies, steps to implement, timeline, and overall costs, emphasizing partnerships and the distribution of ApeChain governance tokens to ApeCoin holders. If the proposal is passed, the team will work on deploying ApeChain with a target mainnet launch in Q2 or Q3 of 2024.

Likes: 6 Replies: 2

Likers: ItayuanaNunes, wappa, Kinglo88, foxSlightly, milena001, Cryptosheep
Replies:
- tlogs.eth: A decision to launch an APEchain token within the APE ecosystem should not be taken lightly. I would like to see the ‘A-team’ release a legitimate white paper detailing the proposed tokenomics of AC governance tokens if this proposal is to be taken seriously. The quoted portion of the AIP does not suffice in its current form. For instance, it is unclear if the 15% stated emissions for “staked APEcoin” refers to the APEstake protocol currently in place on Ethereum or a to-be-created staking protocol to be launched on APEchain. Would these tokens be issued in a linear fashion over each year or based on an emissions curve mirroring emission rates in place for APEstake? How will AC tokens be utilized in governance of APEchain? Will there be another DAO formed specifically for APEchain treasury governance based on AC holdings to award allocations from the 83.75%? I assume the 1.25% allocation to ‘first 6-months contributors/team’ will go to the ‘A-team’? Will there be a lockup / vesting period? With only 7.5% emitted to stakers in the first year, this would put the A-team in control of a significant amount of the circulating AC supply and allow them to own decision-making over the remaining 83.75% in the APEchain Treasury and cement control over APEchain. So many questions… let us not forget Machi’s alleged history with suspect token launches. Medium – 14 Aug 23 A Story of Machi Big Brother A Story of Machi Big Brother Reading time: 16 min read Lumberg: ApeChain Governance Tokens (AC Tokens) The ApeChain governance tokens will be used to govern ApeChain. AC tokens will be distributed to ApeCoin holders that stake their ApeCoins. Initial ApeChain token distribution will be as follows: 83.75% for ApeChain Treasury 15% for staked ApeCoin, distributed over 3 years: 7.5% in year 1, 5% in year 2, 2.5% in year 3 1.25% for the first 6-months contributors/team ApeCoin holders who stake their ApeCoin and/or bridge ApeCoins into ApeChain will be able to continue voting for ApeCoin DAO AIPs with their ApeCoins. As a part of this proposal, we propose adding ApeCoin on ApeChain to snapshot strategies to allow participation of continued participation in ApeCoin DAO and AIPs. The initial distribution of the ApeChain governance token will be distributed to ApeCoin holders who stake their ApeCoins in order to decentralize governance power to the ApeCoin community. Additionally, pending passage in ApeChain governance, ApeChain tokens may also be distributed to ApeCoin holders that bridge ApeCoins to ApeChain and add liquidity to major pairings such as APE/ETH, APE/USDC, and APE/AC pairs. Adding liquidity to these pairs will contribute to the growth and success of ApeChain, while establishing ApeCoin as the central routing token for automated market makers (AMM).
- Chris.Admin: Lumberg: Initial ApeChain token distribution will be as follows: 83.75% for ApeChain Treasury 15% for staked ApeCoin, distributed over 3 years: 7.5% in year 1, 5% in year 2, 2.5% in year 3 1.25% for the first 6-months contributors/team In the interest of clarity, the team has stated the figure of 1.25% as per AIP-377’s final draft.
MisterHype - Accepted AIP Author
Nov. 22, 2023, 9:40 a.m.

Hey @Lumberg, It’s clear that the team’s expertise and commitment are assets to $APE ecosystem, I l… Hey @Lumberg, It’s clear that the team’s expertise and commitment are assets to $APE ecosystem, I liked the fact @jackie onboard as he developed brilliant virtual world with AnotherWorld. I have a few questions to gain a deeper understanding of the proposal and its potential impact on ApeCoin’s growth: I liked the idea of ApeChain Token, the comparison to the Maker DAO SubDAOs concept provides a helpful analogy for understanding, could you provide more details on the tokenomics of the proposed AC governance token? It will be similar? While the choice of Optimism is strategic, are there potential challenges or risks associated with its implementation? The collaboration with Optimism and their commitment to supporting ApeChain, including the potential token grant, adds a compelling layer to the proposal. I’m supportive of this initiative and would like to see where I can help. Stay Hyped! -Mr. Hype :fire:

Likes: 7 Replies: 1

Likers: jackie, Raymond, 0xsteamboat, MemeBrains, 0xAndy.eth, Lumberg, Cryptosheep
Replies:
- jackie: Great to see progress toward an ApeCoinDAO-governed ApeChain AIP @Lumberg + Machi and thx for having me as part of the A-Team so that I can contribute more!! thx for the mention @MisterHype! This is jackie reporting from the metaverse frontline. I have been imagining (and building) a virtual world where apes are shaping the future of the NFT and web3 culture with IPs and entertainment. An ApeChain will potentially anchor the ape culture and attract devs to build dApps to expand this virtual world. Optimism has a unique dev and open-source culture which led them to be the most recognized chain infrastructure used by several public L2s. I am super excited to see what OP + APE can serve for the apes and the broader web3 community!
MisterHype - Accepted AIP Author
Nov. 22, 2023, 10:33 a.m.

Hey @chimperton, I get where you’re coming from, but let’s keep it real. While it would be the righ… Hey @chimperton, I get where you’re coming from, but let’s keep it real. While it would be the right way to have a structured process for submitting bids, the DAO doesn’t exactly mandate the team/any AIP author to roll out findings like a formal report. Sure, throwing in a system for tenders could spice up the competition and make the DAO on the right track, but if DAO position didn’t wrote AIPs that way, how can we expect it from DAO member? If we’re stuck on the fence about which company to go for, maybe we should just drop a proposal asking for proposals. Let each company step up and present their game plan. Kind of like how I wrote AIP- 315 . -Mr. Hype :fire:

Likes: 6 Replies: 0

Likers: thetechrabbi.eth, 0xWebMoss, 0xsteamboat, MemeBrains, bigbull, foxSlightly

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jackie - No Role
Nov. 22, 2023, 12:37 p.m.

Great to see progress toward an ApeCoinDAO-governed ApeChain AIP @Lumberg + Machi and thx for havin… Great to see progress toward an ApeCoinDAO-governed ApeChain AIP @Lumberg + Machi and thx for having me as part of the A-Team so that I can contribute more!! thx for the mention @MisterHype! This is jackie reporting from the metaverse frontline. I have been imagining (and building) a virtual world where apes are shaping the future of the NFT and web 3 culture with IPs and entertainment. An ApeChain will potentially anchor the ape culture and attract devs to build dApps to expand this virtual world. Optimism has a unique dev and open-source culture which led them to be the most recognized chain infrastructure used by several public L 2 s. I am super excited to see what OP + APE can serve for the apes and the broader web 3 community!

Likes: 7 Replies: 1

Likers: Lumberg, Raymond, 0xSword, Bingo, G_is_us, SeraStargirl, Cryptosheep
Replies:
- Lumberg: Thank you @jackie - appreciate your support and contributions here as well, showing everyone what is already possible today.
k4tz - No Role
Nov. 22, 2023, 1:58 p.m.

Congrats on putting the A-team together and on taking the first step to being part of the superchai… Congrats on putting the A-team together and on taking the first step to being part of the superchain! Katz from Caldera here Caldera is the leading Rollups-as-a-service (RaaS) company. We work with teams like Manta, Loot, and Injective to create customizable rollups using top rollup stacks (OP Stack, Arbitrum Orbit, and more). Caldera currently secures the most TVL among RaaS providers and boasts the largest, most diverse set of infrastructure partners. Caldera’s offering includes: Enterprise-grade, managed infrastructure (sequencers, autoscaling RPC nodes, etc) Additional infrastructure, including a block explorer, indexer, bride interface, and more Industry-standard security practices, using AWS key management and a cloud configuration audited by IOActive, a top cloud security firm Native support for alternative DA using Celestia’s DA network Customizations, including custom gas tokens (use $APE as the native token?) and custom stateful precompiles, and support for decentralized sequencing 40 + infrastructure partners, covering all areas: interoperability, oracles, account abstraction, wallets, and more Hands-on, white-glove engineering and technical support We’d love to talk more about your requirements and onboard you onto our platform. Please reach out to me via telegram: @mattkatz or email: matt@caldera.xyz if you have any questions

Likes: 2 Replies: 0

Likers: irvinxyz, lilchichi.eth

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conduit_andrew - No Role
Nov. 22, 2023, 4:06 p.m.

Andrew from Conduit here, we’re the premiere rollups-as-a-service platform behind the major L 2 l… Andrew from Conduit here, we’re the premiere rollups-as-a-service platform behind the major L 2 launches like Zora Network, Public Goods Network, Aevo, and more. We work closely with the Optimism folks on delivering the Superchain with Zora, PGN, Mode, Lyra, Orderly Network, with more on the way. We’ve also been working with @jackie on the ApeChain testnet. Our offering includes: High-availability Sequencing, with automatic failover and zero-downtime-deployments Conduit Supernode RPCs, that scale automatically with your usage Block Explorer, Transaciton Tracer, and Bridge UI (powered by Superbridge) Best-in-class security, monitoring, and 24 / 7 on-call for your deployment A suite of 50 + proprietary integrations, like Dune and Tenderly. As @jackie noted here, you can spin up a testnet for free on our app at app.conduit.xyz. Mainnet deployments take less than an hour (we spin up dedicated infrastructure just for your chain). Let me know if you have any questions, my telegram is andrewhuang 88 !

Likes: 1 Replies: 0

Likers: jackie

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MisterHype - Accepted AIP Author
Nov. 22, 2023, 4:13 p.m.

Well said -Mr. Hype :fire: Well said -Mr. Hype :fire:

Likes: 2 Replies: 0

Likers: MemeBrains, Lumberg

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ben-chain - No Role
Nov. 22, 2023, 4:49 p.m.

Hey y’all – Ben, Optimism cofounder here! You have the wholehearted support of the Optimism Collect… Hey y’all – Ben, Optimism cofounder here! You have the wholehearted support of the Optimism Collective. :heart: For some specifics from our perspective, check out the post I made a few days ago!

Likes: 6 Replies: 0

Likers: Raymond, 0xsteamboat, MemeBrains, Lumberg, bigbull, G_is_us

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Kuddo - No Role
Nov. 22, 2023, 7:46 p.m.

now we’re talking! great team, great AIP! now we’re talking! great team, great AIP!

Likes: 2 Replies: 0

Likers: Raymond, Lumberg

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bavi - No Role
Nov. 22, 2023, 9:24 p.m.

Firstly, thank you for orchestrating this AIP. looks like an A-team capable of making apechain a re… Firstly, thank you for orchestrating this AIP. looks like an A-team capable of making apechain a reality. I’d like to highlight a few points. I’ve shared some ideas on this matter in this thread: #ApeChain with bayc/mayc/bakc & $ape validators Following Blast’s recent launch, where they deployed over $ 100 m in capital in a short span, there’s an opportunity to learn from their approach: making the blur token lockup render participants eligible for the new L 2 token airdrop. If we opt for the new $AC token approach, we could follow a similar strategy, allowing those who lock up $ape/bayc/mayc/bakc to qualify for the $AC airdrop, with the aim of keeping $ape/$AC/NFTs relevant in securing the network upon the mainnet launch. This could, in the long term, address the $ape inflation due to the current LM incentives and offer significant long-term value for both $ape and NFT holders—an aspiration we all share, I’d assume. On a side note, is it feasible to have not only $ape or $AC as DAO tokens but also utilize either of them as the “gas” token on-chain, similar to how Matic/BNB function as gas tokens on their chains? Such a move could undeniably benefit our entire ecosystem. I look forward to your feedback and collaborating on a comprehensive proposal with everyone involved. bavi

Likes: 8 Replies: 1

Likers: Raymond, 0xAndy.eth, Apewhale, Timwatley, Lumberg, bigbull, Vis.n.Tes, Benny
Replies:
- 0xAndy.eth: Echo to bavi’s proposal when it comes to launch executions. And thanks A-team for initiating this with pre-assembled experts! To me, the most important thing unclear for now is the choice of Optimism. I’m no expert in chains, but some thought processes to share how optimism was landed in the decision would be greatly helpful for laymen like myself. Personally no doubt for the benefits of having ApeChain, so thank you for taking this first step for us.
0xWebMoss - No Role
Nov. 22, 2023, 10:21 p.m.

Hey there A Team Great to see this being put forward. I knew it would come down to two main players… Hey there A Team Great to see this being put forward. I knew it would come down to two main players: Polygon vs Optimism, both have great strengths. Would like to see more detail around point 2 please because currently we can’t even get funding to build simple low cost solutions that bring value to the DAO and ecosystem. Request ApeCoin Grants to fund development and ecosystem incentives. Polygon is big on supporting builders, just look at what they doing with Polygon Village. ApeCoin voters just want free free free and don’t quite get it that not every project will make it, they still need funding regardless and need to change that mindset if we gonna attract buildoors coming in hot from EthGlobal initiatives and other hackathons. What initiatives are going to be put in place for this and requirements. Please see AIP AIP- 330 : ApeCoin Innovation Fund for some ideas I put forward, I canned it because honestly it won’t see light of day but it modeled around how things work in other builder ecosystems that I’ve been apart of over my 4 year journey in this space. That’s how I ended up here and it’s been more about selling your soul than actually building which is where the real focus needs to be, otherwise they just gonna quit and go build elsewhere cause they supported way better. More detail there would sell me on this because you can innovate, create AIPs till you blue in the face, but if we gonna get shut down with zero feedback and not even a simple comment from big bag holders like @Machibigbrother on how to improve to get funded then we just doing it like we doing with ApeCoin right now and honestly, it ain’t working. I’ll gladly spearhead bringing my fellow web 3 hackers and devs in and have even put my name forward to go to EthGlobal IRL events next year, but not if we don’t have a solid plan of action on that front. Polygon is definitely my choice in this regard and @SandeepNailwal gets it, even jumps into spaces to rally the troops, been there, seen it with my own eyes. Would also like to see details on how you plan to support initiatives like sponsoring EthGlobal events, @maariab did an amazing job with that and we need to do it again and again and again, so what funding will be dedicated to that please. Look forward to hearing back from you sers. Super pumped to see Jackie on this team, we hacked together at Scaling Ethereum 2023 and would love to buidl alongside my brother, creating cool tech for our ApeCoin community. Regards Craig Moss

Likes: 4 Replies: 0

Likers: Evil, Apewhale, jackie, Halina.eth

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irvinxyz - No Role
Nov. 22, 2023, 11:34 p.m.

Agreed @chimperton , on lack of details / formal reasoning. Otherwise, everyone should plug in an A… Agreed @chimperton , on lack of details / formal reasoning. Otherwise, everyone should plug in an AIP and say they’re building an L 2 — which is not relatively complex. Perhaps this should be the case. Agree with @ 0 xWebMoss on choosing Polygon CDK. Not just because @SandeepNailwal can rally up the troops and his team has extensive experience, but because everyone in the industry knows that ZK Rollups are better than Optimistic Rollups by various standards. But, as @ 0 xWebMoss knows and others that attend ETHGlobal events know, there are a few dozen L 2 ’s at these events and ApeChain needs a key differentiator – both technical and business differentiators. @bavi — it is feasible to use $APE as gas, but rather simpler to implement with blockchain frameworks outside of Optimism and Polygon CDK, which are not presently discussed. In either case, further discussion is needed. We must consider how a new token like $AC (for ApeChain) would impact an existing token like $APE; or whether there should be a recap on $APE (and or if this is even possible under the constraints of the foundation) for it to be used as an incentive / gas to run the network. I’ll also plug in some of my writing that walks people through a few consideration on blockchains. Blockchain Primer for ApeChain General gm. I’m putting together a primer (informative text) that should give the ApeCoin DAO community some context into the implications and considerations towards building ApeChain. In particular, in the last section I outline some discussion points and comments that we should engage in as a community. Some commentary regarding gaming and scalability can also be found. The link to the initial draft, in a Notion page, can be found below. Overall, I believe further discussion and education is necessar…

Likes: 2 Replies: 1

Likers: Halina.eth, Cryptosheep
Replies:
- bigbull: irvinxyz: ZK Rollups are better than Optimistic Rollups Optimistic vs Zero-Knowledge Rollups: Which is best?. Do you agree to most of the findings of this article? or can provide another article for others to study.
0xsteamboat - No Role
Nov. 22, 2023, 11:57 p.m.

Firstly congrats and absolutely love proposals that truly add value back to the ecosystem! Couple o… Firstly congrats and absolutely love proposals that truly add value back to the ecosystem! Couple of questions. Is there an intended niche for ApeChain? Potentially DeFi as a lot of the team has deep DeFi background. How does ApeChain complement the existing projects built around ApeCoin DAO?

Likes: 2 Replies: 0

Likers: Lumberg, Cryptosheep

No replies yet.
0xSword - Accepted AIP Author
Nov. 23, 2023, 1:45 a.m.

Hello. I am concerned about this being built to benefit the few wealthiest in the ecosystem, earnin… Hello. I am concerned about this being built to benefit the few wealthiest in the ecosystem, earning them more access and tokens, while creating greater disparity for the rest. I’m unsure if and how it could benefit more apes, and if it might be setup in a way that is gamified to only be a profitable endeavor for those at the top. By all indications, these Machi-related endeavors are generally selfish, with a winner-take-all mentality, where others in the ecosystem get little-to-nothing. Machi is absolutely happy to cut everything else out of the ecosystem besides initiatives of his own, and seeing a proposal like this…it’s more than concerning! Is there a reason that Special Council members and others working parallel on ApeChain initiatives (Like Trippy, or Gerry? Or Waabam?) weren’t added to this group of people? Why is there no governance steward, or some people that can attest that things are being done in a way that does benefit more apes?

Likes: 16 Replies: 2

Likers: Evil, 0xWebMoss, Zloj, Eco90Ruthie, APE_path, Zaid_Orr, GamesKennith, WiseHighlander, KaelFinch, JenaBalistreri, crashapecrypto, leyota, MisterHype, tlogs.eth, Benny, Cryptosheep
Replies:
- 0xWebMoss: Very valid point, would like to see more names of people showing up on the daily, working in the groups and grinding to make improvements with the ApeCoin community
- MemeBrains: 0xSword: Is there a reason that Special Council members and others working parallel on ApeChain initiatives (Like Trippy, or Gerry? Or Waabam?) weren’t added to this group of people? Why is there no governance steward, or some people that can attest that things are being done in a way that does benefit more apes? imho, it’s most likely better to keep a substantial AIP like this separate from the influence that SC/GWG members would inadvertently introduce at the polls. Something like this, whether it passes or fails, is likely better left for the community to decide objectively without weigh-in from SC/GWG, as their focus is primarily on compliance and AIP due processes etc. Also imho, if/when a SC/GWG member puts their name on an AIP, careful consideration needs to exist around the potential long term ramifications. Personally I think it’s better for this AIP to be standing on it’s own, as it is.
buuvei - No Role
Nov. 23, 2023, 1:53 a.m.

It would help to clarify to readers which token will be used for gas fees on Ape Chain for example … It would help to clarify to readers which token will be used for gas fees on Ape Chain for example OP (chain token) $ape (apecoin) ApeChain (AC) Token

Likes: 4 Replies: 1

Likers: Evil, 0xWebMoss, jackie, ahimaaz
Replies:
- jackie: Gas fees and gas tokens can be very different discussions. Using gas tokens (other than ETH) will make smart contracts less interoperable because devs will need to handle gas with additional libraries. There are other ways to do gas fee reimbursement instead of using gas tokens.
0xWebMoss - No Role
Nov. 23, 2023, 2:11 a.m.

Very valid point, would like to see more names of people showing up on the daily, working in the gr… Very valid point, would like to see more names of people showing up on the daily, working in the groups and grinding to make improvements with the ApeCoin community

Likes: 0 Replies: 0

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No replies yet.
MemeBrains - Accepted AIP Author
Nov. 23, 2023, 2:24 a.m.

0 xSword: Is there a reason that Special Council members and others working parallel on ApeCh… 0 xSword: Is there a reason that Special Council members and others working parallel on ApeChain initiatives (Like Trippy, or Gerry? Or Waabam?) weren’t added to this group of people? Why is there no governance steward, or some people that can attest that things are being done in a way that does benefit more apes? imho, it’s most likely better to keep a substantial AIP like this separate from the influence that SC/GWG members would inadvertently introduce at the polls. Something like this, whether it passes or fails, is likely better left for the community to decide objectively without weigh-in from SC/GWG, as their focus is primarily on compliance and AIP due processes etc. Also imho, if/when a SC/GWG member puts their name on an AIP, careful consideration needs to exist around the potential long term ramifications. Personally I think it’s better for this AIP to be standing on it’s own, as it is.

Likes: 2 Replies: 0

Likers: Raymond, Lumberg

No replies yet.
0xAndy.eth - No Role
Nov. 23, 2023, 2:28 a.m.

Echo to bavi’s proposal when it comes to launch executions. And thanks A-team for initiating this w… Echo to bavi’s proposal when it comes to launch executions. And thanks A-team for initiating this with pre-assembled experts! To me, the most important thing unclear for now is the choice of Optimism. I’m no expert in chains, but some thought processes to share how optimism was landed in the decision would be greatly helpful for laymen like myself. Personally no doubt for the benefits of having ApeChain, so thank you for taking this first step for us.

Likes: 1 Replies: 0

Likers: bavi

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MemeBrains - Accepted AIP Author
Nov. 23, 2023, 2:42 a.m.

Before forming a final opinion on the matter, I’d like to first give fair chance for the A-Team wei… Before forming a final opinion on the matter, I’d like to first give fair chance for the A-Team weigh in with their answer to the following question, which has come up three times in todays ApeComms, and in numerous other conversations as well throughout other comms; Objectively speaking; 'Should ApeCoin DAO go through an RFP process for the determination of which chain and tech stack to launch ApeChain on, or should ApeCoin DAO proceed with an individual AIP with specific recommendation without the RFP process like this AIP suggests? This is a topic we at 8 Delegate are considering deeply and will conclude our opinion on after hearing the A-Teams reply. Personally, the way I see it from a high level, there’s 2 general sides to the topic; There are risks involved in proceeding on such an important matter without an AIP to remove bias from the process while introducing an added layer of transparency that we can fall back on in the future if needed. However, there’s also risks that an RFP process could trigger infinite discussions and over complications in the decision making process, resulting in ApeChain not launching at all, whereas this AIP would just get it done now and fast and we can all just move forward now and fast. Curious to hear other peoples thoughts on the matter.

Likes: 5 Replies: 1

Likers: 0xAndy.eth, danifaradiz, 0xWebMoss, Halina.eth, Cryptosheep
Replies:
- capetaintrippy: Not the team here but want to give some color on the RFP process. It’s not up to the SC to decide whether we have a chain or don’t have a chain. It’s up to the community to decide. IF we were to have proposed an RFP the first AIP would be to vote on whether or not we would do an RFP. We are not set up legally in a position where we decide, yes there will be a chain. After the community voted on whether or not we were to do an rfp, we would then seek out those wishing to participate in the rfp. If we were to do an rfp, there are a number of ways to consider moving forward, but the “quickest” at that point would be to put all up for vote at the same time and the most votes win. One of the considerations for not doing this is the dilution of votes across a “large” number of options, and thus not having the “best” win but whichever the largest whale/ whale chooses. There are pros and cons to each way and certainly don’t expect all to agree with the current path.
makeagod.eth - No Role
Nov. 23, 2023, 4:12 a.m.

What a wild ride! :rocket: The ApeChain A-Team is like the Avengers of the crypto world, bringing t… What a wild ride! :rocket: The ApeChain A-Team is like the Avengers of the crypto world, bringing together blockchain superheroes and DeFi legends. They’ve done their homework, met with tech partners (probably over some virtual coffee), and decided to roll with Layer- 2 rollups because, well, who doesn’t love a good rollup? :burrito: Optimism is the chosen playground, and they’re joining forces with a community that’s all about user protection, decentralization, and feeling economically fancy. Im with you guys! :gorilla:

Likes: 3 Replies: 1

Likers: Lumberg, jackie, Cryptosheep
Replies:
- MemeBrains: makeagod.eth: The ApeChain A-Team is like the Avengers If A-Team is like Avengers…then who would you say is the Nick Fury, the primary uniting force behind it? On that note…I wanna hear roll calls for Hulk, Iron Man, Cap, Hawkeye, Falcon and Widow too…don’t get me started in Antman