Proposal Name:
Omniichain Funding for Ecosystem Expansion Around $APE
Team Description:
Posco: Lead Developer, specializing in EVM contract development with extensive experience in blockchain technology. Holds an MBA for Alloway Security and has been actively involved in cybersecurity, building @omniichain and @apehospitality.
If additional team members are added in the future, their relevant professional and academic histories, along with contact information, will be provided. The team will also collaborate with external advisors and contractors as needed for specialized tasks.
Proposal Description:
The Omniichain fund is dedicated to promoting growth, innovation, and interoperability across multiple chains to expand the ApeCoin ecosystem. The initiative is focused on financing projects developed with Omniichain apps, services, and infrastructure to enhance the utility and reach of $APE. By fostering a more integrated, accessible, and versatile blockchain ecosystem, this proposal aims to support the ApeChain and $APE through strategic funding of cross-chain applications.
Committee’s Selection Criteria for Grant Recipients:
Eligibility Requirements: Applicants must demonstrate a clear understanding of Omniichain technologies and have a solid plan for utilizing ApeCoin within their projects.
Selection Process: The selection process will involve an initial application review, followed by interviews with shortlisted candidates. The final selection will be made by the committee based on the project’s potential impact, feasibility, and alignment with the ApeCoin ecosystem’s goals.
Additional Details: Projects will be evaluated on innovation, scalability, and their ability to enhance the utility of $APE.
Community Voting Process:
Voting Process: Major decisions regarding fund usage will be put to a community vote using a pre-existing Snapshot (a decentralized voting platform) page, to be announced.
Associated Platforms: Snapshot will be the primary platform for community votes. Regular updates and proposals will be communicated through the official ApeCoin DAO forums and social media channels.
Notification: Community members will be notified of upcoming votes via announcements on the ApeCoin DAO forums, Twitter, and other official communication channels.
Benefit to the ApeCoin Ecosystem:
Enhance ApeCoin’s utility across multiple blockchains, increasing its adoption and value.
Support innovative projects that align with APE Community’s core missions, such as decentralization, inclusivity, and interoperability.
Attract new members and developers to the ApeCoin ecosystem, enriching the community with fresh ideas and initiatives.
Promote cross-chain $APE development around dApps, DeFi, and SoFi.
Open gates for numerous developers working on different chains with their innovative products.
Definitions:
Omnichain: Technologies or protocols operating across multiple blockchains.
Interoperability: The ability of different blockchain networks to share information and value seamlessly.
Our use of the term “Omniichain” refers specifically to the broad capabilities of our proposed tools and services, which are designed to operate across multiple blockchains. This is not directly related to any existing platform named “Omnichain,” but rather a general term used in blockchain technology.
Currently, Omniichain (the platform) is in its formative stages as part of this proposal. We plan to develop an official website and social media presence once we have progressed further in the implementation phase and have foundational structures in place.
Platforms and Technologies:
Cosmos SDK: For building interconnected blockchain applications.
Polkadot: For enabling scalable cross-chain transfers.
Chainlink: For secure and reliable off-chain data feeds.
LayerZero and Other Omnichain Protocols: For seamless asset transfers.
Our platform will require users to connect their wallets to interact with the proposed applications. We plan to conduct comprehensive security audits through reputable third-party security firms and implement best practices in smart contract development to ensure user safety.
Steps to Implement:
Formation of the Omniichain Fund Committee: Posco/Xavier Freeway will select a diverse group of community members and experts to oversee the fund (Month 1 ). No cost, internal team
Open Call for Proposals: Announce and solicit project proposals from the community (Month 2 ). Minimal marketing cost, internal team
Proposal Evaluation & Selection: The committee reviews submissions and selects projects for funding (Month 3 ). The community will have governance rights through regular updates and the ability to vote on major decisions regarding the fund’s usage. No cost, internal team
Funding & Development Phase: Allocate funds to chosen projects and monitor development progress (Months 4 - 12 ). $ 2 million allocated, developers and builders using Omniichain products
Review & Reporting: Evaluate completed projects and report back to the community on outcomes and learnings (Month 12 onwards). Minimal cost for reporting tools and platforms
Term for the Fund: The fund will operate for an initial term of one year, with the possibility of extension based on performance and community feedback.
Target Check Sizes: The fund aims to allocate grants typically ranging from $ 50 , 000 to $ 250 , 000 per project, depending on the scope and potential impact.
Anticipated Investment Period: The investment period is expected to span 12 months, during which selected projects will receive funding and development support.
Key Performance Indicators:
Number of projects funded and successfully launched
User engagement and adoption metrics
Community feedback and satisfaction levels
The Ape Foundation is not expected to engage directly in the operational steps of implementing the AIP. However, we would seek their guidance in ensuring that the projects align with the overall values and goals of the ApeCoin ecosystem, particularly in the evaluation phase of project proposals.
Key Milestone:
For this AIP to be considered “fully implemented,” the goal is to have at least 10 projects not just funded but also successfully launched and operational. These projects should be groundbreaking in the fields of dApps, DeFi, SoFi, and marketplaces.
Reporting Expectations:
Bi-monthly updates to the community via the DAO forum and other communication channels.
Overall Cost:
Total amount requested from the ApeCoin Ecosystem Fund = 0 ApeCoin.
No funds are being requested from the Ape Foundation. The Omniichain network will allocate $ 2 million of their own funds to developers and builders to create on ApeChain using Omniichain products. The $ 2 million fund will be structured using a multisig wallet managed by the Omniichain Fund Committee, which will control the funds on a day-to-day basis and with no plans to raise third-party capital at this stage. The community will have governance rights through regular updates and the ability to vote on major decisions regarding the fund’s usage.
Disclaimer: As this initiative is led by me, Posco, I do not feel the need to provide proof of the $ 2 million fund. The fund allocation and its management are based on my commitment to the project and the community.
The proposal outlines the establishment of the Omniichain Fund to support projects that enhance the ApeCoin ecosystem by promoting growth and interoperability across different blockchains. The fund will provide grants of $50,000 to $250,000 per project, allocate $2 million in funds, and focus on fostering innovative projects aligned with ApeCoin's mission. The team, led by Posco, will form a committee to oversee the fund, evaluate proposals, and engage the community through voting processes. The key aim is to develop and launch at least 10 impactful projects within a year and continually report on progress to the community.
Chris.Admin - This user is a moderator, Facilitator
April 17, 2024, 10:54 a.m.
Hi @Xavierfreeway,
The community feedback period for your proposal would be ending in less than 24…
Hi @Xavierfreeway,
The community feedback period for your proposal would be ending in less than 24 hours.
If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.
A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.
Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?
We look forward to hearing from you.
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
April 19, 2024, 10:43 a.m.
Hi @Xavierfreeway,
Thank you for your ideas [and the ApeCoin DAO community for the insightful discu…
Hi @Xavierfreeway,
Thank you for your ideas [and the ApeCoin DAO community for the insightful discussions].
A moderator will reach out to the author to finalize the AIP Draft using the appropriate template.
Once the AIP Draft is confirmed by the author and meets all DAO-approved guidelines, it will receive an AIP ID number and move forward for Draft Analysis Review.
@Xavierfreeway please see your messages for the next steps.
Follow this Topic as further updates will be posted here in the comments. In accordance with DAO-approved guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
April 30, 2024, 6:12 p.m.
Hi ApeCoin DAO Community,
Edits have been made to this Topic, by the author, by the author’s reques…
Hi ApeCoin DAO Community,
Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent.
You can click the Pencil icon at the top of the post to see these edits.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
May 1, 2024, 4:02 a.m.
Hi ApeCoin DAO Community,
@Xavierfreeway has completed editing their AIP Idea to be their AIP Draft…
Hi ApeCoin DAO Community,
@Xavierfreeway has completed editing their AIP Idea to be their AIP Draft.
This proposal has been assigned the AIP ID Number 427 .
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
May 4, 2024, 12:23 a.m.
Hi ApeCoin DAO Community,
Edits have been made to this Topic, by the author, by the author’s reques…
Hi ApeCoin DAO Community,
Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent.
You can click the Pencil icon at the top of the post to see these edits.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
May 6, 2024, 11:01 a.m.
Hi ApeCoin DAO Community,
Our team has reviewed and discussed @Xavierfreeway’s AIP Draft and have s…
Hi ApeCoin DAO Community,
Our team has reviewed and discussed @Xavierfreeway’s AIP Draft and have sent a list of initial questions. We await answers.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
May 6, 2024, 4:43 p.m.
Hi ApeCoin DAO Community,
@Xavierfreeway has responded to our questions and they are in our review …
Hi ApeCoin DAO Community,
@Xavierfreeway has responded to our questions and they are in our review once again.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
Thank you Ezzy. Any opinions or opportunities for change do you see? I think us $APE coin fam deser…
Thank you Ezzy. Any opinions or opportunities for change do you see? I think us $APE coin fam deserve a chance for the smaller creators who do not have a bank roll to thrive.
I completely agree with you on opportunities for smaller creators and those without a large bankrol…
I completely agree with you on opportunities for smaller creators and those without a large bankroll is essential for fostering a truly inclusive and equitable ApeCoin ecosystem.
if no funds or involvement are required from the DAO to execute on this proposal, why is it here?
if no funds or involvement are required from the DAO to execute on this proposal, why is it here?
Xavierfreeway: It is a brand decision for the DAO plus the exposure is great for existing projects or future projects receiving funds
Chris.Admin - This user is a moderator, Facilitator
May 8, 2024, 7:12 p.m.
Hi ApeCoin DAO Community,
@Xavierfreeway has responded to our questions and has provided consent to…
Hi ApeCoin DAO Community,
@Xavierfreeway has responded to our questions and has provided consent to share them in this forum for the community. Click the dropdown below for the full interview.
Interview with @Xavierfreeway
1 . Is the Ape Foundation expected to engage in any of the steps of the AIP implementation? If so, please specify the steps and elaborate on how it is expected to work.
The Ape Foundation is not expected to engage directly in the operational steps of implementing the AIP. However, we would seek their guidance in ensuring that the projects align with the overall values and goals of the ApeCoin ecosystem, particularly in the evaluation phase of project proposals.
2 . Would your platform require users to connect wallets, and if so what are the plans for security audits of the platform?
Yes, our platform will require users to connect their wallets to interact with the proposed applications. We plan to conduct comprehensive security audits through reputable third-party security firms and implement best practices in smart contract development to ensure user safety.
3 . Your product is referred to as “Omniichain.” Is there any relation to the existing “Omnichain” platform?
Our use of the term “Omniichain” refers specifically to the broad capabilities of our proposed tools and services, which are designed to operate across multiple blockchains. This is not directly related to any existing platform named “Omnichain,” but rather a general term used in blockchain technology.
4 . Are there any current links to resources regarding Omniichain (website, socials, etc.), or is this a business yet to be established?
Currently, Omniichain is in its formative stages as part of this proposal. We plan to develop an official website and social media presence once we have progressed further in the implementation phase and have foundational structures in place.
5 . You’ve mentioned “We want to see at least 10 ground breaking dApps, games and more that will most likely be DeFi, SoFi and marketplaces” as a final implementation metric. Would these 10 projects need to be completed, or merely have received funding, in order for this AIP to be considered “fully implemented?”
For this AIP to be considered “fully implemented,” the goal is to have at least 10 projects not just funded but also successfully launched and operational. These projects should be groundbreaking in the fields of dApps, DeFi, SoFi, and marketplaces, as stated.
6 . Regarding any granted permission to use ApeCoin’s trademarks by the Ape Foundation, do you expect to maintain full ownership rights to the content and/or IP which may be created as a result of the approval of your proposal?
Any content or IP created through the use of ApeCoin’s trademarks will respect the licensing agreements with the Ape Foundation. The specifics of these rights would be negotiated to ensure both parties’ interests are maintained, especially focusing on how IP rights are managed post-project completion.
7 . As per the ApeCoin General Guidelines, “proposals will not be put up for vote if they involve illegal activity, hate speech, pornographic material, or are at odds with the mission or values of the APE Foundation.” Can you ensure that the content on the platform would be in keeping with these guidelines?
We are committed to ensuring that all content on our platform adheres to the ApeCoin General Guidelines. This includes strict policies against illegal activity, hate speech, pornographic material, and any content that conflicts with the mission or values of the APE Foundation.
8 . Do you provide consent to apply updates to the relevant areas of your proposal based on your responses to the questions above?
Yes, I provide consent to apply updates to the proposal based on the responses and any further feedback from the Ape Foundation to align better with community standards and expectations.
9 . Do you provide consent to share these questions and answers with the community in this forum?
Yes, I also provide consent to share these questions and answers with the community in this forum, ensuring transparency and community involvement in the approval process.
Edits have been made to this Topic, with the author’s consent. You can click the Pencil icon at the top of the post to see these edits.
A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
It is a brand decision for the DAO plus the exposure is great for existing projects or future proje…
It is a brand decision for the DAO plus the exposure is great for existing projects or future projects receiving funds
Chris.Admin - This user is a moderator, Facilitator
May 13, 2024, 12:02 p.m.
Hi ApeCoin DAO Community,
Edits have been made to this Topic, by the author’s request.
You can clic…
Hi ApeCoin DAO Community,
Edits have been made to this Topic, by the author’s request.
You can click the Pencil icon at the top of the post to see these edits.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
May 14, 2024, 10:37 a.m.
Hi ApeCoin DAO Community,
We have sent a list of follow up questions to the author.
Follow this Top…
Hi ApeCoin DAO Community,
We have sent a list of follow up questions to the author.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
June 1, 2024, 4:14 a.m.
Hi ApeCoin DAO Community,
@Xavierfreeway has responded to our follow-up questions and has provided …
Hi ApeCoin DAO Community,
@Xavierfreeway has responded to our follow-up questions and has provided consent to share them in this forum for the community.
1 . Please provide a more thorough description of your other team members, including any relevant professional and academic history.
Posco: Lead Developer, specializing in EVM contract development with extensive experience in blockchain technology. Holds an MBA for Alloway Security and has been actively involved in cybersecurity, building @omniichain and @apehospitality.
The team will also collaborate with external advisors and contractors as needed for specialized tasks.
2 . Please update your Steps to Implement section, to include:
Project start and end dates
Any associated costs, personnel, and platforms needed for each step
Any key performance indicators
Updated
3 . Please provide a schedule which you will commit to for sharing progress reports to the community.
Bi-monthly updates to the community via the DAO forum and other communication channels.
4 . “The Omniichain network will allocate $ 2 million of their own funds to developers and builders to create on ApeChain using Omniichain products.”
a. Please elaborate on how this fund would be structured. For example, would the project make use of a multisig or an offshore vehicle?
The $ 2 million fund will be structured using a multisig wallet managed by the Omniichain Fund Committee.
b. Do you anticipate raising any third-party capital?
No plans to raise third-party capital at this stage.
c. Who would ultimately control these funds on a day-to-day basis?
The Omniichain Fund Committee will control the funds on a day-to-day basis.
d. Would the community have any governance rights over the funds? If so, please explain how this would work.
The community will have governance rights through regular updates and the ability to vote on major decisions regarding the fund’s usage.
e. Please provide proof of funds to sustain the $ 2 , 000 , 000 granted to developers and builders on ApeChain using Omniichain products, or alternatively, a disclaimer stating the absence of proof of funds.
Disclaimer: As this initiative is led by me, Posco, I do not feel the need to provide proof of the $ 2 million fund. The fund allocation and its management are based on my commitment to the project and the community.
5 . Do you provide consent to apply updates to the relevant areas of your proposal based on your responses to the questions above, including any formatting updates to match the most recent version of the AIP Draft Template?
Yes, I provide consent to apply updates to the relevant areas of the proposal based on my responses, including any formatting updates to match the most recent version of the AIP Draft Template.
6 . Do you provide consent to share these questions and answers with the community in this forum?
Yes, I provide consent to share these questions and answers with the community in this forum.
Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent. You can click the Pencil icon at the top of the post to see these edits.
A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
Chris.Admin - This user is a moderator, Facilitator
June 3, 2024, 6:09 p.m.
Hi ApeCoin DAO Community,
We have sent a list of follow up questions to the author.
Follow this Top…
Hi ApeCoin DAO Community,
We have sent a list of follow up questions to the author.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-@Facilitators
