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ApeCoin moves to ApeChain
Recorded: Jan. 20, 2025 Duration: 1:40:12Space Recording
Full Transcription
Music
Music
Is it just me or is it
Is it eerily, is it oddly quiet
The timeline is loud
But right now I feel
Are you over there? Are you awake? Good morning
Good morning, yeah I'm awake
Yeah, it's a little quiet
Do you have any music?
Oh, I got music, we got music
We always got music
I see AIP authors in the crowd
What's up to Jack Stage
What's up to the Decent Studio crew
If you guys have AIPs that are live this week
If you know you're supposed to be up here with us
Please do send those requests
We can play a little music
And get the stage started
I see the G's on Ape account requesting that
Blessing us with that Ape chain energy
Maybe we'll get some alpha
For the old Apecoin community today
It is Monday
It is, I mean it is many things
It is the 20th
It is the week
Of three AIPs
Going, having been live
It is Martin Luther King birthday
It's the inauguration day
It is post
Trump and Milena coin
Token launching
So no shortage of things going on
In the ecosystem
No shortage of things for us to talk about
But it's Apecoin AIP roundup day
We got people in the ecosystem
Requesting funds
Trying to build cool things out
In our ecosystem
For us
Participating
Contributing in ways
That make sense to them
Through the Apecoin
And it is underlying Ape chain
So there are some exciting things
That will bubble up there
And have an impact
On that Ape chain
So it is important
To be paying attention
And talking about it
Although it is not maybe
Immediately profitable
There are a lot of cool things
That have come out of the DAO
We've seen
I mean I feel like I got a shitlet
I mean we saw an airdrop cam
Out of the DAO
And people got thousands of dollars
So if you're not paying attention
To the Apecoin DAO conversations
You definitely
You know
You might miss out on
On a cool opportunity
I've got a song
Adventurous Ape
And I'm gonna say
I chose this song
I chose this song
With total bias
I chose this song
With total bias
It was available
And it spoke to me
And you're gonna know why
As soon as I play it
It just makes sense
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
And you're gonna know why
Let's go.
Yeah, bias.
Total bias.
If you guys didn't hear it, they were saying Lost in the Sound.
I'm one of those people.
I'll cut a song right off right in the middle, and I will not think twice about it sometimes.
If somebody does it to me, though, I might need to go find the song on my phone and plug
in the old earpods and listen to the rest of the song.
But that's just me.
If I just did that to you guys, the song is called Lost in the Sound.
If you guys didn't hear what she was saying, she was saying Lost in the Sound.
I'm lost behind the Hodler Collective account.
I'm joined here with Adventurous Ape.
Together, we are the Ape Comms crew.
I'm looking at so many different apes right now.
Ape Comms, and we do these stages every other Monday at noon, PST, to highlight the AIP authors
that have proposals up in the ecosystem.
Adventurous Ape, how are you doing today?
I'm doing really good.
It's exciting times right now.
Crazy, crazy weekend we just had.
So, you know, still trying to figure out what's going on and, you know, what that everything
means for this ecosystem.
So, yeah, it's been an interesting weekend.
Sorry, I'm fighting with my meat button.
Interesting to say the least.
Interesting to say the least.
Let's do this adventure to save.
You know, I am lost and I do, I like to throw cogs in the wheel.
I like to throw things in the wheel and make it skip sometimes.
Normally, we, you know, we sort of focus on the AIP authors and they go through, you know,
their proposal and their introductions and then we let the community come up kind of towards
the end.
Let's have the community join us up on the stage the whole time, though, today and particularly
this week.
I mean, particularly this week because the proposals that are live, well, one, there's
three of them.
One of the proposals that are live is just so impactful for the entire community.
And I mean, just objectively, we usually go in order.
So we do have AIP 525, we have AIP 526 and then AIP 582.
So it is like numerically sort of last in order here.
But we do have the Ape Chain, OnChain, ApeCoinDAO governance revamp.
They put every instance of the word Ape in the proposal they could.
Ape Chain, OnChain, ApeCoinDAO governance revamp.
That's the title.
That's what's happening.
And it is a pretty impactful thing for our ecosystem.
We've been here for about three years participating in what we've known as the AIP process.
And this proposal would completely change the way that the DAO governance process works,
moving us away from simple on-chain or, sorry, simple snapshot voting and moving us to on-chain
voting and to new platforms.
So big proposal for the community.
A lot of things to consider there.
If you guys do want to jump up and sort of talk about it, ask questions, we invited the
authors to be there.
We're pinging them, and we do have several authors up here with us as well.
I see at least a decent studio here.
And Jack, if you're down in the audience and want to join us up here, please do feel free.
But maybe we've got Jack behind both accounts.
I'm not sure, but let's say hello.
Let's say good morning to the decent studio account.
And I mean, the stage, again, just objectively orange today.
You love to see it.
Even Sheba with the orange heart.
Let's go.
What's up, dudes?
That decent studio.
Good morning.
And GM, GM, and also good evening to anyone who is based in Europe.
We are doing fine.
And we are here to provide as many details about our proposal as you need.
Currently, the voting is against us, but hopefully we can convince more people from ApeCoin DAO
and board ApeCoin DAO and board ApeCoin DAO to support our proposal.
Hi, guys.
Manzombie here.
I'm here joining Jack Sage with the same proposal.
Thank you for having us here.
I love it.
You guys must have tapped into the community, the stages, the spaces, the cult before you came.
Because you guys came orange.
So for me, you came correctly.
I love it.
Welcome.
Happy to have you guys here.
We pinned up some of your work.
One of the posts that you guys put up today up at the top of the stage.
Let's say good morning to the king.
Let's say good morning to Sheba.
Appreciate you being up here with us.
If you guys want to join us, I mean, we got Sheba King up here.
You guys definitely can come up here and vibe with us.
Man himself looking sharp on the timeline today, I must say.
Again, just with pure objectivity.
I mean, just like looking like a mannequin in a window.
Good morning, Sheba.
What up?
Good morning, guys.
Happy to be here.
I need to learn more about DAOs and what you guys are doing.
I mean, I wasn't part of them on ETH, but since I've been involved with Yuga and stuff,
I haven't really got to this part of it yet.
So, you know, I'm loving Ape Chain.
You guys see me all over Ape.
We have a lot of stuff going on over there, too.
I'm just excited to really catch up and get to learn this stuff.
So I've known you guys for a minute, too.
Both of you guys co-hosted and stuff.
So I've been following you guys for a year.
So it's just really nice to finally bridge this.
And just what up?
Good afternoon, everybody.
Crazy weekend.
Interesting week ahead.
Stock market opens tomorrow.
Hopefully it's two basis points.
It's just like two full points.
Like up 1,005 would be great.
And then Bitcoin could rip.
And then maybe everything next.
But yeah, good day.
Man, thank Martin Luther King for the extra holiday today, man.
We needed the plus one on that Saturday, Sunday.
I mean, fucking Trump token, absolutely ripping.
Melania, absolutely doing what it's doing.
And I mean, if we're talking about ripping, we got to fucking talk about fart coin, literally ripping to all time high.
And look, Adventurous Ape is going to fuck me up if I just shill tokens for no reason.
And I promise this is not just a fucking shill because it's the popular thing on the timeline.
It kind of is, but it's also on Ape Chain.
So you may not have known it.
You may have missed it.
You may not have realized that you haven't seen the push because it hasn't come yet.
It's actually a pretty big thing.
So I'm giving you guys the alpha here today.
If you guys haven't seen the posts from Gains Network, you actually have access to 150x leverage on Ape Chain for the Trump token, for fart coin, for AIXBT, Zerebro, a couple of your other favorite AI coins on Ape Chain.
150x leverage.
I mean, you get a discount because there's incentives there where you're getting Ape Coin back.
You're able to get GNS back if you're participating on their platform.
They've got some incentive programs there.
You've got to check in to see which ones you might qualify for trading there.
But, I mean, fees are pretty cheap.
Fees are cheap.
And if you guys are trying to trade around, if you guys are checking stuff out, just, again, objectively, Adventurous Ape, just reporting the news.
You guys do have access to Trump.
You have access to fart coin.
You've got access to AIXBT on Ape Chain with 150x leverage.
There's another one that I actually left out.
I left it out of my notes on purpose because I wanted it to stick out like a store thumb.
I see the BoardApe Gazette down there just taking notes.
We're about to get a fire article from the BoardApe Gazette.
We got Pengu on Ape Chain, too.
And I'm not telling you to buy it.
150x leverage goes both ways.
So, I'm going to just say that it goes – 150x leverage goes both ways.
Pengu's on Ape Chain.
Do what you do.
That's just news.
It's on GAINS.
If you guys aren't following GAINS Network, definitely be following them.
They've got a lot of liquidity over there, like 5 million ApeCoin or more.
They did over a billion in volume like the first week that they were on Ape Chain.
So, I mean, GAINS Network, check them out.
They're moving fast.
They're innovating.
TrumpCoin went live like, what, the 17th or the 18th or some shit?
It was on Ape Chain with 150x leverage yesterday on the 19th.
So, like, 24, 48 hours, Ape Chain devs cooking up max degenerate shit.
So, I want to hear Shiba's reaction real quick because he's up here and I saw the faces.
What do you think about that, Shiba?
How do you feel?
It was just all a mess, man.
It was just a lot of a mess.
Like, I don't know what to feel about it, to be honest.
I need time.
I need this week to play out before I can feel it in any type of way.
We'll see what happens on Friday.
Come back.
All right.
I wanted to know how you felt about the products on Ape Chain because you were giving me emoji responses to that.
But I take your general shock.
Oh, I'm talking about the Trump thing.
Sorry, sorry.
I'm talking about the Trump thing again because you mentioned it.
But, I mean, I've been on Ape Chain for the last two months.
I've bought in tons and tons of these products.
I'm talking about NFTs.
But, in general, the different things that have came out on Ape Chain, it's been hard to, like, actually get the deets on something like the tech part.
I mean, I've been a part of the MB coin drop, which was on Ape.
I don't know if you saw the Moonbirds thing the community did.
So, that got me a little bit more involved.
And right off the bat, that's why I jumped on Ape Chain was because the thing that Drew dropped.
So, I know outside of, like, fart coin, I know that's a big thing that everybody's talking about.
It's good that they're put on Ape, right?
Isn't that the goal is to get this stuff on Ape Chain so we can get more people on here?
And I think that's going to segue people over just as similar as Trump did.
Wait, did you say Trump is on Ape Chain?
Bro, that's what I said.
That's why I wanted your reaction.
You went.
Literally, within 48 hours.
Yeah, that's amazing.
So, I mean, all that volume that came in the soul and kind of got it congested, I mean, come to Ape.
You don't have to deal with that congestion.
But we've got to educate it, right?
That's the whole point of this Ape Chain thing.
It's just another area to buy this stuff.
So, yeah.
Sounds good.
Exactly.
I want to hear it from Xi because if I say it, I might say it too excitedly.
I'm just naturally excited.
Can't help myself.
Wait, I have a question since we're already up here.
So, the intern is probably somebody on this stage, right?
Or in here?
I mean, the ApeCoin account is, like, present.
But, I mean.
All right, all right.
So, my next question.
I just need a DM response by whoever's involved with the ApeCoin intern.
You know, we've got something going on.
I want to make sure you guys are in on it.
But I don't want to, like, chill it.
But, yeah, let me know.
If you have time, just DM it.
That'd be cool.
ApeCoin guy.
Yeah, hit up the profile.
You know, motherfuckers are fucking out here.
We got Wabomb, too.
It's like we've summoned the entire, like, orange arsenal.
Like, I'll change my PFP.
You guys are making this really weird.
Be right back.
Yeah, I mean, Wabomb might have better access to the intern than me, too.
You know, he's the big special council member.
I'm just teasing you, Wabomb.
Thanks for being here with us.
I do love you being here with us so much.
Because you bring that orange aura, that orange background.
If you didn't know, Decent Studios up here repping orange with us.
Not just because they love the orange color, but also because they have the AIP.
So it's a little bit of a theme we've got going this week.
And we were just breaking into the discussion here, Wabomb.
You joined us right at peak degeneracy as we were letting people know that you do have access to Trump and Fartcoin and AIXPT now on ApeChain with max leverage.
I mean, 150x leverage both ways.
And I did leave one token off my notes.
And if you guys are just finding us now, just joining in, I'll just reiterate a bit.
But, yeah, Pengu's on there, too.
And I'm just reminding people that leverage goes both ways.
So just objectively, products on ApeChain.
Wabomb, special counsel, project director.
Good morning.
Beautiful orange background.
Beautiful orange hat.
The man himself.
Yeah, MGM, everybody.
Great to be here.
I just came back from the dentist.
So my mouth is partially numb here.
So, yeah, a little bit of a struggle to talk on stage.
But I'm here anyway.
Let's go.
I'm just imagining him with, like, baby cheeks.
Just, like, cute little chipmunk cheeks.
Just all full and, like, I don't know.
Lower lip.
Just the lower lip.
Just the lower lip.
All right.
Well, you've destroyed my image.
Now I'm just imagining you pouting.
But I know you're happy to be here.
So thanks for coming.
And I saw you unmuted, so I weren't sure if you were going to follow up right there.
I'm not that awkward, I promise.
But we're going to run through.
We've got a couple proposals.
And we do like to go numerically.
And it will give the stage a little bit of time to kind of generate here.
But, well, Bon, before we do that, let me just make sure you're okay with that.
We can break into the Decent Studios proposal and then cap off with the governance revamp.
Would that be okay with you?
Yeah, sounds great.
Perfect.
Perfect.
Decent Studios.
And, I mean, again, just objectively, it's like the theme of the day, the word of the day.
I looked through the Decent Studios proposal.
We're talking about the ApeCoin AIPs that are live this week.
If you guys didn't know, you guys can participate whether you're holding your ApeCoin on Ethereum or on ApeChain.
You just go to ApeCoin.com.
Click Discussions up at the top.
That's where you'll find the forum and all of these different ideas.
There's over 70 proposals that are kind of stewing and brewing there on the forum that you can jump in and have discussion about now.
And there's three that are live this week.
So if you're on the forum, you click Vote up at the top, you can go and see those three that are live, and you can participate with your ApeCoin from ApeChain.
If you guys are currently doing the degenerate shit on ApeChain now or just prefer to hold there for your native yield, you can still participate in voting.
That is fine.
AIP 525 is promoting the Ape community through engaging promotional videos featuring Bored Ape Yacht Club 3D models and ApeChain branding.
And what I wanted to say was, I mean, the discussion seemed pretty one-sided on the forum.
Pretty short, pretty good sentiment.
The request is $5,000, and as a result of this, the community would have access on a first-come, first-serve basis to decent studios, and they would produce 25 in total, 30-second videos.
Front-running you guys a bit on the introduction to the proposal, but, I mean, on all accounts, it seems like a pretty straightforward request.
You guys are looking for $5,000 in USD.
We paid out an ApeCoin, and we've got some of your content pinned up at the top for anybody who's tuning in.
You guys did your introduction, but please let us know what you guys are preparing, what you guys have in mind here with AIP 525, and a look at the proposal a little bit deeper.
Yeah, thank you very much for this opportunity.
Okay, so you presented our proposal very briefly, and in a nutshell, correct.
We want to produce 25 animated videos featuring Bored Ape Yacht Club 3D models.
It is all related to our service, which is called Bring Your PFP to Life, and basically, we allow NFT holders to record themselves or any other person and transform the actor into a PFP or NFT, or whether they use it as PFP.
It doesn't matter, it doesn't matter, and we have access to the technology, and we are developing our own technology that allows this mock-up services.
And we wanted to introduce the services to Bored Ape Yacht Club and ApeCoinDAO community.
So, with the initial 25 videos, the lucky NFT holders would then be able to create another videos at very discounted price.
Like, later, once the PFP and 3D model is integrated with our technology, they would be able to order a next 20-second video at just $10 price.
So, whoever wants to use it for personal usage or commercial usage, we believe it is quite a good opportunity.
And it is just a fraction of our services, because mainly we are focused on co-creation and our platform, which will be launched in a few weeks, is all about co-creation.
And one of our original series also will feature Bored Ape Yacht Club, but this Bring Your PFP to Life Services is just about allowing NFT holders to become creators.
Because, you know, we believe that we are created in an image of God, and we are not just consumers, but the creators.
And once we developed this tool to create NFT-featured videos, we wanted to make it public and share this opportunity with anyone.
And also provide this opportunity for those who don't want to dox, who want to remain faceless.
It is also a great opportunity to create a very alter ego, create TikTok dances, TikTok shorts, violets, maybe violets from ape-related events.
And basically, this is our proposal, creating videos featuring 3D models.
So, I just want to add that we also hold a license from Made by Apes.
So, the service Bring Your PFP to Life is a Made by Ape license as well.
Just if anyone's got any, you know, questions about the service, they can always go to Bodega and check the license out as well.
All right. I love it. Made by Apes. Powered by ApeCoin on ApeChain.
We got the full catchphrase in effect here.
I mean, again, the video looks sharp.
You guys have different IP already that you guys are showing in your video.
So, it seems like, although you guys are requesting here, the sort of like an MVP or like a short trial to feature the BoardApeYachtClub IP.
I see you guys already have stuff like, like The Plague is a popular one that's been around for a while.
They're on different networks. Shout out to them.
And Pons over there, he's a sharp dude.
Do you guys have bigger plans in the future?
I mean, the $5,000 initial request, I mean, it seems like extremely minimal.
Or do you guys have plans to sort of expand a different, maybe ApeChain IP as well and include that?
Or what's the thinking with that?
Yes, definitely.
So, as I said, Bring Your PFP to Life is just a fraction of the services that we provide.
We are all about co-creation and our platform will connect filmmakers with their fans in order to produce audiovisual stories.
And one of the first productions that will be launched on our platform will be our own original series featuring NFT characters, including BoardApeYachtClub.
BoardApeYachtClub. And this show will feature many other NFT characters, NFT-related characters from other communities.
If I may, I could also pin one of our first videos that was launched by us in January 2024.
So, almost a year ago.
And it all started with this video.
So, let me share this on stage with you.
So, that you have a grasp of what NFT communities we cooperate as well.
Because we want to reach out to as many NFT communities as possible.
So, let me, in the meantime, let me tell you a short story how it all started.
So, in 2024, in January, we released this video featuring these NFT communities.
And the response was amazing.
Everybody were, you know, quite hyped up because not many NFT communities before had the opportunity to create videos with their own NFTs.
And we were overwhelmed by the response.
But we wanted to focus on what was our primary purpose, which is creating our platform.
So, we met with people like Ponce, running NFT parties in February 2024.
We created videos for the plaque.
We spoke about potential partnership with them.
That's why we focus on this community.
Because we love their vibes, how supportive they are.
And we have a big depth in terms of support that we get from NFT communities when it comes to the plaque.
So, okay, I found this video.
So, give me a sec.
I'm going to share it on the stage.
Okay.
And later, in June 2024, at NFT Lisbon, we met with Coco.
And Coco introduced us with an opportunity to submit proposal to ApeCoin DAO.
And after a few weeks, we submitted this short proposal just to introduce ourselves to Bored API Club community, to ApeCoin DAO community.
And potentially, with initial 25 videos, expand our presence within this community.
And so, unfortunately, the process when it comes to approving everything with ApeCoin DAO takes quite some time.
So, after a few months, our proposal was approved.
And now, it is open to votes.
And I saw that Crypto is Fun, which is a community related to Coco, actually voted against our proposal.
So, we reached out to Coco in order to discuss maybe potentially changing their minds in terms of their voting power because they have over 1 million votes there.
So, we hopefully get in touch with them and may be convinced to change the votes.
But definitely, we want to be present among the Yacht Club community with our services and especially with our original content, which will be also published soon in a few weeks.
And I hope it will be very captivating for anyone who is involved in this ecosystem and to anyone who likes a good comedy, a humorous comedy and want to get involved into a creative process.
So, hopefully, we also reach out to web to consumers who just like good content.
So, in future, now I want to touch base regarding your initial question.
Yes, definitely, we want to expand our services, our presence.
And it will be not just providing services like bring your PFP to life and creating these short videos, but it will be creating a high budget content that will be enjoyed by many NFT communities and hopefully web to consumers.
All right, I see the video up at the top.
I actually tried to click it with my phone and it like made me soft reset a bit.
So, I'm going to try to click over from my computer so I can check it out.
But if you guys are interested, there's a couple videos from Decent Studio up at the top.
And I want to touch on one more thing real quick and then leave on a positive note with it.
And adventure safe, I don't mean leave completely.
I mean pass it over to you.
But I do notice that you guys have a fairly new account.
And in the bio, it already says you're building on abstract.
Abstract isn't live yet.
And you guys have a proposal with the ApeCoin DAO.
So, I'm just curious.
I got to ask or I'm going to get, but people are going to beat me up in the comment section.
If I don't, they're going to hit me on DMs.
I'm like, why didn't you ask?
What's going on?
How do we get ApeCoin in the bio?
What's going on with abstract?
Did you already get a grant there?
What do you think?
Yeah.
So, initially we're building on base, but due to difficulties in terms of getting quite responsive support as from other chains like abstract, we decided to finally launch our product on abstract chain.
So, we got in touch with head of ecosystem and the marketing team and we decided that we're going to launch our platform on the chain.
So, my net will be probably launched very soon and we are prepared to integrate with the blockchain, but definitely we don't want to be just, you know, limited to one chain.
We want to be a cross-chain platform and that's why we are reaching out to other communities.
So, because we are featuring NFTs that are related to board ApeCoin and we got license, NBA license, we feel that we can support and add value to this chain and this community as well.
So, it will happen regardless if we get the grant or not, we will produce for this community.
So, yeah, this is in short what I wanted to provide.
I appreciate it.
I appreciate you being honest and transparent.
I saw some of the responses from the crowd and I see Reed is coming up now and I just want to say be nice, guys.
I mean, he said he's going to contribute here to this ecosystem either way.
He's already contributed to the ecosystem.
They've already got the videos up with the Apes in it.
It's building on abstract.
Got to ask the question.
I mean,
Am I rugged or is he quiet?
I thought it was actually me, so that confirms it is him.
Lost, we can't hear you.
Are we all rugged?
Is it just you and me left?
I mean, maybe.
Radha, can you hear us?
Yeah, I can hear you good.
Yeah, it's him.
He's rugged.
I'm the co-host.
Here comes Adventure.
Yeah, yeah.
Hi, sorry.
I was rugged.
Oh, are you there, Lost?
I think we're back.
I don't think he's back, though.
I think he's...
Oh, he's not back.
Okay, sorry.
Yeah, I thought I was rugged, not him.
Yeah, well, okay.
So, yeah, I guess, Rita, you know, you came up.
Would you like to, you know, maybe speak on this or your opinion on this?
I was going to, Lost, finish his questions first, but I can go on if you want.
Well, I don't think Lost can speak right now.
So, yeah, if you'd like to go ahead, that'd be great.
Yeah, Diesel Studio, why do you need to build on multiple chains?
Yeah, we want to build on...
Because I see the projects you're building with are on Ethereum, but you choose to build
on Abstract and A-chain.
Yeah, we want to build on multiple chains in order to get involved in as many communities
as possible and reach out to as many potential web-free consumers as possible, and we want
to add value to these chains by producing content related to these chains.
So, our content...
But the content is not on Ethereum that you're building for.
I see apes, I see the frogs, they're all on Ethereum, they're not on Abstract or A-chain.
Yeah, but we...
Yes, exactly, but Abstract is quite a fresh chain, and we are in talks with other communities
that are building right now on Abstract, and soon you will know which of these communities
will cooperate with us and create content with us.
Also, we have our own characters, and probably it will turn into an NFT collection as well.
And these characters, which are 2D, hand-painted art, and also 3D models, will be launched on
on the chain that we are going to cooperate primarily, which will be Abstract Chain.
Yeah, so basically, this is our primary partner, because they showed very big...
But Decent, you're saying your primary partner is Abstract Chain, but you're asking for funding
from Ape Chain.
Yeah, because it is aimed...
Funding will cover content that is aimed to promote ApeCoin DAO, and will give opportunity
for BoardAbiac Club holders to create content for them.
Yeah.
So that's why we are asking for...
Yeah, but BoardAbiac Club is on Ethereum, not on Ape Chain.
Yeah.
So will you be creating content for, let's say, I don't want to mention it, but G's on Ape
from Ape Chain?
So basically, we wanted to choose these communities that wanted to take part in our content.
So the 25 videos that we want to create under this proposal would be created with those NFT
holders that choose to participate in one of our contests.
And whether they are building something on Ape Chain or not, it would be up to the fate.
But we are definitely aiming at supporting those NFT holders that are creating something
on Ape Chain, and for example, want to promote the present on Ape Chain or business on Ape Chain,
and also include the BoardAbiac Club 3D model in these videos.
Yo, can you guys hear me?
Yeah, we can hear you now.
Yeah, we can hear you, Loss.
This is great.
This is great.
I've never used this device.
I had to switch my device.
It's just like it's flashing at me.
It's mad at me.
It doesn't want me to be here.
I'm glad to be here with you guys.
Yeah, I mean, it's a fair question.
I think it's a fair question on Rita's part.
I kind of raised the same question.
But also, we are seeing a lot of people.
This is happening a lot, right?
Like, Decent, I don't want you to feel like this is some inquisition against you.
You guys just happen to be one of the three proposals that are up for vote.
And so it kind of gives us an opportunity to have the discussion.
There are a lot of different projects, a lot of different founders.
Like, Belever is in the crowd there.
They're another example that everybody is, like, really kind of happy with.
And they've made a big impact in our ecosystem.
They're also going to move over and be building their platform on Abstract.
And so, like, the passes that are there on Apechain, there'll be like a shadow.
And so you'll be able to use those passes that are sort of natively on Apechain in other parts of different ecosystems.
It is just sort of an interesting discussion that it's, again, it's not to target you.
But it is just sort of, like, relevant and present now in our ecosystem.
And, I mean...
Can I please...
Oh, yeah, yeah, yeah.
Can I please add something?
Yeah, so we applied for the grant before the actual Apechain was announced as well.
So both the Made by Apes license was applied before the announcement at Apefest about the Apechain.
So we are originally were applying to the Apecoin community on Apecoin, not on Apechain.
So hopefully that would also, you know, answer your question, you know,
because we didn't really know about Apechain being released at the time of submitting the proposal.
Yeah, I mean, that's another great point.
I see you guys submitted the proposal back in August on the 25th.
And everybody that's been through the process kind of understands that going through it takes a bit.
I'm talking about the Ape process and several of the people up on stage have gone through it and can relate and understand.
Yeah, and one more thing regarding the timeline.
We are also creating the service before official Bored API Club 3D models were announced.
So initially we created our own versions of 3D models and our technology was integrated with these 3D models, which were created by our own.
And then later when NFT holders were granted with 3D models officially created by Yuga Labs, we integrated our technology with those 3D models as well.
So we created this service long before official 3D models and long before Apechain DAO.
But this proposal is aiming at supporting whoever wants to create business or brand, personal brand around Apechain, Apecoin DAO or Bored API Club.
And Rita, I know that you are very famous here in terms of creating 3D animation and 3D models for anyone.
And with your platform dashboard, we keep fingers crossed for you and for user generated content.
The difference here is that our content will not be prerecorded.
We want to give users the possibility to record anything what they want, taking into account some technical limitation.
And then we are able to animate it and provide them animated content.
Decent, I was trying not to speak as a dashboard founder, but as an Apechain 3D NFT collection founder.
So I was speaking on behalf of Yuga on Ape.
I'm sorry if I said anything that disturbed you, but can we get Yuga on Ape on your platform or not?
We would need to check the 3D model first because, you know, we would need to check the rigging, typography, etc.
And if necessary, we would need to integrate this as we integrated official 3D models.
But if you would like to continue this conversation and, for example, integrate...
Yeah, 100%.
100%.
That was my question is, are you integrating any Apechain?
There's two or three 3D collections on Apechain.
And that were not mentioned on here.
That's why that was my question.
Yeah, we would love to integrate with other collections and definitely very simple to talk about.
3D artists getting together.
We're going to get something cool.
We're going to get something cool from this collaboration.
Look, we've got to come to Shiba's hand.
I want to go to Wabom just briefly on maybe the wider topic here, but also we've got to get to this other proposal.
Otherwise, we're going to miss the opportunity.
Don't want to do that.
Do appreciate you guys being here with us for AIP 525.
We've been talking about decent studios.
They want to create 3D animated videos using IP from our ecosystem, the Ape IP specifically.
Shiba, what's up?
Thanks for being patient.
Yeah.
Yeah.
So, I don't want to sound like Simon Cowell here.
I do like the 3D animations, how you can change it, you know, like live.
You know, it's not like you pre-record a video or something.
I like that aspect.
But for me, you guys have put this in in August, right?
You know, ApeChain came out in October, October, November, December.
Just like Rita said, you don't have a single ApeChain project, you know, model in your demo.
I understand the proposal coming to Ape and, you know, asking for it.
But even then, your original proposal was in August.
I would have reapplied with a, you know, update, an updated proposal.
I totally would have put, you know, ApeCoin and ApeChain in the bio.
I would have totally focused on ApeChain since it was released earlier.
I would have gotten a few projects up there to show it.
Because, to me, it just seems like your vision is a little scattered.
And if you're asking for even $5,000, which I know would do really good for projects on ApeChain.
Like, $5,000 would do really, really well for a lot of low-cap projects that can use that funding.
So, for me, I would really focus on a chain and start there.
I think opening and being like, yeah, we want to, we have ETH, like 3D models, but we want to do abstract, we want to do Ape.
I think it's too much.
I think you should really focus on a chain.
Pick a few projects and then propose what you've done there to a chain asking for proposal.
That's what I would highly recommend.
Because it's just very messy.
Okay.
Well, the resubmission process does exist as well.
Like, you guys sort of noted yourselves up at the beginning or the top of the discussion.
It does seem like the votes are sort of leaning in favor of the discussion on the stage.
Although, on the forum, I mean, sentiment generally good.
So, very interesting to see how, I don't know, ideas, proposals, these things unfold in the community.
But also, there is the opportunity to resubmit your ideas and go through the process having considered the feedback from the community as it were.
Also, I mean, maybe just the perfect transition, we do have AIP, what is it, 582, right?
Yeah, AIP582, which is the AIP which would bring ApeCoin's DAO governance on chain.
And it would introduce sort of a new process there for people to propose their ideas.
And part of that update, part of that revamp does include what's called the temperature check.
And so, basically, giving the community sort of the opportunity and giving the community exposure to these ideas on a bigger platform than the forum before they do finally go to voting on chain.
I've got hands up on my screen, but it doesn't look like they're actually up.
So, Wobom, I just want to hear from you as we go into this transition again.
Thanks for being here. Thanks for being patient with us.
What do you think about this whole projects building on ApeChain, projects building on Abstract, projects, you know, building on base and soul and every which way?
I mean, what do you make of it?
I mean, certain projects lean towards being on several chains at once, you know.
But it's also great to have homegrown projects that, you know, commit themselves to ApeChain and that focus here.
And it's important that we support those projects and those people who do that.
So, you know, I think you can have both.
But, you know, I do think you're going to see a higher level of support, both from, you know, the team, but also from the community when a project is, you know, homegrown and committed to one place.
Well, no bullshit there.
There you have it.
Yeah, I wanted to let you guys just kind of resonate on that one.
We want to talk about the new proposal.
Adventure is safe.
I haven't heard from you.
Thank you for holding it down.
We both kind of experienced the same poltergeist hitting us there and both ended up making the same exit.
But we're back.
Are you back?
How are you?
Do you have anything that you wanted to say sort of in conclusion here as we move on to the governance revamp discussion?
Yeah, I think I'm back.
Yeah, I mean, I think it's interesting.
Like, I think you do need to kind of take into account some of, you know, what you're hearing here with what people's like feelings are, I guess, about like the different teams.
And, you know, I just also was kind of curious, like, you know, you got to remember that like the Bored Ape Yacht Club, you know, isn't the only part of ApeCoin.
Like it goes beyond just the ApeCoin, like it goes beyond just the ApeCoin as well.
So, you know, focusing just on them might be a limitation because you are limiting yourself to like just part of like the ApeCoin community with this instead of like, like all the wonderful ApeChain NFTs, like, you know, the geese and stuff like that.
So, yeah, just, you know, just reiterate what everyone else said.
But yeah, I'm happy to have Wabam here.
So I'm ready to move on as well.
Love it. Love it.
Love it. Love it. And just like we usually do as well for Decent Studios and for man over here, would you guys like to just share anything sort of final thoughts, anything you didn't get a chance to touch on?
I think we are, I think we're fine. Thank you for the opportunity presenting our project. I'm just going to leave it to Jack Sage if he's got any final thoughts. Thank you for inviting us.
Yeah, thank you very much for this opportunity to present our proposal. We're going to prepare, we're going to produce content for you anyway, regardless of approval of this proposal or not.
We are here, we are not going anywhere and hopefully you will enjoy the content that we're going to produce. And if you find this interesting to use our services in order to enhance your personal brand or maybe create some commercial using your app, we are here to support you.
So feel free to reach out to us and we will be happy to create content with you as well. And if there is an NFT collection, but we would like to, from Apejet, for example, which would like to integrate the 3D models with our technology.
We are definitely here also to discuss it and provide a necessary, a necessary know-how and service and support.
Perfect. Yeah. And I appreciate you guys again for, for spending the time and taking the time out of your day to be here with us.
And again, I mean, it's a holiday for, for some folks, it's a bank holiday anyway. So spending that extra time with us and damn, do we need the extra time after all the stuff that's gone on over the weekend.
And it seems like it's just continuing to go on today. I'm scrolling through the timeline and I mean, yeah, I mean just crazy withdrawal times to, to centralize exchanges, different fucking tickers dropping left and right. It's, it's getting crazy out there.
It's getting crazy out there, but we do have our own little bit of craziness going on home, our own home grown craziness. We're here again with our special council member.
We'll bomb. It's also, I mean, I feel pretty comfortable to say he's also a friend of mine. So, I mean, like with a little bit of bias, we'll bomb is here and I'm happy to have him here.
But first, another one of my friends is here and I just want to, I want to throw it to him. Otherwise I'm going to feel bad. We got Baka. He's out, I mean, he's out here doing fucking 50 hour stages for the ape chain community.
He's pissing Rita off left and right. And Rita's still buying fucking the same, they're still buying from the same NFT collections. I mean, you can't get much better than that. Baka, he's got his fucking mutant ape. Appreciate you being up here with us. What's up, man? How you feel about the ape coin dial this week? How you feel about ape chain? How you feel?
Oh, well, I came in kind of late, so I didn't hear everything, but I'm doing good, man. It's, I don't know. You know, people are scared right now, but I don't think they should be. It's about to be great.
Boom. There you have it. Short and sweet. Look at Rita just, Rita just pow, pow, pow. I wonder if he could click that fast in the video game. We got the other side coming up and if you guys, you guys better keep that
energy in the game. We're going to see who comes up on those leaderboards. All right.
Wa-bam. Wa-bam. AIP582, ape chain, on-chain, ape coin, DAO governance revamp. I've got the synopsis. I can do the synopsis. I mean, it's only fair. I did it for the other proposal, so I'll do it here.
The AIP does suggest replacing some of the founding proposals, AIP1 and AIP2, guiding the DAO towards an updated governance process and removing several administrative layers and moving the decision-making to be more on-chain.
Some of the key points here are the DAO treasury, formerly moving on-chain, 75-25 splits. That's percentages, so 75% of the total treasury placed on-chain, on ape chain, for the ApeCoin DAO, with the other 25% remaining for the foundation and the administrative budget.
Protocol updates so that our governance process would take place on ApeCoin, also creating an executive director role, which would be responsible for driving ecosystem growth.
And there in the Ape Foundation, clarifying as well the special counsel role and introducing there an audit committee.
So a few different positions there. We talk about executive director, special counsel, audit committee, and all sort of being included in this Ape Foundation and supporting a grants process.
Clarifying, though, that the special counsel would no longer be directly involved in the AIP process and would really evolve into more of advisors, ambassadors in the ecosystem.
That's enough for me. For now, Wabam is here with us. Appreciate you for taking the time out of your day.
And again, I mean, on a holiday and with your lip pouting and poking out, if you guys missed it, he's fresh out of the dentist.
He doesn't normally have the list, but he does have a list today. So please, Wabam.
Thank you for the intro. Damn. Yeah, so the governance revamp, it's like, you know, Loss highlighted it.
It's about moving the governance process on chain, moving the AIP process on chain.
You know, the last folks that were just talking, the Decent Studio team, they mentioned they put up their proposal in August.
It's finally up for vote now in January. That's five months. You know, it's way too long.
And under this governance revamp, I believe the guidance would be 45 days.
So barring something, there being a problem with the proposal, it would take 45 days for it to get up.
And again, that would happen on chain. So there's no administrative review where there's a special counsel, like, considering it and having to vote amongst themselves.
And it would all just be done. There would be a temperature check that would happen on Snapshot.
And then the rest of it, as long as it passes that temperature check and the foundation is able to KYC and nail down the contract,
then it goes right to on-chain voting from there and on-chain execution after it's successfully voted.
So, yeah, that's the changes to the governance process.
And then in addition to that, it separates the Dow treasury from the foundation treasury,
giving 75% to the sort of community treasury and then 25% to the foundation's administrative budget,
which is used to run Ape Chain, you know, keep the lights on, do all that kind of stuff.
So those are the two big changes. And then, yeah, the foundation side, they would hire an executive director.
And that executive director would be, like, the leader and be sort of responsible and accountable for everything the foundation is doing.
And that person would ultimately report there would be an audit committee.
And the audit committee would be sort of on top of the executive director, kind of like a board.
And the audit committee would consist of holders of 10 million ApeCoin or more.
So select a smaller group of folks, people who are very clearly committed and dedicated to ApeCoin.
They put their money where their mouth is and they're, you know, highly, highly aligned stakeholders.
And they would be the ones who would ultimately be able to review the executive director's performance, audit the foundation's finances,
and ultimately fire an executive director if they felt they weren't doing a good job.
So that's the high-level closed notes of it.
I can tell you from being in around the Dow for, you know, just about since its inception,
if you're being on special counsel the last year and a half,
it'll be a huge improvement both on the AIP process and on the foundation side.
I think it'll help ApeCoin a lot.
It'll make the foundation a more commercially-minded environment.
It'll make it easier for the foundation to, you know, hire folks for ApeCoin,
be more responsive and faster in a variety of ways.
The special counsel model, you know, it's great for being, like, that it's elected community members
and people, you know, like seeing the folks that they elected to be in these roles.
But because of the structure of it, because we're electing people who mostly have other full-time jobs,
for a variety of reasons, it's just not the most effective and efficient way to run,
like, certainly to run a business, you know, which ApeChain is.
And, you know, I think in some ways it's not even the most effective way to run a foundation either.
So these changes will, like I said, really push ApeChain forward.
They'll push ApeCoin Dow forward.
They've been a long time coming.
This thing's been like a year in the works.
So excited to see it up there for vote now and happy to answer any questions.
OK. Yeah, I appreciate you for being here with us again.
And, I mean, it is a pretty dense proposal, so I'm not sure that I'm going to cover everybody's questions up here.
If you guys are tuning in, if you guys have questions, we have invited people to join us up on the stage.
So you are welcome to hit that request.
You can also drop questions down in the comments section.
On-chain governance, I mean, we're talking about the proposal process moving a little bit faster.
We're talking about people getting access to funds a little bit quicker.
I touched earlier on one of the features, I suppose, that's being introduced here.
It's called a temperature check, and I suppose we borrowed some of the structure from the Arbitrum ecosystem.
But I think that's pretty deep in the weeds if we're kind of talking about the cross-pollination of whatever Arbitrum's governance process and ApeCoin's governance process.
Can you explain just a little bit about what this temperature check would mean?
It is one of the sort of significant changes in the process overall.
It's a new term. It's just something new.
So can you tell us a little bit just about the rationale, the thinking behind this temperature check phase that would be introduced into the new AIP process?
Yeah, it's like a vibe check.
It's like checking the sentiment in the community.
Is this a proposal that has a good chance of passing?
If it passes the temperature check, that probably means the sentiment about it is good.
And if it passes that, then it goes to the part where it goes to the foundation where legal does the KYC, you know, nails down the agreement and ultimately gets put to a full DAO vote or to the on-chain vote.
So the idea is like, you know, we expect there'll be more proposals that go to temperature check than there will be that actually get to vote, but be less foundation resources spent, you know, dealing with proposals that don't necessarily have a high chance of getting passed by the on-chain vote.
So it's sort of a way of filtering out, you know, proposals based on how much support they have.
And a second way of filtering them out is that we've got threshold requirements.
So you need to have 250,000 AIP or have a delegation endorse, a delegation of 250,000 AIP, endorse it in order to get to temperature check.
And then for on-chain vote, it's 500,000 AIP.
So same idea, the idea is so that we're not just throwing, you know, especially when you move everything on-chain, a lot of it's going to be automated.
You don't just want any proposal to get thrown up and have the whole DAO have to review it and have the whole foundation have to put all its resources.
The idea with these thresholds and with the temperature check is to make sure that there's been, you know, some sentiment, that there is positive sentiment and support behind the proposal.
Yeah, I mean, it makes a lot of sense.
And I bring it up because it is, it would literally be sort of the first phase in introducing a proposal going forward.
And just objectively looking around the different delegations, we can't see exactly how the NBA delegation is voting because they're shielded.
So we'll be able to see the results after, like next Monday, I think is when they close up their voting over there.
Mochaverse seems to be in favor and the ApeCoin DAO voting the snapshot platform itself, like our own snapshot space.
That's the term I'm looking for, our snapshot space.
Our native ApeCoin DAO is also in favor of this.
So just sort of thinking through logistics and what people, you know, would expect moving forward.
We've, again, we've been going through the same AIP process.
If you guys have been in these discussions, we've been having similar discussions for two and a half, three years now.
And the whole process will change.
So starting then with that temperature check rather than as it is now, which is sort of ideating with the community for a seven day period, moving through a draft with the moderators, with the facilitators and fitting into this, our AIP template and making sure it's in the right format before going to special counsel and going through another review phase.
So all of that is sort of removed here, right out the gate, and it starts with a temperature check.
And so the community gets sort of that first tug at it.
You need to have those 250,000 votable tokens or 500,000, depending on which sort of a proposal it is.
And then the community gets to sort of decide on whether or not that proposal moves forward.
And from there you move into, it's a phase two.
That's literally the phase one is that temperature check.
And from there you would move into a KYC and contract negotiations.
So sort of preempting, front running, one, the community's input.
So getting that straight on a platform where people would see it, putting it up, this would be, I believe, on tally.
So sort of equivalent to being on snapshot rather than living on the forum for four or five months, one month, two months.
It would start straight on that community decision-making platform there on tally with the temperature check and then move forward to sort of the contract and the formal KYC, the negotiations, those sort of things.
So, I mean, it doesn't maybe sound simple, but if you're looking at it, it's AIP582.
You can go to apecoin.com, click discussion up at the top.
You can go to the live AIPs category and you can read more.
It is really only three phases, so it is somewhat simple.
Phase three, it says a formal AIP and call for voting.
This would take three days, and this would be where the AIP would be submitted via governance contracts after having gone through a temperature check and those authors having gone through the KYC and any relevant negotiations in the contract.
And at that point, the AIP would go up live for vote.
So, yeah, I mean, I do have a couple questions, like, about that, like, process.
Like, one of them, someone had asked in the forum, I believe it was TAPS, so for, like, the people who already have a proposal up and, you know, there's being DARP packages worked on and all of that, will they have to go, like, go through this process or will these be put up for vote because, you know, they already are in the old process?
Yeah, we need to, assuming it passes, AA, we'll have to just pick a date.
I was chatting with Lost about this the other day.
Like, probably need to just pick a date where anything that gets posted after X date would go on the new process, but everything that's currently, like, already in the process will stick with this, with the current process, if that makes sense.
Yeah, it does.
Okay, thank you.
That's great.
I'm glad to hear that because, you know, I was a little worried that people would have to, you know, resubmit.
But the other thing, I know Von Fronten had brought up on the thing that, you know, a lot of, in order, like, for someone to put up a proposal, they, or even, I mean, even a temperature check, they're going to have to have the 250,000 ApeCoin.
So, like, your average author will no longer be able to just put up a proposal.
Like, in the past, you know, anyone with one ApeCoin could put one up.
So, like, at this point, I don't know that any of the delegations have any processes for, like, people to, you know, submit to them, for them to put it up for them.
So, like, I'm a bit concerned, like, and worried about, like, some of these smaller asks.
We don't have any sort of small grants program anymore that was gotten away with when the working groups were, like, the proposal for the working groups to be dismantled went through.
So, like, I'm just wondering, like, is this going to cause problems for people with, like, you know, that don't have the connections or the, you know, a lot of ApeCoin, like, that they won't be able to easily, like, get a grant through the foundation?
So, the logic is that an idea that is a good idea, that there will be a delegate, if the submitter doesn't have 250,000 ApeC themselves, that a delegation will support the idea.
And an AIP author may have to go and, you know, contact a delegation, may have to reach out.
Or, you know, we could put up a system where, you know, maybe the delegate leads from each delegation, maybe there's one place where they can go and look.
And I suppose that would be the AIP forums, but maybe we can add some more, you know, some more tooling that makes it even easier.
But, yeah, I mean, that's, you know, that's, it's, I think it's a feature and not a bug.
You know, it's, it's this idea that you, if you can get the support of a delegation to put your proposal up, it probably means you've got a decent chance of getting the thing passed.
Because there's at least, like, some, you know, voting base that thinks that this is a good idea and that it's worthy of having the larger DAO consider it.
So, you're right, it will be like a, you know, it creates a bit of friction for the, for the average voter who doesn't have 250,000 AIP.
It's a bit more work for them.
They have to find a delegate to support the idea.
Or they just throw the idea out there and hope, hope the delegate, you know, jumps on it.
But, yeah, again, it's part of this idea of, of just making the process more efficient, utilizing everybody's resources in, in a better way.
And, yeah, that's it.
All right, well, and then also, I'm just wondering, like, why is there, like, you know, for the temperature check, you need the 250K, but for, to put it up for vote, you need at least 500,000.
So, like, I mean, if someone has, you know, had gotten up through someone who had, like, less than 5,000 and more than 250, they're still going to have to find another delegate.
It just, I don't know, it seems a little, like, complicated, I guess, to have two different levels, but I guess, whatever.
I mean, it just seems like a little more, I don't know, I guess a little more work for the authors.
But I do see your point.
Like, I do see where, you know, you need the support anyway to pass a proposal, so that makes a lot of sense.
But I just, you know, hope that we can have it more streamlined so it is easier.
Like, I'm not sure how to tell people who want to submit a proposal anymore, like, what the steps are.
Like, where do they need to go?
Like, who do they, you know, who do they need to contact?
So, you know, if there could be some resources, you know, that make it a little easier for people to find that, that would be great.
Yeah, we'll have to make sure that there are resources and that it's not hard for users.
I think if a proposal passes the temperature check, they're not going to have a hard time finding a delegation with 500K to, you know, endorse the proposal because they would have to have multiple delegations with 500K vote in favor during the temperature check or it wouldn't have passed.
So, I hear you.
Like, we'll need to make sure that this is, like, easy to navigate and that there's resources out there and we'll certainly make them.
And we can look to Arbitrum and we can, you know, we can see what they've done and we can build off of that because this is the same structure that Arbitrum has.
But, yeah, it's a great point.
We'll have to make sure that we're supporting the community during this transition if the proposal passes.
Awesome.
Yeah, that's one of my major concerns just because I worry that, you know, the smaller builders, if they feel like it's too hard to get a grant here, they're going to go to the other chains or other places.
So, you know, I think it's important that we do submit the, you know, are supportive of the people who might not have the connections yet but still have a great idea.
Totally agree.
All right.
Yeah, we've got to ask the hard questions.
I love when we get great answers from sharp people.
So, appreciate that, Obama.
I mean, there are some other phases there in that AIP process that kind of stopped out at phase three.
But the rest of the phases, I mean, there's like five more phases, but it all kind of just breaks down to logistics as a waiting period, a finalized period.
Just a bunch of logistics ultimately landing the author with the funds if they're approved through that voting period.
So, it really is sort of just as simple as those first three phases if you're considering how the process works up to the point where you might participate as a voter and really the point of no return if you're an author making it to that third and fourth phase for voting.
Cool.
So, I know we've been here for a while, but we haven't talked for very long about the on-chain proposal for the entire time.
And there are a few more little topics in here that I'd like to touch on.
And I'm actually kind of just going topic by topic here.
If you guys are not keeping up, if you guys are confused about what we're talking about, if you guys have just jumped into the room, we're talking about AIP582.
This is ApeChain, On-Chain, ApeCoin, DAO's governance.
It's moving on chain, the ApeCoin DAO governance revamp.
So, you guys can go to ApeCoin.com and click discussion up at the top there and you can find all of our proposals, but also the three that we've been talking about and the one that we're talking about now under the live AIP subcategory there.
Also on snapshot, if you search for ApeCoin, you can find AIP582.
So, there's a security council here that's introduced.
Just, I'm pretty sure that, I'm like positive that this was introduced previously when we considered ApeChain being introduced.
And there was this concept of a security council, given that we're sort of a layer three.
And I guess we don't talk about it too much, but if you could maybe just give us sort of like a top level TLDR of sort of why the security council exists and maybe, you know, what it is that they might do if they were to do anything in their capacity.
Yeah, the security council acts as the backstop to execute or to prevent certain actions, certain on-chain activities related to the governance of ApeChain and to ApeCoin DAO.
So, you know, part of the governance revamp, it moves the ownership of ApeChain, of like the, you know, the critical contracts that govern ApeChain, as in the bridge, the roll-up, those will move to being owned by the ApeCoin DAO.
And the security council will have the, well, it'll be owned by the DAO and the security council.
And so, in the case of an emergency, you know, say like there was a hack, funds were, you know, there's an issue with a protocol on ApeChain and they're trying to get funds off through the bridge.
Or, you know, if there's a malicious attack happening in the DAO and, you know, some malicious actor is trying, you know, has bought a ton of ApeCoin and is using it to try and jam through a proposal that would, you know, take the treasury or, you know, do something detrimental to ApeChain.
The security council, in those cases, is able to step in and execute, you know, on-chain actions to either, you know, proactively do something or to stop something from happening.
So, that's the basic idea of the security council.
Again, this is also, we're modeling it based off the Arbitrum Security Council.
And, you know, Arbitrum's been around for over two years now.
And they've never actually had to do any, you know, activities.
There's never been any emergencies that the Arbitrum Security Council has had to take action on.
But it's an important, you know, it's an important piece because if there ever was, you know, you need to have the security council in place.
So, that's sort of a high-level summary of what it is and why it's important.
Yeah, perfect.
I love it.
And I see we have a hand.
I want to come to you.
But let me just cap off this part of the topic real quick.
I mean, we're kind of talking about the changes to the DAO's governance, the changes to the processes, and sort of these parties that are involved.
I think maybe just one last party there that we would touch on just in summary of the update here.
There are other parties I don't want to touch on.
But the main one here, the Data Availability Committee, the DAC.
Again, this is something that has come up previously when we were considering where to build ApeChain.
This is something that exists in the Arbitrum ecosystem.
There are several members here that are named in the Data Availability Committee.
Some of them include, well, I'll just read them all.
There's seven.
There's Yuga Labs.
There's Off-Chain Labs.
There's Animoca.
There's Caldera.
Magic Eden.
Layer Zero Labs.
And Horizon Labs.
So, again, maybe if you could just give us like a top-level summary on how, you know, this data availability,
I swear I can say that word, data availability committee is contributing to ApeChain's growth
and sort of supporting our ecosystem.
So, Bob?
Sorry.
Apologies, guys.
That's somebody to the door.
Yeah, so data availability committees or our data availability committee, it's a critical
feature of the roll-up.
It stores data before it is passed on to being an L3.
Our roll-up passes on data to the L2, to Arbitrum, which ultimately settles blocks onto the L1
on mainnet.
Our data availability committee is comprised of some of like the leading labs companies
and creation of ApeChain and Arbitrum.
And...
Did he rug for anybody else?
Yeah, for me.
The last?
No, okay, you're back.
There you are.
Okay, sorry.
Yeah, as a reward, they get a small percentage of the sequencer fees
that every transaction on ApeChain produces.
But yeah, that's the gist of it.
Cool.
Yeah.
And I mean, maybe confusing, complex topics.
People are going to listen back to these.
We do actually see pretty good, whatever, listen-back data on these stages.
So, do appreciate you guys that are tuning in with us.
If you want to jump up on the stage, you might sit there with your hand up for a little bit.
But we will get to you.
I promise we're going to come to Verizon right now.
And we also have AIP authors up here with us who you may ask questions to.
But that data availability committee just sort of objectively bullish.
I don't know if you can be objectively bullish personally, speculatively bullish.
I don't know what the right positioning is.
But I mean, you said they're going to get a small fee from the sequencer,
from all these transactions that are going on.
But to me, that reads like these seven people.
I mean, Layer Zero, Magic Eden, Yuga, Animoca, contributors to Arbitrum, Offchain Labs.
Like, they all have this sort of inherent, maybe not responsibility, but I mean,
they all stand to potentially profit.
They all have sort of an inherent benefit that lies in Ape Chain's success.
So, I mean, to me, that reads like good news.
I mean, we've got some of the top builders in the ecosystem who have sort of a, I don't
know, like I said, like an inherent, maybe desire, maybe an inherent, like a built-in
partnership here where they're going to contribute to Ape Chain's growth.
So, I don't know.
It's maybe not exciting, but it's interesting.
Yeah.
I mean, like it shows the level of partners and the level of support that we have.
I mean, like being a data availability committee member, it's not a huge lift.
They're, you know, they're really just storing copies of our chain data, Offchain, and making
it available.
But, like, so essentially they're rebunning a server.
So, it's not a huge lift, but we've got, you know, incredible partners in support of
Ape Chain.
And I think that's reflected on our data availability committee.
Everybody wants to come and hang out with the apes.
You definitely get that vibe IRL, and you're seeing it here on Chain.
MFers want to come and vibe.
Even the decent guys, like they can't, you know, we're going on base, we're going on
abstract.
I don't know.
But one thing's for sure, like we want to go hang out with the apes.
Like that's, that's a for sure.
So, love to see that.
I mean, some of the other stuff here goes into, I mean, there's a new constitution, that's
the word, but there's a new constitution that's being introduced.
And there's some other roles, like I said, that I want to touch on.
But I want to go to the hand before we go any further.
And we'll wrap up here shortly.
I know people want to go and have maybe actually do need to work on the holiday or want to go
enjoy their holiday.
So, I have a few more questions, but let's come to the hand.
Verizon, I'm not sure we've seen you up on the stage, but I see your bio.
You look like you're interested in the DAO space.
Maybe not a maxi of the apes yourself, but we don't need to be eight maxis to participate
in the ApeCoin DAO.
You really actually just need the one ApeCoin.
So, do appreciate you being here.
What's up?
Yeah, GM, GM, GM, GM.
Thanks for bringing me up.
And I'm happy to always have really been interested in ApeCoin of this sense.
Yes.
And I think I like, sorry, can anyone hear me?
Oh, yeah.
We can hear you.
Yeah.
Did you have a question or something?
Yeah.
Yeah.
I wanted to contribute to, with what the Decent Studios were doing.
I feel like, currently now, one of the things that would be needed in ApeCoin is the expansion
for collaboration now, the cross-chain expansion, really.
But I feel like they're not really doing it in the correct way, because I actually also
don't like the fact that you are building on abstract chain, and you're having to come
to ApeCoin to probably source out funds and all of that.
And really, really, you're not also pushing out the NFTs that are native to ApeCoin, and
also pushing it out, really.
I think I also do not like that.
So, I feel like cross-chain expansion is necessary, but you really need to check out your marketing
strategy, how that, okay, how really are you able to collaborate with everybody else that
everyone looks that, okay, they are really a part of what you are building.
It does not just look like you are building an abstract chain, then you are coming to
have changed with social funds, then you also, you also want to build on Ethereum and all
of that.
So, I feel there's a better way to work on that.
And I also like, I also love what Adventurous Yip was saying as regards the easy accessibility
so that anyone that is coming up with an idea do not really have to have, like, the whole
bunch of funds, like 250,000 Yip or something, to be able to present a proposal.
So, I think that that was very nice, and I'm glad, I'm glad I'm here also.
Thank you very much for being here.
Yeah, I appreciate you being here and being patient with your hand.
And, I mean, shoot, in the new world, Adventurous Ape, I mean, you still need the ApeCoin, I'm
sure, to contribute on the forum and to come forward.
But, really, if you could get the delegation behind you, I mean, you still need the 1ApeCoin,
like, you still need the 1ApeCoin no matter what.
But if we're now encouraging and sort of, you know, we're going to be educating people
on the process now to get the AIP up and what that means with the delegation supporting
you, it's like, we know that these delegations exist.
It's not like, you know, like some, it is a bit of a barrier.
Like, I hear your point.
Like, it is creative, a bit of a barrier, but, like, we've also got bridges that's helped
us to get over these barriers, right?
Like, we know a lot of people that run delegations with 250,000 ApeCoin.
We know a lot of people that have delegations with 500,000.
Coco has a delegation with a million ApeCoin, right?
Like, if there's really people that are building in the community that, you know, have the communities,
you know, sort of, you know, have good intentions for the community that are really here for
the apes and for the ape ecosystem, I'm pretty sure it's not going to be too hard for
us to point people in the right direction of somebody who's going to be able to support
them.
And it sort of changes the responsibility, right?
It sort of changes the discussion and shifts the responsibility a little bit on those delegations
to be participating in the discussions, really, like, at a point before the final decision
is made, at a point where, you know, the authors are still able to sort of incorporate
the feedback and the changes.
So I, it is like, there is a barrier there, but again, like we've, we've already got bridges
like ready to roll out, like, like, you know, like those wooden bridges, they roll up and
they put up on the gates, like we're, boom, we're ready with those ladders, those bridges
already.
Well, Bob, what's up?
I just, I need to jump here.
But I just wanted to say thanks very much for, for having this, hosting this space and for
inviting me up.
This proposal is live for another, what, 12, 10 days, nine days.
So I'll be doing a lot of spaces.
We have one tomorrow.
The IboCoin Account is hosting a space tomorrow to discuss the revamp some more.
And I think I'm going to be on a Mochaverse space tonight as well.
So happy to answer more questions and looking forward to continuing to talk to the community
about this.
Thanks, everybody.
There you have it.
Appreciate you being here with us, Wabom.
And again, taking the time out of your dentist day to be here with us.
Keep an eye on Wabom's account.
If you're not, get those notifications on.
Make sure you're following the speakers on the stage.
We do have AIP authors and Ape Chain Maxis here with us today.
I wanted to maybe just cover a bit about the changes to the special counsel and about the
introduction of the executive director position.
I know we don't have Wabom here now, but maybe just sort of in summary.
And so we can put a nice bow on it.
Along with those governance changes that we've been discussing and the move towards that on-chain
governance process that we've been talking about here.
There would also be the creation of an executive director role where now we do have a director
of the Ape Foundation.
We've got secretaries in the Ape Foundation.
We've got this administrative sort of foundation that exists and the special counsel, they're
sort of overseeing and giving direction in the AIP process.
This proposal suggests creating an executive director who would there be able to provide
further direction to that whole organization and having a little bit more of that, I don't
know, unanimous ability to make decisions.
Whereas now we sort of have this decentralized process, even within the foundation where members
of the special counsel tend to have to agree on things before they move forward, like the
AIPs themselves.
So a bit of a change there with the introduction of an executive director and then an update to
the special counsel's position, to their responsibilities, clarifying that they would be removed from
any sort of an administrative review or oversight of the AIP process itself, and that they would
be sort of retracted.
They would be, I mean, reduced isn't really the right word, but they would be clarified as
sort of this ambassador body.
And they do still sit at the head of the ecosystem.
So, I mean, like job scope reduced from the AIP process, but in terms of visibility, in terms of
importance in the ecosystem, not really a reduction.
So still a special counsel there to drive growth with our ecosystem.
And then there, an audit committee as well, what Baum touched on that, those folks that
have over 10 million ApeCoin to provide oversight both to the executive director and the Ape
Foundation itself.
So a broad structure, I don't know, a bit of a wide structure, I don't know what the
right word is, a dense structure, a new structure, a lot of people that would be involved there
sort of in the administration of the DAO, but none really they're involved in the AIP process
itself.
So a bit of a change, a bit of an update, and definitely a relevant one as we do now have,
I mean, the community has approved what is ultimately our first real product in ApeChain,
and you see now all of the cool and fun things that are happening as we're sort of driving
that product here to market, not just the ApeChain team, but the whole community, all
of these crazy spaces we're seeing, all of these projects, all these collections, all
these things people are building on ApeChain.
That's where we need direction, right?
Where are we going?
We're going on ApeChain.
With our governance.
That's it.
I don't have any further thoughts on the governance revamp.
AdventureSape, do you have any ideas, any thoughts that you wanted to share?
Maybe something that we didn't touch on moving our whole world of ApeCoin DAO on-chain?
Oh, I had lots of questions, but I guess I'll have to chase whabam down on these other
spaces.
I'm not in questions.
It's not in questions for me.
Well, no.
Well, like, one of my thoughts is, like, okay, we've got 25% of the treasury that's going
to be going to the foundation, and it says that it'll be dripped over 18 months.
So, does that mean, like, I'm kind of, like, I'm not sure what that means.
Does that mean, like, 25% of our treasury goes to the foundation over 18 months?
Like, what happens after that?
What do you mean after that?
What you explained it sounds like.
So, they've got 25% of our treasury after 18 months, like, but there's no, like, guidelines
or restrictions or anything for them to spend it.
You know, what if they happen to go through it all?
Do they come back to the DAO for more funds?
Like, I'm just not sure, like, that aspect, how it works.
Well, they would.
They would have to.
I think what you explained is actually is right.
So, since there would be sort of that separation with the DAO's funds and the DAO treasury going
on chain and the community really having all of the decision-making ability, if the foundation
were to run through that 25% within that 18-month period or sometime thereafter, I mean,
they would have to come forward somewhere to get more funding.
So, I mean, again, sort of, like, speculating on a far-out situation, like, months, years
in advance.
But, yeah, that is sort of the separation there.
Because, you know, I mean, I just, I don't necessarily see the logic in doing it that
way.
So, you know, that's why, you know, I don't understand why it's not, like, based more on,
like, costs instead of, like, just a blank check.
And, you know, if there's, you know, 18 months, like, that's a lot of money, you know, that
they could potentially go through.
I just, I don't know.
As far as, like, accountability, I wish there was a little more.
I mean, I know nothing is perfect and, you know, no proposal is perfect.
But I do wish there was a little more oversight by the DAO with all of this.
It seems like the oversight is going now to, like, the bigger voters and the, you know,
the bigger delegation or the Security Council and, you know, it's just being taken more out
of the hands of the DAO.
And we have to have a lot more trust in, like, the people who are in these positions.
So, I mean, I just think there's some things to think about and consider with this.
Like, you know, I encourage everyone to read through it because there's a lot.
Like, I mean, it makes a lot of changes.
And, I mean, I think the automation and all of that is really great.
I'm excited for that.
I'm, you know, excited to see the proposal process not take, like, months and months and
months.
Like, I think all of that is really good.
But I do see, you know, some things that, like, concern me a little bit.
So, you know, I guess, you know, I do worry that it is going to hinder, like, some of the
smaller proposals and asks a little bit.
Or make it a little more difficult for people who are new to the ecosystem to kind of, you
know, get involved.
But, you know, there's always going to be challenges.
So, I don't think it's anything we can't work through.
But, yeah, I just encourage everyone to read it for themselves and, you know, decide, you
know, what, you know, if they think that this is the right direction or not because it is
a huge change.
And it's also very hard to unchange.
So, like, if this goes through, you will need, I forgot the percentage, but you need
for constitutional AIP, you have to have, oh, 3.5% of all votable tokens then to, like,
change this.
So, I just think it's important to consider everything and make sure, you know, that people
like know exactly all of the different aspects of this, not just like what sounds good.
Yeah, there's definitely a lot there to read.
And we covered a lot of it with Wabom, but there's definitely some more in there.
So, if you guys haven't voted, if you guys haven't had a chance to read, definitely do
check out the proposals that are live this week.
There is at least one that is going to be pretty impactful for pretty much all of you
if you guys are participating in the ApeCoin DAO or in the ApeChain ecosystem.
So, AIP582, ApeChain, OnChain, ApeCoin DAO's governance revamp, introducing the ApeCoin DAO's
governance process to OnChain voting processes, introducing new roles for the foundation and
clarifying existing roles.
So, not totally confusing if you guys are sort of nerds and down nerds and maybe ApeCoin
nerds and be paying around, but definitely a lot there to consider.
So, if you guys have questions, definitely do feel free to reach out.
If you guys aren't getting the answers that you need from the people you reach out to,
then I'm sure that, you know, there's somebody around that can help you.
And what I meant is if I'm not able to answer your question, I can point you to somebody
that can answer your question.
That's what I'm trying to say.
If I don't know the answer to your question, I can help point you to the person to answer
It's not my proposal, so I'm not going to be the right one for answers here, but I know
that it's sort of a hot topic in our ecosystem this week, so happy to help make those connections
so that if you have questions, you can get them answered.
And again, thanks for being here with us.
We've got the Decent Studio team up here with their AIP525.
Love the number.
Decent Studios up here.
Honestly, love the content pinned up at the top.
If you guys haven't had a chance to check them out, do follow them.
They said they're going to make more of the content regardless of the proposal passing.
So, if you like what you see, give them a follow.
We've also got AIP526 live.
This is a Banksy collection that yields a...
It's actually a pretty interesting proposal.
Again, sort of objectively, it doesn't seem as though there's a lot of support on the
voting side.
It is a request for almost a half a million dollars looking to tokenize and give access
to the Apegoing community a physical collection of art that would include pieces limited signed
from artists like Banksy and Cause.
So, there is...
I mean, it's a big proposal.
It's a half a million dollar request and looking to sort of tokenize some famous art there.
So, a few interesting things for you guys to look at if you're not interested in only governance.
And that is sort of a theme at the Apecoin Dow.
If you guys missed it at the top of the discussion, there's over 70 proposals that are live now on
the forum.
So, if you guys wanted to get involved, you guys wanted to maybe in some way impact a proposal
before it goes up live or participate in the proposal itself, go to Apecoin.com.
You can click discussion up at the top and find the forum.
You can see all of the different proposals that have been submitted by community members.
It's crazy.
There's never any shortage.
There were, what, two more submitted in the past week.
Some weeks we get seven.
Some weeks we get 12.
Some weeks we get two.
This was a week that we had two.
I'm not exaggerating.
The spread is so wide from the number of different proposals that we get in each week.
So, if you guys are ever sort of flicking around the internet, bored, scrolling the timeline,
just getting brain rot on fucking Twitter, and you want to see what the community is
cooking up in the background, the background is right there on the forum.
They've got their ideas there.
And, I mean, they've got their heart and their soul out there.
So, they're available.
You can ask questions.
You can make connections.
You can participate.
Thanks for being here with us.
We do these every other Monday after proposals go live.
Sounds like what Bob's going to be floating around on some other stages.
If you wanted to follow him around and try to ask some questions, make sure you give him
a follow.
And we also do stages over with Pukecast on Wednesdays.
So, we have had AIP authors there last week, and we will continue to have AIP authors with
us there in the coming weeks.
So, keep an eye out for those invites if you're authors, and keep an eye out for that stage
over there if you're part of the Ape Point Ape Chain community.
AA, anything else before we go on about the day?
No, just everyone have a great day, a great week.
You know, exciting times right now.
I think everyone's kind of figuring things out.
So, yeah, just everyone have a great day.
Love it.
Look, I got another song.
It's another one that's sort of on theme.
I'll start it.
We're not going to listen to the whole thing.
We're just going to listen to it a little bit, but only because I found it, and it feels
right.
All right?
Let the animal out here.
Let the animal out here.
Oh, you know I need somebody, yeah.
Yeah.
I'm here to be my buddy.
Yeah.
I'm here to be my buddy.
We'll be right back.
We'll be right back.
