Apecoin Dao Considers Delaying Ape Staking And Introducing Bug Bounty Scheme

In fact, 91.26% of the $Ape community voted for it, while 8.74% were against it. Like other DAOs, the ApeCoin DAO is a decentralized government aimed at building and managing a global community. Members can submit ideas, comments, proposals, and vote on them. These individuals have received $125K for six months of service, and the community called this out accordingly. The belief is that they should have discussed a solution during their tenure, rather than asking for a costly extension.

Rejected Final AIPs can be resubmitted via the appropriate Resubmission Template if the author contacts a moderator. The “Straight to Vote” tag is given to a pending AIP whose costs, content, and implications are considered straightforward and of no risk to the well-being of the DAO. Any Pending AIP that is tagged as “Straight to Vote” will skip to Phase 7. The author will fill out the template, incorporating any Discourse feedback that helps the idea better serve the DAO. The author can add additional fields to the template if necessary to fully communicate the intentions, specifics, and implications of the AIP Draft.

General Guidelines

Resubmitted proposals for making a change to a process or implementation. Examples include procedures, guidelines, changes to the decision-making process, and changes to the tools or environment of the DAO or Foundation. Live AIP – an AIP that has passed all required approval stages and is launched for the community to vote on it. The voting options for a Live AIP are “In favor” and “Against.” Voting “In favor” means the voter is in favor of implementing the AIP exactly as-is.

Implementation of Accepted AIP – the process of implementing an AIP that has been accepted by the community via a vote, based on the predetermined steps laid out in the Draft/Template and Analysis Report phases. Voting “Against” means the vote is against implementing the AIP exactly as-is — you may vote “Against” to encourage the author to resubmit the AIP after making changes. The ApeCoin community governs itself via the ApeCoin DAO, the decentralized governance framework that supports the Ecosystem Fund. The DAO follows a proposal process to vote on how the Ecosystem Fund will be distributed by the APE Foundation to promote a diverse and self-sustaining ecosystem.

ApeCoin DAO’s consensus mechanism aims to make placing votes fair, transparent, and low-cost, so that ApeCoin holders can participate in the decision-making of the DAO. The author can add additional fields to any template if necessary to fully communicate the intentions, specifics, and implications of the AIP Draft. Resubmitted proposals for anything the DAO attaches its name to, including projects and collaborations. Participating in idea submission, commentary, proposal submission, and voting is restricted to ApeCoin DAO members.

https://xcritical.com/ is launching its community-led governance via a formal proposal process based on the one implemented and proven out over time by Ethereum’s EIP system. Proposal drafts that have passed their respective approval processes become available for voting on Snapshot. ApeCoin holders must go through a wallet authentication process to vote. ApeCoin DAO added three proposals – including AIP-91 – to their voting list and guess what? Following a week of intense voting, ApeCoin announced the good news on its Twitter page. AIP-91, whose full name is “Platform To Connect Talent Within the Ape Community”, aims to build a collaborative marketplace for Ape Holders.

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AIP Author – the DAO member responsible for beginning the APE Improvement Process, starting with presenting the idea to the community via the proper AIP idea process. The “Needs Administrative Review” tag is given to a pending AIP whose costs, content, or implications are considered complicated or a potential risk to the well-being of the DAO. Any Pending AIP that is tagged as “Needs Administrative Review” must go through Phase 6. An AIP Idea is submitted as a post in Discourse and must receive moderator confirmation that it complies with DAO-approved guidelines before it appears to the community.

For Accepted Final AIPs, implementation will begin based on the steps outlined in the AIP template. The project management team engaged by the APE Foundation is responsible for making sure this happens, but is not responsible for doing it themselves. If a Live AIP has not gotten any votes or is tied by the Vote Close Time, it will be tagged as “Stalled” and be eligible for Resubmission. In all other cases, Live AIPs are moved to one of two Final AIP categories.

In addition, it is also responsible for day-to-day administration, accounting and compliance with legal requirements. Opposingly, other Apes have mentioned that if a “no” vote succeeds, the community will be stumbling for months to find a new process. In addition, some are insisting that the Foundation members have the necessary networks and connections to push the DAO forward. In terms of costs, the same costs agreed in the original proposal apply. This means that each board member will continue to receive a hefty sum to fulfil their duties. DAO members must search past proposals to ensure any idea they intend to write a proposal for has not already been submitted.

“ApeCoin staking is going live soon, and though the contract has already been through at least one audit, it is prudent for the DAO to implement a bounty program prior to going live,” said the proposal. “Few weeks delay is a small price for safety,” Bajwaaddedon Twitter. Process Proposal – a proposal about making a change to a process or proposing an implementation.

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Moderators post AIPs to Snapshot after ensuring that each one has gone through the correct approvals process. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

There have already been several delays in the entire staking process. If the application is approved, the launch date might be delayed until the first part of December. The ApeCoin DAO is considering whether to push back the launch of NFT and ApeCoin staking in order to allow for a bug bounty program. With three proposals approved by the Ape community, it is an exciting time to witness the innovation of community members, we cannot wait to see what proposals come next. Seemingly, the community members showed excitement for the proposal written by Holocronape through voting results.

About The Other Two Proposals Approved By The $ape Community

An AIP draft must be submitted directly to a moderator via predetermined AIP templates. Drafts that have passed their respective approval processes will become Live AIPs on Snapshot during the next Weekly AIP Release, which is when new AIPs are released in batches Thursdays at 9PM ET. Once live on Snapshot, Live AIPs are open to voting until Weekly Voting Close, which is at 9PM ET on the Wednesday following their release. Moderators are the only ones that can post AIPs to Snapshot because they must confirm that each one has gone through the correct approvals process. The author can add additional fields to any template if necessary to fully communicate the changes made and the intentions, specifics, and implications of the resubmitted AIP Draft.

Holding ApeCoin is the only requirement for membership in the DAO. It’s a living document that will evolve and improve with the DAO community’s input. APE DAO Considers Delaying APE Staking And Introducing Bug Bounty SchemeOne of the most significant impending initiatives for the BAYC community is APEs staking. Bored Apes and Mutant Apes owners will be able to stake their NFTs as well as significant quantities of ApeCoin to earn staking rewards. Stakeholders will get 175 million ApeCoins ($794.5 million) over the following three years.

ApeCoin DAO’s Ape Foundation recently submitted a proposal to extend its tenure by three months. According to the Foundation’s proposal, not extending beyond September 30 will put the DAO in danger. Every year, there is a DAO-wide vote to determine which DAO members will serve on a special council on the APE Foundation (the DAO’s “Board”). The purpose of the Board is to administer DAO proposals and serve the vision of the community. Administrative Review – the process of evaluating pending AIPs that have been tagged as “Needs Administrative Review” to determine whether they should be halted or sent to vote by the community. Core Proposal – a proposal that would be considered the main activities of the DAO, with subcategories that can be expanded on over time via proposal submission.

Given that AIP authors may be submitting drafts with little to no resources, this service for the DAO community ensures that DAO members have enough information about proposals to make informed decisions when voting. This is considered to be a service for the community given that AIP authors will be submitting drafts with little to no resources. An AIP Idea is submitted as a post in Discourse and must receive confirmation from a moderator that it complies with DAO-approved guidelines before it appears to the community. ApeCoin holders must go through a wallet authentication process to post ideas or give feedback to ideas via comments. Proposals that receive a majority “In favor” vote are moved into implementation.

• The author can add additional fields to any template if necessary to fully communicate the intentions, specifics, and implications of the AIP Draft.
• Seemingly, the community members showed excitement for the proposal written by Holocronape through voting results.
• Participating in idea submission, commentary, proposal submission, and voting is restricted to ApeCoin DAO members.
• In addition, some are insisting that the Foundation members have the necessary networks and connections to push the DAO forward.
• Proposals that are rejected will have the chance to be resubmitted via the appropriate Resubmission Template if the author contacts a moderator to initiate this process.
• Members can submit ideas, comments, proposals, and vote on them.
• For Accepted Final AIPs, implementation will begin based on the steps outlined in the AIP template.

Voting “Against” means the voter is against implementing the AIP exactly as-is — voters may vote “Against” to encourage the author to resubmit the AIP after making changes. Resubmission Proposal – a proposal that was previously submitted but did not pass either due to initial rejection by moderators or the Board, or by not passing a vote. All proposal categories have a special template for resubmission that the author must link to the original proposal, clearly state why it did not pass, and clearly explain how the resubmission is different.

If not approved, it is eligible for resubmission, except in cases of violation of the law or reasonable suspicion of fraud or other misleading information. Once the seven-day feedback window has passed and a moderator What is ApeCoin (APE) closes the Discourse topic, a moderator will send the author the proposal template and next steps for submission and voting. They may also suggest a proposal category, if not already specified in Discourse.

Phase 1: Aip Idea

Not only had one but three new proposals to vote on during the week. Out of the three, AIP-91 is the proposal that concerns the ‘marketplace creation’ idea. The APE Foundation facilitates community-led governance and is responsible for administering the DAO’s decisions.

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Proposals that are rejected will have the chance to be resubmitted via the appropriate Resubmission Template if the author contacts a moderator to initiate this process. If by the Vote Close Time the Live AIP has not gotten any votes or is tied, it will be tagged as “Stalled” and be eligible for Resubmission. The AIP Draft + Analysis Report Package is reviewed by a team of moderators and either approved or not approved based on whether it adheres to the DAO-approved guidelines.

What Is The Ape Foundations Proposal?

Moreover, some Apes are criticizing them for not communicating sooner and not being as active in the community as one might expect from a board member. According to the Ape Foundation and ApeCoin’s official Twitter, the three-month extension is being proposed as the community has not submitted alternative proposals to ensure a smooth transition. This includes deciding who could take over, what elections would look like, and so on.

Informational Proposal – a proposal that provides general guidelines or information to the community but does not propose a new feature. AIP Idea – the first step in the process of creating an official AIP, which will be presented to the community for gathering informal feedback for a period of seven days. Zainab is a Web content creator and technical writer who loves talking about and teaching topics related to the creator economy, Web3 development, and other blockchain-related topic and news. Janelle is a freelance content writer with a passion for all things related to music, marketing and tech. She looks forward to bringing you more news relating to the fast-paced world of Crypto and NFTs from her home office in Brighton.

The total cost of implementation must be clear in order for a proposal to go to vote. AIP Moderation – the act of reviewing an AIP DAR Package to determine whether or not the AIP draft meets the predetermined and DAO-approved guidelines and therefore is eligible to move to the next step in the process. If an AIP DAR Package passes AIP Moderation, it becomes a Pending AIP. APE Improvement Proposal Draft & Analysis Report – both the AIP Draft and the AIP Analysis Report should be defined as a package after the analysis report is conducted, as they should only be considered together from that point on.

The person or people submitting the AIP Idea will be referred to as the author or authors . The AIP idea informally gathers comments via Discourse for seven days. The author cannot edit the original post — if the author wants to propose changes to the original idea, they must do this via the comments.

All investment/financial opinions expressed by NFTevening.com are not recommendations. It goes on to say that this extension would ensure that the DAO is compliant with all laws and regulations. Furthermore, it would also enable the Foundation to work on a comprehensive electoral framework and allow the community to agree on a smooth electoral process. A Board member may be removed and replaced prior to the term’s end pursuant to a majority vote of token holders. Weekly Voting Close – when all AIPs in a Weekly AIP Release batch close for voting, which happens the following Wednesday at 9PM ET.