AIP-311: Allow for ApeCoin staked in ParaSpace protocol to be counted for voting power

ABSTRACT

This AIP is a reconstruction of AIP-229 to be submitted as separate proposals by each protocol.

The current voting system does not allow ApeCoin staked in protocols, other than ApeStake.io, to be considered in voting power calculations for ApeCoin DAO governance.

This AIP allows for ParaSpace to request Ape Foundation’s assistance in implementing ApeCoin staked for its individual users to count as voting power in ApeCoin DAO governance activities.

https://para.space/

ParaSpace is a cross-margin lending protocol for full collateralized loans with bundled collateral. In just five months, ParaSpace has achieved impressive results, with up to TVL of $220 million, a leader in the market. We have over 2400 NFTs supplied, over 7,000 users, and $8.3 million in Ape staking. ParaSpace aims to become the world's leading universal lending protocol, not only in the NFTFi area but also in financial derivatives and real-world assets. Our vision is to allow users to borrow anything against everything. ParaSpace has many advantages, including auto-compounding, auto-repay to save gas, and maximizing staking rewards. We also offer a variety of pool choices, such as p2pool and p2peer. We provide BNPL services, allowing users to buy blue-chip NFTs and enjoy benefits with 0% down payment and immediate profit generation for Staking. ParaSpace also offers special features such as Rare Trait Boost loan limits. Recently, we have launched Instant Unstake Eth, allowing users to withdraw assets immediately without waiting 7-14 days.

BENEFIT TO THE APECOIN ECOSYSTEM

Increased governance voting participation.

APE Stakting Statistics 8/1/2023

Allowing users to vote will benefit both the growth of ApeCoin DAO and the whole NFTfi industry.

OVERALL COST

$0 requested from the ApeCoin DAO treasury for this proposal

PROPOSAL

Link to the full proposal: https://forum.apecoin.com/t/aip-311-allow-for-apecoin-staked-in-paraspace-protocol-to-be-counted-for-voting-power/17006

The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.