AIP-309: Allow for ApeCoin staked in JPEG’d protocol to be counted for voting power

ABSTRACT

This AIP is a reconstruction of AIP-229 to be submitted separately 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.

https://jpegd.io/

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

JPEG’d is the first Peer2Protocol based NFT lending protocol. On top of allowing immediate liquidity against the value of their NFTS, it offers the opportunity for owners to get native ETH yield on them by leveraging core DeFi principles, notably by being one of the largest Convex holders.

JPEG’d DAO offers both solo and Peer2Peer APECoin staking, allowing NFT holders to list their NFTs for the APECoin staking program, as well as APECoin holders of any size to join any of the pools (BAYC/MAYC/BAKC).

BENEFIT TO THE APECOIN ECOSYSTEM

Increased governance voting participation.

Total APE Staked as of 5/19/2023

JPEG’d ~600,000

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-309-allow-for-apecoin-staked-in-jpeg-d-protocol-to-be-counted-for-voting-power/17004

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.