AIP-406: ApeCoin DAO multi-year partnership with Redacted, a Formula One Team 

ABSTRACT

The APE Foundation has been approached by a team with a strong history competing in Formula One. We are thrilled to present this proposal for a potential groundbreaking multi-year partnership between ApeCoin DAO and Redacted, an F1 racing team.

BENEFIT TO APECOIN ECOSYSTEM

An F1 team partnership offers a myriad of benefits, encompassing unparalleled brand exposure on a global stage. With a vast international audience reaching millions of viewers each race, the sponsorship provides an unparalleled platform for increasing brand visibility and recognition. Moreover, it offers unique opportunities for engaging with our global ApeCoin community. Beyond the track, the partnership extends to various marketing channels, including digital, social media, and events, maximizing the reach and impact of the partnership investment.

Designation (Non-Exclusive): Team Partner
Designation (Exclusive): Community Coin Partner
Intellectual Property: Use of all Redacted marks, footage, images, and logos for approved promotional purposes subject to individual team guidelines.

OVERALL COST

Amount requested from the ApeCoin Ecosystem Fund = €5,125,000 total over the first two years proposed

Year-One payment schedule:

• 40% €1,000,000.00, upon approval of the AIP and the execution of the grant agreement
• 30% €750,000.00, April 2024
• 30% €750,000.00, June 2024

Year-Two payment schedule:

• €1,050,000.00, February 2025
• €787,500.00, April 2025
• €787,500.00, June 2025

ApeCoin DAO retains the option to renew the partnership for a third year, following the payment schedule above, with a 5% escalator. The DAO may choose to exercise this option with a follow up AIP.

PROPOSAL

Link to the full proposal: https://forum.apecoin.com/t/aip-406-apecoin-dao-multi-year-partnership-with-redacted-a-formula-one-team/22241

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.