AIP-408: Q2/Q3 2024 Governance Working Group Budget 

ABSTRACT

On February 28th, the ApeCoin DAO Governance Working Group (GWG) successfully concluded its Q4-2023/Q1-2024 budget cycle, delivering key initiatives outlined in AIP-317.

Highlights include establishing an independent legal structure, website and governance dashboard development, community reward programs, election facilitation, and the completion of a 47-page treasury and economic sustainability study. AIP processing times were reduced to an average of 16.5 days in the final draft stage, and we came in significantly under budget which allowed us to extend what was initially planned as a 6-month budget to 7 months or more. In addition, we were able to allocate legal startup costs for both new Working Groups.

Starting in Q2 2024, the Governance Working Group will roll out three new pillars of what we’re referring to as GWGV3: Education and training resources for AIP authors and leadership teams, cross-community on-chain grants programs, and a delegate accelerator initiative being developed to increase voting participation.

Following extensive preparation and careful consideration, the Governance Working Group is excited to introduce a comprehensive, long-term strategy to empower the ApeCoin ecosystem by providing training and development solutions aimed at strengthening candidates going through our AIP process and, in turn, our proposal implementation success rate. This framework involves the launch of 14 education-based initiatives over the next 12 months, tailored specifically for the ApeCoin DAO. These initiatives will be developed and overseen by OpenCampus in collaboration with core members of NewCampus — a cutting-edge growth and leadership school serving some of the world’s fastest-growing organizations, boasting a client base of over 500 entities. Additionally, ForbesWeb3 will be joining us as a media and community growth partner to help put this program on the map and make ApeCoin DAO a premium destination for builders in Web3.

You can view the full APE_U program specifications here

The Governance Working Group has also partnered with UMA to integrate their oSnap protocol for an initiative looking to explore cross-community small grant programs with the objective of extending our ecosystem into non-traditional communities. Additionally, the program will provide support for our current market, covering in-person events, NFT intellectual property propagation, professional service provider costs for ApeCoin-funded ventures, developers looking to build on ApeChain, and seed funding for early ideas.

This initiative aims to broaden ApeCoin DAO governance participation by incentivizing the formation of smaller voting delegations, matching funds of up to 50,000 APE through GWG-delegated wallets. We will also pair the initiative with the GWG x UMA On-Chain Small Grants Program and, in some cases, provide access in smaller amounts without requiring communities to match funds, allowing them to sample how our governance processes work with the objective of them joining on their own after access to our program ends. An educational program will be established to cover ApeCoin and ApeCoin DAO fundamentals, and delegated voting rights will cycle every two months to different communities. It is important to reinforce that at no point will these funds leave the GWG’s possession.

BENEFIT TO APECOIN ECOSYSTEM

• Leveraging cross-community on-chain grants and our delegate accelerator, we will target communities that are currently not part of our ecosystem. Partnering with entities such as ForbesWeb3 and Open Campus, we dramatically expand our reach, offering exposure to our opportunities and the 14 programs being offered within the APE_U curriculum, which will also include an ApeCoinDAO onboarding series of professionally produced, co-branded four-minute videos offered in multiple languages.

• By simplifying the process for grants under 8500 APE and establishing precise categories, we will empower the community by streamlining opportunities that the DAO has not been set up to do up to this point.

• We will better-prepare authors for post-grant success with access to mentorships and training resources which encompass managerial essentials, futures thinking and opportunities for fast-tracked access to an Open Campus 6-week accelerator program designed to provide support and growth opportunities for education-focused startups.

• In collaboration with UMA, we are set to implement automated on-chain grant distribution for our small grants programs. This move is designed to reduce standardized administrative costs and enhance cost-effectiveness for the ApeCoin community. This methodology will also serve as an opportunity to present a proof-of-concept illustrating how allocating a portion of the DAOs treasury outside of Coinbase custody could bolster the long-term sustainability of our resources.

• The GWG Delegate Accelerator will match APE for APE in small tiers, up to a maximum of 50k, to encourage the onboarding and establishment of qualifying groups and new communities committed to ApeCoin governance (voting) participation. The initiative will also serve as an optional collaborative program with our cross-community on-chain grants programs.
• Importantly, within the program, no APE will leave the possession of the Governance Working Group. Instead, it will be delegated from our Gnosis Safe as a governance token, with the goal of rotating access among various communities for limited durations. This approach aims to facilitate better assimilation, ensuring recognition as meaningful ApeCoin DAO contributors without favouring particular onboarded groups. Additionally, existing delegations meeting program requirements may also qualify as participants.

• As exciting as all of our new initiatives are, it is crucial to emphasize that the Governance Working Group will also remain devoted to providing continued AIP processing, Discourse facilitation, Special Council and Working Group election facilitation, community rewards programs, stakeholder engagement, support for other Working Groups, proposal development, and various all of the other additional day-to-day ApeCoin DAO operational needs. In fact, as our scope expands through various initiatives, we’re currently aiming to scale by adding members to the team, enhancing efficiency, and once again, increasing output. Quarterly and budget-end reporting will also be maintained.

OVERALL COST

The total funding request for this budget is $1,271,900.00 denominated in APE. Of these funds, $668,000.00 will be either locked and delegated to the community as governance tokens or distributed back into the ecosystem via small grants and reward programs. Any surplus will be reported and rolled into the Q4/Q1 2024/25 Governance Working Group Operations Budget. Remaining funds from AIP-317, including repaid loans provided to the Metaverse and Marketing & Communications Working Groups for costs related to establishing their legal structures, will be reported and accounted for as discretionary funding to be used for, but not limited to, general contingency, new initiative development, community rewards, community grants, business and stakeholder development, and in-person ApeCoin DAO Working Group representation.

It should also be noted that 50% of the total funding allocated for our education and training initiatives will be withheld and only accessible to the service provider as delegated governance tokens from a GWG controlled wallet until the six-month mark of the projected twelve-month duration, pending a DAO-wide vote to determine the program’s continuation.

PROPOSAL

Link to the full proposal: https://forum.apecoin.com/t/aip-408-q2-q3-2024-governance-working-group-budget/21345