AIP-355: Reallocation of Ecosystem Fund into Ethereum and USDC

The below contents are duplicated from the ApeCoin DAO Snapshot:

https://snapshot.org/#/apecoin.eth/proposal/0xf0e20d0b1d5308291807997e1f07187cac6ce864ac3cdbe8560d775c95a68a14

Members will vote with Moca NFTs on our Moca Snapshot. Delegated voting will then be done on the ApeCoin DAO Snapshot with the Mocaverseape.eth wallet.

Read, research, discuss - See what you think, fellow Mocas! Make your voices heard.

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ABSTRACT This proposal suggests reallocating 10% of the ApeCoin DAO’s available Ecosystem Fund into both Ethereum (ETH) and USDC (USD Coin). These funds will be utilized for various activities related to operating the ApeCoin DAO, facilitating grant requests, and ensuring the financial stability of the ecosystem.

BENEFIT TO APECOIN ECOSYSTEM The reallocation of funds into Ethereum and USDC ensures the long-term financial health of the ApeCoin DAO. It provides the following benefits:

• Liquidity for grant requests and ecosystem projects.
• A buffer against market fluctuations.
• Flexibility to adapt to changing circumstances.
• Increased confidence among stakeholders.The reallocation of funds into Ethereum and USDC ensures the long-term financial health of the ApeCoin DAO. It provides the following benefits:
• Liquidity for grant requests and ecosystem projects.
• A buffer against market fluctuations.
• Flexibility to adapt to changing circumstances.
• Increased confidence among stakeholders.

OVERALL COST The cost associated with this proposal is limited to 10% of the available ApeCoin in the Ecosystem Fund and the transaction fees for converting funds into Ethereum and USDC. The exact amount of the fees will depend on market conditions at the time of execution, and the fees from any service providers responsible for the execution of this proposal, but are not expected to exceed $200,000.

We request that the ApeCoin DAO administration do their utmost in aiding the Over the Counter (OTC) sale of the coin to mitigate any potential adverse price effects.

PROPOSAL Link to the full proposal: https://forum.apecoin.com/t/aip-355-reallocation-of-ecosystem-fund-into-ethereum-and-usdc/19399

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.