AIP-406: ApeCoin DAO multi-year partnership with Redacted, a Formula One Team
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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.
Formula 1: Drive to Survive - Season 6 | Official Teaser | Netflix https://www.youtube.com/watch?v=MlrSWUU2--o&t=1s
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.
Off-Chain Vote
Timeline
Mar 08, 2024Proposal created
Mar 08, 2024Proposal vote started
Mar 20, 2024Proposal vote ended
Jun 13, 2025Proposal updated