ApeSwap Governance Round 5 đł
Governance Round introduces a single proposal, Prop 17, intended to help ApeSwap continuously grow by optimizing revenue utilization & putting some treasury funds to use.
A Quick Refresher On How it Works đł
ApeSwap Governance is a platform designed to give the community insight and input into the most impactful decisions concerning ApeSwap. To distribute voting power ApeSwap uses software to take a âsnapshotâ at a certain block. This snapshot dictates the voting power of each wallet, where 1 GNANA = 1 vote.
Here are some key points to remember about the governance process:
- You can vote and review proposals at Vote.ApeSwap.Finance.
- You MUST have your GNANA in your wallet during the âSnapshot Blockâ for you to utilize voting power with those GNANA. If the GNANA is not in your wallet during the Snapshot Block, you do not have voting power for that GNANA. NOTE: If you have staked any GNANA into pools at the time of the snapshot, those GNANA will not be counted as eligible towards votes during the round of governance.
The Governance Snapshot for Round V is set for the 24th of February at 22:00 UTC!
Proposal 17: ApeSwap Growth & Continuity Planning
ApeSwapâs Core Team is committed to the long-term health of the protocol, the decentralization of our operations, and the continued growth of the DAO. To continue driving ApeSwap in this direction, we are proposing to use funds accumulated in the ApeSwap Treasury and revenue from various service offerings as described below.
Treasury Funds Usage
ApeSwap is seeking community approval to utilize ApeSwap Treasury funds as follows over the subsequent six months once the proposal is passed.
Marketing â Up to $750,000
Cover the ApeSwap Core Marketing Teamâs expansions and marketing initiatives including, but not limited to tools, paid media, analytics, agencies, graphics, design, videos, influencers, sponsorships, and human resources.
Human Resources â Up to $500,000
Ensure the continuity of ApeSwap by providing compensation to DAO contributors for marketing, business development, technical development, or community work.
Grant & Growth Program â Up to $250,000
Incentivize non-Core Team contributions to ApeSwapâs technology stack as per ApeSwapâs upcoming Growth & Grant Program. See this Github repo for example bounties weâd like to pay with this carve out.
Smart Contract Audits â Up to $150,000
Audits of new Solidity code through reputable auditors to ensure the highest degree of security and best practices as ApeSwap continues to innovate and build the DAO.
Infrastructure â Up to $150,000
Technical, human, and other resources necessary to maintain high-integrity and real-time data for ApeSwapâs suite of features.
Protocol Revenue Utilization
We are proposing to use revenue from ApeSwapâs various service offerings as follows.
BNB Chain DEX Revenue Breakdown
The BNB Chain DEX revenue would be utilized as follows:
Guaranteed 50% for BANANA Buyback and Burns
- We will buy back BANANA and burn it with 50% of BNB DEX revenue, guaranteed
Up to 10% for Contributor Incentives
- Earmark 10% of BNB DEX revenue to be utilized for incentivizing ApeSwap contributors. Including, but not limited to: Core Team Members, Administrators, third-party contributors, and contributing projects
Up to 10% for ApeSwap Operational Expenses
- Carve out for ApeSwap day-to-day operational expenses such as marketing, tech subscriptions, tools, human resources, design, community engagement, etc.
Up to 10% for DEX Optimization
- Engagements with world-class incentive distribution & tokenomics firms to build out custom machine learning models to maximize revenue for ApeSwapâs DEX
Minimum 20% stored in ApeSwap Treasury
- With the considerations above, this would leave a minimum of 20% of ApeSwapâs BNB DEX revenue to be stored in the ApeSwap Treasury for future use
Polygon DEX Revenue Breakdown
The Polygon DEX revenue would be utilized as follows:
Guaranteed 50% for BANANA Buyback and Burns
- We will buy back BANANA and burn it with 50% of Polygon DEX the revenue, guaranteed
Up to 10% for Contributor Incentives
- Earmark 10% of Polygon DEX revenue to be utilized for incentivizing ApeSwap contributors. Including, but not limited to: Core Team Members, Administrators, third-party contributors, and contributing projects
Up to 10% for ApeSwap Operational Expenses
- Carve out for ApeSwap day-to-day operational expenses such as marketing, tech subscriptions, tools, human resources, design, community engagement, etc.
Minimum 30% stored in ApeSwap Treasury
- With the considerations above, this would leave a minimum of 30% of ApeSwapâs Polygon DEX revenue to be stored in the ApeSwap Treasury for future use
Other Revenue Utilization
NFT Revenue
100% of revenue generated from any NFT initiatives (e.g., aftermarket sales, new sales, etc.) will be utilized for ApeSwapâs operational expenses. This does not apply to the current 50/50 agreement that ApeSwap has with NFA auction proceeds and staking pools.
ApeSwap does not have the intent to officially endorse or create any new NFT projects at this time, but if that became the case, it would fall under this revenue structure.
SS-IAO Revenue
95% of revenue generated from Self-Serve IAO launches will be used for ApeSwapâs operational expenses. 5% will be utilized as commission to compensate business development associates for arranging SS-IAOs.
Vault Fee Revenue
100% of fees generated from ApeSwapâs vaults will be utilized for ApeSwapâs operational expenses.
Other Revenue
Any other revenue generated from ApeSwapâs Marketing or Business Development activities will be utilized for ApeSwapâs operational expenses.
Burning Vaults Revenue Allocation
Historically, ApeSwap passed a governance proposal to utilize 10% of DEX revenue in burning vaults for long-term burn BANANA mechanics. Unfortunately, due to many protocols with yield farms for Ape LPs sunsetting, ApeSwap was forced to deprecate our burning vaults. This proposal would give ApeSwap permission to use the accumulated fees originally intended for burning vaults for operational expenses.
