- The Bored Ape Yacht Club is entering the next stage of its development.
- It is launching the much anticipated $APE coin starting on March 17, 8:30 am ET for owners of Bored Apes, Mutant Apes, and any such owners who also have Bored Kennel dogs. Dogs alone are not entitled to $APE.
- The $APE entitles the owner to participate in the $APE DAO: “The APE Improvement Proposal Process (see Governance) will allow ApeCoin DAO members to make decisions regarding Ecosystem Fund allocations, governance rules, projects, partnerships, and beyond. ApeCoin DAO membership is open to all ApeCoin holders.”
- The Ape Foundation will steward the ApeCoin: “The Foundation facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with administering the decisions of the ApeCoin DAO, and is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community’s ideas have the support they need to become a reality. The goal of the APE Foundation is to steward the growth and development of the APE ecosystem in a fair and inclusive way. It utilizes the Ecosystem Fund, which is controlled by a multisig wallet, to pay its expenses as directed by the ApeCoin DAO and provides an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.”
- The initial Board for the Foundation is:
- Alexis Ohanian, Co-founder of Reddit; General Partner & Founder of Seven Seven Six
- Amy Wu, Head of Ventures & Gaming at FTX
- Maaria Bajwa, Principal at Sound Ventures
- Yat Siu, Co-founder & Chairman of Animoca Brands
- Dean Steinbeck, President & General Counsel at Horizen Labs
