My First DAO Proposal: ApeCoin Allocation For Benji Bananas Play 2 Earn Game

Category: Core — Ecosystem Fund Allocation
Author: 0xSword (Todd)

ABSTRACT

This document proposes the use of APE Ecosystem Funds to grant additional ApeCoin to the Benji Bananas Play-To-Earn pool. Outlined below are allocations for an additional 425,000 ApeCoins to be added as incentive for the first game making use of the ApeCoin token.

MOTIVATION

The main motivation behind this proposal is to meet and exceed Animoca’s initial allotment of 125,000 ApeCoin. It is proposed that by doing this we can encourage play-to-earn games to be viewed as more viable in markets worldwide. There are no additional costs to implement or add these funds to the existing pool. The amount proposed for this allotment will be paid for through the APE Ecosystem Fund for the use of accelerating adoption of the Ape Token.

RATIONALE

It is essential to launch these games in a successful manner that sets the DAO up as a powerful force able to fuel and inspire new ideas. Amongst communities connected to ours in popular Twitter Spaces, there’s been a great deal of talk about how ApeCoin could bring Pay-To-Earn games to the forefront, able to encourage mass adoption in the genre.

Animoca’s Benji Bananas game is the first that will integrate earning these tokens through ingame actions. There have been 5000 minted passes sold that allow the holders to earn a new item ingame that can be transferred or traded for ApeCoin. It was recently announced that 100% of the ApeCoin used to purchase the passes will be available for initial pool.

SPECIFICATIONS

Animoca has currently allocated 125,000 ApeCoin to the initial pool.
DAO has currently allocated 0 Apecoin to the initial pool.

STEPS TO IMPLEMENT

Animoca announced a smart contract and legal audit expected to finish in April.
Upon creation of this initial pool the DAO will transfer 425,000 additional ApeCoin.

TIMELINE

This is the first game to utilize ApeCoin and the play-to-earn feature is expected to be launched within the month of April. Currently 5,000 membership passes are distributed.

OVERALL COST

425,000 ApeCoin to be added to the initial earning pool of this game.