‘We have all this money, now we just need stuff to spend it on’ – BAYC / ApeCoin community

TL;DR

• The ApeCoin DAO simply funded an accelerator that may construct services that require ApeCoin as cost.

• The extra thrilling ApeCoin dependent merchandise & companies there are → the extra folks will use them → the extra demand their is for ApeCoin. (Not groundbreaking. However good.)

• The spectacular half is the truth that a bunch of crypto degenerates are responsibly managing a ~$400M treasury.

Full Story

That headline is not a direct quote (we made it up). But it surely summarizes the intent of this newest transfer from the ApeCoin neighborhood.

When ApeCoin launched, a bunch of the tokens had been put into the ApeCoin DAO (aka an enormous ‘pot’ of cash).

This pot of cash has since been used to fund new concepts / merchandise / companies throughout the world of ApeCoin/Bored Ape Yacht Membership (BAYC).

The fundamental gist is that this: proposals are made, and anybody that holds ApeCoin can vote on them (the extra ApeCoin you maintain, the extra votes you get).

Which brings us to the DAO’s newest determination:

Principally, there’s a complete bunch of ApeCoin holders on the market that need extra issues to spend their ApeCoin on. So that they voted to take a bit of cash out of the ApeCoin DAO, and create a second pot.

This second pot of cash shall be used particularly to construct services that require ApeCoin as cost.

That is the kind of time-tested fiscally accountable funding that’d make your dad proud.

That’s to say, it is not a groundbreaking method. But it surely’s nonetheless good.

The thought behind the method being:

The extra thrilling ApeCoin dependent merchandise & companies there are → the extra folks will use them → the extra demand their is for ApeCoin.

(And the extra demand there may be for a scarce asset, the better its general worth).

It is the identical concept as: the extra nice merchandise Apple places out/sells, the extra useful Apple inventory turns into.

Not groundbreaking. However nonetheless good.

The spectacular half is the truth that a bunch of crypto degenerates are responsibly managing a ~$400M treasury.

(Truthfully did not see that coming).