The Bulletin Bored: AIP-70 + Weekly Updates from Maaria

Contributions to this week's newsletter made by @maariabajwa

Welcome to the 11th issue of The Bulletin Bored and the first as an official newsletter of the Apecoin DAO. I wanted to take a brief moment to thank everyone who took the time to participate in the voting process on Discourse and those who reached out to congratulate me on being one of the three newsletters nominated to represent the DAO. I’m ecstatic to be able to do so by providing weekly information and updates to the community.

For those reading my newsletter for the first time, I provide summaries of Live AIPs that goes up for a vote on Snapshot and also provide updates on other things happening in our DAO.

Maaria, one of the Apecoin DAO board members, has also graciously allowed me to incorporate pieces of her newsletter into this one. She is by far the most active member of the board in terms of working with the community and it is an honor to collaborate with her. It is great to see her interacting with people like me and working on growing the Apecoin DAO.

I will be utilizing Maaria’s news blurbs that pertain to Ethereum, NFTs, and Gaming, but her newsletter contains much more than that. She puts so much work into keeping us updated on what’s going on across many different markets and has been writing it for over three years!

The updates below come directly from Maaria’s Newsletter. Make sure you subscribe to and read her full version here.

• ETH broke $1.6k on Merge hype and a broader run-up in the equity markets. Global stocks had their best week in over a month, over speculation that the worst of the sell-off has passed. Odds show a 77% change of a 75-bp interest rate hike from the Fed (vs 100-bp hike).

• Ethereum founder Vitalik Buterin said the roadmap after the Merge includes the Surge, which increases scalability for rollups through sharding. Ultimately Buterin believes Ethereum will be able to process 100,000 transactions per second.

• NFT volumes fell 74% from May ($4B) to June ($1B). OpenSea represented 67% of volume.

• Minecraft banned NFTs from its platform.

• Epic Games said it would not ban NFT-games from its store. Epic's Store had 194 million users in 2021 and expects a number of NFT games to be released later this year.

• Animoca Brands is launching a gaming interoperability DAO called the Open Metaverse Alliance for web3 (OMA3). All blockchain-based metaverse companies are able to join the DAO.

• DeFi analytics dashboard Zapper added NFTs and DAOs to its v2 dashboard.

This week, the Bored Ape Gazette’s proposal to allow them to turn their current news outlet into a 24-hour news/media site is up for a vote, with two days left in the voting period. Let’s break it down.

When proposals are shared with the community, a majority of DAO participants are looking for how the proposal will have a positive ROI for the DAO. However, the Apecoin DAO is not an investment DAO. Instead, one of the DAO’s goals is to help provide grants and funding for people to build on their ideas and in turn help the Apecoin DAO ecosystem grow, develop, and flourish. While this proposal doesn’t include a feature like “a percentage of marketplace fees flowing back to the DAO”, the benefits it will bring are still apparent.

The Apecoin DAO is still in its infant stage with many people looking for guidance and direction. Because the DAO is so young, we don’t have any trusted sources of information so far. As a result, we aren’t really respected by the web3 space yet.

Trust and credibility play a major role in accomplishing things. Let’s look at one of the recent proposals as an example. AIP-36 involved making Guy Oseary a representative of the Apecoin DAO and granting him up to 1% of the Ecosystem Fund as a budget for Guy to utilize on behalf of the APE Foundation. It easily passed with a 94.15% approval rate due to Guy’s superb reputation as a builder and ambassador of the Bored Ape Yacht Club and numerous other companies and brands. If this proposal had a different, less popular name attached to it, it probably wouldn’t have passed due to the large amount of the Ecosystem Fund being allocated. It was the trust and familiarity with Guy that helped it pass.

What the Bored Ape Gazette is planning on building with their 24-hour news/media outlet will also bring trust and credibility to the Apecoin DAO and entire BAYC ecosystem. It will be a place people know they can go to for quality and timely information. In addition, it will help more people stay aware of what is going on inside the DAO without having to stay glued to their phones or computers all day. Furthermore, it can help increase awareness on projects throughout the entire web3 community.

In addition to writing this newsletter, I have also started helping people understand the process of writing a proposal and sharing some things the community is looking for in proposals.

When the DAO was first formed, I didn’t realize so many people weren’t completely sure how to write a proposal to meet the Apecoin DAO’s standards. So many ideas were not being discussed within the community because the process of how to begin was unclear. Helping people turn their ideas into official proposals is something I’m passionate about because it helps not only the Apecoin DAO community, but the entire Web3 space as well.

I am motivated to help build things that are not really possible in Web2. If you or anyone you know is looking for advice on how to write a proposal or who to reach out to in the community, please let me know.

Thanks for reading this week’s episode and I’ll be back with a new issue next week!

Disclaimer: As part of Apecoin DAO AIP-66, my grant agreement includes the Ape Foundation sending me 400 Apecoin per month for delivery of this newsletter. Nothing said by me in this newsletter or on Twitter should be construed as financial or legal advice. All opinions in this newsletter are my own and not representative of the Ape Foundation or Apecoin DAO in any way. The purpose of this newsletter is to inform the community about news, proposals and what is happening inside the Apecoin DAO and BAYC ecosystem, not a promotion of Apecoin or anything else in any way. By subscribing to this publication you give consent to use your email to send you issues of its newsletters and podcasts. You can view my Privacy Policy here.