Introducing ApeSwap Governance 🗳
The Basics: About ApeSwap Governance 📝
As originally proposed, ApeSwap Governance is planned to revolve around our most essential long-term community members — those who hodl GNANA.
Here’s the TDLR on how ApeSwap Governance will work:
- GNANA will be the token that dictates a user’s ability to vote. Each GNANA owned by an address counts as one vote for any given proposal.
- GNANA must be actively held in the wallet to have voting power, staking in pools will not enable users to vote with that GNANA.
- Two types of proposals can be made: ApeSwap Core and Community. ApeSwap Core proposals will be made by the ApeSwap team and Community proposals can be made by anyone holding 2,500 GNANA or more in a single wallet.
- We’ll require a minimum quorum of 4% of the circulating GNANA supply for a proposal’s results to be honored.
- We’ll require a supermajority of 50%+ votes towards one proposal option for results to be honored.
If you’re interested in learning more about Governance, you can read the full details in the Official ApeSwap Documentation 🤓
The Red Carpet: Rolling Out ApeSwap Governance 😎
So guess what…? 👀 The Governance Platform is already live right now over at vote.apeswap.finance!
🔜 Please note no proposals are live, but planned to be implemented soon.
To kick things off, we’re planning on having 3 proposals go live this week for 48 hours each, starting on Wednesday July 14th. They are planned to be as follows:
BANANA Emission Adjustment 🍌
Since ApeSwap started, we’ve heard lots of varying opinions from the community on BANANA’s economic model. As a result, we’re going to be proposing a reduction in the BANANA emissions rate. Specifically, we are going to give users the following choices:
- Keep emissions as they currently exist (no change, 10 BANANA per block)
- Reduce emissions to 9 BANANA per block. Reevaluate afterwords
- Commit to reducing emissions to 5 BANANA per block, dropping the rate by 1 BANANA per block every other month over the span of 8 months.
Initial Ape Offering 007 Structure 🦧
For our next IAO, we’re planning to propose a different distribution structure to help future IAO participants be more long-term oriented. We will give the following options:
- Run the next IAO with the existing structure.
- Run the next IAO with a vesting schedule. 25% of tokens would be released to IAO participants as soon as the partner’s product is live. 25% of tokens would be released each month subsequently after that for 3 months.
In the future, we expect to use governance for IAOs quite frequently, with plans to make each future IAO we’re considering voted on for confirmation before we release it.
Tako BUIDL Graduation 🐙
One of our long-term partners and BUIDL Candidates is WAY overdue for graduation. We felt this served as a great opportunity to utilize governance.
If you’re unfamiliar with what it means to be in the BUIDL program or graduate from the BUIDL program, you can read up on it here in our original BUIDL program announcement.
The options will be as follows:
- Graduate Tako in BUIDL
- Do not graduate Tako in BUIDL
BUIDL graduations going forward will be determined by an ApeSwap vote. Graduates are eligible for:
- An ApeSwap Farm rewarding in $BANANA 🍌
- Collaborative marketing and business development 💰
- A kickback of your trading fees generated 📈
- Reimbursement of an audit expense 🛡
- Continued mentorship an BUIDL network access 🤝
Let’s get to Voting! ✅
We look forward to getting everyone involved in some of the key decisions that ApeSwap is making. This step towards governing ourselves through community votes is one step in our larger plan to decentralize how ApeSwap operates.
We look forward to continuing this journey for you all ❤️