ApeCoin DAO to Fund $150,000 for New Site!

Bored Ape Gazette has announced that it will use the funds to create and pay for a newsletter and revamp its website. The proposal, also known as AIP-70, was put to a vote. More than 1.1 million ApeCoin tokens voted in favor. In addition, 149,000 ApeCoin tokens voted against the proposal to allocate $150,000 to fund the Gazette. The agreed funding is expected to be provided for an average of one year.

The proposal also details plans to add price trackers for ApeCoin as well as activity trackers on the BAYC, MAYC, BAKC and Otherdeed Ethereum NFT collections. The team will pay its sole writer and editor, Kyle Swenson, $7,000 per month to create content. In addition, with the remaining funds, employees will be paid $100 per article in order to recruit writers from the ApeCoin community. Whether a site written by BAYC supporters and funded by the ApeCoin DAO would be unbiased has been controversial. Furthermore, given that Swenson himself is a longtime BAYC owner, questions have been raised about the risk of blatant biased reporting. Kyle Swenson has commented on this issue. He stated that 'objective reporting is very important to him'. He also stated that he would 'always be the voice of the community and be balanced when publishing anything'. Overall, the vote was overwhelmingly approved, but it sparked some reactions on social media. According to most of the reactions, this initiative is completely unnecessary. There were Problems in the Previous Vote! In the AIP-41 proposal, the ApeCoin DAO community aimed to choose the Blockchain where BAYC would be hosted. In the first phase, an overwhelming majority of 99 percent wanted ApeCoin to stay on Ethereum. The Bored Ape community did not want to switch to Ethereum Layer-1 competitors like Avalanche. However, the project's creator, Yuga Labs, had bid to move ApeCoin to its own chain to improve scalability. The offer came on the heels of the much-anticipated Otherside NFTs minting in April.   Source: nfxhaber.com