- The ApeCoin community voted to donate $1 million to Ethereum’s development.
- The proposal was inspired by Vitalik Buterin’s tweet, which the ApeCoin community used to title the proposal.
- ApeCoin supporters have also voted to fund a 24-hour ApeCoin news website.
The Ape Coin Community (APE) has voted to donate $1 Million to help in the development of Ethereum, according to a voting proposal. The proposal, AIP-230, was titled “I don’t hate apes, I just want them to fund public goods!” about a tweet by Vitalik Buterin.
The voting motion received 15,772 votes – 7,286 in favor, 4,737 against, and 3,749 abstaining.
The proposal sought to accomplish several objectives, including giving back to the Ethereum community, advancing development work on account abstraction, and introducing developers to ApeCoin.
To meet these objectives, the community intends to donate $300,000 to ETHGlobal. The remaining $700,000 will go toward funding 11 ApeCoin hackathons and at least five public good initiatives.
The proposal’s author, Maariab, noted that the community would select the judges for the hackathon. Concerning the motivation, they stated that it was critical to support Ethereum:
“ApeCoin would not be possible without Ethereum. As a public good, Ethereum benefits from shared responsibility and collective appreciation, and the ApeCoin community should make a concerted effort to support this ecosystem directly.”
The Agenda Includes Account Abstraction
Buterin’s tweet on March 22 sparked the proposal. Furthermore, the Ethereum co-founder made a statement about protocol-level account abstraction a few months later. Specifically, he suggested that we would already be in a ‘wallet security utopia’ if we had put a ‘fifth’ of the work into this area.
As a result, $50,000 of the $700,000 allocated to hackathons and good public initiatives will be used for account abstraction and initiatives related to NFTs, DAOs, and zk scaling. Account abstraction is already the subject of an Ethereum proposal known as EIP-4337.
What is going on in the ApeCoin Ecosystem?
Other votes have taken place in the ApeCoin community. This includes voting to establish the Bored Ape Gazette, a 24-hour news website dedicated to the Bored Ape Yacht Club. ApeCoin staking is now available, giving the token more utility.
Voting on an ApeCoin DAO NFT marketplace is another option. The token and its community continue to wield significant power in the NFT space. More votes will likely be cast shortly.
