Official ApeCoin or ApeChain announcement, or technical implementation update

ApeCoin DAO Introduces $100M 'Banana Bill' to Boost ApeChain Development with $APE Incentives

Jun 17, 2024, 05:47 PM

The ApeCoin DAO community has been presented with the 'Banana Bill,' a $100 million proposal aimed at fostering activity on ApeChain. The bill, which is now live on the ApeCoin forum, includes two main initiatives: a Commercial Agreements Initiative to negotiate deals with projects, companies, and protocols committed to building on ApeChain, and a User Incentives Initiative to provide rewards for ApeChain users. The proposed budget allocates 23 million $APE for user incentives and 73 million $APE for commercial agreements. Prominent figures in the ApeCoin community, including Special Council member Waabam_eth and candidates for Special Council & Steward, have emphasized the importance of this funding for ApeChain's development. A town hall meeting was held to discuss the proposal, with Waabam_eth noting that the bill is on an expedited timeline and may go up for a vote later this week. The bill aims to bring developers and their followers to the ApeCoin ecosystem, with $APE being used as gas for ApeChain protocols. The advisory board for the Banana Bill will include leaders in Web3 gaming and venture capital to help onboard builders to ApeChain. During the town hall, blockchainzilla from HorizenLabs highlighted the significant interest from protocols and game developers in building on ApeChain.