ApeSwap turns to its community with promises for sustainable growth through Prop 17.
Governance Round V
The ApeSwap community will be voting for a single proposal, Prop 17 that is growth centric with proposals to optimize revenue and utilize Treasury funds. The Governance Snapshot for Round V is set for February 24 at 22.00 UTC.
Community members that hold $GNANA during the snapshot will be entitled to cast their vote on the proposal. In a nutshell, the proposal aims to utilize Treasury funds over a period of 6 months and to optimize its revenue utilization.
Treasure Utilization Breakdown
If the community passes the proposal, the team will be able to utilize funds from its Treasury according to the following breakdown.
Marketing will have the biggest allocation from the Treasury, up to $750k, to cater for expansion and marketing initiative. The funds will be used for paid media, graphics, design, videos, influencers and others. The second largest allocation goes towards human resources that will be focussed on marketing, business development, technical development and community work.
Other areas that will benefit from the Treasury funds will be for grant and growth, smart-contract audits and infrastructure.
Revenue Utilization
ApeSwap protocol generates an income from a suite of services. Half of the revenues will be utilized towards creating a deflationary pressure through a buyback and burn scheme.
Contributor incentive, operational expenses and DEX optimization will have an allotment of 10% for each category. The balance is kept in the ApeSwap Treasury for future use. Income from other sources of revenue such as NFT initiatives, vault and SS-IAO will be fully utilized for operational expenses.
Towards Sustainability
Governance is a crucial part of any protocol. There must be a balanced distribution of resources that caters for development, growth and a healthy tokenomics. Community participation is important and the governance structure ensures that interested parties can decide in the protocol’s future.
What is ApeSwap?
ApeSwap is a DEX that offers a wide variety of services on BNB Chain and Polygon. There are two tokens that exist in the ApeSwap ecosystem. $BANANA is the native currency of the ApeSwap platform and $GNANA (Golden Banana) is to allow community members to participate in governance and other benefits.
Official links to ApeSwap’s socials are available below:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
