A member of the ApeCoin Board of Directors, Yat Siu tweeted a thread for a revised staking protocol and a poll for the ApeCoin ($APE) CAP.
Yat Siu is also the chairman of the Animoca Brands and an active member of the ApeCoin DAO.
A few days ago, the $APE holders rejected the Ape Improvement Proposal(AIP) 4 and 5.
Yat said that they received a proposal from a credible third party blockchain developer. The proposal gives an assessment on a timetable for the development of AIP 4 and 5.
The proposal suggests a 14 week implementation plan for the new staking protocol. It also proposes 13 weeks of development for user interference. Both of these processes can be done simultaneously.
Although Yat feels that the three and a half month development process is fair, a 1 week audit might be too conservative. He believes that the proposed staking pool is substantial enough to require more care.
Yat also posted an $APE CAP per NFT poll for the future staking protocol. A majority of users, 53.3% exactly, voted for a 1x CAP. Keep in mind that the current CAP stands at 10,094 Ape tokens for BAYC and 2,042 Ape tokens for MAYC.
Yat thanks users for their time and encourages them to assess the discussions conducted on the ApeCoin forum.
The $APE was launched only a month ago by the creators of BAYC. The token launch was accompanied by an ApeCoin DAO launch. The DAO members were to make decisions regarding the Ecosystem Fund allocations, governance rules, projects, partnerships and more.
The DAO has stayed true to its principle of transparent and egalitarian participation. Active participation has been seen from all DAO board members as well as $APE holders. This explains the discussions surrounding a new staking protocol that have been going on for quite some time.
