ApeCoin DAO Votes on $3.6 Million APE-themed Hotel in Bangkok

The ApeCoin community votes on a proposal to build an APE-themed hotel in Bangkok, aiming to enhance BAYC IP exposure and increase ApeCoin’s visibility and utility.

Points

• ApeCoin DAO considers a $3.6 million proposal for an APE-themed hotel in Bangkok.
• The proposal aims to enhance BAYC IP exposure and generate revenue for the ApeCoin DAO.
• The vote shows strong community support despite mixed reactions.

The ApeCoin community is currently voting on a proposal to build an APE-themed hotel in Bangkok, Thailand. This proposal follows a series of developments within the broader Bored Ape Yacht Club （BAYC） community, which aims to expand the APE ecosystem.

On July 19, the ApeCoin DAO began voting on ApeCoin Improvement Proposal #448 （AIP-448）, dubbed the ApeCoin Hotel. The proposal seeks 410,000 APE tokens, equivalent to $3.6 million, to fund the construction of this themed hotel in Bangkok. According to the proposal, this initiative will enhance BAYC IP exposure, increase ApeCoin’s visibility and utility, and generate revenue for the ApeCoin DAO.

The proposal outlines that 50% of the revenues from themed rooms will be received by ApeCoin DAO for one year once these rooms are completed. The DAO will receive revenue from all themed rooms, including APE, BAYC, Otherside, Apechain, and Mocaverse. Funds will be returned to the DAO Treasury on a quarterly basis.

While the proposal has generated mixed reactions within the crypto community, it appears to have strong support from the broader APE community. Notably, around 5 million APE tokens have been cast as votes, with 4.6 million tokens （92% of the total） in support of the proposal. Interestingly, a single address, 0xC602, is responsible for 67% of the yes votes, contributing 3.1 million APE tokens.

This development follows the July 16 launch of the ApeChain testnet by the ApeCoin DAO. Earlier this year, the APE community approved the launch of a layer-2 network on the Arbitrum network. The network will use the APE token as both gas and governance tokens.

Greg Solano, one of the founders of Yuga Labs, acknowledged the limited activity on the testnet. However, he assured users that various decentralized apps developed by Yuga Labs will run on ApeChain once the mainnet is launched.

Furthermore, the ApeCoin DAO recently approved a proposal to register “.APE” as a new top-level domain （TLD） with the Internet Corporation for Assigned Names and Numbers （ICANN）.

解説

• Proposal Details: The APE-themed hotel aims to leverage BAYC IP for increased visibility and utility. The financial structure ensures a steady revenue stream for the ApeCoin DAO.
• Community Support: The overwhelming support for the proposal highlights the community’s confidence in the project and its potential benefits.
• Broader Ecosystem: This initiative is part of a broader effort to expand the APE ecosystem, including the launch of ApeChain and other decentralized applications. These developments are crucial for increasing the token’s utility and adoption.