I am late to the new @OtherEggGenesis event, but finally diving into it. I've enjoyed the previous one's so looking forward to it. Thanks for continuing to build @Moonlyght_eth
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@mfigge@illionotherside@MakaveliDlaCruz Interesting. If my shadow (delegated from vault) is in the wallet connected to my glyph wallet, do I still need to connect my cold wallet to glyph as well?
Today we're making changes to ApeCoin.
Yuga Labs and ApeCo (fka Ape Foundation) coordinate, but operate in parallel. To keep the orgs and leaders in sync, a coordination tax is paid in additional handoffs and added decision-making checkpoints.
This made sense when the lack of regulatory clarity forced crypto to contort into strange formations just to ship.
That era is over, and we need to reset from first principles.
Simpler, with less coordination tax.
Cam helped build and lead ApeCo, and heโs fully aligned with me on this reboot. With the reset, the separate ApeCo lead role no longer makes sense in the same way. Cam is stepping down from that role.
The core ApeChain tech and BD teams will now work directly with Yuga, so the chain and its partners will be well served. Some other members of ApeCo will be departing - theyโre really great people and weโre thankful for their hard work. This transition will be complete by June 5th.
ApeCoin should not feel like a separate bet from all the other progress Yuga is making with its brands. Everywhere else we are building holders with real conviction and ApeCoin will be no different.
So Iโm currently planning a roadshow in June with key and prospective partners, exchanges, investors, institutions and community members in Hong Kong, Shanghai, Taipei and Seoul. Weโre going to show up in person and build the relationships that move BAYC, Otherside, and ApeCoin forward together.
This is a first step, but not the only step.
so let me get this straight
in the last cycle
people didnโt know whether or not
launching a token
would be totally chill
or would be totally jail
because the SEC wasnโt willing to establish modern rules
so to be safe
donโt launch a fungible token in a US jurisdiction
get really good lawyers
who will tell you how to navigate
a mission impossible laser room of jurisdictions
so you donโt get in trouble with your little coin
then someone you donโt know
and will never meet
will launch your tokenโs smart contract in BVI or Panama
or wherever itโs chill to do that
so โyouโ didnโt launch it
for tax purposes the token will get appraised at de minimis
so you donโt get fucked on taxes with a fortune of phantom income at tge
treasury is managed off-shore
by a โFoundationโ
put a DAO in front to advise the Foundation
on how to distribute a token
by voting on different proposals
people organize
beauracratize
and participate in a
pure democracy where the richest people have the most votes
and winners get free money?
but at least thatโs a reason to buy the token
builders try really hard
get disillusioned by proposals
get scorned by other participants
get blamed when its not working
pitchforks
dissolve dao
but then rich people holding tokies to control the ballot have no reason to hold
market sell
price down only
everyone jaded
all because
navigating a grey zone legal landscape
from washington beaureaucrats who didnโt want to set a clear policy
tokie ATL
but now
new leadership
is autistic at simplifying
and thinks a bunch of shit doesnโt make sense
and is going to tear down and rebuild
and streamline everything until its coherent
did I get that right?