The DAO Approved AIP-292& Will Look Into A Delegate Community Program. Here's What Happens Next:

The ApeCoin DAO will be looking into granting voting rights to various Web3 communities after the DAO passed Ape Improvement Proposal-292 last night.

On Wednesday, the $Ape community approved of AIP-292 titled ‘Inclusive Governance: Delegate Community Program,’ by ApeCoin DAO Contributor NFD.

"The passing of AIP-292 serves as validation that the community sees value in delegation,” NFD told the Gazette. “I'm looking forward to working with peers to bring forward an implementable program that fosters growth.”

As the Bored Ape Gazette previously reported, the goal of AIP-292 is to create the framework for the ApeCoin DAO give voting rights to various communities in Web3 in an effort to increase participation in the ApeCoin DAO and to attract more builders to the $Ape ecosystem.

“A delegate community is effectively a sub-DAO,” NFD previously told the Gazette. “The ApeCoin DAO would delegate voting rights (not the tokens themselves) to various communities in order to increase participation in the ApeCoin DAO and to attract builders from those communities to raise AIPs. Those communities would utilize their own NFTs/Collections as their voting tokens - in the same way Mocaverse does - and ultimately that would dictate the direction of their delegate vote.”

Note, last night’s approval of AIP-292 was only the DAO agreeing that it should look into the creation of a delegate community program. The DAO will have to vote again before any program goes into effect.

“Next step is working with the Ape Assembly to refine the final implementation," NFD said. "DAO voters will have the opportunity to vote on the final iteration.”

The Bored Ape Gazette will continue to follow AIP-292 and the creation of a possible community delegate program. Stay tuned for updates!