Sin City Apes

DAO Fund

Explain where the money is coming from.
The DAO Fund is a fund that is run by all NFT Holders that stake their NFTs. The fund’s capital is from 100% of all sources of income, this will include casino earnings, creator fee earnings, metaverse, marketplaces, etc. the community will be able to dictate where the money should be allocated.

How Does The DAO Work?

A DAO, or “ Decentralized Autonomous Organization,” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited.
Ultimately, a DAO is governed entirely by its individual members who collectively make critical decisions about the future of the project, such as technical upgrades and treasury allocations.
Generally speaking, community members create proposals about the future operations of the protocol and then come together to vote on each proposal. Proposals that achieve some predefined level of consensus are then accepted and enforced by the rules instantiated within the smart contract.
Familiar hierarchical structures seen within large corporations give way to community collaboration under this framework. Each individual member of the DAO oversees the protocol at some level.

What is in the DAO?

100% of all sources of income will go into the DAO
100% of expenses of the project will be covered by the DAO
The DAO is the center of our ecosystem that EVERYTHING will be exported or imported by, meaning that everything will be decided by the DAO.
At the public Mint we will be the official inception of the DAO. At the inception date the DAO will start to direct all sources of income into it, with the funds in the DAO members will have the ability to vote on what assets to buy, sell, or hold onto etc.
We will have different frameworks in the DAO to make sure that major events/tasks will be executed ASAP, before everything else.
Everything will be decided by the DAO from the public mint and on, this means that members of the DAO will have the ability to decide if we keep or sell this Yacht, buy this club to host parties in, or if we add this game to our gambling website they will add the games.

DAO correlation to $APINA

The DAO returns will be directly correlated to the value of the $APINA token.
The DAO will have various investment vehicles making the DAO's Funds more volatile. because of the volatility and transparency of the funds in the wallet, the $APINA will be automatically updating the price correlation to USD every millisecond.
With this correlation it gives DAO member the incentive to make the best choices for their sake of the DAO, this is because the more returns the DAO makes, the more money members make.
When people are selling their $APINA token the liquidity pool will be the DAO's funds.
We are doing this instead of a regular type of dividend for the better sake of the DAO's returns. We can reinvest the funds back into the business instead of giving it away to people who just want a cash grab, and people who believe in the project can make more of a return in the longer term perspective.

Selling Fee

When people are selling their $APINA token the liquidity pool will be the DAO's funds.
When selling your $APINA tokens, there will be a 5% transaction fee, this covers the cost of DAO's transaction fees of selling assets to give you liquidity. on top of that we have a 10% creator fee to go back into the fund and give incentive for people to hold onto their $APINA Tokens.
This means that when you are selling your $APINA token, you think that it the return of the DAO will diminish lower by over 15%.
But we get that you don't want to keep your money sitting in your account forever, so after every 6 months of the staking period we will allow holders to sell 20% of their $APINA tokens without any creators fee.

How to be apart of the DAO

You will only be allowed into the DAO fund if you have a Sin City Ape currently being staked in your account on our website.
By staking your NFT, you will earn $APINA tokens, and each $APINA token will equal to 1 vote in our DAO
Last modified 7mo ago