Machi Big Brother Proposes to Purchase Yuga Assets with 11M $APE Tokens and Issue $DAM Tokens

Machi Big Brother, Jeffrey Huang, is initiating AIP-304 within the ApeCoin community, with voting set to begin tomorrow.

The proposal suggests using 11 million $APE tokens to purchase Yuga assets, including prominent NFT collections such as BAYC, MAYC, BAKC, and Punks, for exhibition and donation to art institutions to enhance the global dissemination of digital art.

If the proposal passes, a new governance token called $DAM will be introduced to curate and manage the NFT collection. Thirty percent (30%) of $DAM tokens will be distributed to ApeCoin stakers over 5 years, while the remaining 70% will be allocated to the treasury, subject to decisions made by token holders through voting.

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