NiftyNoon: Is the $APE Special Council overpaid?

The community has aggressively critici(June 15, 2023)

Nifty Thought

• With $APE special council elections in full force, many have begun to criticize the salaries for various $APE DAO roles. While special council members are paid roughly $20K USD every month, the administrator role itself pays $75K USD per month. It is undeniable that the amounts being paid here are extremely high numerically. It is very plausible that the DAO could easily fill these roles for a far cheaper price. However, high salaries typically attract better talent that may ultimately create the framework that sets up the DAO for durable success in the long-term. It also may compel qualified executors that are concerned about legal and regulatory risks to take the jump for these roles. There is certainly depth and nuance to be had here beyond merely acknowledging that these salaries are very high. This is also the true beauty of the DAO. Because it is decentralized, the community can decide collectively to change the salaries for these positions to whatever it deems to be a fair market rate. In the end, this is a beautiful exercise showing decentralization in action and the outcome will likely be very impactful for the long-term viability of the $APE DAO.

Highlighted News

• “Today, we decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings,” Federal Reserve Chair Jerome Powell says:

  

  https://twitter.com/coindesk/status/1669053936198639620?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Adam Hollander tweets about $APE Special Council salary:

  

  https://twitter.com/hollanderadam/status/1668989021593190402?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Project and Community News

• OpenSea shares some NFTs got auto-delisted when they upgraded Seaport from V1.4 to V1.5. and encourages users to re-list items, gas free:

  https://twitter.com/opensea/status/1668652447622115329?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Polygon Labs will ask the community to consider a radical proposal for the Polygon PoS chain:

  https://twitter.com/fwiz/status/1669015451719069697?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Badges & Streaks' first new feature release- Grails:

  https://twitter.com/okaybears/status/1669021204789993473?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• SWOOSH announces the Our Force 1 Reveal is just one day away:

  https://twitter.com/dotswoosh/status/1669080364118097926?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• @rektmando’s opinion on Ape Special Council salary:

  https://twitter.com/rektmando/status/1668970697870176263?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Creature World live June 20th in NYC:

  https://twitter.com/creatureworld/status/1668726005454761988?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Chimpers introduce the Chimpers Animated Sticker App:

  https://twitter.com/chimpersnft/status/1669047829187158024?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Why did the Network $ NET token team remove liquidity, replenish (token only, no ETH), but then buy those deposited tokens right back using the withdrawn ETH:

  https://twitter.com/franklinisbored/status/1669147596210724865?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Franklinisbored apologizes for hacked account last Thursday:

  https://twitter.com/franklinisbored/status/1669127043517120513?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Someone just took a $14,500 loan on two Rolexes at 12% APR from a complete stranger all on-chain:

  https://twitter.com/cirrusnft/status/1669064880949985280?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• FAF added another ~$900k yesterday to purchase 8 more BAYC from Blur farmers and stake them all, becoming the third largest holder of BAYC:

  https://twitter.com/cirrusnft/status/1668989417363501065?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• In its first 14 hours, Boring Punks have done 13,000+ trades. That more than half the total trades Cryptopunks have done in their 6+ years of existence:

  https://twitter.com/punk9059/status/1668982442290544640?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Quick Stats:

• OpenSea Daily Volume: 2,364 ETH (▲ 1.16%)

• Blur Daily Volume: 8,914 ETH (▲ 63.01%)

• BTC: $24,934.84 (▼ 3.66%)

• ETH: $1,638.05 (▼ 5.89%)

• Solana: $14.82 (▼ 1.46%)

• Polygon: $0.62 (▼ 4.77%)

NFT Daily Winners:

• 🥔 Potatoz: 2.42 ETH (▲ 4.36%)

• 🥃 Proof Collective: 7.99 ETH (▲ 1.14%)

• 🌈 Doodles: 2.05 ETH (▲ 0.03%)

• 🏳️‍🌈 Chromie Squiggles: 10.49 ETH (► 0.00%)

NFT Daily Losers:

• 🚬 CryptoPunks: 50.19 ETH (▼ 0.42%)

• 🦧 Bored Ape Yacht Club: 45.22 ETH (▼ 0.46%)

• 🧟 Mutant Ape Yacht Club: 9.10 ETH (▼ 0.70%)

• ⛩️ Azuki: 16.55 ETH (▼ 0.84%)

• 🦉 Moonbirds: 2.03 ETH (▼ 1.84%)

• 🐧 Pudgy Penguins: 4.08 ETH (▼ 2.63%)

• 🐈‍⬛ VeeFriends: 1.72 ETH (▼ 2.88%)

• 🧝🏼‍♀️ DigiDaigaku: 2.50 ETH (▼ 2.96%)

• 🧬 Clone X: 2.18 ETH (▼ 5.13%)

• 🏴‍☠️ Captainz: 8.38 ETH (▼ 5.30%)

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