I’d like to propose to add Yuga’s $APE token to the PLAY pie.
On March ’22 Yuga Labs raised $450M in a seed round to create the interoperable gaming metaverse Otherside. The APECoin will be the hard currency of Otherside.
Yuga promised to focus on interoperability and web3-native features, when the majority of other teams are building yet another MMORPG. This approach, together with the Yuga’s background as the leading company in the NFT space, make Otherside a very promising metaverse project and APECoin a nice addition to the PLAY pie
Yuga Labs Pitchdeck
Hey Gleb !
Thanks for you first post on the forum.
Could you try to post a vote poll in the porposal ? SO that we see after 7 days if the community would like to see it going forward to a snapshot vote.
thanks for putting this together ser.
One question that comes to mind: how this addition would impact the current assets (are we planning just to add or to replace one/multiple tokens simultaneously), and what’d be the allocation expected for this asset?
I think it would be reasonable to reduce allocation of the top 3 assets. Something like this:
The exact number is to be decided on phase 2.
Following up to the snapshot vote in favour to the inclusion of $APE in $PLAY, here below a proposed target allocation to consider for the upcoming $PLAY rebalancing.
The methodology remains the one originally introduced as part of the PLAY prospectus. Only a minor amendment is proposed, removing the original rule capping to 60% the max cumulative allocation of the 3 larger holdings.
Imho this is required to more effectively represent the current marketcap of the metaverse/gaming sector, dominated by far by few leading projects (Sandbox, Decentraland, ApeCoin & Axie).
You can find the proposed amended prospectus here and revised asset tracker.
You can find here below the the resulting allocation, inclusive of $APE.
NOTE: the Axie Infinity allocation resulted severely cut down to 5% in order to respect the max 3% slippage constraint for its allocation. The remaining was re-iteratively distributed pro-rata to other uncapped assets.
The more comprehensive spreadsheet can be accessed here.