[PIP-73] Add $APE to PLAY Pie + rebalancing

Hello,

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 :pie:

Yuga Labs Pitchdeck

4 Likes

Hey Gleb ! :slight_smile:

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.

  • FOR
  • AGAINST
  • NEED MORE INFORMATION

0 voters

1 Like

strongly 4

2 Likes

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?

Thanks!

Thanks!

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.

1 Like

:white_check_mark: 85.69%
https://snapshot.org/#/piedao.eth/proposal/0x1f616f6821ff97fdb12660f80d3554e79e9839181a83060551da493bcdc12d12

2 Likes

Summary

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.

Methodology

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.

Allocation

You can find here below the the resulting allocation, inclusive of $APE.

PLAY allocation - rebalancing

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.

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Do you support the proposed methodology amendment and resulting allocation for the PLAY index?

  • YES, I support
  • Let’s discuss more
  • NOPE, I’m against

0 voters

1 Like

Vote

https://snapshot.org/#/piedao.eth/proposal/0xe0048635b5baca752774ed44344a37a4977c2ee7c69ae90edc5f925cc8754e90

1 Like