BIP#14: BendApeStaking Retroactive Funding


This proposal is proposed to seek community feedback that whether the Audit cost should be covered by the DAO Treasury when all the management fees generated by the BendApeStaking services will contribute to DAO Treasury.


BendApeStaking’s goal is to empower anyone holding Yuga assets to join the ApeCoin Staking. Initially, it is designed to facilitate borrowers’ eligibility for the staking when their Apes are used as collateral on BendDAO. Inspired by the community, now the BendApeStaking is open to all users holding Yuga assets.


BendApeStaking Specifications

The BendApeStaking functions as a Lego block in the BendDAO ecosystem.

Important features include:

  1. Existing boundNFT holders (borrowers) with ApeCoin

NFTs and ApeCoin are from the same address. Users can join the ApeStaking with the BendDAO Flash Claim feature. This should be within the scope of work of the dev team.

  1. Pairing for NFTs and ApeCoin

NFTs and ApeCoin are from different addresses. All NFT holders can pair with ApeCoin holders to join the ApeStaking. Pairing is a new feature that involves contract development and front-end deployment.

BendApeStaking cost:

  • Contract development and deployment
  • Front-end deployment
  • UI & UX
  • Maintenance and upgrades
  • Security Audit

BendApeStaking future income:

  • Management fees

Compensation Model

BendApeStaking is designed based on the Flash Claim to facilitate borrowers’ eligibility for the staking when their Apes are used as collateral on BendDAO. The dev team considers this a feature that must be done for the community. It is also one of BendDAO’s competitive advantages that protect the rights of borrowers. So the compensation for the dev team for the BendApeStaking development is not included in the proposal.

Option A:

All management fees will go to the DAO Treasury. DAO Treasury will retroactively fund the Security Audit of BendApeStaking contracts.

Option B:

No compensation from the DAO Treasury. But the management fees generated by BendApeStaking will go to the dev team instead of the treasury.

Third-party audit

The audit of the BendApeStaking contract is in process by Verilog. The Verilog team has done 2 audit reports for BendDAO.

Audit cost:

Verilog would charge $30K for the BendApeStaking audit. The payment can be done 50% in BEND token and 50% in USDC.

Audit timeline:

The preliminary report should be done in around 1 week this will need to sync up more often during the week to fully understand the business logic & core design principles. All the security checking will be finished in 2 weeks.

Next Step

To hear the community’s voice and seek community feedback.

Pre-voting in forum

  • Option A
  • Option B

0 voters