Wu said that Animoca Ventures initiated proposal AIP-438 in ApeCoin DAO, suggesting to co-found ApeCoin Ventures with ApeCoin. The fund size of ApeCoin Ventures is 10 million US dollars, of which ApeCoin DAO needs to allocate 5 million US dollars worth of APE (Animoca Ventures will sell it for legal currency after receiving it), and Animoca Ventures will invest 5 million US dollars. The fund will invest in Web3 projects in the seed round and A round, and the current voting support rate is 83.49%.