Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC), has proposed disbanding the ApeCoin DAO, a decentralized entity established in 2022 to oversee the ApeCoin (APE) Ethereum token. CEO Greg Solano's suggestion aims to transfer all DAO assets and responsibilities to a new entity called ApeCo. This move is intended to simplify governance, which Solano believes has devolved into ineffective processes. He characterized the DAO's operations as having become sluggish and overly focused on low-impact initiatives. The proposed shift seeks to reinvigorate the ApeCoin ecosystem by concentrating on key areas such as ApeChain and the Otherside metaverse game. If the proposal passes, it would nullify previous governance rights and proposals within the DAO and streamline operations under ApeCo. The initial reception from the community has been largely positive, with strong support for ending the DAO's tenure.

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