Yuga Labs has proposed shutting down the ApeCoin decentralized autonomous organization (DAO) and creating a new entity called ApeCo. CEO Greg Solano criticized the existing DAO, stating it has become a slow and ineffective governance model, cluttered with unproductive proposals. The proposal entails eliminating all governance rights of tokenholders, nullifying past AIPs, and transferring the DAO’s assets—including ApeCoin tokens and associated intellectual property—to ApeCo. The goal of this new organization is to facilitate a more focused and professional governance structure to support the development of projects like ApeChain and the Bored Ape Yacht Club. Responses from the community have been predominantly supportive, citing a need for more efficient operations and stronger leadership. However, some members have expressed concerns about the implications of dissolving the DAO and the overall process leading to the proposal.

Source 🔗