Yuga Labs proposes to dissolve the ApeCoin DAO and intend to take over the ecosystem by a new entity, ApeCo

PANews
PANews
APE-6.75%

PANews reported on June 6 that according to Decrypt, Greg Solano, CEO of Yuga Labs, the creator of Bored Ape Yacht Club, proposed to abolish the ApeCoin DAO, planning to transfer its assets and responsibilities to Yuga's new entity ApeCo and terminate the governance rights of all APE holders. Solano criticized DAOs for being inefficient and wasting resources, saying "it's time to stop." If the proposal is passed, the DAO will be completely dissolved, all outstanding proposals will be invalidated, and ApeCo will lead the development of ApeChain, BAYC and Otherside projects. Voting may open next Thursday (June 13, Beijing time).

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