Yuga Labs CEO Greg Solano has proposed the dissolution the ApeCoin DAO in favour of creating a new centralised entity called ApeCo.
The suggestion reflects a significant shift in governance strategy, moving away from a community-led model to a more controlled structure overseen by Yuga Labs. This plan involves transferring all assets and responsibilities from the DAO to ApeCo, which would take over management of projects such as ApeChain, the Bored Ape Yacht Club, and Otherside.
The proposal is currently open for review by ApeCoin tokenholders, who will decide through a formal vote whether the transition should proceed.
Source: Greg Solano (X)Why is Greg Solano proposing to dissolve ApeDAO?
In his official proposal, Solano described the ApeCoin DAO as “sluggish, noisy, and often unserious,” noting that whilst the DAO helped launch ApeCoin, it has struggled to deliver consistent, high-impact outcomes.
He criticised the DAO for funding what he described as “gridlock, governance theater, vanity proposals, and low-impact noise” and suggested that the decentralised governance model is no longer suitable for the ecosystem’s evolving needs.
Solano argues that a more centralised structure under ApeCo would enable faster decision-making and better allocation of resources, particularly towards core areas like ApeChain and the Bored Ape Yacht Club.
Source: ApeCoinWhat’s next for ApeCoin DAO?
If the proposal is approved, the ApeCoin DAO would be formally dissolved, with all its assets—including APE tokens, smart contracts, intellectual property, and technical infrastructure—transferred to ApeCo. Governance rights held by tokenholders would be revoked, and the DAO’s forums, elections, and working groups would be shut down.
The plan includes funding an existing staking contract with 11.25 million APE and reserving 10 million APE for legal and operational expenses during the transition.
The proposal now awaits a community vote from ApeCoin holders and a formal on-chain vote will determine whether the DAO’s closure and ApeCo’s establishment will proceed.
No Comment! Be the first one.