| Cryptocurrency | Price (USDT) |
|---|---|
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| ETH | $2427.5320000000 |
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| LINK | $13.3316700000 |
Category: CRYPTO NEWS
The post ApeCoin community backs founder-led governance overhaul appeared on BitcoinEthereumNews.com. The DAO era may be closing for ApeCoin, with community members signaling a cautious but clear desire to hand the reins to a new, more centralized structure called ApeCo. ApeCoin DAO appears poised for a major shakeup as many members rally, though not without some hesitation, behind a plan from Yuga Labs’ Greg “Garga” Solano to potentially replace the current system with a more focused, founder-led model called ApeCo. At its core, AIP-596 proposes sunsetting the ApeCoin DAO by ending tokenholder governance and transferring control to ApeCo, a Cayman-based entity created by Yuga Labs. The reason: the organization “has devolved into sluggish, noisy, and often unserious governance theater,” Solano writes. “ApeCoin DAO was a bold experiment, but one born of a different era. What started with promise has devolved into sluggish, noisy, and often unserious governance theater. Too many resources have gone to vanity proposals and low-impact initiatives.” Greg Solano The new structure aims to “supercharge the APE ecosystem” by focusing resources on three key pillars: ApeChain, Bored Ape Yacht Club, and Otherside. ApeCo is designed to cut through governance gridlock by replacing broad voting with a governance-lite model, featuring stronger leadership and faster decision-making. It plans to accelerate product development, raise the bar on funding quality, and focus capital on impact and alignment, all while maintaining existing commitments such as staking contracts. By shifting operational control away from the DAO and into ApeCo, the proposal aims to focus on “quality, impact, and alignment with the core of what ApeCoin is meant to power,” according to Solano. Still aligns with web3 principles Animoca Brands, an early participant in the ApeCoin DAO, expressed understanding of the shift, with co-founder Yat Siu emphasizing that such decisions reflect the will of the community. In an interview with crypto.news, Siu noted that while Animoca…
2025-06-20T02:42:35+00:00