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Yuga Labs proposed to dissolve ApeCoin DAO 🙊
Yuga Labs has proposed discontinuing the ApeCoin DAO and creating a new entity to develop the $APE token ecosystem
Greg Solano, CEO of Yuga Labs, called the ApeCoin DAO a bold but outdated experiment. He said the promising endeavor has turned into “slow, noisy and often unserious management theater.”
To preserve and improve DAO's only useful function - funding developers - Yuga Labs proposes to replace it with a new organization called ApeCo.
Resources will be focused on developing three key areas of the ecosystem: the ApeChain blockchain, the NFT Bored Ape Yacht Club collection, and the Otherside meta-universe. The company also plans to empower “real” developers through staggered grants and tighter oversight.