Brace yourselves, because things are about to get chaotic…
- Yuga Labs CEO Greg Solano wants to pull the plug on the ApeCoin DAO and make a dramatic exit for its assets into the mysterious world of ApeCo.
- Solano has some *opinions* about the DAO, calling it inefficient and more “governance theater” than a productive organization. 🙄
- If the proposal passes, say goodbye to the NFT-centric chaos and hello to streamlined control. 🤖
“We’re shutting this thing down and transferring all the cool stuff to a new platform called ApeCo, where things will *finally* get done.” You know, because what the world needs is yet another organization with ‘Ape’ in the name. 🙃
Solano goes full savage on the ApeCoin DAO, calling it “sluggish, noisy, and often unserious governance theater” – yikes. He claims that the DAO’s been funding vanity projects and pointless proposals that are more about egos than impact. Are we surprised? 😂
His solution? ApeCo. A “leaner, meaner” structure that’s supposed to eliminate the “gridlock” and funnel money only into the *important* stuff. You know, just *ApeChain*, *Bored Ape Yacht Club*, and *Otherside* (their big metaverse gamble). Because what could go wrong with more control in the hands of one company, right? 🙄
Under this proposal, ApeCo will grab a massive 11.25 million APE ($8.3 million) to top up the staking contract, save 10 million APE for legal stuff (because lawyers, always), and take whatever’s left in the treasury – tokens, domains, smart contracts, you name it. All active governance powers? Gone. Future AIPs? Out the window. 😬
Right now, it’s just a “temperature check,” so don’t start breaking out the confetti just yet. A formal vote will follow, and if the community *actually* approves this, the ApeCoin DAO’s infrastructure will crumble, and everything will be funneled into ApeCo’s shiny new treasure chest. *Goodbye* to one of crypto’s most… *memorable* NFT governance experiments. Bye-bye, ApeCoin DAO! 👋
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2025-06-06 13:16