Yuga Labs CEO Greg Solano Shakes Up Crypto World: Proposes End of ApeCoin DAO for a Revamped APE Ecosystem

Solano's Bold Move to Dissolve ApeCoin DAO

In a shocking twist, Yuga Labs CEO Greg Solano has thrown down the gauntlet, calling for the end of the ApeCoin (APE) governance body. After claiming to have "near-unanimous support" from the ApeCoin community, Solano's call to action has set the crypto world buzzing. Traders in the comments were all over it, many feeling like this shakeup was long overdue.

The Vision: From ApeCoin DAO to ApeCo

"People want to kill the ApeCoin DAO. This AIP proposes just that. It's time for a leaner, faster org to take the reins," Solano declared in a fiery post. Late on June 5, he dropped a bombshell proposal on the ApeCoin forum, "Sunsetting the DAO and Launching ApeCo — A New Operating Model for ApeCoin," aimed at dissolving the DAO and ushering in a new era. So far, 130 community members have voted in favor.

A New Dawn for ApeCoin?

Solano didn't hold back, calling the ApeCoin DAO "a bold experiment, but one born of a different era." He slammed it as "sluggish, noisy, and often unserious governance theater," pointing out that too much has been squandered on vanity and low-impact projects. The plan? Dissolve the DAO and introduce ApeCo, a fresh entity poised to revitalize the APE ecosystem.

ApeCo's Mission: Supercharge APE

In another post, Solano outlined ApeCo's ambitious mission to "supercharge the APE ecosystem by supporting high-quality builders and reinforcing three core pillars: ApeChain, Bored Ape Yacht Club, and Otherside." The proposal also detailed the transfer of all remaining assets from the Ape Foundation and ApeCoin DAO to ApeCo, except for funds needed for staking contracts, legal obligations, and other fees.

The Rise and Fall of ApeCoin DAO

Launched in March 2022, ApeCoin DAO was meant to be the heart of governance for ApeCoin, the Ethereum-based token tied to the Bored Ape Yacht Club ecosystem. It allowed APE holders to steer the ship, voting on everything from funding to strategic moves. But as time went on, the community started calling out the DAO for its inefficiencies and questionable spending.

Yuga Labs' Latest Moves

Adding to the drama, Yuga Labs has been shaking things up by offloading some of its top NFT brands. CryptoPunks now belong to the Infinite Node Foundation, while Moonbirds has landed with Orange Cap Games. It's clear that Solano and his team are not messing around—they're in for a total overhaul.