The post Yuga moves to kill ApeCoin DAO, transfer $168M in assets to new entity appeared on BitcoinEthereumNews.com.

Yuga Labs has proposed dissolving the ApeCoin DAO and replacing it with a new governing body, ApeCo. This would mark a decisive shift in the management structure of one of Web3’s most recognizable token communities. Filed as an AIP proposal on June 5, the plan would sunset the DAO and transfer all major assets, including treasury funds, IP rights, smart contracts, and administrative operations, to a newly formed corporate entity led by Yuga. The proposal arrives amid growing dissatisfaction with the DAO’s performance. Greg Solano, co-founder of Yuga Labs, described the organization as having become “sluggish, noisy and often unserious,” declaring “it’s time for ApeCoin to sunset the DAO and get back to winning.” In a post on X, Solano argued that “people want to kill the ApeCoin DAO” and called for a “leaner, faster org to take the reins.” The envisioned transition would entail migrating the DAO’s assets, which include approximately 169 million APE tokens currently valued at over $168 million, into ApeCo’s control. If approved, ApeCo would assume full responsibility for managing the grant program, directing ApeChain development, and overseeing key brand initiatives associated with the Bored Ape Yacht Club ecosystem. ApeCoin Treasury (Source: ApeCoinDAO) ApeCoin DAO was launched in March 2022 to steward the community-driven evolution of the Ape ecosystem through decentralized governance. However, the DAO’s performance has drawn mounting criticism from core stakeholders, including Yuga, particularly around low voter engagement and operational stagnation. The ApeCo proposal builds on an earlier governance revamp approved in January through AIP-582, which moved ApeCoin governance on-chain via ApeChain with 93% support. That measure shifted the bulk of the treasury into the ApeChain ecosystem, but the new proposal effectively renders that effort moot by dissolving the DAO entirely and centralizing governance under a new legal entity. Apes united? Community response has…

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Filed under: News - @ June 6, 2025 3:29 pm