The post Yuga Labs Proposes ApeCoin DAO Dissolution via AIP-596 Vote – Coincu appeared on BitcoinEthereumNews.com.

Key Points: Dissolution vote for ApeCoin DAO proposes asset transfers to ApeCo entity. 3.5% circulating tokens needed; 99.19% approval rate from current voters. CEO Solano criticizes governance, seeking streamlined efficiency. Yuga Labs has started the voting for the AIP-596 proposal to dissolve the ApeCoin DAO. The proposal includes transferring responsibilities to ApeCo, a newly established entity. Current executive director Cameron Kates and key team members will lead ApeCo’s team. Voting will need 3.5% participation of all circulating tokens and requires a 66% majority to pass, with voting ending on June 26. Transitioning the governance structure could streamline decisions, with market observers closely watching the impact on associated assets and token holder influence. Yuga Labs Pushes for ApeCoin DAO Overhaul The transformation involves transferring $168 million in assets from ApeCoin DAO to ApeCo to improve efficiency. The proposal’s approval would alter resource allocation and operational dynamics within the Ape ecosystem. A high current approval rate of 99.19% suggests strong initial backing. Greg Solano, CEO, Yuga Labs, stated, “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.” Solano’s advocacy for a more focused organization emphasizes the potential benefits of ApeCo. Community reactions show a divide; while some welcome potential efficiency gains, concerns arise over diminished token-holder influence. ApeCoin Faces Volatility Amid DAO Transition Vote Did you know? In previous crypto governance shifts, token prices often exhibit volatility, reflecting changes in investor sentiment. ApeCoin (APE) is priced at $0.69 with a market cap of $515.68 million, according to CoinMarketCap. The 24-hour trading volume is nearly $65 million, with a 2.11% price increase observed within the last day. Over the past 60 days, APE price surged by 62.82%, reflecting growing market engagement. ApeCoin(APE), daily chart, screenshot on CoinMarketCap…

---

Filed under: News - @ June 14, 2025 9:25 am