Yuga Labs CEO Greg Solano proposes to dismantle the ApeCoin DAO and replace it with a new, streamlined entity called ApeCo. The plan, pitched as a necessary evolution for the Bored Ape Yacht Club (BAYC) ecosystem, aims to keep ApeCoin out of its governance gridlock and accelerate growth by focusing on quality, speed, and impact.

Image Source: ApeCoin

Why End the ApeCoin DAO?

Launched in 2022, the ApeCoin DAO was a bold experiment in decentralized governance, giving APE token holders a say in the direction of the ecosystem. But according to Solano, the DAO’s promise has faded. “What started with promise has devolved into sluggish, noisy, and often unserious governance theater,” he wrote in his proposal, citing a proliferation of vanity proposals, low-impact initiatives, and a lack of strategic focus.

ApeCo

Solano’s proposal centers on the creation of ApeCo, a new entity designed to “supercharge the APE ecosystem” by supporting only the highest-caliber builders and projects. ApeCo’s mission is clear: reinforce the ecosystem’s three core pillars—ApeChain, Bored Ape Yacht Club, and Otherside, while raising the bar for funding and accountability.

Key features of the transition include:

1. Orderly wind-down of the DAO: All governance rights and powers held by tokenholders would be terminated. Previous ApeCoin Improvement Proposals (AIPs), working groups, elections, and forums would be dissolved.

2. Asset transfer: The DAO’s assets including APE tokens, intellectual property, smart contracts, and infrastructure would be transferred to ApeCo, with specific allocations for staking commitments and legal obligations.

3. Sharper focus: ApeCo will set a higher standard for what initiatives receive support, emphasizing milestone-based grants, tighter accountability, and alignment with the ecosystem’s core goals.

Community Reaction

The response from the ApeCoin community has been largely supportive. Many see the move as a long-overdue reset that will bring clarity, speed, and quality over chaos. “DAO fatigue is real. ApeCo sounds like the reset we’ve been needing with clearer ops, stronger leadership, and still space for the community to win. Let’s build smarter,” wrote one community member.

However, not everyone is on board. Some have raised concerns about optics and the abruptness of the transition, questioning whether dissolving the DAO is the best way forward. Still, the prevailing sentiment on the ApeCoin forum is one of optimism for a more professional and agile future.

New Chapter for ApeCoin

Solano’s proposal comes as Yuga Labs sharpens its focus, recently divesting several high-profile NFT brands to concentrate on its core offerings. With ApeCoin’s price down 97% from its all-time high, the stakes for revitalizing the ecosystem are high.

If the proposal passes, it will mark the end of an era for decentralized governance in the ApeCoin ecosystem but potentially the beginning of a new, more dynamic chapter. The community’s vote is now underway, and the crypto world is watching closely as the Bored Apes chart their next evolution.