The Yuga Labs is pushing to overhaul the APECOIN ecosystem with a proposal to close the Apecoin Decentralized Autonomous Organization (DAO) and replace it with a new management entity called APECO.
In a new APE (AIP) improvement proposal, Yuga Labs CEO Greg Solano Says DAO plays a critical role in the early momentum of the project, but since it has been disfunctional. The executive said the DAO is getting a way of significant development.
“The one who started the promise was that it was dedevolved in lazy, noisy, and often unnoticed management theater,” Solano said. “Too many resources have come to measures of vanity and low -impact initiatives.”
Solano said the next chapter for APECOIN requires sharper focus, faster implementation and a more professional operating model. “People want to kill Apecoin Dao. This AIP only suggests. It’s time for a thinner, faster org to take reins,” the executive write In X.
Yuga recommends a complete Dao wind falling
The proposal outlines a complete termination of the DAO management system, including the removal of all management rights held by the tokenholders, which dismissed the previous AIPs and melting of working groups and elections.
DAO’s possessions, which include Apecoin (Ape) Tokens, intellectual ownership, intelligent contracts and infrastructure, will be transferred to the new management entity, APECO.
The Executive said APECO will set a higher bar for what initiatives will receive support, taking a more disciplined approach to funding.
The organization will be established directly by Yuga Labs and will be responsible for supporting high-caliber builders. In addition, it is a role in bolstering ecosystem projects such as Apechain, Bored Ape Yacht Club (BayC) and others.
“We are building the best crypto chain and expanding the most -Conic brand in NFTS,” Solano wrote. “Apecoin should be economic machine for the future.”
Related: Yuga Labs sells Moonbirds IP to Orange Cap Games
Yuga Labs proposal gets community support
The answers to the proposal are mostly supportive, with a lot of welcoming moving towards a more focused structure. User thediDiablo777 pronounced enthusiasm. “I support it and I’m happy to see it in motion,” they said.
Community member Apewhale said there is fatigue and inability to the DAO model. “Dao’s fatigue is true. Apeco’s sound is like reset we need clearer ops, stronger leaders write.
Despite the support, not everyone is aligned with the move. Community member Lanzer Stop On the move, it is called “bad optics” for its Yuga labs and CEOs. The user criticized the proposal’s control and declined the idea that the DAO failed.
“I don’t think Apecoin Dao should be absorbed by Yuga,” he said, expressing concerns around the adversity of events that led to the proposal.
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