Yuga Labs has thrown a grenade into the ApeCoin world, proposing to pull the plug on its DAO governance system and replace it with a shiny new model designed to get things done. CEO Greg Solano dropped the bomb on Thursday, saying ApeCoin DAO was "a bold experiment" that went sideways.
"What started with a promise has devolved into sluggish, noisy, and often unserious governance theater," he said.
Enter ApeCo - A Fresh Start for the Ecosystem
To breathe some life back into the ecosystem, Yuga Labs is pushing for a replacement, enter ApeCo. The goal? Cut through the noise, create a clear roadmap, and finally put resources into building the core pillars of the ecosystem: ApeChain, Bored Ape Yacht Club, and Otherside. They’re also aiming to empower real builders with milestone-based grants and tighter accountability.
Born in 2022, ApeCoin DAO launched ApeCoin as an Ethereum-based token, but the decentralized governance system quickly got bogged down. It became a playground for inefficiency, bad actors, and over-politicized drama, according to some community members. "It's been nothing but a joke," one user tweeted. "Yuga would be better stewards."
Seriously though, I’m so out of the Dao things that this might be stupid or unfeasable, but why not dissolve the Dao?
— DFarmer (@OGDfarmer) June 1, 2025
It’s been nothing but a joke, and a drag on the entire ecosystem, pillaged and slow and inefficient and overpoliticized since inception, with unaligned bad… pic.twitter.com/SSvMU5UWzh
If the proposal gets the green light, the ApeCoin DAO will be history. Token holders will lose their governance rights and all related powers, including the previous ApeCoin Improvement Proposals (AIPs) and delegated authorities. It’s basically a hard reset.
Surprisingly, the proposal is getting mostly positive feedback in the ApeCoin forum, and while it’s currently just for checking community sentiment, it could soon be official. Meanwhile, Yuga Labs recently sold off high-profile NFT assets like Moonbirds, CryptoPunks, and Meebits, showing they’re getting laser-focused on their core ventures.
ApeCoin's price? Not great. The token is currently sitting at $0.73, a 50% drop in the past year, and a staggering 97% fall from its all-time high of $26. Ouch.
Tanya Petrusenko
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