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Yuga Labs CEO proposed to dissolve the ApeCoin DAO and create a new entity called ApeCo.
According to the Gate News bot, Yuga Labs CEO Greg Solano has proposed a new plan to dissolve the ApeCoin DAO while creating a new operating entity called ApeCo.
The proposal points out that ApeCoin DAO can no longer meet current needs. The newly established ApeCo is built by Yuga Labs, aimed at promoting the development of the APE ecosystem and integrating the three core architectures of ApeChain, BAYC, and Otherside.
According to the proposal, after fully funding the staking contract with 11.25 million APE and retaining 10 million APE to fulfill legal contract obligations and other expenses, all remaining assets of the Ape Foundation and ApeCoin DAO will be transferred to ApeCo.
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