Greg Solano, CEO of Yuga Labs, has proposed dissolving the ApeCoin DAO and replacing it with a new entity, ApeCo. His plan involves moving most ApeCoin DAO and Ape Foundation assets to ApeCo, except for funds reserved for staking, legal duties, and necessary expenses. Solano explained that the current DAO structure lacks the speed and precision required for long-term crypto development.
He stated the DAO helped launch ApeCoin but now suffers from inefficiency, poor governance, and low-quality project approvals. Many past initiatives offered little impact, and decision-making has slowed product progress. Solano believes that ApeCo will alleviate those challenges and enhance development throughout the fundamental layers of the ecosystem.
ApeCo will govern the future of ApeCoin with a focus on three domains: ApeChain, Bored Ape Yacht Club, and Otherside. These builders will only be supported through more stringent funding criteria as well as milestone-based grant models. According to the proposal, this structure will deliver faster product releases and eliminate decision gridlock.
ApeCo set to inherit all DAO assets
ApeCo will receive all leftover DAO assets after setting aside 11.25 million APE for staking contracts and 10 million APE for legal and transition needs. These assets include digital currencies, domains, smart contracts, and intellectual property. All governance rights tied to tokenholders will end, including working groups, elections, and previous AIPs.
Solano emphasized this move will allow ApeCoin to function as a cultural and financial engine with a clear direction. The proposal also empowers the executive director of the Ape Foundation to supervise this transition with full discretion.
Solano intends to build a transparent and accountable leadership framework that actually empowers builders, instead of antiquated forms of governance. This transition requires no new funding, as the costs are fully covered by the DAO treasury.
