Voting Begins for Proposal AIP-596 to Dissolve ApeCoin DAO, Ends June 26

Yuga Labs co-founder Garga.eth posted on X, stating that voting has begun on proposal AIP-596 to dissolve the ApeCoin DAO. The proposal aims to further reform the ApeCoin ecosystem and to orderly transfer assets and responsibilities to ApeCo, a new entity established by Yuga Labs.

The new entity’s team will consist of Cameron Kates, the current Executive Director of the Ape Foundation, along with other foundation members and members of the Banana Bill team. Garga.eth noted that this AIP requires a significant number of votes to pass, with participation from at least 3.5% of all circulating tokens and a two-thirds (66%) absolute majority in favor. According to the voting information, the vote will conclude on June 26, and the current approval rate stands at 99.19%.