The CEO of Yuga Labs, Greg Solano, presented a proposal to improve APE entitled “Sunsetting The Dao and launching APPO” in a tone to reduce the decentralized autonomous organization of two years and pass its assets to a new entity to “supercharge the ECOSYSTEM APE”.
Solano called the DAO “Slow governance theater, noisy unwned” that finances “proposals for vanity and low impact initiatives.”
He argued that a thinner vehicle controlled by Yuga Labs can “eliminate the stagnation” and push the capital only to “high caliber projects” in three pillars: Apechain, Ape Yacht Club and otheride of Yuga, the betting bet of Yuga.
According to the Plan, I would first exceed the rethinking contract with 11.25 million APE ($ 8.3 million), it would reserve 10 million AP for legal and transition costs, then everything else would be swallowed in the treasure of the foundation, from tokens and domains to intelligent contracts. All powers of active governance, working groups and future AIPs would be eliminated if the proposal is approved.
At this stage, the publication is only a temperature verification, as a formal vote in the chain should follow before the dismantling begins.
If approved, APPO would begin financing the reference, closing the DAO infrastructure and redirecting to the last ape in its new war chest, marking the end of one of the governance structures centered on the NFT plus Crypto’s high profile.
