TechFlow reports that according to Snapshot voting results, the proposal initiated by "Big Bro" Machi (Andrew Huang) to purchase Yuga assets with 11 million APE tokens has passed with 64.92% approval. The community will use 11 million APE to acquire Yuga assets, including NFTs such as BAYC, MAYC, BAKC, and CryptoPunks, for exhibitions and donations to art institutions to promote digital art globally. The APE allocation mechanism will be determined jointly with the ApeCoin Foundation.
It is also reported that ApeCoin DAO plans to launch a governance token called DAM for selecting and managing NFT collections. 30% of DAM will be distributed to ApeCoin stakers over five years, while 70% will go to the treasury, with decisions made through voting by token holders.
