TechFlow news, June 6 — According to Decrypt, Yuga Labs CEO Greg Solano has proposed a plan to dissolve the ApeCoin DAO and transfer its assets and responsibilities to a new entity called ApeCo, created by Yuga Labs. Solano criticized the ApeCoin DAO as having "evolved from a promise into a slow, noisy, and unserious governance spectacle," with resources wasted on "vanity proposals and low-impact initiatives." The new entity will focus on supporting high-quality projects and strengthening the three core pillars: ApeChain, Bored Ape Yacht Club, and Otherside. If the proposal passes, ApeCoin holders will lose all governance rights. This move is part of Yuga Labs' strategic restructuring, following the company's recent sale of NFT project IPs such as Moonbirds and CryptoPunks to refocus on its core business.
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