TechFlow news, on June 14, Yuga Labs co-founder Garga.eth announced on X that the proposal AIP-596 to dissolve the ApeCoin DAO has officially entered the voting phase, aiming to further advance reforms of the ApeCoin ecosystem and orderly transfer assets and responsibilities to ApeCo, a new entity established by Yuga Labs. The new entity's team will consist of Cameron Kates, current Executive Director of the Ape Foundation, other foundation members, and members of the Banana Bill team.
Garga.eth reminded that this AIP requires substantial voter participation to pass, needing 3.5% of all circulating tokens to vote and an absolute majority of 66% in favor. According to voting data, the vote will conclude on June 26, with the current approval rate at 99.19%.
