Yuga Labs Proposes Dissolution of ApeCoin DAO, Shifts $168M to New Entity

Yuga Labs has filed a proposal to dismantle the ApeCoin DAO, transferring its $168 million treasury and governance rights to a new corporate entity called ApeCo. The move follows mounting criticism of the DAO's inefficiency, with Yuga co-founder Greg Solano calling the current structure "sluggish, noisy and often unserious."

The transition WOULD consolidate control of 169 million APE tokens and critical IP under ApeCo's management. Solano's public statements frame the overhaul as necessary for the Bored Ape ecosystem to "get back to winning," emphasizing the need for leaner operations over decentralized governance.

This restructuring marks a pivotal moment for one of Web3's most recognizable communities. The proposal, if approved, would effectively end the DAO's two-year experiment in decentralized stewardship of the APE ecosystem.