<ul><li>Yuga Labs proposes dismantling the ApeCoin DAO and replacing it with ApeCo to eliminate governance inefficiencies and focus on core pillars like ApeChain and the Bored Ape Yacht Club.</li><li>The DAO, described as a 'bold experiment,' is criticized for sluggish governance and misallocation of resources towards vanity projects. The proposal aims to transition all assets and responsibilities to ApeCo, removing tokenholders' governance rights.</li><li>The plan includes full funding of the ApeCoin staking contract and reserves 10 million APE for legal obligations and administrative expenses. ApeCo is positioned as a more agile and accountable organization to enhance product development and cultural relevance.</li><li>No new funds are requested for the transition, and the existing treasury will be utilized. The Executive Director of the Ape Foundation will oversee the transition process, aiming to optimize tax efficiency and shift focus from experimentation to execution.</li></ul>

Yuga Labs Proposes Dismantling ApeCoin DAO, Replacing It with ApeCo

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