ApeCoin DAO Shifts Towards Centralized leadership with ApeCo
The ApeCoin DAO is on the verge of a important conversion. Community members are considering a shift from decentralized governance to a more centralized structure named ApeCo. This move, proposed by Yuga Labs’ Greg Solano, aims to streamline decision-making and boost project efficiency.
Greg Solano, known as Garga, suggests ending the current tokenholder governance. Instead, he proposes transferring control to apeco, a Cayman Islands-based entity. The reason? The existing system has become slow and inefficient,often bogged down by trivial proposals and low-impact initiatives. Solano argues that the current setup has lost its effectiveness. He believes apeco will bring clarity and speed to the project.
AIP-596, the proposal behind this change, seeks to dissolve the DAO. The new model will focus on three main areas: ApeChain, Bored Ape Yacht Club, and Otherside. The goal is to enhance the APE ecosystem. ApeCo will prioritize quality and alignment with core goals. It aims to cut through the red tape of the DAO, which he claims has become a “noisy and sluggish” platform. The new structure will concentrate on key projects,ensuring resources are used wisely. This change could revitalize the APE ecosystem. It will address the DAO’s inefficiencies, making way for faster progress.
Animoca Brands, a key player, supports the shift. Co-founder Yat Siu sees it as a natural evolution. He says it aligns with web3 principles if voted in by tokenholders. The plan is to replace broad voting with a governance-lite model.This change should speed up product development and funding. It also promises to maintain existing commitments, like staking contracts.
