Yuga Labs submitted a proposal to dissolve the ApeCoin DAO and transfer all assets and duties to a new entity, ApeCo.
The plan would end tokenholder governance, nullify past AIPs, and authorize asset transfers under ApeCo’s management.
ApeCo will focus on ApeChain, Bored Ape Yacht Club, and Otherside, using milestone-based grants for developer accountability.
A new governance proposal submitted by Greg Solano, CEO of Yuga Labs, outlines the closure of the ApeCoin DAO. The plan introduces ApeCo, a new entity designed to take over all responsibilities and assets currently held by the DAO. The proposal aims to establish a more efficient structure that prioritizes product development and strategic capital deployment within the ApeCoin ecosystem.
The transition would mark the end of tokenholder governance powers, terminating existing DAO operations, forums, and working groups. This change, according to the proposal, responds to what Solano described as governance inefficiencies and misalignment with the project's long-term objectives.
Proposal Seeks Full Transfer of DAO Assets
Under the submitted framework, ApeCo would receive all ApeCoin DAO assets, including digital currencies, intellectual property, smart contracts, domains, and infrastructure. In addition, the ApeCoin staking contract would be fully funded with approximately 11.25 million APE tokens, in line with previously approved commitments.
ApeCo would also retain 10 million APE to cover legal obligations, administrative costs, and operational transition needs. This includes adherence to executed AIP contracts, which will remain in effect even after the DAO’s dissolution. If approved, this proposal would dissolve the existing ApeCoin DAO governance model. All prior AIPs, except those with active contractual obligations, would be nullified.
Delegated authorities, election processes, and governance rights of tokenholders would be formally terminated. The plan grants execution authority to the Executive Director of the Ape Foundation. This role would oversee the technical, administrative, and legal aspects of transferring responsibilities and assets to ApeCo.
Focus Shifts to Core Ecosystem Pillars
The proposal outlines a focus on three key areas moving forward: ApeChain, the Bored Ape Yacht Club, and the Otherside metaverse project. The new structure aims to allocate resources to these initiatives through milestone-based grants and higher accountability measures for developers.
According to the filing, the intent is to remove governance bottlenecks and accelerate development across the Ape ecosystem. The new system would eliminate what the authors described as wasteful spending and low-impact initiatives under the DAO.
Steps include funding the staking contract, disabling all DAO infrastructure, and transferring assets to ApeCo. No additional costs are expected beyond the designated allocations. All required resources will come from the existing treasury. The vote on the proposal remains open, with over 140 participants casting votes within the first few hours of publication. If approved, ApeCoin governance would enter a new phase under ApeCo’s direction.
