PANews June 6 report, according to Decrypt, Greg Solano, CEO of Yuga Labs, the creator of Bored Ape Yacht Club, proposed to abolish the ApeCoin DAO, planning to transfer its assets and responsibilities to the newly established entity ApeCo, terminating the governance rights of all APE holders. Solano criticized the inefficiency of the DAO and the waste of resources, stating that 'it should be stopped.' If the proposal is approved, the DAO will be completely dissolved, all unexecuted proposals will be invalidated, and ApeCo will lead the development of the ApeChain, BAYC, and Otherside projects. Voting is expected to start next Thursday (June 13, Beijing time).
