Yuga Labs is proposing a major overhaul of the ApeCoin ecosystem by shutting down the ApeCoin decentralized autonomous organization (DAO) and introducing a new management entity called ApeCo. In a new Ape Improvement Proposal (AIP), Yuga Labs CEO Greg Solano expressed that the DAO, once pivotal in the project's growth, has now become ineffective, hindering progress. The proposal aims for a more focused, efficient, and professional approach to managing ApeCoin. It suggests terminating the current DAO governance system, transferring assets to ApeCo, and implementing stricter criteria for funding initiatives. While the proposal has received mostly positive feedback for its shift towards a more streamlined structure, some community members have expressed concerns and objections. Despite differing opinions, the proposal signifies a significant change in the ApeCoin ecosystem, aiming to drive growth and innovation. Read more AI-generated news on: https://app.chaingpt.org/news

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