The ApeCoin community is discussing the shift to a new centralized governance structure ApeCo, proposed by Greg 'Garga' Solano of Yuga Labs. This has generated mixed feelings among DAO members.
Plan to Replace ApeCoin DAO with ApeCo
Proposal AIP-596 is aimed at addressing governance issues within ApeCoin DAO, which Solano believes has 'devolved into sluggish, noisy, and often unserious governance theater.' The new structure ApeCo aims to enhance the stability of the APE ecosystem by focusing on three key aspects: ApeChain, Bored Ape Yacht Club, and Otherside.
Community Opinions and Criticism
While many DAO members reacted positively, concerns about the future of the DAO and critical remarks arose. For instance, members like Frostyz voiced worries about the status of approved proposals and funds for ongoing projects. Some critics pointed out the questionable speed of changes.
Future of ApeCoin and Support from Animoca Brands
Yat Siu, co-founder of Animoca Brands, supported the shift to a new model, noting that it can align with web3 principles if chosen democratically. The vote on Garga's proposal shows a significant leaning towards support, indicating the community's power in governing the ApeCoin ecosystem.
Overall, the need for a more effective governance structure has sparked both support and criticism within the ApeCoin community. A final decision on the proposal is expected soon.
