On October 17, ApeCoin DAO decided to shut down four working groups due to financial burden and lack of effectiveness.

Ineffectiveness and Budget Strain

According to the announcement, the ineffectiveness of the four working groups and the growing budget strain led to their closure, supported by 98.02% of votes on the Snapshot platform. The costs for groups focused on governance, marketing, metaverse development, and Web3 growth reached nearly $3 million annually, failing to deliver expected results. The decision was driven by the aim to cut costs and improve operational efficiency amid rapidly depleting funds.

Shift to Outsourcing

Closing these groups will eliminate the need for elections and budget discussions for these roles. Their duties will be outsourced to more experienced third-party teams through a Request for Proposal (RFP) process. ApeCoin DAO will ensure teams adhere to transparency and accountability, with flexibility to make changes based on performance.

Future Steps for ApeCoin DAO

The ApeCoin Foundation will now focus on well-defined tasks and will partner with external parties as needed. New teams will be expected to meet established Key Performance Indicators (KPIs) and Objectives and Key Results (OKRs) to ensure progress and accountability.

ApeCoin DAO's decision to close working groups is driven by the need to optimize spending and improve efficiency. Collaborating with external teams will help tackle current challenges.