Yuga Labs CEO Greg Solano submitted a monkey improvement proposal entitled “Sunset to DAO and Launch of Apeco” at a pitch to run the two-year-old decentralized autonomous organization and pass on its assets to a new device to “the supercharge ape ecosystem.”
Solano called Dao “sluggish, noisy and often inkerable government theater”, which finances “vanity proposals and low -influence initiatives.”
A slimmer vehicle controlled by Yuga Labs, he argued, can “eliminate Gridlock” and push only capital to “high -caliber projects” across three pillars: Apecin, Bored Ape Yacht Club and Otherside, Yugas Metaverse bet.
According to the plan, Apeco would first fill up the stack contract with 11.25 million Ape ($ 8.3 million), reserve 10 million monkeys to legal and transitional costs and then swallow everything else in the basic box – from tokens and domains to smart contracts. All active government forces, working groups and future AIPs would be removed if the proposal is adopted.
At this point, the post is only a temperature control as a formal vote on the chain must follow before the settlement begins.
If it was passed, Apeco would begin by funding efforts, shutting DAO infrastructure and redirecting every last monkey in his new war chests marking an end to one of Crypto’s most high profiled NFT-focused management structures.
