In a bold move shaking the Web3 community, Yuga Labs co-founder Greg Solano, known as Garga.eth, announced the commencement of voting on a controversial new proposal, AIP-596.
The proposal seeks to officially dissolve the ApeCoin DAO. The proposal marks a major turning point for the governance of the ApeCoin ecosystem.
The plan aims to streamline operations and transfer power from the decentralized DAO to a new centralized entity called “ApeCo.”
The goal, according to Garga, is to establish a “leaner, faster” organization that can better serve the Bored Ape Yacht Club (BAYC) and broader ApeCoin communities.
ApeCo: The Proposed Successor to the DAO
Should the proposal pass, ApeCo will take over as the governing body of the ApeCoin ecosystem.
The new entity is set to be staffed by Cameron Kates, currently the executive director of the Ape Foundation, along with several current foundation members and contributors from the Banana Bill team.
The leadership transition is being pitched as a necessary reform, intended to eliminate the inefficiencies, politicization, and stagnation that critics say have plagued the DAO since its inception.
By absorbing the ApeCoin DAO’s assets and responsibilities, ApeCo is positioned to carry forward the vision of the ecosystem in a more coordinated and results-driven fashion.
Also Read: Sui Foundation Set To Vote On Proposal Aiming to Return $162 Million Frozen User Funds
Community Sentiment Overwhelmingly Supports the Proposal
Community response to the proposal has been strikingly one-sided, with an overwhelming number of stakeholders voicing support for AIP-596.
According to current voting data, 99.19% of participating voters have expressed approval for the dissolution.
Garga emphasized that the response to the proposal has been unlike anything he’s seen before, saying, “People want to kill the ApeCoin DAO.”
He noted the need for thoughtful but decisive action, describing the restructuring as both “ruthless” and “win-win.”
Still, he acknowledged that the proposal requires significant voter turnout and approval: at least 3.5% of all circulating tokens must participate, and a 66% supermajority must vote in favor for it to pass.
Also Read: Aevo Community Approves AGP-2 Proposal to Restart Monthly On-Chain Token Buyback, $AEVO Jumps By 12%
Vote Deadline Nears as Debate Intensifies
The voting window for AIP-596 officially opened this week and will remain active until June 26.
As the deadline approaches, tension continues to build within the community.
While many holders are celebrating the potential for faster governance and more focused leadership under ApeCo, others remain skeptical about abandoning the principles of decentralized governance.
The outcome of this vote could mark a defining moment in the history of ApeCoin, signaling either a new era of consolidated control or igniting deeper debates over the future of DAO-led ecosystems in the crypto space.
Regardless of the final tally, AIP-596 is already sparking one of the most important conversations in the life of the ApeCoin project.