Bored Ape creator Yuga Labs hopes to dissolve ApeCoin DAO

Golden Finance reports that the creators of Bored Ape Yacht Club, after years of distancing themselves from the Ethereum token created by their ecosystem, now hope to regain control of ApeCoin. In the new ideas for ApeCoin improvement proposal, Greg Solano, CEO and co-founder of Yuga Labs, also known as Garga, outlined a plan to potentially dissolve ApeCoin DAO, which would strip ApeCoin holders of all governance rights in the process. This idea, which started gaining attention on social media earlier this week, will transfer all assets and responsibilities of DAO to a new entity created by Yuga Labs called ApeCo. ApeCoin DAO was a bold experiment, but it was born in a different era. What was once hopeful has evolved into a slow, noisy, and often non serious governance farce, "Solano wrote in his ApeCoin forum post. Too many resources are being wasted on hollow proposals and low impact initiatives. Now, all of this will come to an end