Yuga Labs CEO Greg Solano has formally proposed sunsetting the Apecoin Decentralized Autonomous Organization (DAO), calling it a relic of a “different era” that has devolved into “sluggish, noisy, and often unserious governance theater.” The plan, detailed in a new proposal, would dissolve the DAO and transfer all assets—including APE tokens, intellectual property, and technical infrastructure—to Apeco, a new entity established by Yuga Labs.

The proposal argues the Apecoin DAO, while instrumental in early development, now misallocates resources toward “vanity proposals and low-impact initiatives.” Solano stated the current governance model creates gridlock, stifling “real builders” and hindering focus on core ecosystem pillars: Apechain, the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs), and the Otherside metaverse. The new entity, Apeco, aims to prioritize “high-quality builders” and enforce stricter accountability through milestone-based grants.

Under the specifications, the transition involves fully funding the existing Apecoin staking contract with 11.25 million APE tokens and reserving 10 million APE for legal obligations and transition costs. All remaining assets held by the Ape Foundation or DAO would transfer to Apeco. The proposal explicitly terminates all token holder governance rights and powers, nullifies prior governance proposals (except active contracts), and dissolves DAO working groups and forums.

Solano contends the shift will “unleash faster product development,” eliminate governance bottlenecks, and “reignite belief” in Apecoin’s utility. Apeco’s mandate focuses on making Apechain “the most culturally relevant chain in crypto” and bolstering BAYC and Otherside. The proposal overrides all conflicting governance frameworks and authorizes the Ape Foundation’s executive director to execute the asset transfers, emphasizing tax efficiency.

Benefits cited include “decisive clarity” to end operational ambiguity, strategic resource allocation to core projects, and a “governance-lite structure” intended to rebuild stakeholder trust. Implementation requires funding the staking contract, shuttering DAO infrastructure, and transferring assets to Apeco. No new treasury spending is required beyond the outlined allocations.

Concluding the proposal, Solano declared the experimental DAO phase over, asserting, “We’re building the best chain in crypto and expanding the most iconic brand in NFTs.” Apecoin, under Apeco, is positioned as the “economic engine” for this vision. The move signals a significant centralization of governance for the Apecoin ecosystem under Yuga Labs’ stewardship.

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