Yuga Labs proposes to dissolve ApeCoin DAO, with new entity ApeCo taking over the ecosystem According to Decrypt, Greg Solano, CEO of Yuga Labs, creator of Bored Ape Yacht Club, has proposed the abolition of ApeCoin DAO and plans to transfer its assets and responsibilities to Yuga's newly established entity ApeCo, terminating the governance rights of all APE holders. Solano criticized DAO for its low efficiency and resource waste, stating that it should be stopped. If the proposal is passed, DAO will be completely dissolved, all unexecuted proposals will be invalidated, and ApeCo will lead the development of ApeChain, BAYC, and Otherside projects. Voting may start next Thursday (June 13th Beijing time).