ChainCatcher reports that Yuga Labs co-founder Garga.eth announced on X platform that the proposal AIP-596 to dissolve ApeCoin DAO has officially started voting, aiming to further promote reforms of the ApeCoin ecosystem and orderly transfer assets and responsibilities to the new entity ApeCo established by Yuga Labs. It is understood that the new entity team will be composed of current Ape Foundation executive director Cameron Kates, other foundation members, and Banana Bill team members.
Garga.eth reminded that this AIP requires a large number of votes to pass, expected to need 3.5% participation of all circulating tokens and an absolute majority of 66% in favor. According to voting information, this vote will end on June 26, with the current approval rate at 99.19%.
