Yuga Labs Pushes to Dismantle ApeCoin DAO, Reclaim Control Over APE Ecosystem

06. Jun 2025 Posted by Bailey S. on News

In a major shift, Yuga Labs—creator of the Bored Ape Yacht Club—has proposed a bold move to dissolve the ApeCoin DAO and take centralized control of the APE ecosystem through a new entity dubbed ApeCo.

Yuga CEO Greg Solano, also known as Garga, unveiled the initiative in a draft ApeCoin Improvement Proposal (AIP), signaling an end to years of separation between the company and the Ethereum-based ApeCoin token.

“ApeCoin DAO was a bold experiment, but one born of a different era,” Solano wrote on the ApeCoin forums. “What started with promise has devolved into sluggish, noisy, and often unserious governance theater… That stops now.”

The proposed plan would see the ApeCoin DAO fully dismantled, nullifying all prior governance proposals (except those already executed), and transferring its assets and operations to ApeCo—a new Yuga-controlled body tasked with revitalizing the APE ecosystem.

What’s Changing?

If approved, the transition would:

  • Terminate all DAO governance rights for APE holders.

  • Dissolve working groups, elections, and the ApeCoin forum.

  • Transfer DAO-held assets to ApeCo.

  • Focus development efforts on ApeChain, Bored Ape Yacht Club, and the Otherside metaverse project.

Solano emphasized that ApeCo would unlock "strategic focus" and “decisive clarity” that have been lacking under the DAO structure. “The biggest unlock would be getting ApeCoin rowing in the right direction,” he posted on X.

A Return to Roots

The move is part of a broader reset under Solano’s leadership, following his return as CEO in early 2024. Yuga has recently shed several non-core intellectual properties—including Moonbirds, Meebits, and CryptoPunks—while spinning off its HV-MTL game to Faraway Studios. These actions point to a renewed focus on the brand’s original creations and infrastructure.

“We’re building the best chain in crypto and expanding the most iconic brand in NFTs,” Solano said. “ApeCoin should be the economic engine for that future.”

Community Reaction and Next Steps

Initial reactions across Web3 circles have leaned supportive. One community member declared, “Kill the DAO. You have my sword.”

The proposal will undergo review by the ApeCoin DAO’s Special Council. Under existing rules, if cleared, it will be eligible for a formal community vote. Voting sessions open on the first and third Thursdays of each month at 9:00 PM ET.

ApeCoin Price Update

Following the news, ApeCoin (APE) fell over 7% in 24 hours, currently trading at $0.66. The token is now down more than 97% from its all-time high of $26.70 in April 2022.