AIP-596: Sunsetting the DAO and Launching ApeCo — A New Operating Model for ApeCoin

Final AIPs Accepted AIPs
32

I’m partially support this AIP as too many unknown:

ApeCo

  • What is the ApeCo?
  • For profit, venture or something else?
  • Initial members and formation method?
  • Who have the final say in ApeCo?

Sunsetting the DAO (aka ApeCoin Foundation, BANANA Bills, ApeChain, etc) and Launching ApeCo doesn’t solve the fundamental issues:

  • Trust: The AIP approval to vote solely relies on the “taste” of the Foundation, some ridiculous AIP might just get to vote in a short period without due diligence, eg: AIP-455
  • Efficiency: The AIP process can just be infinite with “Return for clarification”, “We have sent a list of follow up questions to the author.” while some of the questions had been asked or in the proposal.
  • Proposal Conflicts: DAO does not allow competition between AIPs, which violates healthy competition and survival of the fittest. Moreover, whether it can be passed should be decided by the community.
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BANANA Bills

  • Passed on Jul 2024 with 100 Million APE and already allocated 31.2 million $APE by Apr 2025. It’s efficient in terms of capital allocation, but does it somehow do it too quickly, or healthy with the current status of treasury?
  • Funded a few big names, but what the purpose and result? To add yet another ApeCoin deposit and withdraw channel? Not even a PR news/tweet posted. Are there any under table jobs in between?
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  • Funded for profit/profiting business from a near death DAO, isn’t that weird?

Yuga

  • Not to doubt Yuga is one of the most successful pioneer in NFT’s space, but if Yuga are the controller of ApeCo, I’m here to worry.
  • The ability of the Yuga team to take on another organisation again is in doubt as not a beautiful transcript in the acquisition of Cryptopunk, Meebits, Moonbirds, WENEW, Roar and building Otherside with studios, like Improbable, etc.
  • Yuga had/hired the All-Star team and a lot of chief positions, but the impact is just as little as compared to the nobody startup stage of Yuga. It might be market conditions or over-promising, but we should still face the problem directly, shouldn’t we?

:blush:

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