Voting on Proposal AIP-596 to Dissolve ApeCoin DAO Concludes with 99.66% Approval Rate

According to Jinse Finance, Snapshot data shows that voting on proposal AIP-596, which calls for dissolving ApeCoin DAO and launching a new entity called ApeCo, has concluded. The proposal received an approval rate of 99.66%, with approximately 0.32% voting against and 0.01% abstaining. Garga.eth, co-founder of Yuga Labs, previously noted that this AIP would require a significant number of votes to pass, specifically participation from 3.5% of all circulating tokens and a two-thirds absolute majority in favor. The proposal aims to further reform the ApeCoin ecosystem and facilitate the orderly transfer of assets and responsibilities to ApeCo, a new entity established by Yuga Labs. The new team will reportedly include Cameron Kates, the current Executive Director of the Ape Foundation, as well as other foundation members and members of the Banana Bill team.