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DAO

Solana DEX Jupiter Suspends DAO Voting for 2025

by admin June 20, 2025

Kash Dhanda, chief operating officer of the Solana-based Jupiter decentralized exchange (DEX), said the protocol will pause governance voting.

In a lengthy Thursday announcement, Dhanda said Jupiter “stands at the edge of an inflection point” and “the window to define the future of DeFi is open, but it won’t stay open for long.”

Dhanda highlighted the need to “be laser-focused on growth,” and said Jupiter was suspending the decentralized autonomous organization (DAO) structure, which he said “isn’t working as intended.”

Dhanda said that DAO votes will be paused until 2026, when it will return “with a fresh approach that unifies, rather than divides.” He claimed that the DAO is “stuck in a negative feedback loop,” slowing execution and creating division in the community.

Suspending DAO voting “will let us all focus on execution, speed, and growth while we rethink how the DAO could best operate.”

Source: Jupiter

Related: Crypto lobby group says SEC should back off regulating most DAOs

DAO paused to prioritize execution

Dhanda said the suspension of DAO voting will not affect active staking rewards, and all previously funded work groups will remain operational. However, no new proposals will be accepted, and the community reserve will remain untouched until voting resumes. The development team will fund community growth with its own operational treasury.

DAO voting will resume next year after Jupiter’s team defines a new process through community engagement. The objective is to find a more productive approach. Dhanda added:

“To repeat: this is not an end to governance, but rather a pause.“

Related: Research DAO claims paralyzed rats recover after spinal cord fix

Follows growing DAO governance backlash

The choice follows Yuga Labs pushing to overhaul the ApeCoin ecosystem with a proposal to shut down the ApeCoin DAO earlier this month. Rather than a pause, this proposal aimed to replace it with a new entity called ApeCo, with the firm’s CEO, Greg Solano, claiming that the DAO has become dysfunctional.

Solano, much like Dhanda, lamented that the DAO slowed development and “devolved into sluggish, noisy and often unserious governance theater.” He concluded that “too many resources have gone to vanity proposals and low-impact initiatives.”

Magazine: Are DAOs overhyped and unworkable? Lessons from the front lines

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June 20, 2025 0 comments

NFT Gaming

Yuga Labs Seeks to Replace ApeCoin DAO With New Entity, ApeCo

by admin June 6, 2025

Yuga Labs is pushing to overhaul the ApeCoin ecosystem with a proposal to shut down the ApeCoin decentralized autonomous organization (DAO) and replace it with a new management entity called ApeCo.

In a new Ape Improvement Proposal (AIP), Yuga Labs CEO Greg Solano said the DAO played a crucial role in the project’s early momentum, but has since become dysfunctional. He said the DAO hampers meaningful development.

“What started with promise has devolved into sluggish, noisy and often unserious governance theater,” Solano said. “Too many resources have gone to vanity proposals and low-impact initiatives.”

Solano said the next chapter for ApeCoin requires sharper focus, faster execution and a more professional operating model. “People want to kill the ApeCoin DAO. This AIP proposes just that. It’s time for a leaner, faster org to take the reins,” he wrote on X.

Source: Greg Solano

Yuga proposes a complete wind-down of the DAO system

The proposal outlines a termination of the DAO governance system, including eliminating all governance rights held by tokenholders, nullifying previous AIPs and dissolving working groups and elections.

The DAO’s assets, which include ApeCoin (APE) tokens, intellectual property, smart contracts and infrastructure, would be transferred to the new management entity, ApeCo.

The executive said ApeCo would set a higher bar for which initiatives would receive support, taking a more disciplined approach to funding.

The organization will be established directly by Yuga Labs and will be responsible for supporting high-caliber builders. In addition, it will be tasked with bolstering ecosystem projects like ApeChain, Bored Ape Yacht Club (BAYC) and Otherside.

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

Related: Yuga Labs sells Moonbirds IP to Orange Cap Games

Yuga Labs proposal gains community support

Responses to the proposal have been mostly supportive, with many welcoming the shift toward a more focused structure. User TheDonDiablo777 voiced enthusiasm. “I fully support this and am happy to see it in motion,” they said.

Community member Apewhale said there was fatigue and inefficiency with the DAO model. “DAO fatigue is real. ApeCo sounds like the reset we’ve been needing with clearer ops, stronger leadership, and still space for the community to win. Let’s build smarter,” Apewhale wrote.

Despite the support, not everyone is aligned with the transition. Community member Lanzer objected to the move, calling it “bad optics” for Yuga Labs and its CEO. The user criticized the proposal’s rollout and rejected the idea that the DAO had failed.

“I do not think the ApeCoin DAO should be absorbed by Yuga,” he said, expressing concerns around the sequence of events that led to the proposal.

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June 6, 2025 0 comments

Crypto Trends

‘A Different Era’: Bored Ape Creator Yuga Labs Wants to Kill the ApeCoin DAO

by admin June 5, 2025

In brief

Yuga Labs CEO Greg “Garga” Solano drew up plans for the elimination of the ApeCoin DAO.
If passed, the proposal would spin out DAO assets to a new Yuga Labs entity, ApeCo.
Solano said the move would allow the ApeCoin ecosystem to obtain clarity and focus.

The creator of the Bored Ape Yacht Club wants to take control of ApeCoin, after years of distancing itself from the Ethereum token created for its ecosystem.

In a new ApeCoin Improvement Proposal idea, Yuga Labs CEO and co-founder Greg Solano (aka Garga) outlined potential plans to disband the ApeCoin DAO, eliminating all governance rights for APE token holders in the process.

The idea, which started gaining attention on social media earlier this week, would transition all assets and responsibilities of the DAO to a new entity created by Yuga Labs, called ApeCo.

“ApeCoin DAO was a bold experiment, but one born of a different era. What started with promise has devolved into sluggish, noisy, and often unserious governance theater,” wrote Solano in his post on the ApeCoin forums. “Too many resources have gone to vanity proposals and low-impact initiatives. That stops now.”

It’s time for ApeCoin to sunset the DAO and get back to winning.

The AIP creates a new entity, ApeCo, whose mission will be to supercharge the APE ecosystem by supporting high-quality builders and reinforcing three core pillars: ApeChain, Bored Ape Yacht Club, and Otherside.

— Garga.eth (Greg Solano) (@CryptoGarga) June 5, 2025

The “bold experiment” came to life in 2022 at the peak of the Bored Ape frenzy, acting as the decentralized entity responsible for launching ApeCoin (APE) on the Ethereum blockchain—not Yuga Labs itself. The ApeCoin DAO was treated as an independent entity, despite being closely aligned with Yuga and the Bored Ape ecosystem.

But over time and as the token price has fallen substantially, the DAO has faced criticism for funding proposals that didn’t add value to the ApeCoin ecosystem or Bored Ape Yacht Club brand.

If the drafted plan is ultimately passed, then the ApeCoin DAO would be fully dissolved and all prior ApeCoin Improvement Proposals (AIPs) would be nullified, with exception given to those that have executed AIP contracts. Additionally, it would terminate all working groups, delegated authorities, elections, and the ApeCoin forum.

“The AIP creates a new entity, ApeCo, whose mission will be to supercharge the APE ecosystem by supporting high-quality builders and reinforcing three core pillars: ApeChain, Bored Ape Yacht Club, and Otherside,” Solano posted on X.

Per the proposal, ApeCo would be granted all assets held by the DAO or ApeCoin Foundation, only after the new entity funds the ApeCoin staking contract and the DAO infrastructure is disabled.

According to Solano, this would create notable benefits to the ApeCoin ecosystem, including “decisive clarity” and “strategic focus”—key themes that have been highlighted since Solano was reinstated as Yuga Labs CEO early last year and the firm began parting ways with IP it picked up since its explosive growth started in 2021.

“Since returning as CEO, everything I’ve worked on has aimed at one thing: getting back to the spirit and velocity of year one, when Gordon Goner [Wylie Aronow] and I were building Yuga from scratch,” he posted on X. “We’ve made huge progress. But the biggest unlock would be in getting ApeCoin rowing in the right direction.”

Just last week, Yuga Labs parted ways with the IP for Ethereum NFT collection Moonbirds that it acquired in February 2024. Earlier this year, it also sold the IP rights to the CryptoPunks and Meebits collections it acquired from Larva Labs in 2022.

The IP shedding, plus the spinout of its HV-MTL game to Faraway in early 2024, has the Bored Ape creator once more focused on its core collection, along with the ApeChain network and long-in-the-works Otherside metaverse game.

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

Early reception to the idea has been broadly positive, with community members and other Web3 builders speaking out in support.

Based on existing ApeCoin DAO governance rules, the idea will need to be reviewed by the ApeCoin DAO Special Council before it can be sent to a vote. Voting periods open on the first and third Thursday of every month at 9:00pm ET.

A representative for Yuga Labs did not immediately respond to Decrypt’s request for comment.

ApeCoin, the native token of the Bored Ape Yacht Club ecosystem and the governance token for the ApeCoin DAO, is down more than 7% in the last 24 hours to $0.66. The token is more than 97% off its April 2022 all-time high of $26.70

Edited by Andrew Hayward

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June 5, 2025 0 comments