Yuga Labs CEO Greg Solano said the DAO became a slow, noisy, unserious governance theater.
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 critical role in the project’s early momentum, but it has since become dysfunctional. The executive said the DAO gets in the way of 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.”
