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

The below contents are duplicated from the ApeCoin DAO Snapshot:

https://snapshot.box/#/s:apecoin.eth/proposal/0xba325d875890e66e8410616675916c7ab641e1ff096e9fd8664b5423960a974c

Members will vote with BOTB NFTs on our Bullsontheblock Snapshot. Delegated voting will then be done on the ApeCoin DAO Snapshot with the botbdao.eth wallet.

Read, research, discuss - See what you think, fellow BOTBs! Make your voices heard.

----- ApeCoin DAO Snapshot Contents -----

PROPOSAL DESCRIPTION This proposal recommends a bold and necessary evolution of the ApeCoin ecosystem: the wind-down of the ApeCoin DAO. While the DAO was instrumental in bootstrapping ApeCoin’s early momentum, it has become misaligned with the future we must build. The next chapter demands sharper focus, faster execution, and an operating model that backs only the highest-caliber projects.

This AIP authorizes the orderly transition of assets and responsibilities to ApeCo, a new entity established by Yuga Labs. ApeCo’s 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. The ApeCo team will be composed of Cameron Kates, the current Executive Director of the Ape Foundation, as well as other Ape Foundation and Banana Bill team members.

Motivation 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. Too many resources have gone to vanity proposals and low-impact initiatives.

That stops now.

The redeeming aspect of the DAO was that it funded builders. We still believe in that mission, but the bar on what is worth funding is going way up. The new model must focus on quality, impact, and alignment with the core of what ApeCoin is meant to power.

We believe this transition will:

• Unleash faster product development and capital deployment
• Eliminate governance gridlock that holds real builders back
• Reignite belief in the long-term utility and cultural significance of ApeCoin
• Make ApeChain the most culturally relevant chain in crypto

Rationale The ApeCoin DAO:

• Enabled experimentation but at the cost of quality
• Encouraged governance participation, but became easy to game
• Funded some good builders, but many bad ones
• Was never optimized for long-term product development or market agility

This proposal clears the cruft and installs a professional operation to direct capital with conviction and strategic intent.

Specifications Final Allocations & Asset Transfers

• Staking Commitment: Fully fund the ApeCoin staking contract (~11.25 million APE), as previously approved.
• Obligations & Transition Costs: Retain 10 million APE for legal and contractual obligations (including Executed AIP Contracts), plus administrative, operational, and transition expenses.
• Transfer Remaining Assets: Transfer all remaining assets of the Ape Foundation and/or ApeCoin DAO (including APE, fiat/digital currency, IP, smart contracts, domains, and technical infrastructure) to ApeCo.

Governance Termination

• Terminate the DAO governance system, including all rights and powers of tokenholders related to governance and assets.
• Dissolve the ApeCoin DAO, including:
  • Nullification of all prior AIPs (except for ongoing adherence to Executed AIP Contracts)
  • Termination of delegated authorities, working groups, elections, and forum and
  • Waiver of the ability to amend or revoke this AIP

Override of Conflicting Frameworks

• Supersede and nullify all prior AIPs, governance docs, or contracts that conflict with this AIP

Execution Authority

• Authorize the Executive Director of the Ape Foundation to take all legal, administrative, and technical steps required to carry out this AIP, including ensuring the transfers to ApeCo are done in a way that is consistent with the Motivations above (such as considering tax efficiencies).

BENEFIT TO THE APECOIN ECOSYSTEM

• Decisive Clarity: Ends the ambiguity of DAO governance and eliminates waste
• Strategic Focus: Directs resources to core ecosystem pillars: ApeChain, BAYC, Otherside
• Builder-Friendly: Offers funding to real builders via milestone-based grants and tighter accountability
• Trust-Driven: Creates a governance-lite structure that stakeholders can believe in again

STEPS TO IMPLEMENT

1. Fund the staking contract
2. Shut down DAO infrastructure
3. Transfer assets to ApeCo, as specified

REPORTING EXPECTATIONS N/A

OVERALL COST Total amount requested from the ApeCoin Ecosystem Fund = No new cost beyond allocations described above. Existing treasury assets will be used.

Conclusion The DAO served its purpose, but the game has changed. We’re no longer in the experimental phase. 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.

PROPOSAL Link to the full proposal: (https://forum.apecoin.com/t/aip-596-sunsetting-the-dao-and-launching-apeco-a-new-operating-model-for-apecoin/28242)

The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.