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  • Writer's pictureKyle

Ape Foundation Member Yat Siu Shared His Thoughts On The Special Council 3 Month Extension

Updated: Sep 8, 2022

After the Ape foundation released a letter to the community informing them that the Special Council’s inaugural term was almost up, Council Member Yat Siu took to Twitter and commented on the proposed extension.

In a four-part Twitter thread, Siu said that the extension would give the community time to make a solid election process and acknowledged that this process should have been made sooner.

“@Apecoin DAO is proposing for an extension of AIP-1 for 3 more month and to use this time to ensure we can design, together with the community, a fair and transparent election process that can most benefit the @apecoin fam in a responsible manner,” Siu wrote. “We encourage the community to submit thoughts, ideas so we can all co-create a thoughtful election process to ensure continuity, equity & transparency deserving of @apecoin. We recognize that this should have happened sooner, but this is incredibly important to get right!”

As the Bored Ape Gazette previously reported, The Ape Foundation took to Twitter today and informed the $Ape community that the Special Council’s six-month inaugural term was almost up and asked the community for a three-month extension.

“This six-month term is up at the end of September- which is coming up fast,” The Foundation wrote in a letter to the ApeCoin Community. “As of today, the community hasn’t submitted any viable AIPs specifying what this handover looks like, who might take over, or how we might conduct an election. This suggests the original election specifications were ambiguous. We have therefore decided to propose an AIP for the community to vote on.”

This proposal that the Foundation alluded to in its letter was submitted by ApeCoin DAO contributor BTang titled “Extending AIP-1- The DAO Process.”

In the AIP, BTang proposed that the community should extend the current Special Council’s term by three months.

“An extension will provide continuity and stability: the Foundation doesn’t just execute what the community wants - it enables us to ensure we are compliant with the necessary legal, regulatory, and compliance laws and guidance so we can operate effectively,” the Foundation wrote in its proposal. “Second, the extension will allow the community to better understand, contribute to, and ultimately engage with whatever election process emerges.”

The Ape Foundation ended its letter by informing the community that Board Member Maaria Bajwa and the Carten Groups Brandon Caruana will be holding an office hours this Friday, September 9th at 9:30 A.M. EST where they will “answer the communities questions and further talk through the thinking behind the AIP.”

The Bored Ape Gazette will be in attendance during this week's office hours and will bring you a full recap report after it ends. This is a developing story. Stay tuned for details.

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