COMING UP: Yuga Labs CEO Garga Joins Coffee With Captain Tomorrow To Talk About Closing The ApeCoin DAO!

Apes, set your alarm clocks for 8 A.M. EST tomorrow because an important space with Yuga Labs CEO Garga about the future of the ApeCoin DAO is brewing on Coffee With Captain!

As the $Ape ecosystem continues to debate the future of the DAO, Garga will be taking to the timeline to chat with Bored Ape Yacht Club members and Coffee With Captain hosts Steve Bark and Chris Jourdan about his Ape Improvement Proposal, which calls for the shutdown of the ApeCoin DAO and the reorganization of its assets under a new Yuga backed business called ApeCo.

 

“GARGA ON CWC TOMORROW,” Jourdan tweeted. “On the agenda:  ApeChain. Proposed sunsetting of the DAO . ApeCo & more. We get started at 8AM EST Garga joins us around 9AM EST. Pants optional”

 

As the Bored Ape Gazette previously reported, ApeCoin Foundation CEO Cameron Kates announced over the weekend that all things ApeCoin DAO have been put on pause as the community prepares to head to the polls later this week and begin casting their coins to decide whether the DAO should continue.

“Until June 11, the APE forums will remain open to discuss proposed AIP “Sunsetting the DAO and Launching ApeCo — A New Operating Model for ApeCoin’,” Kates tweeted on Saturday. “From June 12-25, the proposed AIP will be up for a vote. To pass, it must receive 69% of all votes, with no less than 3.5% of all votable tokens either in favor or abstaining.”

 

 

If passed, Garga’s sunsetting proposal would end the DAO’s governance system, meaning no more AIP votes or Special Council elections. It would also override all past AIPs, transfer all of the DAO’s assets to ApeCo (except for 10 million $Ape reserved for “legal and contractual obligations”) and ensure that the DAO’s previously passed staking protocol finishes out its final year of rewards, which are set to end in March 2026.

If the community votes against Garga’s proposal, then things will continue as outlined in AIP-582, with on chain voting rolling out soon and Special Council elections back on.

Everyone is encouraged to read the full AIP and make their voices heard on the Discourse forum page here: https://forum.apecoin.com/t/sunsetting-the-dao-and-launching-apeco-a-new-operating-model-for-apecoin/28242

 

Be sure to set a reminder for tomorrow morning’s Coffee With Captain episode featuring Garga below:

 

The Bored Ape Gazette will be in attendance tomorrow morning and will let you know what Garga says about all things $Ape. Stay tuned for updates!