As part of its ApeCoin announcement and DAO structure, the Bored Ape Yacht Club introduced the community to the Ape Foundation and a special council of the Ape Foundation dubbed the DAO’s Board.
“The APE Foundation is the steward of ApeCoin, the BAYC wrote. “It is not an overseer, but the base layer on which ApeCoin holders in the ApeCoin DAO can build. The Foundation facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with administering the decisions of the ApeCoin DAO, and is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community’s ideas have the support they need to become a reality.”
The BAYC’s ApeCoin site goes onto explain that along with the Ape Foundation and DAO, there is also a special council of the Ape Foundation known as the Board. The Board, “provides, at the behest of the ApeCoin DAO members, oversight of the Foundation administrators. The purpose of the Board is to administer DAO proposals and serve the vision of the community. It meets on proposals requiring administrative review under ApeCoin DAO rules. The initial Board serves a term of six months, after which DAO members will vote annually on Board members.”
The First Board is made up of five members from various areas of tech, crypto, and gaming.
Take a closer look at each of the five Board members below:
Name: Alexis Ohanian
Experience:Co-founder of Reddit; General Partner & Founder of Seven Seven Six
Twitter: @alexisohanian
"Despite how bored my ape looks I'm excited to share that ApeCoin DAO is adopting ApeCoin, and that I'm serving on the special council that will oversee the decisions of the community," Ohanian tweeted after the announcement.
Name: Amy Wu
Experience:Head of Ventures & Gaming at FTX
Twitter: @amytongwu
Name: Maaria Bajwa
Experience:Principal at Sound Ventures
Twitter: @maariabajwa
"I’m humbled to be a part of this board, Bajwa tweeted. "I’m still not quite sure if this is real or if its a REALLY elaborate April Fool’s joke. So far, all my suggestions have centered around making limbo the main event of ape fest. yw. No seriously. I love the limbo. I love the apes. LFGG!!"
Name: Yat Siu
Experience:Co-founder & Chairman of Animoca Brands
Twitter: @ysiu
"I'm both honored and excited to share that ApeCoin DAO is adopting
@ApeCoin, and that I'm serving on the special council that will oversee the decisions of the community together with other amazing council members," Siu tweeted.
Name: Dean Steinbeck
Experience:President & General Counsel at Horizen Labs
Twitter: @Crypto_Counsel
"I’m excited to share that ApeCoin DAO is adopting ApeCoin, and that I’m serving on the special council that will oversee the decisions of the community," Steinbeck tweeted.