"REJECT HUMANITY EMBRACE MONKE": Yuga Labs CEO Garga Announces ApeCo Is Officially Open For Business!

Out with the DAO and in with ApeCo! The next chapter of ApeCoin officially began late last night after Yuga Labs CEO Garga announced that ApeCo is now open for business and its goal is to “reject humanity embrace monke.”

Two months after 3,200 unique wallets cast over 46.6 million votes to “cut the cruft,” close the ApeCoin DAO, and replace it with a new business called ApeCo, Garga confirmed that the company is up and running and revealed that one of its objectives is to “hyper-financialize ApeCoin.”

“Took a bit, but ApeCo was finally formed a little over a week ago,” Garga tweeted. “Now it's time to cook,” he tweeted. “ApeCo has a bunch of jobs. One of them is to hyper-financialize ApeCoin. ApeCoin should be on every centralized and decentralized exchange, and usable with any dApp where holders can earn yield, farm, or capture value. It needs to be integrated across EVERY relevant chain and protocol, with MUCH deeper liquidity across the board. So you can bridge it, loop it, stack it. Do whatever the fuck you want with it. @_PPMan_ and the team are working on just that.”

 

 

After Garga’s post, ApeCo’s CEO and HeadApe, Cameron Kates, rallied the timeline, telling everyone to ape in before it’s too late.

“All star team of @_PPMan_ , @OxSimpleFarmer, and @Waabam_eth steering the  @apecoin rocketship,” he said. “Hop on or get toasted by the afterburners.”

 

As the Bored Ape Gazette previously reported, ApeCo was established with the passing of AIP-596, written by Garga. With its passing the DAO’s governance system officially closed. That means no more AIP votes or Special Council elections. The proposal also overrode all previously passed AIPs, continued to fund the ApeCoin staking contracts through March 2026, and initiated the transfer of DAO held assets, minus 10 million $Ape earmarked for legal and contractual obligations, to ApeCo.

 

Looking ahead, the community can expect ApeCo to strengthen the core pillars of the Yugaverse: ApeChain, BAYC, and Otherside by launching new initiatives and funding real builders through milestone based grants with increased accountability, according to the team.

The Bored Ape Gazette will continue to follow all things ApeCo and will let you know what the organization does next for $Ape. Stay tuned for updates!