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  • Writer's pictureKyle

The Ape Foundation Announced That Its Term Is Almost Up And That They Want A 3 Month Extension

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 ends 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.”

After the ApeCoin DAO tweeted the Foundation’s message, many members of the BAYC voiced their frustrations with the way the Foundation handled this election process.

“Well, I for one wasn’t aware we were supposed to come up with a specific AIP for a new vote,” BAYC member GeeGazza tweeted. “Shows the huge gap in information transfer from council to members. Communication is crap. A bit of a joke the first mention of it is just to extend current council. Like wtf.”

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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