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  • Writer's pictureKyle

The ApeCoin DAO Special Council Is Working To Fill The Supervisor& Director Roles. Find Out More:

After the ApeCoin community rejected the Cartan Group’s proposal to extend its administrative contract with the DAO in December 2022, the Special was tasked with filling three key DAO roles that were previously held by the Cartan Group.

At the beginning of the January 2023, the Special Council began its search for a new Director, Supervisor, and Administrator.

While $Ape holders are familiar with the administrative position at the DAO, many DAO contributors just learned that the ApeCoin DAO had a Director and Supervisor this month. To find out more about these two roles, the Bored Ape Gazette reached out to Special Council member BoredApeG for clarification on these positions.

“This is speaking generally of Cayman Islands Director and Supervisor roles, and by-laws and memorandum of association” BoredApeG said. “Director: The director(s) of a Foundation or Company have ultimate responsibility for the conduct of that company’s affairs on a day-to-day basis. For example, the Director helps to ensure grant agreements are executed and that the Foundation or Company is keeping in compliance with Cayman Islands law. Supervisor: Since there are no shareholders within the structure of a Foundation, the Supervisor acts in an oversight role/check on the Director. For example, if the Director is acting inappropriately/ illegally, the Supervisor can step in to remove the Director.”

As of last week, the Special Council had finished its Initial interviews for a new Director and Supervisor, according to BoredApeG. Further, the Council is set to onboard new providers to these roles by the end of the month.

Currently, the bored Ape Gazette does not know any names or information about the possible Cartan Group replacements at this time.

The Bored Ape Gazette will continue to follow the ApeCoin DAO and will lert you know who the new Supervisor and Director are once the Council makes an announcement. Stay tuned for updates!

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