A NEW DAY AT THE DAO: The ApeCoin Community Approves Historic Governance Revamp AIP with 93% Support!

It’s a new dawn at the ApeCoin DAO after the community voted for a massive governance overhaul proposal that will change everything—from ApeCoin’s government structure to where the treasury is stored, and even the Ape Improvement process!

On Wednesday, the ApeCoin DAO passed AIP-582, titled “ApeChain, On-Chain ApeCoin DAO Governance Revamp,” with 93% approval.

With this proposal’s passing, 75% of the DAO’s treasury will soon be allocated to ApeChain, and a new on-chain AIP voting process will be implemented.

The ApeCoin DAO will also establish a new Security Council comprised of 11 members, including Matthew Katz from Caldera, Bill Lingafelter from LayerZero, Quit from Yuga Labs, Feld from Boring Security, Roman from Ape Express, former Special Council Member Gerry, Ape Foundation Rep BoredApeG, Banan Bill’s Captain Trippy, Ape Foundation’s Hazel, Chinese Ape Club’s David, and Chinese Ape Club’s Johnny.

The DAO will also create a new data availability committee made up of representatives from Yuga Labs, Offchain Labs, Animoca, Caldera, Magic Eden, LayerZero Labs, and Horizen Labs, as well as an Executive Director position and an Audit Committee made up of whales holding 10 million or more $Ape.

After last night’s vote, Special Council Member and ApeChain Project Director Waabam took to the timeline to congratulate everyone on this historic vote and express his bullishness on $Ape and Apes!

“The ApeCoin DAO Governance revamp passed last night, a historic achievement for ApeCoin and ApeChain With 33million $APE voting in favor, it’s the largest voter turnout in favor in the history of the DAO,” he wrote.. “ It’s also the first time that @yugalabs has voted in the DAO’s history But most importantly, the proposal will drastically change ApeCoin, by moving governance on-chain, hiring an Executive Director to lead the APE Foundation, and handing over ownership of ApeChain to the ApeCoin DAO Huge moves to upgrade ApeCoin and ApeChain governance to the best practices of new chains and ecosystems today Bullish on ApeChain. Bullish on apes.”

Waabam wasn’t the only Special Council member to comment on the proposal’s passing. Special Council Member Mo also took a moment to celebrate the bill  and explains what’s next.

“Now, the real work begins: implementing AIP-582, he tweeted. “We’ll be rolling out on-chain contracts in phases and continually refining our processes to keep participation both intuitive and accessible for all DAO members. •Security Measures: We’ll uphold robust safeguards (like multi-sig protocols) wherever necessary. •Community Feedback: Your insights will be crucial as we fine-tune the on-chain voting mechanisms and governance parameters. •Growing the Ecosystem: This framework paves the way for deeper integrations within the ApeCoin ecosystem—and notably, Yuga Labs cast its first-ever vote on this proposal, highlighting how inclusive and wide-reaching our governance model has become…. Onwards and upwards from here. Together, we’re building a more inclusive, resilient future for ApeCoin governance! Apes together stronger.”

The Bored Ape Gazette will continue to follow the implementation of AIP-582 and will keep you updated on when and how it begins to roll out across the ApeChain ecosystem. Stay tuned for updates!