PANews reported on June 14 that Yuga Labs co-founder Garga.eth announced on the X platform that the proposal AIP-596 to dissolve ApeCoin DAO has officially started voting, aiming to further promote the reform of the ApeCoin ecosystem and orderly transfer assets and responsibilities to the new entity ApeCo established by Yuga Labs. It is reported that the new entity team will be composed of Cameron Kates, the current executive director of the Ape Foundation, and other foundation members and Banana Bill team members.

Garga.eth reminded that this AIP requires a large number of votes to pass. It is estimated that 3.5% of all circulating tokens will be required to participate in the vote and an absolute majority of 66% will be required to approve it. According to the voting information, the vote will end on June 26, and the current approval rate is 99.19%.