Yat Siu set plans for ApeCoin Improvement Proposal


  • On Monday, Yat Siu, chairman of Animoca Brands, posted on Twitter about the most recent developments in the APE DAO ecosystem.
  • He mentions in the report that the ApeCoin DAO is voting on a plan to better APE and that regardless of the outcome, the community will be significantly impacted going forward.
  • This week, the ApeCoin DAO will vote on an AIP that, if approved, will prolong the organization’s tenure and increase its future scope.

Yat Siu, chairman of Animoca Brands, took to Twitter on Monday to talk about the latest advancements in the APE DAO ecosystem. He said that given the current situation of AIP-183, Apecoin might not have an administrator by 2023, which would complicate $APE #DAO operations needlessly. As a result, he is making a suggestion that might, under #AIP-1 rules, resolve the issue to everyone’s satisfaction.

He notes in the report that the ApeCoin DAO is voting on an APE improvement proposal that, regardless of the result, will have a significant impact on the community moving ahead.

The ApeCoin DAO is voting on an AIP this week that, if passed, would extend the company’s term and broaden its scope moving forward. If the AIP is rejected, the ApeCoin DAO will be left with uncertainty about its future. The Cartan Group was chosen by the DAO at its inception to be its administrator.

To prevent a pause in DAO operations, he suggested authorizing the CartanGroup as described in AIP-183. Although the proposal is for a year, AIP-1, Guideline 6 states that a fresh proposal for DAO operations and administrators may be filed three months after the previous proposal is approved.

According to his report, The Cartan Group’s Brian Tang said that they would hire members of the community to help administer the DAO and seek to make it run more “efficiently and transparently” with the additional monthly funds.

The Cartan Group’s plan is currently losing support in the ApeCoin community, with 82.42% of voters rejecting it as of the time this article was published.

Many members of the $APE community are unsure of what would happen next if AIP-183 is rejected because it seems that the community is opposed to it.

More crucially, he emphasized that by approving the plan, they would have three months to design a proper recruitment process for a new administrator and settle on a voting system for ApeCoin DAO to choose a new administrator. This would also allow them time to ensure a smooth transition if that is what the community decides.