Voting on Proposal AIP-596 to Dissolve ApeCoinDAO Concludes with 99.66% Approval Rate

[ApeCoin DAO Dissolution Proposal AIP-596 Voting Concludes with 99.66% Approval Rate] According to Snapshot data, voting for proposal AIP-596, which calls for the dissolution of ApeCoin DAO and the establishment of a new entity, ApeCo, has ended. The approval rate reached an impressive 99.66%, with approximately 0.32% voting against and 0.01% abstaining. Garga.eth, co-founder of Yuga Labs, previously noted that this AIP required a significant number of votes to pass, specifically participation from 3.5% of all circulating tokens and a two-thirds absolute majority in favor. The proposal aims to further reform the ApeCoin ecosystem and facilitate the orderly transfer of assets and responsibilities to ApeCo, a new entity established by Yuga Labs. The new team will reportedly include Cameron Kates, the current Executive Director of the Ape Foundation, as well as other foundation members and members of the Banana Bill team.