The proposal to dissolve ApeCoin DAO and initiate the launch of a new entity, ApeCo, has started voting and will conclude on June 26.

According to BlockBeats, on June 14, Yuga Labs co-founder Garga.eth announced via social media that voting has officially begun for Proposal AIP-596, aimed at dissolving the ApeCoin DAO and initiating the formation of ApeCo. The proposal seeks to further advance reforms within the ApeCoin ecosystem and to orderly transfer assets and responsibilities to ApeCo, a new entity established by Yuga Labs. Voting is set to conclude on June 26.

It is reported that the ApeCo team will be led by current Ape Foundation Executive Director Cameron Kates, alongside other members from the Ape Foundation and the Banana Bill team.