APECoin is currently being developed. This is a reference to the previously published governing structure of the organization. Cobie, a market specialist, expressed his concerns about the early contributors’ impact on Twitter. They have a considerable lot of power in the DAO. Following Cobie’s original Tweet, a number of other community members shared their comments.
To be clear, the problem is the currency’s governance system, which is part of the BAYC series. Furthermore, the board member structure seems to be ineffective for resolving specific concerns. Cobie questioned whether ApeCoin board members were just investors who contributed to the project’s funding. If that’s the case, Cobie considers having a board with “possibly opposed motivations to the rest of the DAO” to be “weird.”
To far, 140 million $APE coins have been distributed to launch sponsors. Cobie said that select users will have more than 33% of their allotment unlocked at the start of staking.
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