• The ApeCoin DAO is in the process of rejecting the AIP-206 proposal.
• Most of Yuga Labs’ collections registered a decrease in volume. 

Home to multiple blue-chip NFT collections, Yuga Labs created ApeCoin [APE] to act as the governance token of its projects. Since then, several proposals have had to pass through a voting process before approval or rebuff.

Realistic or not, here’s APE’s market cap in ETH’s terms

Can’t curb the stumbling block

Now, it seemed that the AIP-206 proposal aimed at creating multi-link APE NFTs has been met with a brick wall. This was because voting for the proposal showed that the ApeCoin community did not endorse the idea.

At press time,  83.99% voted against it while only 9.99% were in favor. Others preferred to abstain.

On 13 January, Aaron Leupp presented the proposal to the community. According to the details, 20,000 items from two collections named the Ape Coin Armoury Club and Ape Coin Pet Club were supposed to be created. 

Furthermore, the development of the collection was supposed to be ApeCoin’s ticket into the metaverse while holding more utility and providing growth incentives.

However, it is no news that ApeCoin houses Bored Ape Yacht Club [BAYC]<

Go to Source to See Full Article
Author: Victor Olanrewaju

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