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Who Are the Founders of ApeCoin?

Bored Ape Yacht Club creator, Yuga Labs launched ApeCoin in the mid-2022 but it does not oversee the activities of the cryptocurrency. The Ape Foundation is solely responsible for facilitating a decentralized and community-centric governance in the ecosystem. It also takes care of ApeCoin activities such as day-to-day administration, bookkeeping, project management, and implementing the decisions finalized by the ApeCoin DAO. 

The primary goal of the Ape Foundation is to create a completely decentralized and inclusive ecosystem that supports the growth and development of ApeCoin. The ApeCoin DAO encourages community participation and ensures that the vision of the community is brought to reality. To make this happen and to administer the DAO proposals, a special board of directors exists. The initial board members included the following members. 

• Reddit Co-founder – Alexis Ohanian
• Head of Ventures and Gaming at FTX – Amy Wu
• Co-founder and Chairman of Animoca Brands – Yat Siu
• Principal at Sound Ventures – Maaria Bajwa
• President & General Counsel at horizon Labs – Dean Steinbeck

These initial board members will serve for 6 months and the next group of people will be elected annually by the DAO community members through a voting system. The recent voting system concluded in June 2023 and new members Waabam, an ApeCoin DAO community member and CaptainTrippy, Bored Ape holder joined the already existing board members – Bored Ape G, Gerry, and Vera Li. 

ApeCoin DAO

All ApeCoin holders will be a part of the ApeCoin DAO and share the rights to vote on proposals that can change the shape of the ecosystem. They can vote on proposals regarding Ecosystem Fund allocations, governance rules, partnerships, projects, and other relevant developments. The ApeCoin DAO also makes decisions based on how it can utilize the Ecosystem Fund for the growth and development of the project.