The chairman of Animoca Brands and a prominent Bored Ape Yacht Club member announced that he would not run for re-election in the ApeCoin DAO governance framework.
Yat Siu, chairman of Animoca Brands, announced on social media that he will not run for a second term as a member of the ApeCoin DAO Special Committee.
The Special Committee is a group of five elected representatives who serve as stewards of the ApeCoin DAO, the decentralized governance framework that supports the Ecosystem Fund.
Currently, elections have begun for the second special committee of ApeCoin DAO. Yat Siu explained that he decided to make room for the right individuals.
His responsibilities will aid in the transition of the new committee members and infuse ApeCoin DAO with fresh blood.
“I am vacating the spot for others, which I think is appropriate. Siu stated, “My role was to assist in onboarding the new SC members to transition in some new blood but will always be there to serve in other ways.”
A Continued Support for ApeCoin and BAYC
In addition, Yat Siu said he would continue to provide services for ApeCoin and BAYC in the future. The ApeCoin DAO appointed Yat Siu as one of the five founding members of its first special committee in March 2022.
In April, Siu informed the Gazette that Animoca Brands aims to make additional Bored Ape games with Yuga Labs on The Legends of The Mara.
In an interview with Cointelegraph, Siu discussed the future of NFTs and predicted that nonfungible tokens would usher in a time when human creativity is genuinely rewarded.
A New Election Season for ApeCoin DAO
In addition, ApeCoin DAO launched the second special committee election, and applications will be accepted until May 21 at 2:00 p.m.
Candidate voting will take place June 15–21, membership voting June 22–28, and new members’ terms will begin July 1, 2023.
ApeCoin DAO aims to build and maintain a diverse and autonomous environment for Bored Apes and other NFT enthusiasts.
It also supports innovative projects like the Ecosystem Fund’s 1.8 billion euros for a community magazine.
