ApeCoin Shakeup: Secretary Steps Down Citing Inactive Stewards

The Apecoin project continues to find itself embroiled in controversy.

ApeCoin DAO’s secretary, BojangleGuy, announced his resignation from the organization on Sept. 24, citing structural inefficiencies, a need for structural reform, inactive board stewards, a lack of communication, and a lack of accountability.

BojangleGuy said the DAO is spending $130,000 per month on salaries for stewards, facilitators, and secretaries — a figure he found “unsustainable and inefficient.” He also asserted that the organization “needs a structure, just not this one.”

The former secretary said stewards are receiving a $9,000 monthly salary while barely contributing to the DAO in any capacity. With the exception of a few people, he wrote that the steward role in its current form “is a popularity campaign that has zero accountability once elected.”

BojangleGuy also criticized the internal communication and coordination between the project’s various working groups. He claimed all working group calls are poorly attended, and the organization has created a structure where separate entities “all do their own thing.”

ApeCoin did not immediately reply to a request for comment from The Defiant.

APE has been having a good month, up 20% in the past thirty days, now trading for $0.83. Bored Ape Yacht Club, the NFT collection at the center of the ApeCoin DAO, jumped 20% since early August and now trades for 11 ETH.

BojangleGuy’s post turned heads in the community.

“Incredibly thoughtful move and post by BojangleGuy,” said BoredApeG, an ApeCoin special council board member. “It is finally time for the ApeCoin DAO to evolve its Working Groups,” they wrote on Twitter.

BoredApeG added that “the DAO can focus on funding individuals to take charge of initiatives they are passionate about executing.”

“Sad day for the DAO, farewell BojangleGuy!” wrote dim.eth, an ApeCoin steward dubbed. Dim.eth described BojangleGuy’s post as “a must read” exposing why the project’s current structure and process “is not working as it should.”

“Working groups need to be closed. All of them. ASAP. No more dumb shit,” dim.eth added.