In a statement released recently on Twitter, Apecoin announced tweaks to their DAO model. They further cited continuity and stability as reasons why new proposals are introduced. Compared to previous weeks, the valuation of APE has since then soared.
Generally, a DAO is ultimately run exclusively by its community members, who jointly decide on crucial project issues, including technological advancements and treasury distributions.
APE’s new governance proposal does not necessarily change the modus operandi of the DAO model. The community members are still at the helm of operations. However, the developers are keen to change how the platform’s DAO operates.
They made a crucial suggestion regarding the election process. The APE team suggested that the election procedure be changed to a rolling election in which a council member’s seat is up for election every three months or at any other predetermined interval.
Cryptocurrency platforms use new features or developments as tactics to attract interest. The APE team has successfully done that in this case by listening to the ideas of their community. Through the new proposals, the developers displayed their trust in their community.
Furthermore, on September 9, in addition to governance proposals, AIP-89, a feature that seeks to improve the delegation of ApeCoin, was brought up for a vote.
Many APE owners lack time to participate in governance and would like to delegate their votes to colleagues. The current Snapshot delegation model requires users to be aware of the delegate’s wallet address, and there is no easy method to predict how the delegates will govern.
After asking members a few simple questions about their preferred methods of governance, delegates will be able to select and browse through their responses to choose one that matches their interests.
Delegation enhances the number of votes cast and the amount of community input while also holding governance participants responsible.
By establishing these proposals, they welcome new members, guarantee that the DAO operates consistently, effectively transfers expertise, and introduce new suggestions from the community.
Overall, the goal at the end of the day is to promote a steady rise in valuation. Traders are keen to see how the new features work. Therefore, interest in and adoption of APE increased.