In Brief:
- ApeDAO organized a poll on whether DAO assets should liquidate or not.
- Liquidating all DAO assets will pay back by 2x to investors in ETH.
- ApeDAO’s treasury is now worth about $32.9 million, or 13,000 ETH.
ApeDAO has organized a poll for community members to decide “what to do with the DAO’s accumulated assets as an alternative”. Ape DAO is voting to liquidate all its assets.
The ApeDAO was founded by the pseudonymous NFT collector KyloRen. It is the third-largest holder of Bored Ape Yacht Club NFTs.
According to the weblog, to fill the current difference between $APED and net asset value of DAO holdings, liquidity the DAO would generate adequate returns for token holders.
If the vote passes, 81 Bored Apes, 81 Mutant Apes, CryptoPunks, Fidenza, and Cool Cats can go on sale. According to the data from Zapper, ApeDAO’s treasury is worth about $32.9 million, or 13,000 ETH.
The liquidation can generate 6-8 ETH per 1,000 $APED tokens. This value is equivalent to almost double returns for investors.
However, the strategy for liquidating the DAO is still not revealed as it will be decided after the current poll. The poll will decide whether the community wants to liquidate DAO and return ETH proceeds to token holders pro-rata.
The poll was organized for 5 days from 30th Jan to 3rd Feb. At the time of writing, 64% of members have voted for ‘Liquidate Ape DAO’.
Snapshot used for this voting process is a decentralized voting system. It provides flexibility on how voting power is calculated for a vote. Many DAOs use Snapshot for taking decisions based on the voting. Recently, Wonderland DAO voted out its treasury manager Sifu for his involvement in the crypto scam of QuadrigaCX.
