Tension sparked over ApeCoin DAO’s special council six-figure salaries.
ApeCoin (APE) holders on Twitter are debating the six-figure annual salaries given to members of the decentralized autonomous organization’s (DAO’s) leadership and community council. ApeCoin is the Ethereum-based native currency of the Bored Ape Yacht Club ecosystem, which launched in March 2022. The ApeCoin DAO, which is made up of ApeCoin holders, governs the coin but is not entirely decentralized. The Ape Foundation facilitates the governance process of the ApeCoin DAO and is overseen by a Special Council that administers DAO proposals and serves the vision of the community. Twitter users began to question the DAO’s leadership compensation after Vulkan, who serves as the ApeCoin secretary, posted an organizational chart of the ApeCoin DAO leadership system. Users specifically questioned the six-figure annual payments awarded to Special Council members. Representatives for ApeCoin did not immediately respond to blockchain for comment.