COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: ApeCoin DAO Closes Four Working Groups to Enhance Financial Efficiency
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Altcoin News > ApeCoin DAO Closes Four Working Groups to Enhance Financial Efficiency
Altcoin News

ApeCoin DAO Closes Four Working Groups to Enhance Financial Efficiency

In Brief

  • ApeCoin DAO closes four working groups to cut costs and improve efficiency.

  • New teams will be outsourced to enhance operational performance moving forward.

  • The restructuring aims for better fund utilization and accountability.

Fatih Uçar
Fatih Uçar 7 months ago
Share
SHARE

ApeCoin DAO made a significant decision on October 17 by voting to close four working groups, achieving a remarkable 98.02% approval rate on the Snapshot platform. This decision encompasses groups focused on management, marketing, metaverse, and Web3 development. The rationale for this move highlights the financial burden these groups imposed, nearing $3 million annually, without delivering the expected productivity. The closure aims to reduce costs and improve operational efficiency in light of the DAO’s rapidly declining funds.

Contents
Working Groups’ Capacity and Ineffectiveness Come Under ScrutinyOperational Efficiency Boosted Through Outsourcing

Working Groups’ Capacity and Ineffectiveness Come Under Scrutiny

The announcement emphasized that these four working groups failed to meet their intended objectives, rendering their budget allocations unnecessary. The DAO’s first-quarter financial report corroborates criticisms regarding the efficiency of these groups, revealing that the ApeCoin Foundation’s dwindling budget clearly indicates that such expenditures are unsustainable.

In light of this situation, it was announced that the required functions will now be outsourced. The DAO plans to collaborate with more experienced third parties to ensure tasks progress more swiftly and effectively.

Operational Efficiency Boosted Through Outsourcing

New teams will be hired through a Request for Proposal (RFP) process to fulfill the roles of the closed working groups. Teams will be sought that comply with the transparency and accountability standards set by the DAO, while maintaining the flexibility to make changes based on their performance.

With this restructuring, the ApeCoin Foundation will focus more on defined tasks. The initiative aims to utilize funds more efficiently while retaining the option to work with third parties as needed. The DAO expects these teams to adhere to specified performance indicators (KPIs) and objectives (OKRs).

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Pi Network Faces Community Challenges as Coin Value Declines

HYPE Coin Rockets Up with Surging Volume and Interest

Altcoin Season Surges with Critical Signals Aligning for a Bull Run

Market Faces Volatility as Altcoins Unlock Billions

Pi Network Faces Risk: Analysts Warn of Terra Luna-Like Collapse

Fatih Uçar 17 October, 2024 - 1:35 pm 17 October, 2024 - 1:35 pm
Share This Article
Facebook Twitter
Share
Previous Article Ethereum Implements Surge Update to Address Scalability Issues
Next Article How to Buy Alchemy Pay Coin?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Bitcoin Surges Again: Is it Time to Dive into Altcoins?
Cryptocurrency News
Woo Predicts BTC’s Unique Market Position for the Next 20 Years
Bitcoin (BTC)
Michael Poppe Predicts Altcoin Surge with New Price Target
Technical Analysis
Cryptocurrency Takes Center Stage with Exciting Price Movements
Technical Analysis
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?