Understanding the ApeCoin DAO Election with Secretary Vulkan

The much-awaited ApeCoin election commenced its first day of voting on Thursday, June 15, at 6 p.m. EST. The election has captured heightened attention and has been amplified by the many daily Twitter spaces on the topic. This intense interest stems not just from Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) members but also from those outside these communities who seek to understand the election’s structure and dynamics.

The surge in attention is due in no small part to the recent controversy involving the compensation and grants of its Special Council Members. However, not only is the ApeCoin DAO holding an election for Special Council members, but they are also holding another to elect new Stewards.

If you’re not an active member of BAYC or MAYC, a holder of ApeCoin, or simply wish to gain insight into the election’s workings, we worked with ApeCoin DAO secretary Vulkan to make things easier to understand. Here’s an overview of what you need to know.

Available positions

Credit: Vulkan/ApeCoinDAO

Currently, there are two spots open for Special Council members and two Steward openings. Members elected to the ApeCoin DAO can serve up to two terms at a time.

In November 2022, three council members — Steinbeck, Bajwa, and Wu — stepped down from their roles in the DAO. After a community vote on January 1, 2023, ApeCoin DAO inducted of BoredApe G, Vera, and Gerry as new council members. The positions currently available are Alexis Ohanian and Yat Siu’s expiring positions.

“As for WebSlinger, there may or may not be an election for a DAO Administrator in the future,” Vulkan told nft now. “WebSlinger is currently under contract and would have to propose a new contract before their term is up if they want to have it voted on by the DAO.”

Who’s running?

Credit: ApeCoin DAO

Here are the Special Council nominees. There were originally 21 nominees (shown above), but Evil and Houdinifr removed themselves from consideration. Each candidate’s profile, including nomination statement, motivation, and rationale, can be viewed on the official ApeCoin website.

The candidates running for Steward are listed here:

Credit: Snapshot

Who’s eligible to vote?

Everyone who owns $APE will be able to vote. One $APE = one vote. Votes are currently open on the voting link. Any ApeCoin purchased after June 14 at approximately 04:15 p.m. +UTC will not be counted in Round One of voting.

How can I check how the candidates are doing?

Those curious about how the election is going can visit Snapshot to see which candidates are leading the race. The two green items at the top of the page are for the current Round One elections.

Here are the current top 15 for Special Council at the time of publication:

Credit: Snapshot

Voting period

The bright side You know how to be better prepared for when round 2 comes around^^ (June 22-28) pic.twitter.com/2bvkuxXXmC

— Sera☆ (@SeraStargirl) June 15, 2023

There are two rounds of voting: Round One, currently being held from June 15 to June 21, will narrow the nominees to five finalists. Round Two, which will take place from June 22 to June 28, will narrow it further to the top two finalists. The election will conclude on June 28.

The dates and deadlines are for both the Special Council and Governance Steward elections.

The post Understanding the ApeCoin DAO Election with Secretary Vulkan appeared first on nft now.

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