ApeDAO, an autonomous organization that launched its own token APED backed by the Bored Ape Yacht Collection (BAYC) NFTs, is ready to sell 81 BAYC tokens to reimburse community members over low trading volumes.
According to a vote — which is still in progress as of press time — approximately 46% of voters say the organization should liquidate all assets, while almost 54% are against this. The DAO says:
Given the current gap between $APED price and net asset value of DAO holdings, liquidating the DAO would generate substantial returns for $APED Holders. There have been few concrete proposals/ideas that would generate similar returns as simply liquidating the DAOs assets.
The deadline for the voting is set for February 3, 2022. However, NFTEvening notes that even a majority vote alone may not be enough as the treasury is locked by a multi-sig wallet with four signers. Currently, only one of the signers voted towards liquidation.
Read also: BAYC NFTs creator says pay wasn't "ideal"
As per Zapper, ApeDAO's treasury in BAYC is worth approximately $26.6 million (~9,500 ETH). ApeDAO issued 1,000,000 APED tokens in June 2021. The tokens, which were sold out in four days, also represent voting rights in the DAO.