Animoca Brands co-founder Yat Siu has launched the ApeCoin proposal to create a "Sister DAO" and NFT treasury.

According to BlockBeats news on September 17th, the Snapshot governance interface displayed that Animoca Brands co-founder Yat Siu initiated an ApeCoin proposal AIP-297, aimed at creating a "Sister DAO" to manage a community-controlled NFT treasury within the ApeCoin DAO ecosystem. The proposal will end voting on September 21st and has currently received a support rate of 73.87%. According to the governance interface, the "Sister DAO" will operate outside of the main ApeCoin DAO, but still composed of the same membership base, with the only requirement being ownership of 1 APE. ApeCoin DAO will allocate 750,000 APE (approximately $825,000) to the treasury for purchasing NFTs.