Huang Licheng's proposal to purchase Yuga assets with 11 million APE and issue the token DAM has been approved.

According to BlockBeats news on September 21st, the Snapshot governance interface showed that the proposal put forward by "Brother MaJi" Huang Licheng to purchase Yuga assets with 11 million APE tokens has been approved with a 64.92% approval rate. The community will use 11 million APE tokens to purchase Yuga assets, including NFTs such as BAYC, MAYC, BAKC, and CryptoPunks, for exhibitions and donations to art institutions to enhance the global dissemination of digital art. The APE distribution mechanism will be jointly determined with the APE Foundation. It is reported that ApeCoin DAO also plans to launch governance token DAM for selecting and managing NFT collections. 30% of DAM will be distributed to ApeCoin stakers within five years, and 70% will be allocated to the treasury, to be determined by token holders' votes.