ApeCoin DAO, the Web3 organization associated with ApeCoin, has recently faced backlash due to concerns over its high payouts and perceived lack of community engagement.
Critics have raised objections to the substantial salaries and fees, reportedly reaching up to $75,000 per month, that the DAO has been providing to its leadership board.
These remuneration practices have drawn scrutiny and triggered discussions about the organization’s alignment with the interests of its community members.
The controversy arose after an organizational chart was shared on Twitter by the ApeCoin DAO secretary, known as “Vulkan”. The chart revealed the salaries of the DAO’s leadership.
A Twitter user expressed astonishment at the salaries, describing them as “insane” and raising concerns that the DAO might be spending money without “sufficient justification.”
The community member specifically questioned the purpose of the “special counsel” and stated that they were unaware of the contributions or actions that would warrant a monthly salary of $20,000.
Another observer took to the chart to inquire about the application process for a position at ApeCoin, while expressing disbelief at the reported $8,000 monthly salary for moderators.
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These comments highlight doubt about the compensation offered for specific organizational roles. Another critic noted that the leadership appeared to be out of touch and disconnected from the realities and expectations of the community.
The controversy surrounding ApeCoin DAO’s salaries and roles has ignited a meaningful debate within the Web3 community, focusing on decentralization and the functioning of DAOs. This discussion has prompted reflection and analysis on how decentralized governance should ideally operate.
Source: https://bitcoinist.com/apecoin-dao-faces-criticism-for-salary-dispute/