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This move blind-sided Kyloren, the DAO's founder. In response, he has removed the majority of liquidity of the $WETH/$APED liquidity pool on Uniswap to prevent more people from accumulating at a "discount".
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Even if the liquidation vote passes, there is always the possibility that the multi-sig signers do not proceed with the actions. Web3 isn't perfect and we still need humans-in-the-loop. Delegation of actions to multi-sigs is one of them.
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Disclosure: I was a member of ApeDAO from July 2021 to December 2021. I am not longer involved with the DAO and have not participated in the current discussion or voted in anyway.
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Web3 truly in its Wild West moment right now. This is a shining example Seeing how ApeDAO navigates through this decision will be a learning lesson and great case study of decentralized coordination of millions of dollars between strangers, with conflicting interests
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