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The ApeCoin community (APE) believes that at the moment APE should remain on the Ethereum blockchain. The AIP-41 proposal received 99% of the votes to keep ApeCoin (APE) in the Ethereum ecosystem and avoid migrating to any L1 chain or sidechain.
The proposal contradicts bored Ape owner Yuga Labs’ idea of moving ApeCoin to its own network to improve scalability. Yuga Labs put forward this idea after the long-awaited Otherdeed for Otherside NFT platform significantly pushed the price of Ethereum gas.
ApeCoin (APE) remains on the Ethereum blockchain
The ApeCoin DAO began voting on the “Keep ApeCoin in the Ethereum Ecosystem” proposal today, and the voting window expires on June 9. On the first day, the proposal received a huge number of votes in favor of preserving ApeCoin in the Ethereum ecosystem.
At the time of writing, the proposal has received 99.94% in favor and 0.06% against. In fact, 285,000 APE voted in favor of the proposal, and only 174 APE voted against.
ApeCoin DAO believes that switching to another chain is costly, risky, difficult and can lead to unforeseen circumstances. What’s more, the DAO’s ApeCoin is also considering abandoning Yuga Labs and other organizations.
In fact, moving to a different chain could cause Yuga Labs to stop supporting and using ApeCoin (APE) for its NPTs, including Bored Apes, Mutant Apes, or Otherside Deeds. Despite concerns about Ethereum’s gas charges and transaction times with Ethereum, moving away from the Ethereum ecosystem could hurt ApeCoin, its holders, and the interests of the DAO.
The offering also uses meaningful Level 2 solutions, such as Arbitrum and Optimism, or zk-rollup, such as StarkNet, zkSync, and Polygon Hermez. The DAO believes that the solution can help improve the commission and speed of transactions.
Offers from ApeCoin transfer networks
ApeCoin has received offers from many networks, including Avalanche and Immutable X, about moving ApeCoin in their net. However, the community is strongly opposed..
The price of ApeCoin (APE) is trading at $6.19, down 75% from the high at the end of April.
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