Horizen Labs, Offchain Labs, and Arbitrum Foundation Collaborate to Develop Apechain
A collaboration between Horizen Labs, Offchain Labs, and the Arbitrum Foundation aims to bolster the apecoin (APE) ecosystem through the development of a dedicated blockchain, Apechain. Envisioned to leverage Arbitrum technology and governed by Apecoin DAO, the teams believe this initiative represents a significant step toward expanding the utility and reach of apecoin.
Apechain: Enhancing the Value Proposition of APE Ecosystem
The proposed Apechain will be a dedicated chain for the apecoin (APE) community, developed using Arbitrum technology. Spearheaded by Horizen Labs, Offchain Labs, and the Arbitrum Foundation, this initiative aims to enhance the value proposition of the APE ecosystem. The teams are confident that leveraging Arbitrum’s technology will position Apechain for success as an independent governed chain in the Ethereum ecosystem.
Apechain as a Cornerstone of the Ape Brand
The recommendation positions Apechain as a cornerstone of the Ape brand, with APE as its native gas token. This integration of APE identity into Apechain aims to extend the reach and utility of APE in the broader crypto landscape. The teams also propose the permission to use “powered by Apecoin” branding to further emphasize this integration.
Apechain: Focusing on Gaming and User Experience
A key aspect of the Apechain vision is to become a hub for next-generation consumer-facing applications and games by prioritizing gaming. By offering low fees and fast transactions, Apechain aims to provide a better user experience for its users. This strategic focus is aligned with Yuga Labs’ gaming strategy within its ecosystem.
Strong Connection with Ethereum and APE Performance
Maintaining a strong connection with Ethereum is a critical aspect of the Apechain proposal as the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and the broader APE community are influential within the Ethereum NFT ecosystem. Meanwhile, APE has experienced a decline this year, down 54% year-to-date. However, there have been recent improvements with APE rising 13% against the U.S. dollar in the past two weeks. APE is currently trading at $1.63 per unit, down 93% from its all-time high.
Hot Take: Expanding the APE Ecosystem with Apechain
A collaboration between Horizen Labs, Offchain Labs, and the Arbitrum Foundation aims to expand the utility and reach of apecoin (APE) through the development of Apechain. Leveraging Arbitrum technology and governance by Apecoin DAO, Apechain is set to become an independent governed chain in the Ethereum ecosystem. By prioritizing gaming and ensuring a better user experience, Apechain aims to position itself as a hub for next-generation applications and games. This proposal also strengthens the integration of APE into the broader crypto landscape, with a focus on maintaining strong connections with Ethereum and the influential Bored Ape Yacht Club community. Despite recent declines, this collaboration holds the potential to enhance the value proposition of the APE ecosystem.
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