Nearly two years after Bored Ape Yacht Club creator Yuga Labs made the suggestion, the ApeCoin DAO has voted to launch its own chain on Arbitrum.
The Ethereum layer-2 scaling network proposal from Arbitrum creator Offchain Labs and Horizen Labs was chosen by ApeCoin DAO voters. The proposal received more than 50% of the token-based votes, beating out other Ethereum scalers like Polygon and zkSync.
Yuga Labs initially suggested launching a separate chain due to the high fees and inefficiencies of the Ethereum mainnet. The demand for NFT land deeds for the Otherside metaverse game highlighted these issues.
The ApeChain, set to launch in Q2 2024, will focus on gaming applications. It will allow builders to launch DeFi protocols and other apps, but its primary focus will be on video games.
Arbitrum’s gaming ecosystem expands
Arbitrum’s gaming ecosystem has been growing with the launch of Xai, a “layer-3” gaming network developed with Offchain Labs. Additionally, Treasure plans to create a more expansive Treasure Chain that will let individual crypto games launch their own chains tied to it.
ApeChain’s benefits and decisions
By using Arbitrum, ApeChain will be able to use ApeCoin as both the governance and network fee token. It will also enable customizations such as enforcing creator royalties on NFT sales and allowing future technical upgrades.
The decision to choose Arbitrum was seen as a win for the Ethereum ecosystem. The ApeCoin DAO hopes that Yuga Labs will embrace and use ApeChain in the future.
Hot Take: ApeChain brings scalability and focus to Bored Ape Yacht Club
The launch of ApeChain on Arbitrum is a significant development for the Bored Ape Yacht Club and its community. By creating its own chain, the club aims to address the high fees and inefficiencies of the Ethereum mainnet. With a focus on gaming applications, ApeChain will provide scalability and customization options for builders within the ecosystem. The decision to choose Arbitrum over other scaling solutions demonstrates the growing importance of layer-2 networks in the crypto space. As ApeChain prepares for its Q2 2024 launch, it will be interesting to see how it impacts the Bored Ape gaming space and attracts new users.
By
By
By
By