Summary
TLDR: The ApeCoin DAO, community of Bored Ape Yacht Club token holders, voted for an Arbitrum proposal to launch ApeChain, a gaming-focused Ethereum layer-2 scaling network. The decision aims to reduce costs and inefficiencies on the Ethereum mainnet. The ApeChain is set to launch in Q2 2024, with a focus on gaming applications and customization options. Yuga Labs, the creator of Bored Ape Yacht Club, plans to embrace the ApeChain for future projects.
Key Points
1. The ApeCoin DAO, which governs the token, has decided to launch its own chain called ApeChain to avoid Ethereum mainnet fees and issues, with the chain set to run on Arbitrum technology.
2. The decision to choose Arbitrum as the Ethereum layer-2 scaling network for ApeChain was made after a governance vote where the proposal received more than 50% of the token-based votes, beating out other options like Polygon and zkSync.
3. ApeChain will be focused on gaming applications, with a strong emphasis on supporting video games within the Bored Ape ecosystem, such as the Otherside metaverse game, to address the high costs and inefficiencies associated with Ethereum’s mainnet for mass-market applications.