'A LOT OF GOOD THINGS': The ApeCoin DAO And Horizen Labs Discussed Apechain And The Likelihood Of Airdrops And More

Get ready to enter the most wonderful place on the blockchain. The ApeCoin DAO's highly anticipated Apechain is just around the corner, and Horizen Labs has teased that it will be like a 'theme park' for the $Ape community, where holders will likely receive airdrops and more once it opens!

Two months after the ApeCoin DAO selected Horizen Labs, Offchain Labs, and the Arbitrum team to develop its ApeChain as part of Arbitrum’s Orbit chains, the ApeCoin DAO hosted a Space with the Horizen Labs team. There, they provided $Ape holders with an overview of what ApeChain is and what the community can expect going forward.

“This is the moment where we are starting to get things really going, Horizen Labs’ Vice President of Ecosystem Growth Blockchainzilla AKA Spencer said. “For those of you who do not know, Apechain is being built as an Arbitrum Orbit chain. It is going to be a gaming first, but not gaming only chain. Its ultimately supposed to be a theme park for ApeCoin, where everything is denominated ApeCoin, not just the gas fees. Pairs are in ApeCoin, incentives are in ApeCoin. We are trying to get on games, applications, protocols that are all using ApeCoin in their economies. Up to this point, we have been heads down and that has been setting a lot of the groundwork.”

Later in the space,Spencer talked about creating an Omnichain Fungible Token (OFT) wrapper with Layer Zero for $Ape. This is expected to ramp up in mid to late May and will enable token holders to transfer their $Ape coins not only to ApeChain but also to various other ecosystems.

“The idea is that there will be an adaptive contract that will be wrapped around ApeCoin, Horizen Labs’ Blockchainzilla AKA Spencer said. “Once the OFT wrap is on top of ApeCoin, its going to make it really easy to move it throughout different ecosystems."

ApeCoin DAO Facilitator Lost then asked Spencer about a possible Layer Zero token airdrop for $Ape holders once ApeChain opens its digital doors.

“I don’t know about that one in particular,” he said. “I would say I think that there will probably be a lot of airdrops though without naming any names.”

Following Spencer’s comments the Gazette tweeted that $Ape holders can expect a lot of airdrops in the future.

Following the paper's post, Lost asked Spencer and the Horizen Labs team about airdrops again. They reiterated that airdrops and more are on the way, but nothing is set in stone, and $Ape holders can expect "a lot of good things.

“I think we are going to find a lot of projects that are coming on here, and the way that we are designing the incentive program around it, are going to open up a lot of opportunities but nothing is set in stone,” Spencer said.

Further, Aepicurean, who was also on stage today and will be working to bring builders to Apechain, went on to explain that the funding mechanisms that he and his team will be bringing up for a DAO wide vote later this year will require creators and builders to reward $Ape holders in some way shape or form.

“The long term funding mechanisms that we are going to be proposing have it very explicitly written in there that, through commercial agreements, the ApeCoin holders and the community are going to get some sort of economic value. Whether that is fee and revenue share, whether its airdrops, whether it giving utility to $Ape that makes people want to buy it and join the community, those are going to be absolute 100 percent requirements to get funding.”

 

The Bored Ape Gazette will continue to follow all things ApeChain and will let you know about any possible airdrops, revenue shares, or added utility for $Ape holders. Stay tuned for updates!