Horizen Labs And Arbitrum Are Teaming Up To Possibly Build ApeChain For The ApeCoin DAO
ApeCoin DAO launch partner and creator of the ApeCoin DAO’s staking system, Horzien Labs, has announced a collaboration with Arbitrum to explore the creation of an ApeChain solution for the DAO.
A month after ApeCoin DAO launch partner Horzien Labs announced its participation in the $Ape ecosystem and its exploration of creating an ApeChain, the company revealed a partnership with Arbitrum. Together, they are working on building an ApeChain on Arbitrum Orbit chains.
For those unfamiliar with Arbitrum’s Orbit chain, the Arbitrum Foundation describes it as a protocol that 'lets you create your own dedicated chain that settles to one of Arbitrum's Layer 2 (L2) chains: Arbitrum One, Arbitrum Nova, Arbitrum Goerli, or Arbitrum Sepolia. You own your Orbit chain and can customize its throughput, privacy, gas token, governance, and more.'
Simply put, Horizen Labs and Arbitrum suggest that if the ApeCoin DAO chooses their ApeChain on Orbit chains, the community will be able to use $Ape as the Apechain’s native gas token, generate revenue via a transaction fee, experience low gas fees, customize the chain’s code as the community sees fit, and have self-executing governance, according to Horizen Labs’ Discourse forum post.
“We’ve been excited to see @ApeCoin DAO rally around the idea of a dedicated ApeChain, and agree that it would enhance the DAO’s value proposition,” Arbitrum tweeted earlier this week. “Our goal is to combine the strength of the APE brand with Arbitrum’s technology and cement ApeChain as the nexus of onchain gaming. Arbitrum is the leading ETH scaling solution with >50% of L2 market share and has the third largest ecosystem in terms of protocol count. ApeChain will benefit from proximity to Arbitrum’s lively ecosystem of builders, its technical maturity, and alignment with Ethereum.”
As the Bored Ape Gazette previously reported, talks of a possible Apechain for ApeCoin have circulated around the swamp since Yuga Labs’ Otherside mint when gas fees got outrageously high.
ApeChain talk intensified this fall after Polygon Labs Co-Founder, Sandeep Nailwal, posted an idea on the ApeCoin DAO’s discourse forum last month that called for the creation of a “ zero-knowledge powered Layer-2 “ ApeChain for ApeCoin.
Since then, Optimism has pitched its own idea to build the ApeCoin DAO’s Apechain as part of Optimism’s Superchain. This idea has also been supported by MachiBigBrother and Lumberg’s ApeChain A-Team.
Horizen Labs and Arbitrum are hosting a Twitter Space tomorrow afternoon at 12 P.M. EST to further discuss their proposal.
The Bored Ape Gazette will be in attendance during tomorrow’s space and will keep you posted on all things ApeChain. Stay tuned for updates!