The ApeCoin DAO Is Discussing The Creation Of Layer 2 ApeChain. Here's What You Need To Know:
The Co-Founder of Polygon posted an Ape Improvement Proposal idea at the ApeCoin DAO yesterday that has reinvigorated talks about the creation of an ApeChain for $Ape.
On Tuesday, ApeCoin DAO Contributor and Polygon Labs Co-Founder, Sandeep Nailwal, posted an idea on the ApeCoin DAO’s discourse forum that called for the creation of a “ zero-knowledge powered Layer-2 “ ApeChain for ApeCoin.
For those who are unfamiliar with a zero-knowledge powered Layer-2 its defined as “scaling solutions that increase throughput on Ethereum Mainnet by moving computation and state-storage off-chain. ZK-rollups can process thousands of transactions in a batch and then only post some minimal summary data to Mainnet,” according to Ethereum.org.
In simpler terms, this means that a layer 2 could be faster and cheaper than a layer 1 option.
While this AIP is still in the idea phase and is a ways away from going to a vote, it’s getting a lot of attention from the community. Even Yuga Labs’ Chief Gaming Officer, Spencer Tucker, took to Twitter and shared his thoughts on the idea of an ApeChain.
“Seeing a lot of talk re: Polygon's new AIP,” he tweeted. “From the long term gaming side of things, an L2 would make interactions faster and cheaper. One of the biggest pain points is sheer frequency and volume, when factoring in gas on top, normies are gonna struggle. And let’s face it, a broader audience is our future. Think I can say we here are excited to see the community looking to solve these considerations for ALL builders and the possibilities it could bring for Otherside/Yuga's future games.”
As the Bored Ape Gazette previously reported, the idea of an ApeChain has been discussed since the early days of the DAO and was brought up by Yuga Labs following its Otherside mint that saw insanely high gas fees.
“We're sorry for turning off the lights on Ethereum for a while,” Yuga Labs tweeted on April 30, 2022. “It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We'd like to encourage the DAO to start thinking in this direction.”
This is a major story that has many parts. The Bored Ape Gazette is working to find out more about ApeChain and has reached out to several Apes about this idea and will bring you continued coverage of this important discussion. Stay tuned for updates!