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- The ApeCoin DAO community has made the decision to transition to the Arbitrum sidechain, kickstarting the development of ApeChain.
- This move, driven by challenges on the Ethereum mainnet, was endorsed through a community voting process.
- While Offchain Labs, a prominent Arbitrum developer, has shown support for the transition, there are uncertainties among others.
Exploring the Shift to ApeChain
The ApeCoin DAO community recently opted to shift from Ethereum to the Arbitrum sidechain to establish ApeChain. This change, sanctioned by a community vote, comes in response to significant issues encountered on the Ethereum mainnet. Nearly two years ago, Yuga Labs, the creator of Bored Ape Yacht Club, suggested that the ApeCoin DAO should contemplate launching its own chain. Offchain Labs, a key developer for Arbitrum, has expressed enthusiasm for the transition, referring to ApeChain as a platform within the Ape ecosystem. However, some stakeholders remain skeptical, believing that Ethereum’s upcoming on-chain enhancements may impact the move negatively.
Steering Towards A New Horizon
Calls to shift away from Ethereum for the Bored Ape franchise have persisted since May 2022, when the launch of the Bored Ape metaverse, Otherside, caused disruptions on the Ethereum network.
Last year, Yuga Labs collaborated with computing firm Hadean to enhance the scalability of Otherside, yet the ApeCoin DAO community seems inclined towards a fresh start.
In a recent vote, members of the ApeCoin DAO expressed their preference for developing ApeChain on the Arbitrum sidechain, with over 50% of token-based votes supporting this move. Offchain Labs and their partner Horizen Labs presented Arbitrum as the preferred option for the community:
Congratulations to @apecoin DAO on its decision to develop ApeChain utilizing the Arbitrum tech stack!
With $APE acting as both the gas and governance token for ApeChain, Arbitrum Orbit’s adaptability empowers @ApeCoin DAO with genuine ownership and control over this…
— Offchain Labs (@OffchainLabs) February 15, 2024
Although many view the transition favorably, not all share the same sentiment. Some individuals have raised concerns that Ethereum’s forthcoming advancements could undermine the significance of this migration:
Such a poor choice to establish @apecoin on @arbitrum
No one will opt for Arbitrum once ZK gains traction 🤦🏻♂️
— Jonnie King 🍌👑 (@JonnieKing) February 15, 2024
Preparations for ApeChain Launch
Offchain Labs and Horizen Labs are actively gearing up for the launch of ApeChain, aimed for the second quarter of 2024. However, final discussions with the ApeCoin community are pending to ensure alignment with the objectives and requirements of all stakeholders.