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Apecoin Integrates With Polygon, DAO Board Member Says Native APE Chain Was Never Discussed – Bitcoin News


Following one of many largest non-fungible token (NFT) mints in historical past and after apecoin transactions from the sale fueled Ethereum community charges, apecoin is now built-in with the Polygon (MATIC) community. On May 2, the Apecoin undertaking introduced that with Polygon assist, APE is now out there through MATIC’s 19,000 decentralized functions (dapps) and video games.

Apecoin Is Now Supported by Polygon, Apecoin DAO Board Member Says Separate Apecoin Network Proposal Would Need to Use the AIP-1 Process

Three days in the past, Bitcoin.com News reported on the Bored Ape Yacht Club-centric Otherside metaverse land sale which has been the most important NFT assortment when it comes to gross sales over the last seven days.

Week-long statistics from cryptoslam.io present Otherdeed has seen $721,337,124 in gross sales up to now. Moreover, the crypto token apecoin (APE) and its transactions throughout the sale, pushed ether fuel charges considerably larger throughout the metaverse deed sale.

The Bored Ape Yacht Club (BAYC) creators, Yuga Labs, said on the time that it “seems abundantly clear, that Apecoin will need to migrate to its own chain in order to properly scale.” However, as a substitute of a separate Apecoin community, the token constructed on Ethereum is now integrated with Polygon and an Apecoin DAO board member mentioned there won’t be a separate Apecoin blockchain.

Apecoin DAO board member Yat Siu stressed: “no discussion was had either at the [Apecoin] board level or with any other parties (including [Yuga Labs]) of a possible apechain; this is a completely new idea to us.” Yat Siu additional added:

As with all [Apecoin] DAO initiatives, any resolution to think about constructing a sequence can solely be finished with the consent of the [Apecoin] neighborhood by [AIP-1: DAO proposal process]. Various L1 & L2s have signaled that they may submit a proposal to the DAO. Any obtained proposals will undergo the standardized governance course of outlined on the official web site.

Apecoin Taps an All-Time Price High, Apecoin DAO Board Member Mentions Animoca Brands’ Stake in Apecoin Projects

The Polygon integration additionally follows apecoin’s latest all-time worth excessive on April 28, 2022, six days in the past. APE tapped an all-time excessive in opposition to the U.S. greenback at $26.70 per unit and APE is down 42% since then. Despite the weekly drawdown, APE is up 24% over the last 30 days and it holds the thirty second largest market cap amongst 13,388 cryptocurrencies in existence.

At the time of writing, APE’s market valuation is $4.35 billion and the coin has seen $2.58 billion in 24-hour commerce quantity. The APE market cap represents 0.23% of the $1.84 trillion crypto-economy this week. The Apecoin DAO board member Yat Siu additionally detailed that Animoca Brands is an investor in lots of Apecoin-related L1 or L2s.

“[Animoca Brands] as a significant investor in many L1 or L2s will also not be voting on any decisions of potential L1 & and L2 collaborations in which it has a material stake,” the Apecoin DAO board member concluded. Presently, there are 3.9K Apecoin DAO members concerned with the governance course of, in accordance with apecoin.com stats.

Tags on this story
All time high, Animoca Brands, apechain, Apecoin (APE), Apecoin DAO, Apecoin DAO board member, Apecoin Polygon, apecoin.com, governance process, L1, L2, nft, NFTs, Non-fungible Token, Otherdeed, Otherside Land Sale, separate chain, separate network, Yat Siu

What do you concentrate on apecoin assist on Polygon and the latest commentary from Apecoin DAO board member Yat Siu? Let us know what you concentrate on this topic within the feedback part under.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com News concerning the disruptive protocols rising at the moment.

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