After one of the most significant non-fungible token mints (NFT), and after the apecoin transaction fees from the sale fueled Ethereum network, apecoin has been integrated with the Polygon network (MATIC). On May 2, the Apecoin project announced that with Polygon support, APE is now available via MATIC’s 19,000 decentralized applications (dapps) and games.
Apecoin is now supported by Polygon. Apecoin DAO board member says a separate Apecoin network proposal would need to use the AIP-1 process.
Bitcoin.com News covered the Bored Ape Yacht Club-centric Otherside Metaverse Land Sale, which had been the most successful NFT sale in seven days.
Otherdeed’s week-long stats from cryptoslam.io are shown $721,337,124To date, in total sales. In addition, APE (crypto token) transactions and the sale of the cryptocurrency resulted in ether gas fees being significantly increased during the metaverse sale.
Yuga Labs is the creators of The Bored Ape Yacht Club, (BAYC). said at the time that it “seems abundantly clear, that Apecoin will need to migrate to its own chain in order to properly scale.” However, instead of a separate Apecoin network, the token built on Ethereum is now integrated with PolygonA member of the Apecoin DAO board suggested that there may not be an Apecoin separate blockchain.
1. @OthersideMeta mint we saw a series of reactions & discussions in & around the @apecoinThat includes the community $ape should move to its own chain to limit issues with gas fees & scaling. Let me step back and provide some clarity & context https://t.co/FdgznVeMr8
— Yat Siu (@ysiu) May 3, 2022
Yat Siu, Apecoin DAO Board member stressed: “no discussion was had either at the [Apecoin]Board level, or any other party (including [Yuga Labs]) of a possible apechain; this is a completely new idea to us.” Yat Siu further added:
Like with everything [Apecoin]DAO Initiatives: Any decision to build a chain must be approved by the [Apecoin]Community through [AIP-1: DAO proposal process]. Various L1 & L2s have signaled that they will submit a proposal to the DAO. The DAO will review any proposals that are received.
Apecoin Taps an All-Time Price High, Apecoin DAO Board Member Mentions Animoca Brands’ Stake in Apecoin Projects
The Polygon integration also follows apecoin’s recent all-time price high on April 28, 2022, six days ago. APE reached a record high of $26.70 per unit against the U.S. Dollar, and APE has fallen 42% in that time. APE has the 32nd highest market capital among the 13,388 cryptocurrency in existence, despite the drawdown.
At the time of writing, APE’s market valuation is $4.35 billion and the coin has seen $2.58 billion in 24-hour trade volume. APE’s market capitalization is 0.2% of $1.84 trillion in crypto-economy. Yat Siu, Apecoin DAO Board member, also stated that Animoca Brands has invested in several Apecoin-related and L1s 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. According to stats.apecoin.com, currently, there are 3.9K Apecoin DAOs involved in the governance process.
How do you feel about the apecoin support for Polygon? What did Yat Siu’s recent comment on Apecoin DAO Board member Yat Siu say? We’d love to hear your opinions on the subject below in comments.
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