<\/p>\n
Community reactions are mixed after the author of the winning proposal, Horizen Labs, cast the largest block of votes.<\/p>\n
The decentralized autonomous organization (DAO) behind ApeCoin has voted to build its gaming-focused ApeChain as a Layer 3<\/a> network atop Arbitrum, the leading Ethereum scaling solution by total value locked.<\/p>\n ApeChain will be governed by APE holders and the token will also be used to pay transaction fees on the network.<\/p>\n \u201cOur role is to provide the infrastructure for the ApeCoin DAO to execute ITS vision for ApeChain,\u201d said<\/a> Steven Goldfeder, cofounder of Offchain Labs, the company behind Arbitrum.<\/p>\n APE rallied 5% on the news and is up 16% in the past week \u2013 a respite for a token that has consistently trended lower since launching<\/a> nearly two years ago.<\/p>\n <\/p>\n <\/a><\/p>\n The ApeCoin DAO set out to build its own dedicated blockchain last month, aiming to enhance efficiency and reduce transaction costs within the APE ecosystem. As an ERC-20 token on Ethereum, ApeCoin has faced adoption challenges due to high gas fees on mainnet.<\/p>\n The DAO fielded proposals to build ApeChain on different platforms, including Arbitrum, Optimism, and skSync. AIP-378<\/a>, a joint proposal by Horizen Labs and Offchain Labs, eventually emerged as the winner.<\/p>\n Arbitrum Orbit<\/a>, where ApeChain will be built, provides a platform for the creation of customized Layer 3 appchains on top of Arbitrum\u2019s One and Nova Layer 2 network. The high throughput offered by Orbit chains is well suited to the DAO\u2019s goal of buildinng a Web3 gaming platform.<\/p>\n The ApeChain roadmap also includes the implementation of APE as an omnichain fungible token (OFT) powered by LayerZero<\/a> \u2013 giving the token cross-chain functionality.<\/p>\n While AIP-379 passed<\/a> with just over half the votes cast in favor, many community members are unhappy<\/a> with the outcome, mainly because the largest voter was Horizen Labs, a technical service provider that authored the winning proposal.<\/p>\n <\/p>\n Start for free<\/a><\/div>\n <\/p>\n \u201cCongratulations to Horizen on voting for Horizen and winning the Ape Chain proposal,\u201d wrote<\/a> Bunny. Another user accused<\/a> the DAO\u2019s upper echelons of self-dealing.<\/p>\n Horizen Labs was previously chosen to develop APE staking and criticized<\/a> for its execution.<\/p>\nGovernance Controversy<\/h2>\n
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