Polygon Proposes 'ApeChain' Implementation via AIP
Polygon Labs co-founder Sandeep Nailwal proposed the implementation of a dedicated zk-L2 "ApeChain" to be built in conjunction with Polygon Labs in a formal AIP via the ApeCoin DAO forum.
The Deets
- New Chain, ApeChain: Developed using Polygon CDK, focusing on ease and modularity.
- Collaboration: Involves ecosystem collaboration with Polygon Labs.
- Development Fund: A separate fund from ApeCoin DAO's treasury to fuel the growth of ApeCoin-related projects and ApeChain-associated public services.
- Migration Need: ApeCoin migration to its own chain was anticipated 18 months earlier by Yuga Labs.
The Bulk
Polygon Labs is hoping to create a unique dedicated zk-L2 in collaboration with ApeCoin DAO.
By having its very own chain, ApeCoin DAO aims to address scaling issues, ensuring that all affiliated projects and experiences have a dedicated and efficient space to operate. This could, in turn, attract more users and facilitate a wide range of value generation, including assets, content, and data.
In fact, Yuga Labs itself called for the potential of its own chain shortly after the expensive Otherside mint.
The value propositions being put forward by this collaboration are promising: heightened security, reduced fees, high customizability, instant withdrawals, and shared liquidity, to name a few.
🎤 Founder Feedback
As a result, by virtue of ApeCoin DAO gaining composability and interoperability with the entire modular suite of Polygon solutions, the ApeCoin ecosystem will be primed for tremendous growth.Sandeep Nailwal, Co-Founder Polygon Labs
📊 By the Numbers
Polygon is seeking $200,000 annually to help with implementation and future growth.
🔜 What's Next?
The proposal is just entering the formal AIP process. Assuming it is approved through the beginning stages, it will be assigned an official AIP and moved to a DAO vote.
🎬 Take Action
You can dive deeper into the proposal here.
For more web3 and NFT news, visit the Lucky Trader newsfeed.
