ApeCoin Whales Oppose Proposal to Remain on Ethereum

apecoin-oppose-proposal-to-remain-on-ethereum

Some APE whales have voted against the ApeCoin DAO’s plan to remain on Ethereum (ETH), indicating that the bulk of the community favors switching to a different chain, at least for the time being.

Proposal AIP 41, dubbed ApeCoin Improvement Proposal (AIP) 41, requests token holders to continue on Ethereum despite the gas expenses.

However, at least three ApeCoin whales have voted against the plan, each contributing APE 404,000, APE 153,000, and APE 151,000 out of the supply of APE 1 billion, respectively, to cast their votes.

There was a single vote supporting the proposition with an APE of 150,000.

Presently, the AIP 41 has 53 percent against and 47 percent in favor, which means that the majority is currently in favor of migratory whales.

Starting on June 3 and running through June 9, you may cast your vote now.

A significant majority of people favored the plan early on in the voting process.

Also Read, ApeCoin Alternative Coin

ApeCoin DAO member ASEC applied on May 1, stating that “migrating to a new chain is an expensive, hazardous, and difficult operation that may, if not thoroughly handled, result in catastrophic loss, or at worst, desertion by Yuga Labs and other organizations that would otherwise be [important] to ApeCoin.”

Yuga Labs, the company behind the famous non-fungible token (NFT) collection Bored Ape Yacht Club, suggested that ApeCoin transfer to its chain for scale reasons when the Otherdeed mint choked the Ethereum mainnet.

“At the time, Yuga Labs stated, “We are sorry for shutting out the lights on Ethereum for a period.” They added, “It appears evident that ApeCoin will need to move to its chain to grow effectively. We’d want to see the DAO begin to consider this possibility.”

According to the forum comments, the vast majority of users favor remaining on Ethereum.

“I agree with your attitude that we should NOT move from the Ethereum chain. That gives us the most security and liquidity ESPECIALLY with ETH 2.0 coming in the future,” one user remarked in response to ASEC.

On the other hand, other users commented that the project might be scaled using Layer 2 solutions. When it comes to building their apps, another user suggested that they instead turn at arbitrum and optimism, zksync and immutable, or utilize them as they are, or fork and develop there.


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