The ApeCoin community voted to develop the ApeChain network on Arbitrum, supported by Horizen Labs, marking a significant step in expanding the Ape ecosystem.
APE tokens will serve as gas and governance tokens on the new network, aiming to boost operational efficiency and community governance.
The ApeCoin community has cast its votes, choosing Arbitrum as the foundation for the new ApeChain network. This decision was made following a community vote of approximately 25 million APE tokens, showcasing the majority’s preference for Arbitrum over other contenders, with Polygon being a notable runner-up.
Congratulations to @apecoin DAO on its decision to develop ApeChain utilizing the Arbitrum tech stack!
With $APE serving as both the gas and governance token for ApeChain, Arbitrum Orbit’s customizability empowers @ApeCoin DAO with true ownership and control over this…
— Offchain Labs (@OffchainLabs) February 15, 2024
The snapshot vote, identified as #19,095,282, saw a narrow victory,
