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Apecoin is now integrated with the Polygon (MATIC) network

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Joyashree Dey Follow

INDIA

May, 05 2022

May, 05 2022

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On May 2, ApeCoin (APE) announced its integration with Ethereum (ETH) sidechain Polygon (MATIC), and with Polygon support, APE is presently accessible through MATIC's 19,000 decentralized applications (Dapps) and games.

After the Yuga Labs' Otherdeeds nonfungible token (NFT) minting occurrence happened three days ago, it prompted speculation about another chain for APE.

On Sunday, Yuga Labs, the makers of the Bored Ape Yacht Club NFT collection, opened the minting for Otherdeeds NFT land. The drop acquired overpowering help from its community, with an expected $300 million in sales. Regardless of this, the drop experienced a list of issues, for example, pushing ETH gas expenses to uncommon highs, which implied that clients paid around 2 to 5 ETH for gas.

Also, the crypto token apecoin (APE) and its exchanges during the deal, pushed ether gas expenses essentially higher during the metaverse deed sale.

The Bored Ape Yacht Club (BAYC) makers, Yuga Labs, 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, rather than a different Apecoin organization, the token based on Ethereum is presently incorporated with Polygon and an Apecoin DAO board member said there probably won't be a different Apecoin blockchain.

Apecoin DAO board member Yat Siu stressed: “no discussion was had either at the [Apecoin] board level or with any other parties (including [Yuga Labs]) of a possible apechain; this is a completely new idea to us.”



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Joyashree Dey

CBW - External Analyst

INDIA

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