BlocksInform
ApeCoin DAO, a governance system serving the democratic rights of ApeCoin holders — a digital asset tied to the Bored Ape Yacht Club ecosystem — published an official proposal on May 2 to debate whether the asset should remain on Ethereum, transition to a layer-2 alternative, or perhaps explore the possibility of chain migration.
The apecoin (aip) enhancement proposal titled "aip-41: keep apecoin within the ethereum ecosystem," was written by bayc 2491, said asec, it was based on a number of incidents, including cloudy mint, and the subsequent reaction in the yuga laboratories.
The disastrous consequences of the sale of other metavers by yuga labs have scrutinized the financial limitations of ethereum's gas royalty mechanics, and encouraged key members of the apecoin community to voice their concerns regarding the apecoin fixed procurement contract, and evolutionary potential.
The massive deflation of gas wars, and lack of inclusiveness or financial integrity, was then further exacerbated by yuga labs' little-calculated tweet insisting that "it seems very clear that apecoin will need to migrate to its own chain in order to scale up well", and that "we would like to encourage the cao to start thinking in this direction".
Despite a heartfelt suggestion by yuga labs, aip-41 has been an ardent advocate for migration from ethereum, declaring that "such a decision is currently too complicated and costly to take", and potentially damage their deeply rooted presence on the network with the largest volume and cultural adoption of etfs.
We, apecoin dao, believe in this, at least so far, apecoin should stay with the ethereum ecosystem, and do not migrate to a l1 chain or side chain not secured by ethereum."
The total votes of the proposal equated to 3.8 million for and 3.3 million against – a 53.59% split. This result is not completely definitive and can be the subject of a new deliberation when submitting new proposals within a grace period of three months.
