Community members of ApeCoin have voted to keep the asset on the Ethereum network. The vote was a matter that was many days in the making, spurred by high gas prices due to the minting of Otherside Deeds.
In a nutshell:
Cost, security and complexity were the main reasons for the way the proposal panned out.
54% of the community voted in favor of staying on Ethereum.
Most large holders voted to switch to another network.
What it means:
ApeCoin will not be switching to another network for at least 3 months, as such proposals are on a grace period of 3 months. ApeCoin could still move to a layer 2 blockchain on Ethereum.