ApeCoin Stays on Ethereum

June 10 2022
Bored Ape NFT

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.
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