The results revealed that 53.62% of voters were in favor of ApeCoin (APE) staying on Ethereum.
Back in May, ApeCoin decentralized autonomous organization (DAO) issued a statement where the community had a chance to discuss the fate of the digital asset. During the ApeCoin improvement proposal (AIP) dubbed AIP-41, people expressed their opinion on whether ApeCoin should remain on the Ethereum ecosystem or simply move to another chain.
The discussion was fired up after the blockchain technology company Yuga Labs had implied on its Twitter account that ApeCoin should shift to its own chain to scale.
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However, one of the ApeCoin community members going by the nickname ASEC backfired at Yuga Labs and stated that for now, it shouldn’t move to another Layer-1 chain that is not backed by Ethereum (ETH). He continued:
“Migrating to a different chain is a costly, risky, and complex endeavor with many moving parts that may, if not thoughtfully considered, result in catastrophic loss, or at worst, abandonment by [project creator] Yuga Labs and other entities that would otherwise [be meaningful] to ApeCoin.”
On top of that, the debate saw participation from various individuals. For instance, an L2 rollup network Optimism, an L2 scaling solution for NFTs on ETH Immutable X, a ZK rollup solving ETH scalability Zksync, and Arbitrum One, a flagship L2 chain, agreed with ApeCoin's opinion to stay, whereas a smart contracts platform dubbed Avalanche advised the DAO to leave.
The poll was initiated on June 2 and concluded on June 8. 3.8 million people voted for the DAO to stay on Ethereum and 3.3 million voted for it to move to another chain, meaning that 53.62% of participants were in favor, whereas 46.38% against.
In the last 24 hours, the ERC-20 token ApeCoin (APE) managed to become one of the most traded digital assets among the top 5000 largest ETH addresses. Currently, the total trading volume sits at roughly $250M.
In other news, earlier in March, Snoop Dog and Whiz Kalifa Wiz Khalifa launched "a special project $APE COIN only" non-fungible token (NFT) collection, meaning that the digital assets will be sold only to holders of the APE token.
