ApeCoin Community Votes to Keep APE Token on Ethereum

APE Token on Ethereum

The ApeCoin community has forwarded a proposal to have the APE token remain in the Ethereum network, with 99.95% of users voting in favor.

The Proposal in API-41 is still at the voting stage and is expected to be concluded on June 9th at 4 am.

The community maintains that there are negative consequences in moving the platform away from the Ethereum network, including risks, cost, and complexity.

The proposal adds that the migration will mean moving away from the original assets tied to Yuga Labs NFTs that inspired the development of APE. They argue that the migration will result in Yuga Labs not supporting or using ApeCoin in collaboration with the NFTs like Bored Apes, Mutant Apes, or Otherside Deeds.

ApeCoin community says that the migration is unnecessary since few projects were moving away from Ethereum, which has proven to be a preferred home for the largest collected ecosystem of NFT projects.

Source: Snapshot

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