Following one of the largest non-fungible token (NFT) mints in history and after apecoin transactions from the sale fueled Ethereum network fees, apecoin is now integrated with the Polygon (MATIC) network. On May 2, the Apecoin project announced that with Polygon support, APE is now available via MATIC’s 19,000 decentralized applications (dapps) and games.
Apecoin is now supported by Polygon, Apecoin DAO Board Member Says Separate Apecoin Network Proposal Should Use AIP-1 Process
Three days ago, Bitcoin.com News reported on the Otherside metaverse land sale centered on Bored Ape Yacht Club, which was the largest NFT collection by sales in the past seven days.
Week-long statistics from cryptoslam.io show Otherdeed has seen $721,337,124 in sales to date. Moreover, the crypto token apecoin (APE) and its transactions during the sale, pushed ether gas fees significantly higher during the metaverse deed sale.
The creators of the Bored Ape Yacht Club (BAYC), Yuga Labs, mentioned at the time when it “seems quite clear that Apecoin will have to migrate to its own chain to scale properly”. However, instead of a separate Apecoin network, the token built on Ethereum is now integrated with Polygon and an Apecoin DAO board member said there might not be a separate Apecoin blockchain.
Apecoin DAO board member Yat Siu stressed: “no discussion was had either at the [Apecoin] board level or with any other parties (including [Yuga Labs]) of a possible apechain; this is a completely new idea to us.” Yat Siu further added:
As with everything [Apecoin] DAO initiatives, any decision to consider building a chain can only be made with the consent of the [Apecoin] community through [AIP-1: DAO proposal process]. Various L1 and L2 have signaled that they will submit a proposal to the DAO. All proposals received will go through the standardized governance process outlined on the official website.
Apecoin Taps an All-Time Price High, Apecoin DAO Board Member Mentions Animoca Brands’ Stake in Apecoin Projects
The Polygon integration also follows apecoin’s recent all-time price high on April 28, 2022, six days ago. APE tapped an all-time high against the U.S. dollar at $26.70 per unit and APE is down 42% since then. Despite the weekly drawdown, APE is up 24% during the last 30 days and it holds the 32nd largest market cap among 13,388 cryptocurrencies in existence.
At the time of writing, the market valuation of APE is $4.35 billion and the coin has recorded a 24-hour trading volume of $2.58 billion. The APE market capitalization is 0.23% of the $1.84 trillion crypto-economy this week. Apecoin DAO board member Yat Siu also clarified that Animoca Brands is an investor in many Apecoin-related L1s or L2s.
“[Animoca Brands] as a significant investor in many L1 or L2s will also not be voting on any decisions of potential L1 & and L2 collaborations in which it has a material stake,” the Apecoin DAO board member concluded. Presently, there are 3.9K Apecoin DAO members involved with the governance process, according to apecoin.com stats.
