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Polygon and ApeCoin (APE) are rolling out a new venture for the DAO community. Sandeep Nailwal, co-founder of Polygon Labs, has put forward a proposition for a new layer.
This proposal includes the idea of implementing ApeChain, which is known as a private Layer-2 (L2) chain based on zero-knowledge (zk) technology, also aimed at supporting the collaboration between the ApeCoin community and Polygon Labs.
According to the proposal, the development and maintenance of this chain will become a joint effort with ApeCoin DAO and an application partner that creates Web3 infrastructure and tool products. Also, the proposal includes collaboration with Polygon Labs in the ecosystem.
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According to the proposal shared by the founder, the ApeCoin cryptocurrency community has long considered the need to transition to its own chain to meet ApeCoin’s scalability needs. This idea was first proposed by Yuga Labs about 18 months ago, and ApeCoin DAO decided to keep ApeCoin within the Ethereum ecosystem.
The ApeChain development team plans to create ApeChain using the Polygon Chain Development Kit (CDK), also an open-source toolkit enabling developers to smoothly launch their zk-backed Layer 2 solutions on Ethereum, pending prior approval. Upon approval, the development team will proceed to enact the proposal.
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