POLY

Polygon Co-founder Proposes Building Exclusive L2 ApeChain on ApeCoin DAO Forum

by BSC News

October 11, 2023

chain

The ApeChain project encompasses the development and maintenance of a dedicated ApeCoin zk-L2 chain, ecosystem collaboration with Polygon Labs.

Polygon Co-founder Charts New Territory

Polygon Co-founder Sandeep Nailwal introduced a proposal on the ApeCoin DAO forum on Oct. 10 that aims to collaborate on creating an exclusive Layer 2 (L2) solution called 'ApeChain,' leveraging zero-knowledge technology. Let's delve into the details of this groundbreaking initiative.

The proposal comprises several key components essential for the project's success.

  • ApeCoin zk-L2 Chain (ApeChain): The project proposes developing and maintaining a dedicated ApeCoin zk-L2 chain, aptly named "ApeChain." This specialized chain will be constructed and upheld by an implementation partner experienced in building Web3 infrastructure and tooling products.
  • Ecosystem Collaboration with Polygon Labs: This collaboration aims to tap into Polygon's expertise and resources, fostering innovation and seamless integration of ApeCoin's ecosystem with Polygon's expansive network.
  • Development Fund: The ApeCoin DAO Treasury will allocate a development fund to support ApeCoin-integrated projects, including experiences, entertainment, games, and consumer applications, as well as ApeChain-related public goods like middleware and marketplaces.

Web3 Adoption and the Role of Polygon

The proposal underscores the ongoing mainstream adoption of blockchain technology and the rise of the Web3 ecosystem. Notably, Polygon Architecture has played a pivotal role in extending blockchain capabilities to "Internet-scale" across various industries and use cases. 

In addition to gaming, loyalty rewards, digital avatars, self-expression, and Web3-native applications such as DeFi and the open metaverse, Polygon's architecture has been instrumental in advancing firms like Starbucks, Square Enix, L'Oreal, etc. Besides proposing ApeCoin DAO, Sandeep Nailwal has also recently presented in Celo's governance forum to propose Polygon's CDK for the new Ethereum layer 2, abandoning original plans to use OP stack.

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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