Sunday, November 27, 2022
HomeEthereumNFT'sApeCoin now on Polygon amid NFT mint controversy

ApeCoin now on Polygon amid NFT mint controversy

Polygon, a Layer 2 scaling platform for applications, now supports ApeCoin, enabling more than 19,000 decentralized applications (dApps) and games to use it.

APECoin DAO board member Yat Siu stated that there are currently “no discussions” about an exclusive chain for APE.

After the recent Yuga Labs’ Otherdeeds nonfungible token (NFT) minting incident that led to speculation on a new chain for APE, APE (APE) announced its integration with Ethereum (ETH) sidechain Polygon.

Yuga Labs, the creators of the Bored Ape Yacht Club NFT collection, opened the minting of Otherdeeds NFT land on Sunday. With an estimated $300 million in sales, the drop gained overwhelming support from its community. However, the drop was not without its problems, such as pushing up ETH gas fees to unprecedented levels, making users pay about 2 to 5 ETH for gas.

Users who failed to mint NFTs but still paid ETH gas fees were outraged and complained on Twitter. Some even tweeted that they were pulling out of APE investments as a result.

As Yuga Labs promised to refund the gas, some users speculated that the failure was a marketing ploy to highlight a problem, then promote a new chain for APE.

Yat Siu, a board member of ApeCoin DAO, clarified that this was not the case. Siu noted that although Yuga Labs encourages the DAO to migrate to a new chain, there has been no discussion among board members of the DAO or with other parties regarding an APE chain.

RELATED ARTICLES

Most Popular

Recent Comments