Implementation Update | AIP-378: ApeChain Bid // ApeChain Developed with Arbitrum Technology with Growth Led by Horizen Labs

AIP Name: AIP-378: ApeChain Bid // ApeChain Developed with Arbitrum Technology with Growth Led by Horizen Labs

Implementation Status: Pending

Author: @ninarong

Abstract Summary: The ApeCoin community is highly engaged in the discussion of launching its own dedicated chain. We have been excited to see the community rally around this idea and agree that launching ApeChain would substantially increase ApeCoin DAO’s value proposition while also creating new revenue opportunities for the DAO.

We are motivated to build ApeChain as an Arbitrum Orbit chain developed with AnyTrust technology that uses $APE as the native gas token and request that ApeCoin DAO provide:

  1. Branding Authorization

    • The permission to use the phrase “powered by ApeCoin,” as well as all relevant APE marks, for the branding of ApeChain.
  2. Governance Oversight

    • The ApeCoin DAO to serve as the primary governing body for ApeChain.

In short, we have identified the following as key characteristics for ApeChain that we recommend the ApeCoin DAO should prioritize:

  1. $APE as the native gas token

    • ApeChain will be an extension of the Ape community and will quickly become a cornerstone of the Ape brand. Naturally, this means that ApeChain should leverage $APE as the native gas token.
  2. Attractive for a wide range of use cases, with a primary focus on gaming

    • If ApeChain wishes to house the next generation of consumer-facing applications and games, it must provide a stellar user experience - that begins with low fees and fast transactions.
    • Yuga Labs is publicly leaning into gaming as a primary vertical for its strategy, including bringing on new partners (1) and setting up dedicated communication channels for its gaming efforts (2). With ApeChain, the DAO should seek to create a natural home for its ecosystem.
  3. Remain aligned with Ethereum

    • BAYC, MAYC and the broader APE community are a driving force within the Ethereum NFT ecosystem and should seek to retain that alignment.

Overall Cost: No Cost

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