ApeCoin Considering Evolving Into One Of These Two Ethereum Rivals

ApeCoin (ticker symbol: APE) appears to be making more moves, this time mulling expanding its reach to ecosystems outside Ethereum… 

According to a report, anonymous sources within ApeCoin state that the project ApeCoin is looking into migrating to either Avalanche or Flow Blockchain. ApeCoin is currently built on the biggest smart contract protocol around, Ethereum

  • The Ethereum-based ApeCoin — and direct descendent of the Bored Ape Yacht Club (BAYC) — is considering a move thanks to the “historic” amount of gas fees (100 million USD) spent on the project’s metaverse drop The Otherside.
  • Despite the high gas fees, and low fees on all its rivals, Ethereum still has by far the most active network. And that network appears to be willing to pay the gas fees. However, it precludes newcomers from the space.
  • According to the report, it doesn’t appear like ApeCoin is considering using any of the layer-2 solutions that Ethereum is cozy with like Polygon or Immutable-X.
  • Representatives from both Avalanche and Flow have said they’ve had some preliminary discussions with ApeCoin representatives. Avalanche is a smart contract protocol that’s focused on interoperability. Recenty its attracted projects like DeFi Kingdoms thanks to its focus on subnets. Flow is the platform responsible for some of the biggest NFT success stories like NBA TopShot and CryptoKitties.
  • Garga, co-founder of BAYC, outright denies the validity of the report: “Literally we (Yuga) have not talked to any of these people.” Not to mention, any proposal like this would have to be approved by the ApeCoin DAO. 
  • BAYC, which is now considered the biggest PFP collection around, was built on Ethereum, and very much exhibited the ETH ethos. Especially that of the ETH ICO millionaires — the project’s apes are supposed to be bored crypto success stories.

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