ApeCoin’s Otherside metaverse project should be moved to Avalanche

Avalanche wants to be the new home for ApeCoin DAO's APE token and its Otherside metaverse project, according to a proposal submitted by the L 1 platform.

The Otherside metaverse project should be launched on an Avalanche subnet because it will help the ApeCoin community achieve its goal of cheaper gas fees and faster network speed.

Ava labs, the parent of the blockchain, said it would support the ApeCoin subnet across various fields, like educating the APE community about subnets and providing DAO access to its Multiverse incentive program, which is worth $290 million, and even helping with new hirings.

Emin G n Sirer, founder of Ava Labs, said the coin will have an additional use case that will help its market and regulatory stance, as a result of ApeCoin's migration to Avalanche. Avalanche submitted that it was proposing because the overall success of ApeCoin DAO depends on the success of Web 3. It said that implementing its practical solution would lead to the adoption of all of Web 3, which would inadvertently revolutionize the industry.

The proposal came less than a month after Yuga Labs suggested that ApeCoin needed to migrate to its own chain to scale properly. The migration was due to the controversies its Otherside metaverse project had generated after clogging the Ethereum network, leading to millions being paid as transaction fees.

Avalanche's proposal has generated various reactions in the community.

Polynya, a popular researcher, called the proposal a terrible solution, with another Twitter user, Swagtimus, saying nobody wants to move their money onEthereum, and rollups are superior. A comment on Avalanche s forum from Punk 2513 says that an Avalanche subnet is best for APE because transaction fees would be paid in Ape, plus ApeCoin and other benefits would power the smart contract.