Polygon Labs, led by Co-Founder Sandeep Nailwal, has presented an innovative proposal to the ApeCoin DAO community. The aim is to introduce ‘ApeChain,’ a dedicated Layer-2 (L2) solution powered by zero-knowledge technology. This proposal, as noted, holds immense potential for enhancing the ApeCoin ecosystem.
Polygon Labs’ Innovative Proposal: ApeChain zk-L2 Chain
The core of this proposal revolves around creating ‘ApeChain,’ a specialized zk-L2 chain that will be developed and maintained by an Implementation Partner. This partner boasts expertise in building Web3 infrastructure and tooling products, which ensures the chain’s robustness and reliability.
“ApeChain will provide the ApeCoin DAO with an efficient, secure, and decentralized execution environment upon which ApeCoin DAO projects can be built to help realize this mission,” Nailwal said.
However, the ApeCoin DAO might soon forge a strong partnership with Polygon Labs, leveraging their extensive experience and resources. This collaboration would facilitate seamless integration between ApeCoin’s ecosystem and Polygon’s vast network, driving innovation and growth.
As noted by Sandeep Nailwal, to fuel the growth of ApeCoin-integrated projects, including experiences, entertainment, games, and consumer applications, a development fund will be allocated from the ApeCoin DAO Treasury. This fund will also support ApeChain-related public goods like middleware and marketplaces.
However, the question of why ApeCoin needs its dedicated L2 solution is essential. Polygon’s co-founder maintains that ApeCoin is at a crucial juncture, and the introduction of ApeChain will provide a secure and efficient environment for ApeCoin DAO projects. It will offer compossibility and interoperability with Polygon solutions, priming the ApeCoin ecosystem for tremendous growth.
The Apecoin Community Raises Concerns
Some community and DAO members have raised concerns about the $200,000 annual expense. They question the need to pay Polygon when alternative chains like AVAX, Arbitrum, and Optimism are available. Additionally, concerns are raised about the management of ApeChain and its ability to attract users and builders.
A user, SmartAPE, an engineer and DAO member maintains that if the AIP passes and they end up with a $200K per year expense, who is going to run and manage it, and who is going to bring people to the chain and use the token? He questioned that,
“I don’t see any tangible immediate benefits in this AIP because at the end of the day, we would still need to get builders [to] use it. We can’t get them to build on it now, let alone to use our token; so how does our own L2 chain solve this problem?”