Avalanche invited ApeCoin DAO to subnet the Otherside metaverse
This Monday, Avalanche (AVAX) submitted a proposal to the ApeCoin DAO forum to convince the community to subnet the Otherside. ApeCoin DAO is the ultimate ApeCoin token (APE) management entity, and Others are the metaverse of Yuga Labsusing APE as its currency.
ApeCoin will be unique as a subnet of Avalanche, and will benefit from greater performance in its dedicated chain of the fastest consensus protocols. And the coin has an additional use case that will help its market and regulatory stance.https: //t.co/UxI2eo3vx9
– Emin Gün Sirer🔺 (@el33th4xor) May 24, 2022
Subnets are a set of blockchains, that is comprising the Avalanche ecosystem. By compartmentalizing network flows, they allow great scalability and thus ensure fast execution of transactions. Ava Labs, the entity that developed Avalanche, also pledged to the ApeCoin community technical support for setting up this subnet.
Such migration would also allow the project to qualify for the Multiverse funding program, which allocates $ 290 million to develop subnets.
This change can also cause a severe reduction in transaction costs. Others also completely squeezed the Ethereum (ETH) network at the time of the sale of its lots. The event raised the cost of a transaction to several thousand dollars on the night of April 30 to May 1.
👉 To proceed – Find our guide to the Bored Ape Yatch Club (BAYC) APE token
An invitation that may never happen
The possibility of the Otherside and the ApeCoin community joining the Avalanche ecosystem is interesting, but there is nothing of an old conclusion. First, Otherside was created by Yuga Labs, hence ApeCoin DAO can only affect the life of the signwhich is just one of the many components of this metaverse.
In addition, part of the community strongly opposes the integration of a subnet and prefers to move to a different layer 2 solution in the Ethereum blockchain. Some, on the contrary, believe that the idea is reasonable and that paying the APE network fee on a subnet will increase the value of the token.
Currently, opinions are therefore shared on the ApeCoin DAO forum. This proposal is only available at the discussion stage and to each member of the community bring your point of view.
Either way, this is generating an interesting thought, as play-to-earn and various blockchain solutions grow. In fact, we see it here a political gamewhere each ecosystem will try to attract potential hits to its network.
👉 Involved – Land in the Otherside metaverse sold for $ 1.6 million
Source: ApeCoin Forum
Newsletter
Get a crypto news recap every Sunday 👌 And that’s it.
What you need to know about affiliate links. This page presents properties, products or services related to investments. Some links in this article are included. This means that if you buy a product or register a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. It has no effect on you and you can still get a bonus by using our links.
Investing in cryptocurrencies is risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be responsible, directly or indirectly, for any damage or loss caused after the use of a good or service featured in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and invest only within the limits of their financial capability. This article does not contain investment advice.
About the Author: Vincent Mayor
I was embarrassed to discover the world of the blockchain at the end of 2018 during my search for financial freedom. Initially invested in moderation, it was only two years ago that I gambled betting on everything in the movement that had formed before. I dedicate 2021 to training myself better to gain more knowledge and seriousness. As I’ve always wanted to say: I still have a billion things to learn. And what I know, I want to share with you.
All articles by Vincent Maire.