ApeCoin DAO believes there is no need to migrate to the new chain
- community doesn’t think so
- migration issues
The ApkCoin offering was an absolute disaster for the Ethereum network, which experienced massive issues with network congestion following a flurry of transactions on the network, leading to a more than tenfold increase in transaction fees. Later, the developers of APE made a migration proposal.
community doesn’t think so
As polling shows, the community is not in favor of moving from Ethereum to another chain. Currently, 99% of all voters want to keep the coin on the ETH chain, without worrying about transferring their funds on a chain that will be developed separately and there may be some unforeseen issues with the functioning.
Right after the offering, Era Labs told the community that they believe that Appcoin needs to go on their chain for proper scalping as Ethereum has caused a lot of problems for investors and potential buyers who need to be highly Was turned away due to high fees.
The ApeCoin DAO said that they don’t think ApeCoin needs a separate chain now and then. APE will be able to function and grow within the Ethereum ecosystem without having to migrate to another L1 chain.
The main problem with creating a separate L1 chain is compatibility with other chains and potential technical issues that may occur as the BAYC developer has not yet had any experience in building their chain and an ecosystem around it.
Following the coin offering, some users suggested that the problem was not the Ethereum chain, but rather a flawed design of a smart contract, which caused network congestion and the resulting increase in transaction fees on Ethereum.
At press time, the APE is trading at $6.15.