- Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain.
- Apechain will utilize APE as its utility and gas tokens, fostering the expansion of the token’s reach.
- The platforms shared their enthusiasm for the new development while the community accepted the proposal.
In a bid to expand the utility and reach of APE coin, Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain. In a recent revelation, the blockchain platform, Offchain Labs, unearthed the community’s acceptance of the Apechain development proposal, indicated by a more than 50% support rate.
Congratulations to @apecoin DAO on its decision to develop ApeChain utilizing the Arbitrum tech stack!With $APE serving as both the gas and governance token for ApeChain, Arbitrum Orbit's customizability empowers @ApeCoin DAO with true ownership and control over this…
— Offchain Labs (@OffchainLabs) February 15, 2024
In December 2023, Apechain put forward a proposal to develop Apechain using Arbitrum, with the web3 development company Horizen Labs assisting. The Propos…
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