Avalanche proposes the Otherside metaverse should build its own subnet - Aliens: AI Crypto News & Markets Updates
Logo
Logo

Feed

Coins

About

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

Avalanche proposes the Otherside metaverse should build its own subnet

PublisherPublisher
The Block

Wed, May 25, 2022

Banner

Aliens TLDR

The Avalanche core team has submitted a proposal idea to the ApeCoin DAO, suggesting that the Otherside metaverse should migrate to the Avalanche blockchain.

The ApeCoin DAO is the governance body of ApeCoin, an Ethereum token used within Yuga Labs’ forthcoming Otherside metaverse and the Bored Ape Yacht Club NFT collection.

Last month, Yuga Labs, a key contributor of ApeCoin DAO, complained about Ethereum’s network congestion and rocketing gas fees during the mint sale of its Otherside metaverse land NFTs. It expressed interest in having its own blockchain to meet scalability demands.

With Yuga Labs looking to develop its own blockchain, Avalanche has formally pitched to the ApeCoin DAO about a possible migration.

"We propose that ApeCoin DAO launches Otherside on an Avalanche subnet to support Otherside’s future community growth through rapid transaction processing, higher throughput, greater ability to scale and lower gas fees," Avalanche said in its pitch.

Emin Gün Sirer, CEO of Ava Labs, which is the core development firm behind Avalanche, confirmed his team’s interest in the proposal in trying to persuade ApeCoin DAO.

The Avalanche team recommended that ApeCoin DAO should consider deploying as a metaverse and NFT-centric Avalanche subnet.

Many members argued that the ApeCoin DAO should remain part of the Ethereum blockchain and focus on achieving scalability with the available Layer 2 scaling solutions, rather than moving to a separate network.

There is even another proposal from one member asking the ApeCoin DAO to remain on Ethereum.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

Litecoin falls beneath a bullish order block, could $40 be next target

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. Just a week ago, Litecoin [LTC] rallied to the $61 level but faced rejection there. This was a bearish development, especially for long-term investors. The market structure continued to remain bearish, and […]
AMB Crypto
·

Jul 3

Altcoin

Recommended Stories

Article

AAVE traders have this in store for coming days after bearish pennant’s…

Article

Assessing the odds of The Sandbox [SAND] falling below $1 mark

Article

Axie Infinity: Risk would be to buy range lows with a stop-loss at…

Article

Stellar: Factors that didn’t play in favor of XLM’s rally despite…

Article

Bitcoin, Ethereum and Altcoins Present Signs of Incoming Price Turnaround; Here’s When

Article

BTC, SOL and AVAX Price Analysis for July 2

Article

3 Reasons Why Bitcoin Might Retrace in Upcoming Week and Reach $22,000

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise