Avalanche needs another side to lift the ethereum subnet

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Avalanche has submitted a proposal to ApeCoin DAO to help it run another Metaverse on its own custom subnet. According to Avalanche, moving the other side to the Avalanche Subnet will allow it to grow the project and provide a better service for the APE token. Many community members opposed the idea, suggesting that ApeCoin should instead look to Layer 2 solutions on Ethereum.

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Avalanche has submitted a proposal for the ApeCoin DAO that suggests it will migrate the APE token to another location and build another Metaverse on the Avalanche Subnet.

Avalanche suggests the persecution of others

Avalanche invites ApeCoin DAO to migrate to blockchain.

It features a Layer 1 blockchain that has grown to become the 13th largest cryptocurrency by market capitalization and the fourth largest DeFi ecosystem. Proposal The ApeCoin DAO management platform invites the organization to build the Metaverse Otherside on the Avalanche subnet.

“We propose that ApeCoin DAO Otherside will launch on the Avalanche Subnet to support the future community development of Otherside with faster transaction processing, higher resource availability, higher scalability, and gas payments,” the proposal states.

The move came on Tuesday night, less than a month after Yuga Labs, the company behind the popular Bored Up Yacht Club NFT suite and the Otherside Metaverse project, hinted that Apeco may be moving away from Ethereum and onto its own blockchain. On April 30, the company entered over. 310 million dollars Sale of land from the sulles Biggest NFT crash to date. However, due to the inefficient smart contract that governs the process, the sale cost more than $177 million in gas fees, temporarily shutting down Ethereum and prompting a backlash from the community.

In a bid to cool the anger on A broken starter, Yuga Labs took to Twitter to apologize for temporarily “turning off the lights on Ethereum” and suggested that the project move to its own chain. The company at tweet storm.

Seeking possible solutions with Yuga Labs, Avalanche has officially proposed moving the project to its own custom Avalanche Subnet to support the ApeCoin DAO. It allows projects to create their own individual blockchains by staking Avalanche's AVAX token.

According to the proposal, “ApeCoin Subnet will significantly increase the speed to the end by reducing the gas fees, allowing for a better user experience for the other side metaverse. It also “allows for unprecedented flexibility with gas fees paid in APE, which collects value for the ApeCoin subnet and APE holders. Sharing his thoughts on Twitter, Avalanche Labs founder and CEO Emin Gun Sr. he said. “ApeCoin will be fantastic as an Avalanche subnet,” he added, adding more use cases for the APE token (such as being used to pay gas bills) that would improve its market and regulatory position.

However, the proposal remains divisive. A popular blockchain researcher goes by the name Pollynia on Twitter. he said. The proposal was a “clearly terrible solution,” and Avalanche described subnets as “outdated tech” compared to Ethereum-scale solutions like fractal rollups or volitions. Several community members who discussed the proposal on the governance forum shared their concerns, while others suggested that they stay on Ethereum and instead explore Lab2 solutions on the crypto's advanced smart contract blockchain. “I don't agree. We shouldn't leave Ethereum. We need to find an L2 solution on Ethereum. The most “liked” comment in the discussion thread will be read.

Another posted on the forum he said. The ApeCoin DAO has nothing to do with the other side's project and therefore cannot decide on a potential migration even if it wanted to. “[Otherside] It's a Yuga project and it's not in the interest of this DAO to decide which technology they will or won't use, they wrote.

Yuga Labs and Animoka Brands, the two companies behind the Otherside project, have yet to publicly share any thoughts on the Avalanche idea.

Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.

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