ApeCoin DAO and Yuga Labs are apparently in discussions with Ava Labs and Flow Foundation about moving away from Ethereum.
Following Yuga Labs’ failed Otherside mint on Ethereum, the developer of the Bored Ape Yacht Club and ApeCoin DAO seems to be serious about exploring alternate blockchain options.
According to an anonymous source familiar with the matter, the ApeCoin Foundation’s board of directors, which includes Animoca Brands chairman Yat Siu, FTX head of gaming Amy Wu, and Reddit co-founder Alex Ohanian, had not actively considered exploring blockchains other than Ethereum until after its Otherside virtual land sale.
As users rushed to mint Otherdeeds NFTs, the in-demand drop triggered a huge network clog, highlighting Ethereum’s long-discussed scalability issues. Some consumers paid more than $7,000 in transaction fees alone, totaling more than $100 million in fees. Many transactions were unsuccessful, but Yuga Labs has subsequently compensated individuals impacted.
Yuga Labs admitted the issues in a tweet on May 1st, soon after the mint sold out, stating it was “abundantly clear that ApeCoin will need to migrate to its own chain in order to effectively expand.” It also said it would “encourage the DAO to consider this approach.”
According to the anonymous source, Ava Labs and the Flow Foundation were in immediate communication with Yuga Labs, although one of its co-founders, Greg Solano, also known as Garga.eth, has subsequently rejected this claim.
