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The ApeCoin Community has indicated their inclination to remain within the Ethereum network rather than transferring to another chain.
Source: Snapshot
APE is down 5.86%, ETH is down 2.71%, and AVAX is down 6.24%.
The ApeCoin decentralized autonomous organization has proposed to keep ApeCoin within the Ethereum ecosystem “at least for the time being” and not shift to an L1 chain or sidechain not secured by Ethereum.
The proposal has so far secured 99.66% of votes in favor of keeping ApeCoin within the Ethereum ecosystem at the time of writing, equivalent to 348,000 APE. The remaining 0.34% or 1,200 APE voted against.
Voting for the proposal started on Friday and will last on June 9. This is in response to a proposal of Yuga Labs to move to Avalanche in a bid to boost scalability.
According to the ApeCoin DAO, migration could come with issues such as costs, risks, and other unseen circumstances. Choosing not to migrate could lead Yuga Labs to drop support for the platform.
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