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Board members of Yuga Labs and ApeCoin DAO are looking at proposals to migrate ApeCoin out from Ethereum after the public debut of its “Otherside” metaverse project causing historic gas fees.
Source: Coindesk
APE is up 0.73%, while ETH is up 1.65%.
Executives of firms behind both networks have reported that suitors include Avalanche and Flow, which consider themselves to be more in line for hosting a non-fungible token ecosystem such as the one being developed by Yuga.
Yuga earlier alluded to a potential transfer of ApeCoin on a Twitter thread on April 30, calling on the decentralized autonomous organization to consider such a possibility moving forward.
A source close to the matter said the tweet drove discussions about the DAO’s potential move, but the board is not actively looking for new chains as it did not consider any migration prior to the post.
Yuga Labs has yet to comment on the matter.
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