Polygon Labs co-founder Sandeep Nailwal proposed a new initiative on the ApeCoin (APE) DAO forum.
The proposal aims to support collaboration between the ApeCoin community and Polygon Labs to create a private Layer-2 (L2) chain based on zero-knowledge (zk) technology, known as ApeChain.
According to the proposal, the development and maintenance of the chain will be a joint venture between the ApeCoin DAO and an implementation partner that creates Web3 infrastructure and tooling products. The proposal also includes ecosystem collaboration with Polygon Labs.
According to the statements in the proposal shared by the founder, the ApeCoin cryptocurrency community has long been aware that ApeCoin should switch to its own chain for proper scalability. This was first proposed by Yuga Labs about 18 months ago. ApeCoin DAO had voted to keep ApeCoin within the Ethereum ecosystem.
The proposed ApeChain, if approved, will be developed using the Polygon Chain Development Kit (CDK), an open-source toolset that developers can use to launch their own zk-powered layer two solutions on Ethereum with little hassle and an emphasis on modularity.
*This is not investment advice.