Several apecoin (APE) investors have voted against the proposal by the ApeCoin decentralized autonomous organization (DAO) that suggested staying on Ethereum (ETH), giving the majority support to migrating to another chain.
Dubbed ApeCoin Improvement Proposal (AIP) 41, despite the issues surrounding gas fees, the proposal has asked token holders to stay on Ethereum.
However, three ApeCoin whales who have submitted their ballots so far have voted against the proposal. Each submitting APE 404,000, APE 153,000, and APE 151,000, respectively, out of the supply of APE 1 billion.
One voted in favor of the proposal, with APE 150,000.
The whales voting against the proposal, as of now are the AIP 41 has nearly 53% of votes against and 47% in favor, indicating that majority is currently supporting a migration.
The voting started on June 3 and will end June 9.
On May 1 by ApeCoin DAO member ASEC, the proposal mentioned that “migrating to a different chain is a costly, risky, and complex endeavor with many moving parts that may, if not thoughtfully considered, result in catastrophic loss, or at worst, abandonment by [project creator] Yuga Labs and other entities that would otherwise [be meaningful] to ApeCoin.”
The proposal came as a result to a suggestion by Yuga Labs, the parent company behind the popular non-fungible token (NFT) collection Bored Ape Yacht Club, that said ApeCoin should migrate to its own chain for scaling purposes after the Otherdeed mint clogged the Ethereum mainnet.
“We’re sorry for turning off the lights on Ethereum for a while,” Yuga Labs said at the time, adding: “It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We’d like to encourage the DAO to start thinking in this direction.”
Meanwhile, a look at the comments by the community on the forum indicates that majority of users support staying on Ethereum.
“I highly agree with your sentiment that we should NOT migrate from the Ethereum chain as that give us the best security and liquidity ESPECIALLY with ETH 2.0 coming in the future,” one user said in response to ASEC.
0 Comments