- Polygon Labs offers ApeCoin DAO $3 million and maintenance support to launch ApeChain on their Ethereum Layer 2 ecosystem.
- ApeCoin community remains divided on the proposal due to concerns about Polygon Labs’ communication and claims.
Polygon Labs, the team behind the Polygon Chain Development Kit (CDK), has extended a revised proposal to the ApeCoin DAO to bring the ApeChain project to life on their Ethereum Layer 2 ecosystem. After an initial rejection by the DAO, Polygon Labs is now sweetening the deal with substantial financial incentives and support.
Polygon Labs’ revised proposal, submitted on Friday, January 12, 2024, addresses concerns raised by the ApeCoin community regarding the cost implications of their initial offer. The community had voiced apprehensions about a $200,000 annual maintenance cost and the need to create a treasury to incentivize ecosystem development and support.
Members of @apecoin DAO,
Building a chain with Polygon CDK means joining an ecosystem of ZK L2s, all benefiting from unified liquidity with extended blockspace, while remaining maximally secure.
ApeChain, powered by Polygon CDK (it has a nice ring to it, just saying)
— Polygon (Labs) (@0xPolygonLabs) February 2, 2024
To alleviate these concerns, Polygon Labs has made a significant commitment. They have pledged to cover ApeChain’s maintenance expenses for the first three years through the rollup as a service provider, Gateway.fm. Additionally, they will provide three years of block explorer maintenance through OKX’s OKLink. Furthermore, Polygon Labs is offering a substantial $3 million fund for ecosystem development, which will be managed by the ApeCoin DAO Foundation.
The ApeCoin DAO Foundation will play a pivotal role in utilizing the $3 million fund to stimulate the growth of projects and public goods on the proposed Ethereum Layer 2 chain launched with the CDK. This funding aims to create a vibrant and thriving ecosystem around ApeChain, enhancing its appeal to developers and users.
Despite the generous financial incentives put forward by Polygon Labs, the ApeCoin community’s response to the proposal appears divided. Some members have expressed reservations and skepticism towards Polygon Labs’ claims.
A noteworthy point of contention revolves around Polygon Labs’ assertion that their proposal had won a “non-conflicted” community vote. This claim has sparked criticism, with some community members viewing it as baseless and confrontational.
Indie game developer Derek Smart, among the critics, while acknowledging the proposal as “great,” believes that Polygon Labs’ communication approach might be counterproductive. He suggests that the antagonistic rhetoric used by Polygon Labs could potentially hinder their chances of winning the ApeChain bid.
The Path Forward
The revised proposal from Polygon Labs presents a unique opportunity for the ApeCoin DAO and the broader crypto community. ApeChain, powered by Polygon’s Layer 2 technology, could provide a valuable solution for scaling Ethereum and enhancing blockchain interoperability. The generous financial incentives offered by Polygon Labs, if accepted, could drive rapid development and adoption of the ApeChain ecosystem.
However, the fate of this collaboration remains uncertain as the ApeCoin community grapples with concerns over the veracity of Polygon Labs’ claims and the overall direction of the project. The decision will ultimately rest in the hands of the ApeCoin DAO, and whether the revised proposal will be enough to sway the votes in Polygon Labs’ favor remains to be seen.
Additionally, Polygon CDK has seen significant adoption across the blockchain space. Prominent projects like X1 (built by OKX), Immutable zkEVM, NEAR zkWASM, Gnosis Pay, Capx, and more have embraced Polygon CDK for its scalability and security benefits. The CDK’s flexibility in scaling Ethereum while maintaining security has made it a popular choice for blockchain projects.