A group proposal to maintain ApeCoin APE/USD on the Ethereum ETH/USD blockchain has taken a stunning flip over the weekend.
What Occurred: On June 3, ApeCoin group member ASEC put forth the AIP-41 proposal to maintain APE throughout the Ethereum ecosystem.
“Yuga Labs said in a tweet that they believed ApeCoin wanted to maneuver to its personal chain to be able to scale. We the ApeCoin DAO imagine that, at the very least in the meanwhile, ApeCoin ought to stay throughout the Ethereum ecosystem, and never migrate elsewhere to an L1 chain or sidechain not secured by Ethereum,” said the proposal.
“Whereas fuel prices and transaction speeds could also be a priority for some with Ethereum, particularly when contemplating a need to develop the ApeCoin ecosystem, shifting it away from the Ethereum ecosystem is neither needed, however doubtlessly detrimental to ApeCoin holders, and the pursuits of the DAO.”
See Additionally: WHAT IS A DAO?
As of Saturday night, Decrypt reported that greater than 91% of APE holders voted in favor of the proposal whereas simply 9% have been in favor of migrating to a distinct blockchain.
Nevertheless, as of Monday morning, the votes had flipped in favor of leaving Ethereum.
On the time of writing, 52% of the votes have been in opposition to the proposal whereas 47% have been in favor of it. Voting will finish on June 9, after which any proposals emigrate from Ethereum won’t be admissible if efficiently handed.
Value Motion: In keeping with knowledge from Benzinga Pro, at press time, ETH was buying and selling at $1,876, up 4.5% within the final 24 hours. APE was buying and selling at $6.53, up 4.3% over the identical interval.