ApeCoin (APE) introduced its integration with Ethereum (ETH) sidechain Polygon after the current Yuga Labs’ Otherdeeds nonfungible token (NFT) minting incident that led to hypothesis on a brand new chain for APE.
One of many world’s largest Web3 ecosystems, @0xPolygon now helps ApeCoin making it obtainable for 19,000+ dApps and video games throughout the board! https://t.co/vUoGTAfqkl
— ApeCoin (@apecoin) May 2, 2022
On Sunday, Yuga Labs, the creators of the Bored Ape Yacht Membership NFT assortment, opened the minting for Otherdeeds NFT land. The drop gained overwhelming assist from its neighborhood, with an estimated $300 million in gross sales. Regardless of this, the drop encountered an inventory of points equivalent to pushing ETH gasoline charges to unprecedented highs, making customers pay round 2 to five ETH for gasoline.
Due to this, customers that did not mint NFTs however nonetheless paid ETH gasoline charges have been outraged and expressed their frustration by way of Twitter, with some even tweeting that they’re pulling out of their APE-related investments.
Whereas Yuga Labs promised to refund their gasoline, some customers began to take a position that the failure was a deliberate advertising and marketing stunt, highlighting an issue, then asserting a brand new chain for APE. Nonetheless, an ApeCoin decentralized autonomous group (DAO) consultant denies this.
ApeCoin DAO Board Member Yat Siu clarified that this isn’t the case. Whereas Yuga Labs encourages the DAO to consider migrating to a brand new chain, Siu famous that there was no dialogue among the many DAO’s board members nor with different events about the potential for an APE chain.
Regardless of the clarification, some are usually not satisfied and are nonetheless sad in regards to the outcomes of the occasion. Twitter person MetaMan stated that the facilitators of the occasion ought to merely admit that they tousled and that it was a foul concept.
I fail to grasp how this gives readability. Reads like additional obfuscation.
Why can’t Yuga admit what everybody within the house is aware of — they tousled, the sensible contract wasn’t optimized, the KYC free-for-all was a foul concept, the preliminary response blaming Ethereum was absurd.— MetaMan (@metamanog) May 3, 2022
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The occasion additionally led to the burning of 55,817.39 ETH ($158 million) placing the Otherdeed NFTs on the high of the ETH 7-day burn leaderboard and pushing Ethereum community burn to a brand new all-time excessive of 70,000 ETH.
