Horizen Labs, Offchain Labs, and Arbitrum Foundation Develop Apechain

• Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain.
• Apechain will utilize APE as its utility and gas tokens, fostering the expansion of the token’s reach.
• The platforms shared their enthusiasm for the new development while the community accepted the proposal.

In a bid to expand the utility and reach of APE coin, Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain. In a recent revelation, the blockchain platform, Offchain Labs, unearthed the community’s acceptance of the Apechain development proposal, indicated by a more than 50% support rate.

Congratulations to @apecoin DAO on its decision to develop ApeChain utilizing the Arbitrum tech stack!

With $APE serving as both the gas and governance token for ApeChain, Arbitrum Orbit's customizability empowers @ApeCoin DAO with true ownership and control over this…

— Offchain Labs (@OffchainLabs) February 15, 2024

In December 2023, Apechain put forward a proposal to develop Apechain using Arbitrum, with the web3 development company Horizen Labs assisting. The Propos…

The post Horizen Labs, Offchain Labs, and Arbitrum Foundation Develop Apechain appeared first on Coin Edition.