Yuga Labs launches ApeChain on Ethereum

Yuga Labs, the Web3 company behind Bored Ape Yacht Club, has officially onboarded ApeChain, an Ethereum-based Layer 2 blockchain. In addition to launching the blockchain itself, Yuga Labs has introduced the ApeChain bridge and Swap portal, enabling users to conduct cross-chain transactions easily.

The launch is part of Yuga Labs’ commitment to future-proofing its ecosystem through strategic partnerships, including one with Wire Network, a universal Layer 1 blockchain infrastructure designed for the AI agent economy. This partnership envisions a future where AI agents can perform advanced tasks on behalf of humans, providing creators with tools to engage with their fans more effectively and profitably.

Ken DiCross, CEO of Wire Network, stated:

“…By combining our scalable, next-generation blockchain infrastructure with Yuga’s creativity and cultural influence, we are opening up new possibilities for AI agent interactions.”

~Ken DiCross

According to Yuga Labs, this alliance intends to change how consumers and creators connect with AI agents by providing increased, meaningful engagement across digital and virtual worlds as AI becomes a hot topic in the creator economy.

Yuga Labs unveils the first native product on ApeChain

Greg Solano, co-founder of Yuga Labs (known as Garga.eth), announced Top Trader as the first native product on ApeChain. In this on-chain trading simulation game, users can trade with leverages up to 1,000 times with no actual financial risk.

Top Trader is equipped with various features, including the Ape Portal for seamless cross-chain payments and Yuga ID, which simplifies account management. The addition of transaction gas sponsorship further enhances the overall user experience. 

The Restart Protocol is also used to manage tournament rewards, making it one of the innovative offerings on the new blockchain.

ApeCoin DAO shifts to Layer 2 for enhanced security and scalability

The ApeCoin DAO expressed interest in creating a dedicated Layer 2 blockchain some time ago, so the launch of ApeChain simply follows. 

The project initially proposed the development of an independent blockchain but later changed its mind and considered the Layer 2 approach more feasible. This decision came after voluminous discussions within the ApeCoin community, which had already indicated solid support for staying connected to Ethereum.

ApeChain was developed using the Arbitrum Orbit toolkit, which enhances both security and scalability. By leveraging Arbitrum Orbit, the ApeCoin metaverse project aligns itself with a robust ecosystem, marking another important milestone in its journey.