Yuga Labs, the firm behind the popular NFT collection Bored Ape Yacht Club, and ApeCoin DAO board members were in talks to move Apecoin from Ethereum to another Layer-1 project. At this point, negotiations were made with Avalanche and Flow, but no conclusion could be reached.

The discussion, which started with a tweet from Yuga Labs, was asked from the ApeCoin community. The community was asked if they wanted the project to stay on Ethereum. 99.95% of those voting stated that they were not willing to move ApeCoin to another project and wanted it to stay on Ethereum.

The proposal opposes Bored Ape owner Yuga Labs' idea of ​​porting ApeCoin to its own chain to improve scalability. Yuga Labs came up with the idea after the long-awaited release of Otherside NFTs raised the Ethereum transaction fee significantly.

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Although Yuga Labs wanted to migrate to a new chain or its own chain due to high transaction fees and scaling issues in Ethereum, it was unable to gain the support of the community.

Experts stated that the idea of ​​establishing ApeCoin's own chain will not find support, because the project has no such experience and there may be compatibility problems with other chains.

In Yuga Labs' latest metaverse land sale, investors paid a total of more than $100 million in transaction fees, sparking the project, and the idea of ​​moving from Ethereum first surfaced on May 1.

ApeCoin has received offers from several blockchains, including Avalanche and Immutable X, to move ApeCoin into their networks. However, the community is strongly opposed to Avalanche and pro-ETH L2. Most users say they prefer to have assets backed on ETH L2 rather than EVM chains.

At the time of writing, ApeCoin (APE) is priced at $6.16, according to CoinGecko data. APE's last 24-hour trading volume was $224,389,005.