Yuga Labs CEO, Greg Solano, has launched a new division called “The Workshop” to develop on-chain products and dApps on Apechain

Garga.eth (Greg Solano) 🍌 on X: "shortly after I took over as CEO, we created a new division at Yuga to focus exclusively on emerging products. we call it The Workshop. 

On August 30, 2024, Yuga Labs, under the leadership of CEO Greg Solano, has launched a new division called “The Workshop” to develop innovative on-chain products for ApeChain.

YugaLabs bring 13 of the best engineers and product people to develop decentralized applications on Apechain.

ApeChain is a dedicated blockchain network developed specifically for the Bored Ape Yacht Club (BAYC) ecosystem, with a focus on enhancing the utility of the ApeCoin ($APE) token.

It is built on Arbitrum's Layer-3 (L3) technology, known as Arbitrum Orbit, which allows it to offer significant scalability benefits while leveraging Ethereum's security.

The main goal of ApeChain is to create a more efficient and cost-effective alternative to the Ethereum mainnet, particularly for transactions within the BAYC and related applications, such as the Otherside metaverse.

By using $APE as the native gas token, ApeChain aims to strengthen the token's role within its ecosystem, making it integral to both governance and transactions.

ApeChain also supports various decentralized applications (dApps) and features unique web3 infrastructure to foster innovation within the community.

This initiative is inspired by Coinbase’s Base chain strategy and aims to foster rapid product development cycles.

Solano emphasized that unsuccessful products would be swiftly discontinued, reflecting Yuga Labs’ agile approach.

The Workshop will operate in short cycles of 8 to 12 weeks, allowing for quick iteration and market testing.