2024-09-05
Yuga Labs is a blockchain technology
company best known for creating the Bored Ape Yacht Club (BAYC), one of the
most successful and iconic NFT collections.
In addition to BAYC, Yuga Labs has
expanded its influence with other major NFT projects like the acquisition of
CryptoPunks and Meebits, two pioneering NFT collections.
Greg Solano is the CEO of Yuga Labs.
Yuga Labs is the developer of ApeCoin
that started in 2022 as a governance and utility token. Later it expanded to
develop ApeChain in 2024.
ApeChain is an Arbitrum Orbit chain.
Arbitrum Orbit is layer-3 chains built on top of Arbitrum One or Arbitrum Nova. These Layer 3
chains would be specialized blockchains tailored for specific use cases,
providing even more customization, scalability, and flexibility for developers.
ApeChain is a blockchain designed to
support the ApeCoin ecosystem, primarily revolving around the Bored Ape Yacht
Club (BAYC) community.
It is built as a Layer 3 (L3) solution
on top of Arbitrum, a well-known Layer 2 (L2) scaling network for Ethereum.
The primary objective of ApeChain is to
address scalability issues on Ethereum, which has historically faced high gas
fees and congestion.
ApeChain leverages Arbitrum's
technology to offer faster and cheaper transactions, making it ideal for Web3
gaming and decentralized applications (dApps).
ApeChain utilizes $APE as its native
gas token.
This is part of Arbitrum's broader
vision for a multi-chain future, where different layers can cater to different
needs and use cases.
ApeChain supports Arbitrum Stylus.
Arbitrum Stylus lets developers to use both traditional EVM tools and WASM-compatible languages like Rust, C, and C++ to build applications on Arbitrum.
ApeChain testnet, Curtis, is already went live. Yuga Labs will launch Apechain mainnet soon. However, Yuga Labs does not provide specific launch date of the ApeChain yet.
