On the ApeCoin DAO forum, Avalanche has posted a proposal for the Otherside metaverse to join its ecosystem, becoming a subnet in its own right. However, this invitation has received mixed reviews from the community and may never materialise.
Avalanche invites the ApeCoin DAO to make the Otherside metaverse a subnet
This Monday, Avalanche (AVAX) submitted a proposal on the ApeCoin DAO forum to convince the community to make Otherside a subnet. The ApeCoin DAO is actually the governance entity for the ApeCoin token (APE), and Otherside is the metaverse of Yuga Labs, which uses the APE as its currency.
ApeCoin would be fantastic as an Avalanche subnet, and benefit from the superior performance of its dedicated chain on the fastest consensus protocol. And the coin would have an additional use case that would help its market and regulatory stance.https://t.co/UxI2eo3vx9
– Emin Gün Sirer (@el33th4xor) May 24, 2022
Subnets are a set of blockchains, which make up the Avalanche ecosystem. By compartmentalising the network flows, they allow for great scalability and thus ensure the speed of transaction execution. Ava Labs, the entity that develops Avalanche, promises the ApeCoin community technical support for the implementation of this subnet.
Such a migration would also allow the project to be eligible for the Multiverse funding programme, which allocates $290 million to develop subnets.
This change would also result in a drastic reduction in transaction costs. Otherside had in fact completely congested the Ethereum network (ETH) during the sale of its plots of land. The event had made the cost of a transaction rise to several thousand dollars in the night of April 30 to May 1.
An invitation that may never materialise
The possibility of Otherside and the ApeCoin community joining the Avalanche ecosystem is interesting, but nothing is certain. First, Otherside is developed by Yuga Labs, so the ApeCoin DAO only influences the life of the token, which is only one of many components of this metaverse.
Moreover, part of the community is strongly opposed to integrating a subnet and prefers to move towards the various layer 2 solutions of the Ethereum blockchain. Others, on the other hand, believe that the idea makes sense and that paying network fees in APE on a subnet would increase the value of the token.
At the moment, opinions are therefore divided on the ApeCoin DAO forum. This proposal is still in the discussion stage and each member of the community has his or her own point of view.
Nevertheless, it raises an interesting thought, as play-to-earn and various blockchain solutions develop. Indeed, we see this as a political game, where each ecosystem will try to attract potential successes to its network.
