Polygon Labs sent a proposal to the ApeCoin DAO to develop and maintain its own zero-knowledge Layer-2 with the Polygon Chain Development Kit. The Polygon co-founder Sandeep Nailwal in the proposal cited Yuga Labs 18 months statement where they affirmed the “need to migrate [their] own chain in order to properly scale.”
The co-founder detailed that the initiative would require an ApeCoin zk-L2 chain developed and managed by a web3 Implementation Partner. He stated that the move would help boost the growth and development of the ApeCoin ecosystem.
In addition, collaborating with Polygon Labs and receiving a development fund from the ApeCoin DAO treasury are also necessary. The funds obtained from the treasury will be used to advance projects integrated with ApeCoin and support public goods related to ApeChain. This will ultimately enhance user experience and drive increased adoption, as explained by the co-founder in the proposal.
The ApeCoin DAO will however select an Implementation Partner with technical support from Polygon Labs. The Implementation Partner is responsible for building and maintaining the ApeChain, which will be funded by the ApeCoin DAO treasury. According to Polygon Labs, the total cost estimate for building, deploying, and maintaining ApeChain is $200,000 every year (annually) from the ApeCoin DAO.
According to Polygon Labs, ApeCoin zk-L2 Chain would inherit the “full” security of Ethereum through validity proofs once deployed using Polygon CDK, Low Fees, and Shared Liquidity. “One of the biggest reasons to become an Ethereum L2 is to gain access to deep liquidity,” the co-founder said in the proposal.
Furthermore, the Polygon CDK offers distinctive L2 customization, Near-Instant Withdrawals, and Fast Finality, as proposed by Polygon Labs. In addition, Polygon Labs announced its collaboration with ApeCoin DAO to provide ecosystem support and development. Sandeep proudly emphasized that Polygon Labs’ core developers have dedicated years to building zk technology and establishing a close alignment with Ethereum.
At the time of writing, the proposal has received 22 votes on the ApeCoin DAO. Several chains have been developed using Polygon CDK including Immutable zkEVM, Gnosis Pay, Capx, Palm Network, Astar zkEVM and Canto etc.
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