Apecoin Whales Flex Their Muscles, Attempt to Sway Vote in Favor of Moving APE Off Ethereum

Ethereum Updates

Summary:

  • Three ApeCoin whales have voted against the proposal to have APE remain on Ethereum.
  • Late last week, 99% of the ApeCoin votes were for the proposal to keep APE within the Ethereum ecosystem.
  • With the new votes by Apecoin whales against APE staying on Ethereum, the lead has been slashed to 55%, indicating a slight chance that the proposal will conclude with the community deciding to migrate off ETH.

There is a unique situation in the ApeCoin community as three APE whales have voted against the ongoing proposal to keep the token within the Ethereum ecosystem. The three whales, apeuniverse.eth, Vera the Ape and 0x27677a95F17dE170FD4cbac47712784Fa3Be4D02, have committed 708,000 APE against the proposal, as highlighted in the screenshot below.

Apecoin Whales Flex Their Muscles, Attempt to Sway Vote in Favor of Moving APE Off Ethereum 14
ApeCoin whales voting against AIP-41.

99% Majority To Keep ApeCoin Within Ethereum, Slashed to 55%.

Last Friday, and before the ApeCoin whales voted against AIP-41, 99% of the votes were for the idea of keeping APE within the Ethereum ecosystem.

However, the new votes by the whales against the proposal have narrowed this overwhelming majority to 55%. Consequently, voters against the proposal need 300k APE to swing the vote in favor of migrating Apecoin off Ethereum completely, with three days left for the voting to conclude.

Apecoin Whales Flex Their Muscles, Attempt to Sway Vote in Favor of Moving APE Off Ethereum 15
99% majority vote to keep ApeCoin on Ethereum, narrowed to 55%.

ApeCoin Community’s Insights on the Proposal to Keep APE within Ethereum.

As earlier mentioned, voting for AIP-41 is still ongoing and will conclude on the 9th of June. At the same time, the Apecoin community has offered insights on why they are for or against the proposal to keep APE within the Ethereum ecosystem. Below are samples of some of their views on the proposal.

Ape should remain in the Eth ecosystem. I’d like to see any scaling solution be OPT-IN personally, assuming such a thing is technically possible. Ape is doing very well for itself and has a bright future once the Otherside economy opens up. Let’s not shoot ourselves in the foot with a drastic move. Incremental change is key IMO. – by GuruOfTroyHill

I highly agree with your sentiment that we should NOT migrate from the Ethereum chain as that give us the best security and liquidity ESPECIALLY with ETH 2.0 coming in the future. I also highly agree that even without using ANY L2 and to avoid looking like I am pushing some goofy project I have a massive bag in, there could have been solutions to avoid the gas war. – by BiggaThanJesus

I think they should look instead in arbitrum, optimism, zksync or immutable, use them as they are or fork those and build there. Moving away from ethereum is really the worst decision they can make, and I’ll need to think hard if I want to stick arround if that happens. – by monomesa

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