Yuga Labs introduces the Apecelic network

• APECOIN rose by 70 %on Sunday when Yuga Labs started the Apecechain-Minnet and introduced the premiums.
• The Apechain, a Layer-3 network based on Arbitrum, will drive the Metaversum Otherside of Yuga Lab.

Yuga Labs, the creators of the APECOIN token, the Bored Ape Yacht Club and the Mutant Ape Yacht Club as well as current owners of the NFT projects Crypto Punks and Meebits, started a Layer-3 network on Arbitrum on Sunday.

About the Apechain was first coordinated by the Apedao in January 2024 and it was developed as a more scalable solution for the meta-verse project of the studio called Otherside and the growing ecosystem from Yuga Labs.

While the studio originally launched its NFT collections on Ethereum, scalability problems, which his Otherside-Land-Urunde-Nft-Mint affected, proved to be insurmountable

The rise of Layer-3 networks

aphain is one of the largest NFT and Meta-Verse projects in the cryptor compartment, but ultimately one of many projects that choose to build a layer-3 network as a solution for the high fees and the inelasticity of Ethereum.

In contrast to Layer-2 networks such as Arbitrum, which serve as an all-purpose scaling solution, these layer 3 networks were project-specific in their current iterations and were usually developed for an ecosystem (such as the Xia network on Arbitrum, which is intended for games). Specific or Degen on Base, which is specifically for content manufacturers on Farcaster).

In the case of Apechain, the network will support all projects in the Yuga Labs ecosystem, from games to NFT collections to defect applications. A trading platform called TopTrader has already started and carries out a trading campaign to attract users.

more use for apecoin

The most optimistic argument for apecoin is, however, the additional benefits of activities on the apecelic. APE is the main coin for transactions, NFT mining and participation in the DAPPS that are built on the apekain.

APE closed on Sunday at $ 1.5, 71 % higher after the announcement of the network start and rose by 15 % on Monday at the time of writing.