Polygon Co-founder Proposes zk-based L2 Chain To ApeCoin DAO

11 October 2023

in ApeCoin

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The co-founder of Polygon, Sandeep Nailwal has proposed ApeCoin DAO to develop zk-powered ApeChain built using Polygon’s CDK.

The dedicated ApeChain will be a zero-knowledge proofs (ZKP) based layer 2 network, which will be developed by an implementation partner while in collaboration with Polygon Labs. The proposed ApeChain will also need a development fund from ApeCoin DAO treasury for development and growth of its ecosystem.

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With the forum post, Sandeep addresses ApeCoin’s need for a native chain which Yuga Labs revealed in May, 2022. The DAO however voted to keep ApeCoin within the Ethereum ecosystem.

The post cited that the proposed ApeChain will provide DAO and its members with a revenue stream of sequencer fees and staking rewards for network validators “while solving the aforementioned scaling issue.”

Polygon’s tech stack has been widely used by prominent companies across the decentralized ecosystem. Recently, a Polkadot parachain – Astar Network announced to launch its zkEVM setup which uses Polygon’s CDK.

Sandeep has received positive feedback from the community with several users supporting and appreciating him with the proposal. The proposal will be further sent for voting after community members’ thorough discussion.