Gus – Cryptocurrency Expert
On the ApeCoin forums on May 25, Avalanche proposed turning "Otherside" into an Avalanche Subnet. The subject has 2.7k views, 50 likes, and 26 votes as of writing. Users were split on whether to launch Otherside on an Avalanche Subnet or continue with Ethereum in the conversation. Within seven days, the subject will be closed automatically.
Avalanche's idea, according to the forum post, is as follows: "We suggest that ApeCoin DAO launch Otherside on an Avalanche Subnet in order to promote Otherside's future community development by enabling faster transaction processing, more throughput, greater scalability, and reduced gas prices."
Ava Labs is assisting the most forward-thinking crypto teams in the creation of subnets for hundreds of applications... The ApeCoin community is entitled to the most advanced underlying technology and engineering assistance available in the Web3 arena. We encourage you to join us in the construction process.
"We've had some early talks with [ApeCoin DAO] regarding subnets, and we've certainly got our proposal ready to go," Ava Labs Co-Founder and Chief Operating Officer Kevin Sekniqi informed a credible source about the pitch. We've all seen it with the land sale: large NFT ecosystems require a scalable environment."
Following the recent Otherdeed NFT minting incident with Ethereum, the pitch to make Otherside an Avalanche Subnet was made. Investors paid nearly $100 million in transaction fees for the Otherside metaverse land sale, with many of the purchases failing.
Yuga Labs' official Twitter account issued a thread addressing the issue because of the improper minting. The mint's exceptional size, according to Yuga Labs, was triggered by its high-demand NFT collection, which led Etherscan to fail. ApeCoin will need to shift to its own chain in the future to avoid such issues, according to the discussion.
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