The ApeCoin DAO proposal officially leans towards keeping the community within the Ethereum network.

ApeCoin DAO, a governance system serving the democratic rights of holders of ApeCoin - a digital asset linked to the Bored Ape Yacht Club collection ecosystem - released an official proposal on May 2 to discuss whether the asset should remain on the Ethereum network, transition to a Layer 2 alternative or perhaps explore the possibility of switching chains.

The ApeCoin Improvement Proposal (AIP) titled "AIP-41: Keep ApeCoin within the Ethereum Ecosystem," was drafted by BAYC 2491, known as ASEC, and was inspired by a number of incidents, including Otherdeed's controversial minting of NFTs, and the subsequent backlash from Yuga Labs.

For the counter proposal inspired by previous incidents, controversies and more recent decentralization or DeFi projects such as Ownex, Minosis Token or LunaFi, was put on the table as a possible solution.

However, After a six-day voting period, the final results convincingly reveal that 67.77% of ApeCoin users advocate staying on Ethereum for the medium-term future, with 4 million APE tokens used in votes.

The calamitous auction of Yuga Labs' Otherdeeds metaverse lands intensely scrutinized the financial limitations of Ethereum's gas-rate mechanics, and led key members of the ApeCoin community to voice their concerns around ApeCoin's fixed supply contract, and its potential for scalability.

The overwhelming deflation of the gas wars, and the lack of financial inclusion or integrity, was then compounded by Yuga Labs' ill-timed tweet insisting that "it seems pretty clear that ApeCoin will need to migrate to its own blockchain in order to scale properly," and that "we would encourage the DAO to start thinking in this direction."

Despite Yuga Labs' not at all subtle suggestion, AIP-41 passionately advocated against Ethereum migration, stating that "such a decision is currently too complex and costly to make," and could potentially damage its entrenched network presence with the highest volume and cultural adoption of NFT.

The outcome of the vote on the ApeCoin DAO proposal will not be final and may be deliberated and rebutted with a secondary vote within a three-month grace period.

The total vote on the proposal was 2.7 million in favor and 1.3 million against, which is 67.77%. This result is not entirely final, and may be further deliberated with the submission of new proposals within the aforementioned three-month grace period.