Key Points:
- Yuga Labs has officially launched Layer 2 ApeChain on Ethereum, along with its bridge and Swap portal for cross-chain transactions.
- The first native product, Top Trader, is an on-chain trading simulation game allowing users to trade with up to 1,000 times leverage without financial risk.
With the formal onboarding of ApeChain, an Ethereum-based Layer 2 blockchain, Yuga Labs is marking one of the major strides in expanding its blockchain.
Read more: Yuga Labs Restruction Now Underway To Focus On Otherside And Web3
Yuga Labs Unveils Ethereum’s Layer 2 ApeChain
Along with the blockchain, the team also launched the ApeChain bridge and Swap portal to let the users perform cross-chain transactions without much tussle.
Garga.eth, one of Yuga Labs’ co-founders, Greg Solano, announced Top Trader as the very first native product on layer 2 ApeChain. This on-chain trading simulation game enables users to trade with leverages up to 1,000 times with absolutely no real financial risk.
Top Trader integrates many tools, such as Ape Portal, to make cross-chain payments seamless and effortless. Yuga ID provides an easy way of managing accounts, and sponsorship of transactional gas further enhances the user experience. The Restart Protocol is also used to manage tournament rewards, making it one of the innovative offerings on the new blockchain.
ApeChain Built on Arbitrum Orbit for Enhanced Security and Scalability
ApeCoin DAO had announced its intention of developing a dedicated Layer 2 blockchain some time ago, so the launch of ApeChain simply follows. The project had initially been proposing the development of an independent blockchain but later changed its mind to consider the Layer 2 approach more feasible. It came out after voluminous discussions within the ApeCoin community, which had already indicated solid support for staying connected to Ethereum.
Layer 2 ApeChain is developed using the Arbitrum Orbit toolkit, a move that enhances both security and scalability. Building on Arbitrum Orbit further places the ApeCoin metaverse project on an ecosystem known for its strong infrastructure. It marks yet another important development in the ApeCoin project journey, which seems to entrench itself in the growing metaverse space.
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