The ApeCoin, a decentralized autonomous organization (DAO) created to govern the Bored Ape Yacht Club NFTs and ApeCoin ecosystem, announced that the ApeChain testnet, named Curtis, will be launched today. This development marks a significant step for ApeCoin as it continues to expand its blockchain capabilities.
ApeChain Testnet Curtis Sets To Launch Today
In a July 15 blog post, the ApeCoin confirmed that the ApeChain testnet, named Curtis, will be launched today, July 16, 2024. While commenting about the development, Greg Solano, the co-founder of Yuga Labs, the digital asset firm behind Bored Ape Yacht Club, remarked:
“The special council asked us to get involved on the branding and my team fucking crushed it imo. More to come on that, won’t be much to do on testnet yet, but otherside and other dapps we’ve been cooking will all be running on the chain once mainnet is here.”
Launched in 2021, Yuga Labs is a renowned digital asset incubation studio focused on shaping web3 through storytelling, experiences, and community. The digital asset firm is home to many non-fungible token collections, including the Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Twelvefold.
Other non-fungible token collections managed by the web3 lifestyle and media company Yuga Labs include the CryptoPunks and Meebits NFT collections. Earlier this year, Yuga Labs acquired Proof Collective, which encompasses large NFT collections and projects such as Moonbirds, Oddities and Grails.
Bored Ape NFT DAO’s ApeChain Network Explained
In March 2022, the Yuga Labs team launched ApeCoin, a decentralized autonomous organization (DAO) created to govern the Bored Ape Yacht Club and ApeCoin ecosystem. A few days later, ApeCoins were first distributed to Bored Ape and Mutant Ape NFT holders, who received about 10,000 and 2,000 tokens, respectively.
By description, ApeCoin is an ERC-20 governance and utility crypto token used to empower a decentralized community building at the forefront of web3. Earlier this year, the decentralized autonomous organization behind ApeCoin voted to build its gaming-focused ApeChain as a Layer 3 network on top of Arbitrum, an Ethereum Layer 2 network.
The upcoming ApeChain network will be developed on Arbitrum Orbit, a platform allowing the creation of customized Layer 3 app chains on top of Arbitrum’s One and Nova Layer 2 networks. After several weeks of development, the ApeChain network has started its journey to become a reality, with the testnet named Curtis, set to launch today.
