ApeCoin, a decentralized autonomous organization (DAO) created to manage the Bored Ape Yacht Club NFT and ApeCoin ecosystem, announced that the ApeChain testnet, named Curtis, will be launched today. This development marks an important step for ApeCoin in its continued expansion of its blockchain capabilities.
It's time for a change.
Testnet Curtis.
July 16, 2024
In a blog post on July 15, ApeCoin confirmed that it will launch an ApeChain testnet called Curtis on July 16, 2024 (today). Speaking about the development, Greg Solano, co-founder of Yuga Labs, the digital asset company behind the Bored Ape Yacht Club, said:
“The special committee asked us to participate in branding, which my team is very happy with. There will be more news on this matter. The testnet will not have a lot to do for the time being, but other aspects and other Dapps we have been developing will be running on the mainnet.”
Founded in 2021, Yuga Labs is a well-known digital asset incubation studio focused on shaping web3 through narrative, experience, and community. The digital asset company owns many non-fungible token series, including Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Twelvefold.
Yuga Labs also manages other non-fungible token series, including the CryptoPunks and Meebits NFT series. Earlier this year, Yuga Labs acquired Proof Collective, which covers large NFT series and projects such as Moonbirds, Oddities, and Grails.
Analyzing the ApeChain Network of Bored Ape NFT DAO
In March 2022, the Yuga Labs team launched ApeCoin, a decentralized autonomous organization (DAO) to manage the Bored Ape Yacht Club and the ApeCoin ecosystem. A few days later, ApeCoin was first distributed to Bored Ape and Mutant Ape NFT holders, receiving approximately 10,000 and 2,000 tokens respectively.
According to the 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 on Arbitrum, an Ethereum second-layer network.
The upcoming ApeChain network will be developed on Arbitrum Orbit, a platform that allows the creation of customized third-layer application chains on top of Arbitrum's One and Nova second-layer networks. After weeks of development, the ApeChain network has begun to be realized, and its testnet, named Curtis, will be launched today.
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