Horizen Labs, Offchain Labs, and Arbitrum Foundation Develop Apechain

• Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain.
• Apechain will utilize APE as its utility and gas tokens, fostering the expansion of the token’s reach.
• The platforms shared their enthusiasm for the new development while the community accepted the proposal.

In a bid to expand the utility and reach of APE coin, Horizen Labs, Offchain Labs, and the Arbitrum Foundation have initiated the development of a dedicated blockchain, Apechain. In a recent revelation, the blockchain platform, Offchain Labs, unearthed the community’s acceptance of the Apechain development proposal, indicated by a more than 50% support rate.

In December 2023, Apechain put forward a proposal to develop Apechain using Arbitrum, with the web3 development company Horizen Labs assisting. The Propos…

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