BAYC Creator Yuga Labs Launches ApeChain, ApeCoin Pumps 100%

Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC), has officially launched ApeChain.

Built on Ethereum, the Layer 2 blockchain further expands the BAYC ecosystem, improving interactions and simplifying transactions for the community.

"Ok degens, the official bridge is http://apechain.com/portal. For the love of god @apecoin tweet this out on it’s own and pin it somewhere [sic]," ApeCoin tweeted on Sunday.

BAYC also put a spotlight on ApeChain, highlighting that the blockchain will feature account abstraction with Yuga ID, native yield, one-click on-boarding with Ape Portal, ApeChain Spotlight, and Apple Pay.

"If you don't have this stuff, you're not even in the game. That stuff is table stakes. Of course ApeChain will have all of that," BAYC tweeted.

"ApeChain is bigger than BAYC and MAYC. It’s for anyone who considers themselves an Ape – anybody who likes to have a lot of fucking fun in crypto."

The launch is part of Yuga Labs's initiative to future-proof its ecosystem with partnerships such as one with Wire Network to create a universal Layer 1 blockchain tailored for the emerging AI agent economy.

"By combining our scalable, next-generation blockchain infrastructure with Yuga’s creativity and cultural influence, we are opening up new possibilities for AI agent interactions," Ken DiCross, CEO of Wire Network said.

On-chain trading simulation game, Top Trader, will be the inaugural product on ApeChain. The game allows users to trade with leverage up to 1,000 times, offering an exciting, risk-free trading experience.

News of ApeChain's launch sent ApeCoin (APE) skyrocketing 100%. Specifically, APE will function as a gas token for transactions, driving demand and incorporating a burn mechanism.

In addition to voting within the ApeCoin DAO, APE will feature a native yield mechanism.