ApeChain Ecosystem Explosion

At around 4:00 a.m. Beijing time on October 20, the official Bored Ape Yacht Club Twitter account announced that the ApeChain mainnet had officially launched. Shortly afterward, Ape Express, an ecosystem launchpad by the ApeChain-based platform Pump.fun, also went live.

This launch has stirred excitement across the blockchain community. It marks a significant milestone for ApeChain and potentially sets the stage for substantial ecosystem growth.

Source: @BoredApeYC

Stimulated by positive news, the ApeChain ecosystem token $APE surged dramatically, with its price climbing from around $0.75 to a peak of $1.73, marking a 130% increase in less than 24 hours.

Source:Gate.io

Meanwhile, within the ApeChain ecosystem, there was also a frenzy around memecoins. The flagship memecoin, CURTIS, skyrocketed after its launch, with the price soaring from an opening value of $0.00007095 to a peak of $0.028, achieving a remarkable 100x increase in less than a day. On-chain data shows that one wallet, which spent just over $1,000 to purchase CURTIS, saw an unrealized gain exceeding $1 million.

Additionally, the floor prices for Yuga Labs’ NFT collections, such as BAYC and MAYC, also rebounded, increasing over 10%.

However, following the short-lived FOMO sentiment, the prices of related tokens experienced sharp declines. According to data from Gate.io, the price of $APE has fallen back to approximately $1.02, a 41% pullback. In comparison, memecoins in the ApeChain ecosystem, led by CURTIS, appear to have “lost momentum,” with CURTIS now trading at $0.0027—down 90% from its all-time high.

Worse still, on-chain data from Dune reveals that asset inflows to ApeChain dropped significantly the day after its launch, even showing a net outflow.

Source:@dknugo

The price trend of the ecosystem token suggests that ApeChain’s popularity doesn’t appear to have lasted as long as anticipated. Is this a prelude to a full ecosystem launch or merely a fleeting surge amid a sluggish market? The answer may lie within ApeChain itself.

What is ApeChain?

ApeChain is an infrastructure layer specifically designed to power the ApeCoin ecosystem, developed by the ApeCoinDAO. Built on Arbitrum Orbit, ApeChain uses ApeCoin as its native Gas token.

A defining feature of ApeChain is its automatic yield generation for ecosystem users. By bridging certain assets—such as stablecoins like USDC, USDT, DAI, and cryptocurrencies like ETH and ApeCoin—into the ApeChain ecosystem, users can earn native yields with automatic compounding, all without requiring manual interaction on Layer 2 and Layer 3 chains.

ApeChain Core Technical Architecture

By choosing Arbitrum Orbit, ApeChain benefits from Ethereum’s security and liquidity while retaining the advantages of an independent chain. Key features of ApeChain on Arbitrum Orbit include:

• Full EVM Compatibility: Ensuring seamless compatibility with Ethereum’s Virtual Machine.
• Anytrust Data Availability for Ultra-Low-Cost Transactions: Reducing costs while maintaining data integrity.
• Dedicated Throughput and More Reliable Gas Pricing: Improving transaction processing efficiency.
• Independence and Upgradability: Allowing flexibility for future improvements.

To maximize the advantages of the Arbitrum stack, ApeChain’s development roadmap aligns closely with Arbitrum’s own, supporting ApeCoin through four milestone upgrades:

Stylus: A New Approach to Writing Smart Contracts
Stylus introduces an additional virtual machine that is fully interoperable with the EVM, enabling new ways to develop smart contracts. As an early adopter of Stylus, ApeChain allows developers to use programming languages like Rust, C, and C++, expanding accessibility and versatility in smart contract creation.

Timeboost: Prioritized Gas Fees for ApeCoin Deflation
Arbitrum Orbit typically processes transactions based on the order of arrival. The Timeboost upgrade introduces a priority channel for users willing to pay extra Gas fees for faster transaction processing. Half of these fees will be directed to the DAO, while the other half will be burned, creating a deflationary mechanism for ApeCoin.

BoLD: Decentralization for Expanded ApeCoin Use Cases
BoLD enables validators on ApeChain to participate as proposers and challengers without needing special permissions. Active and loyal validators are rewarded, and validators must stake ApeCoin, which strengthens ApeCoin’s utility. This decentralized model adds resilience and expands ApeCoin’s applications.

Cluster Chains: Application-Specific Scaling
While Arbitrum L2 and L3 chains share foundational technology, they currently lack direct interconnectivity. The Cluster Chains feature will allow Arbitrum chains to leverage one another’s validators, boosting throughput and enabling faster cross-chain interactions within the shared security framework of a clustered setup.

Overview of ApeChain Ecosystem Projects

ApeChain’s core vision is to provide developers and users with an optimal blockchain experience, focusing on enhancing content, tools, and distribution.

To date, ApeChain has introduced several foundational ecosystem tools and services beyond its one-click memecoin issuance platform, Ape Express. These include Ape Portal, a cross-chain bridge, and ApeScan, a block explorer, which help meet diverse user needs together. The ecosystem continues to expand across gaming, finance, infrastructure, and IP domains. To encourage ecosystem growth, ApeChain has also launched an incentive program called BANANA BILL. This program allocates over 100 million ApeCoin for DApp support and user incentives.

Below is a brief overview of ApeChain’s current ecosystem projects:

Ape Express: One-Click Token Issuance Platform

Ape Express is a memecoin issuance platform similar to Pump.fun, designed to help developers easily create and deploy tokens and set up liquidity pools. All tokens on Ape Express adhere to the ERC-20 standard and operate on a bonding curve, allowing creators to customize reward distribution, lock-up periods, and other parameters. To provide additional liquidity, Camelot and Saru are among the first exchanges to support tokens created on the Ape Express platform.

Through these projects, ApeChain aims to attract diverse developers and users, fostering a vibrant and multifaceted ecosystem.

Source: Ape Express

Ape Express: One-Click Token Launch Platform

Ape Express has introduced three projects with a market cap exceeding $1 million each: BORED, Curtis, and NOT A CULT. As the platform develops, future updates will include staking functionalities and a rewards program to incentivize early adopters based on trading volume and other activities to boost platform adoption.

Battle Plan: Real-Stakes Gaming

Developed by Pixel Vault, Battle Plan is an automated fighting game where players can form teams, upgrade equipment, and place real-money bets to earn rewards.

Source: Battle Plan

Players deposit $APE, which is converted to Ape Points, which are used for battles that contribute to leaderboard rankings. Players accumulate battle points based on their performance in each match, earning placements on the main and tournament leaderboards.

Ape Portal: Cross-Chain Bridge

Ape Portal is ApeChain’s official cross-chain bridge, enabling asset transfers between Ethereum, Arbitrum, and ApeChain itself. Supported assets include ApeCoin, ETH, and stablecoins like USDT, USDC, and DAI, providing a seamless bridge for users across networks.

Top Trader: Trading Simulation Game

Top Trader is a simulation-based trading game that hosts daily tournaments, where players can compete using up to 1,000x leverage.

Source: Top Trader

Each entry costs 10 $APE and contributes to the daily prize pool. The top trader, based on profit and loss ranking, receives 50% of the pool, while the remaining 50% is shared among the 2nd to 10th-place participants.

Made By Apes: IP Ecosystem

Made By Apes, created by Yuga Labs on ApeChain, is a community of over 400 brands, products, and services built around the BAYC IP. This platform allows BAYC and MAYC holders to license the Made By Apes logo for use in their own initiatives, showcase their projects in the Bodega directory, and gain exclusive opportunities available only to MBA license holders.

Source:Made By Apes

Dookey Dash: Unclogged (DDU): Web3 Casual Game

Dookey Dash: Unclogged (DDU) is a cross-platform casual game where players navigate sewer levels, avoiding obstacles and collecting shards for points. In “Creator Mode,” players can design and trade in-game assets such as skins and vehicles. Weekly and seasonal leaderboards reward top players with in-game boosts, exclusive skins, and a share of a tournament prize pool, which starts at a minimum of $1 million.

Camelot: Decentralized Exchange (DEX)

Camelot, the largest DEX on Arbitrum, also serves as the first Orbital liquidity network and supports Ape Express tokens. With over $30 billion in trading volume and partnerships with 75 other projects, Camelot is a vital hub connecting Orbit chains with the broader ecosystem. In December 2022, Camelot raised $3.8 million through a public funding round. Its utility token, $GRAIL, incentivizes participants and supports ongoing ecosystem development.

These projects drive ApeChain’s ecosystem forward, offering users unique experiences and developers a robust framework to build on.

Conclusion

As a former top player in the NFT ecosystem, Yuga Labs commands attention with its portfolio of high-profile IPs. Despite a cooling market in recent times, the team has continued to explore opportunities in the metaverse, gaming, and blockchain infrastructure.

Source: apechain.calderaexplorer.xyz/stats

Will ApeChain be Yuga Labs’ lifeline? It’s still too early to say. However, growth in ApeChain network accounts suggests that with a steady influx of users and capital—and if Yuga Labs can support the emergence of a few standout products—the platform could uncover significant new value. Ultimately, ApeChain’s journey is only just beginning.

Appendix: Adding ApeChain Network Parameters to MetaMask

• Network Name: ApeChain
• RPC URL: https://apechain.calderachain.xyz/
• Chain ID: 33139
• Currency Symbol: APE
• Block Explorer: https://apechain.calderaexplorer.xyz/