ApeChain, a new Ethereum layer-2 network, was launched by the ApeCoin DAO during ApeFest Lisbon. This launch led to a doubling in the price of ApeCoin (APE). ApeChain comes with various apps and games, including a meme coin launchpad, leverage trading simulator, and other games. Earlier this year, the ApeCoin DAO selected Arbitrum technology to power the new network, beating out competitors like Polygon and zkSync. ApeChain features abstracted account creation, gas-sponsored transactions, and the use of LayerZero's Omnichain Fungible Token (OFT). Since the launch, ApeCoin has experienced significant price growth, reaching a six-month high. ApeChain includes decentralized apps such as Ape Express, Top Trader, and Pixel Vault's Battle Plan. The ApeCoin DAO has allocated $70 million to invest in projects on the network and has introduced a points-based reward system called "Spotlight" for users.



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