Apeverse proposal rejected by 95%: Is it worthless?

According to the Snapshot page Today, the DAO community of ApeCoin has launched a new proposal called AIP-123 to vote called Apeverse. Still, the proposal got denied by more than 95% of the community votes. 

The motive of the proposal is to build an APE ecosystem website called Apeverse, which is used to deliver relevant information to ApeCoin holders punctually. Apeverse helps to develop the functionality of the ApeCoin environment by providing insightful information about the ApeCoin environment. 

According to the statement, the website initially supports multiple languages, such as English, Chinese, Japanese and Korean, because of geographical limitations. It will also help increase sales of derivative products of the ApeCoin payment system. 

Most of the community declined the investment proposal, and some of them approved it with their explanation. 

The report of COINCU mentioned, “Long believed that no project can truly scale without being multilingual. Have directly witnessed constricted growth in other projects and have privately discussed BAYC within this risk vector. The one project I’ve seen trying to capture this out of the gate is 0xThulu, hosting spaces in different languages and so forth.”

About ApeCoin —

According to coinmarketcap, ApeCoin (APE) is an ERC-20 governance and utility token; it offers a variety of functions within the APE ecosystem. ApeCoin originated from Yuga Labs’ Bored Ape Yacht Club project.

The Bored Ape Yacht Club project is called Bored Ape or BAYC.BAYc is a non-fungible token built on the Ethereum blockchain. According to the Bored Ape Yacht Club (BAYC) website, the NFT collection was introduced by four people who “set out to make some dope apes, test [their] skills, and try to build something (ridiculous).” Two of the BAYC describe themselves as ‘literary bros.’ 

ApeCoin is currently trending at $4.11 at the time of writing, with a market cap of $1,484,930,733 with a circulating supply of 361,250,000.00 APE. The all-time high value of ApeCoin was $22.9, a volume of $7.12 billion on 29 April 2022.