Pengween :)

some thoughts on APE: Staking for ApeCoin ends today. I think that's a good thing longterm. Staking had an admirable goal: align BAYC holders and long-term believers with ApeCoin. In practice though, it created a hyperinflationary setup and constant sell pressure that didn't really benefit anyone. So we’re moving APE to a usage-driven economy instead, and making the token deflationary. I’ve said this before, but I think generalized L2’s without a killer app are a dead end. A chain is only as good as the thing on it that people actually want to use. For APE, that killer app is Otherside. We’re already seeing how Otherside can be a home for communities across crypto. And it’s the perfect canvas for us at Yuga to partner with some of the biggest companies and artists in the world, from Amazon to Daniel Arsham. Going forward, we’ll keep evolving Otherside into the best place for creators to launch their own game or social experience, with crypto quietly doing the heavy lifting in the background: permissionless ownership, creator royalties, and open economies. That means incentives should line up so ApeCoin wins if Otherside wins, and vice versa. To start, from now on all gas spent on transactions on ApeChain will be burned. So that activity on Otherside permanently reduces the supply of APE. This will be small to start, of course, and not as flashy as staking. But it’s the start of a real economic loop, where value comes from what people build and use. This is just the foundation. There’s a lot more coming to make Otherside more robust, scalable, wild and fun. Along with ways to make sure the economic loop between Otherside and APE is stronger than ever. More to share on all that soon.