What chain is ApeCoin on?

Could you please elaborate on the blockchain network that ApeCoin is currently operating on? I'm curious to understand the technical foundation that supports this cryptocurrency and how it fits into the broader landscape of decentralized finance. Given the recent popularity of ApeCoin, it's important to have a clear understanding of the underlying infrastructure that powers its transactions and functionality. Additionally, understanding the blockchain network can provide insights into potential risks, opportunities, and scalability considerations for investors and users alike.