What Is ApeCoin?
ApeCoin (APE) is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.
ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.
Who Are the Founders of ApeCoin?
ApeCoin is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. ApeCoin was founded to be used within the burgeoning APE Ecosystem, supported by the APE Foundation. The ApeCoin DAO aims to build and maintain the APE Ecosystem fairly and inclusively, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.
An administrative council within the APE Foundation (the “Board”) will carry out the decisions of ApeCoin DAO members. The Board is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the Community’s ideas have the support they need to become a reality. ApeCoin DAO members vote on Board members.
What Makes ApeCoin Unique?
ApeCoin is the APE Ecosystem’s governance token, allowing token holders to participate in ApeCoin DAO and giving its participants a shared and open currency that can be used without centralized intermediaries. 62% of all ApeCoin was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members.
ApeCoin also gives access to certain parts of the ecosystem that are otherwise unavailable, like exclusive games and services. ApeCoin is a tool for third-party developers to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects.
The APE Foundation was gifted a 1 of 1 NFT by Yuga Labs, the creators of Bored Ape Yacht Club. Yuga Labs has conveyed all rights and privileges to this NFT and its underlying artwork to the APE Foundation. The ApeCoin DAO members can decide how this intellectual property is used.
How Many ApeCoin Are There in Circulation?
The total supply of ApeCoin is permanently fixed at 1 billion tokens, and all are minted at once.
On launch day, March 17, 2022, 30.25% will be in circulation. This percentage will continually increase following launch day at regular intervals over 48 months.
The amount of ApeCoin in circulation is a dynamic number that will constantly change due to the schedule, as mentioned earlier, and many market factors.
How Is the ApeCoin Network Secured?
ApeCoin is an ERC-20 token launched on the Ethereum blockchain. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism.
Where Can You Buy ApeCoin?
ApeCoin is available to trade on numerous exchange platforms, including decentralized exchanges like SushiSwap and top centralized exchanges.