What is ApeCoin?
ApeCoin (APE) is the native token of the BAYC ecosystem, minted as an ERC-20 on the Ethereum blockchain. The coin was created by the ApeCoin DAO that empowers the community to design and make decisions. Yuga Labs, the developer of The Bored Ape Yacht Club has helped raise as much as $450 million. This move puts the price of APE trading in the green. Even after encountering Flash Loan attacks before.
Essential details:
- The creator of ApeCoin is the APE Foundation, which is a gathering of Bored Ape Yacht Club enthusiasts. While Yuga Labs is also a member of the ApeCoin DAO, which may affect the development trend and adoption of ApeCoin in other projects in the future.
- The APE Foundation has a core member called The Board. This group is responsible for examining the policies proposed through the ApeCoin DAO and is like the ship captain that guides the vision for ApeCoin. The first set of The Board members will hold a position for 6 months. After that, ApeCoin holders will be able to vote for new members of The Board annually. ApeCoin has been issued in total of 1 billion tokens and cannot be created more. With no burning system, ApeCoin's supply is locked to 1 billion tokens.
Why invest in ApeCoin?
- BAYC NFT holders are also eligible for free ApeCoin on coin launch.
- APE coins can be used in many ways as follows:
- Access to specific features such as special events, merchandise, games and services.
- Allow holders to join the ApeCoin DAO to drive the community.
- Developers can use ApeCoin to join the Bored Ape community, they may integrate APE into other games, services and projects.
- All Bored Ape members can use ApeCoin for transactions between them without a centralized third party.
Whitepaper: https://apecoin.io/assets/docs/white-paper-en.pdf
Website: https://apecoin.com/
