What Is ApeCoin?(APE)
ApeCoin 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. They holders govern themselves via the decentralized governance framework controlling the DAO, and vote on how the The DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by holders.
Important Points Table Of ApeCoin
| Basic | Points |
|---|---|
| Coin Name | ApeCoin |
| Short Name | APE |
| Total Supply | 1,000,000,000 |
| Explorer | Click Here To View |
| Documentation | View Document |
| Website | Click Here To Visit |
How to Buy the ApeCoin & Trade On Exchange?
Who Are the Founders of ApeCoin?
ApeCoin is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. It was founded to be used within the burgeoning APE Ecosystem, which is supported by the APE Foundation. The DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, providing an infrastructure for holders to collaborate through open and permission less 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. The DAO members vote on Board members.
What Makes ApeCoin Unique?
ApeCoin is the APE Ecosystem’s governance token, allowing token holders to participate in DAO and giving its participants a shared and open currency that can be used without centralized intermediaries. 62% of all was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by DAO members.
They also gives access to certain parts of the Ecosystem that are otherwise unavailable, like exclusive games and services. For third-party developers, This is a tool to participate in the ecosystem by incorporating 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 DAO members can decide how this intellectual property is used.
The APE Foundation
The APE Foundation is the steward of ApeCoin. It is not an overseer, but the base layer on which holders in the DAO can build.
The Foundation facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with administering the decisions of the DAO, and is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community’s ideas have the support they need to become a reality.
The goal of the APE Foundation is to steward the growth and development of the APE ecosystem in a fair and inclusive way. It utilizes the Ecosystem Fund, which is controlled by a multisig wallet, to pay its expenses as directed by the DAO and provides an infrastructure for holders to collaborate through open and permission less governance processes.
How Many ApeCoin Are There in Circulation?
The total supply of ApeCoin is permanently fixed at 1 billion tokens, all 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 a 48-month period.
The amount of circulation is a dynamic number that will constantly change both due to the aforementioned schedule and a myriad of market factors.
The DAO
The DAO exists because decentralized governance is critical to building and managing a globally dispersed community—and therefore critical to the success of the APE ecosystem.
The APE Improvement Proposal Process (see Governance) will allow ApeCoin DAO members to make decisions regarding Ecosystem Fund allocations, governance rules, projects, partnerships, and beyond. The DAO membership is open to all holders.
The Board
A special council on the APE Foundation (the DAO’s “Board”) provides, at the behest of the ApeCoin DAO members, oversight of the Foundation administrators. The purpose of the Board is to administer DAO proposals and serve the vision of the community. It meets on proposals requiring administrative review under DAO rules. The initial Board serves a term of six months, after which DAO members will vote annually on Board members.
APECOIN Protocol
ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem to empower a decentralized community building at the forefront of web3.
As the open-source protocol layer of the ecosystem, ApeCoin serves several purposes:
| Governance | ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO. |
| Unification of Spend | ApeCoin is the ecosystem’s utility token, giving all its participants a shared and open currency that can be used without centralized intermediaries. |
| Access | ApeCoin provides access to certain parts of the ecosystem that are otherwise unavailable, such as exclusive games, merch, events, and services. |
| Incentivization | ApeCoin is a tool for third-party developers to participate in the ecosystem by incorporating APE into services, games, and other projects. |
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.