More often, the value is correlated to the collective belief that the project’s backers have in it, and both those beliefs and the tokens’ value can be manipulated as part of the startup’s growth. All told, 15% of the token supply will be allocated to NFT holders. Another 47% of the total supply will be granted to the DAO treasury and resources, with much of that tally vesting over the next 48 months. CoinMarketCap reporting that about 28% are currently in circulation. Many of the total supply of tokens will vest gradually over the next few years. At its core, ApeCoin is the native token for the BAYC universe, not the Yuga ecosystem.

On this lies the future value of ApeCoin more than anything else. Speaking of which, all NFTs released by Yuga Labs in the future will be minted with ApeCoins. This already happened with Otherdeed NFTs—land plot NFTs costing 305 APE a piece when launched.

What makes $APE different? Benefits of ApeCoin

Instead, it is a gamified metaverse platform where users can use their NFTs from other collections as playable avatars. The next crucial advantage you can notice with ApeCoin protocol would refer to the facility of incentives. It is a favorable platform enabling third-party developers to join the ecosystem. Developers can receive incentives for integration of APE in their new games, projects, or other services. ApeCoin is a new addition to the crypto ecosystem and draws many references to the use of non-fungible tokens.

Establishing an ecosystem fund to assist projects utilizing the coin. The ApeCoin website promises that DAO members will vote for future board members. The Ape Foundation serves as the legal representative of the DAO. It is planned to grow even more decentralized over time and supports community-led governance. The Foundation handles day-to-day administration, bookkeeping, and project management, among other things. If you wish to invest in ApeCoin, keep in mind that NFTs and NFT-related coins are even more volatile than most cryptocurrencies, so it’s best not to make them a large portion of your portfolio.

The APE Coin Protocol

In addition to governance, ApeCoin has also been designed for utility where the token can be used for transactions and payments within Web3 applications. The purpose of the ApeCoin DAO is to facilitate and support the community-led proposals and ideas to become a reality for the holders. SourceAPE was launched by the ApeCoin DAO, a decentralised autonomous organisation that acts as a governing body in which all ApeCoin holders are members.

Designed identically to any other Web3 coin, ApeCoin can be used for payments. ApeCoin is technically acceptable by most merchants because it is a pervasive ERC-20 token. The coin is also already in use as NFT rewards, and holders with the BAYC receive free APE that they can immediately cash.

There’s something off about ApeCoin

APE token holders can participate in the ApeCoin DAO and vote on community-led initiatives to enhance the APE ecosystem. Holders can also buy BAYC, MAYC, and related NFTs using ApeCoin and play games like Benji Bananas. With the launch of the ‘Otherside’ metaverse, ApeCoin will also be used to purchase virtual lands, play games, and purchase services. So far, ApeCoin DAO has decided to use the IP to reward all of Yuga Labs’ earliest backers. On Thursday, the DAO gifted a healthy chunk of the 1 billion total ApeCoin tokens to Yuga Labs, Yuga Labs’ founders, and the VCs who backed the project.

It will serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse.” Or, if the project fails before it can sell or go public, the VC can earn a profit on an investment that would have otherwise been a loss. The creation of ApeCoin DAO, a new decentralized autonomous organization created to govern the token and its roadmap forward. Based on tweets from Yuga folks and board members, there was clearly a lot of attention put on precise and uniform messaging, likely for regulatory reasons. Bored Ape Yacht Club owners can now claim the token, which will have utility and governance capabilities—plus other potential benefits. With so much misinformation being circulated throughout the metaverse, it’s become more important than ever for Web3 communities to do their due diligence before jumping on a bandwagon.

Bored Ape Yacht Club has become one of the most popular NFT collections. BAYC is well-known for having a vibrant and active community of supporters. Because blockchain tokens are convertible to the dollar, the virtual economies they facilitate are real and dynamic. In contrast, token-like economies such as Roblox are isolated and static. They can be exchanged for other tokens used by other blockchain platforms.

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But a carefully coordinated marketing campaign has taken great pains to dissociate ApeCoin from any one conventional corporation. The ApeCoin website states that owners of MAYC were given 2,042 tokens worth approximately $21,970. DappRadar data shows that 532 wallets possess over two Bored Apes, and at least five wallets possess over what is apecoin 50 Bored Apes. The “launch contributors” will receive 140 million tokens (14%). These are the businesses and individuals who contributed to the success of this project. APE Foundation allocated 15% of this to holders of BAYC and MAYC, with BAYC holders eligible to claim 10,094 APE per NFT and MAYC holders eligible to claim 2,042.

The governance part refers to token holders’ voting rights on the direction of the ecosystem and partnerships. Airdropping tokens is a common marketing tactic to get new blockchain projects into people’s wallets. This attracts public scrutiny and triggers the FOMO instinct—fear of missing out. After all, we have seen multiple times how token appreciation can mint millionaires overnight based on wild price swings.

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Yuga Labs, well-known for founding the Bored Ape Yacht Club, actively participates in the ApeCoin DAO community. ApeCoin has become their main token for the projects they work on. ApeCoin is a Web3 coin that is functionally identical to all other coins.

The same principle applies to blockchain tokens as well—higher supply dilutes the demand, which devalues the token. Their price moves organically based on the market’s law of supply and demand, not arbitrary company policies. ” would draw attention to the identity of ApeCoin as the utility token of the ecosystem.

To complete this process a holder will need to own the NFT at the time of staking, commit the NFT utilizing $APE, and designate their paired pool if applicable. It might as well be noted that whether you stake an NFT or just straight-up ApeCoin, you’ll need $APE to engage with the staking system. 10 million https://xcritical.com/ tokens or their equal value will be donated to the Jane Goodall Legacy Foundation with an initial lock-up of 12 months, and 277,777.78 tokens unlocked per month for 36 months after that. 150 million will go to Yuga Labs under a 12-month lockup, and then 4,166,666.67 tokens unlocked per month for 36 months.

The APE ecosystem aims to build the future of Web 3.0 and the ApeCoin DAO as well as the APE Foundation work together to drive growth. The Board, a special council on the Foundation consisting of five members, performs an administrative role at the DAO’s behest. The time for launching useless cryptocurrencies and NFTs has passed. In today’s market, something like ApeCoin needs to show real value to remain relevant.

Use cases for ApeCoin

Cryptocurrency ApeCoin is also distributed to the DAO treasury alongside resources. ApeCoin crypto and its tokenomics, alongside its significance in the evolving NFT landscape. Easy Crypto wants to make it easy for anyone to get into the crypto market – no matter how much they have to invest. ApeCoin is heavily linked to two popular NFT collections by YugaLabs, Bored Ape Yacht Club and Mutant Ape Yacht Club .

• Yuga Labs adopting APE as the native token for the BAYC ecosystem was the biggest driver of APE price.
• ApeCoin is operated on the Ethereum blockchain – one of the most reliable blockchains that exist – and is an ERC-20 token, which is the most common token standard on Ethereum.
• Original BAYC NFT holders were handed 10,000 mutant serums in three tiers via airdrop to add the rarity of traits.
• The team recently released its proprietary ‘ApeCoin ’ crypto, which has attracted considerable interest since its debut.
• They will have the freedom to resell them whenever they wish and want.

The ApeCoin Foundation implements the governance decisions taken by the community. As an ERC-20 governance and utility token of the APE ecosystem, ApeCoin is administered by a decentralized autonomous organization, or DAO. Anyone holding the coin is allowed to cast their vote on the relevant governance decisions.

Interestingly, holders can sell or buy ApeCoin without any restrictions on a decentralized exchange, serving as a digital trading post for different cryptocurrencies. Buy and sell ApeCoin easily with Easy Crypto.Buy, sell, and exchange $APE along with 160+ other cryptocurrency coins and tokens at Easy Crypto. APE is a fungible, ERC-20 token built on the Ethereum blockchain. This represented one of the most valuable airdrops in crypto history at the time. In fact, each holder of a BAYC NFT was able to claim over $100,000 worth of APE at launch.

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The functionalities for serving as decentralized protocols can empower new innovations in the web3 landscape. To add to the popularity of these NFT collections, an airdrop to all holders of Bored Ape and Mutant Ape NFTs took place. For each Bored Ape NFT, 10,094 tokens were allocated and for each Mutant Ape NFT, 2042 tokens were allocated. The total supply of Apecoin is permanently fixed at 1 billion tokens, there are no plans to mint further tokens and APE has been designed with no burning capabilities – essentially cementing this supply cap. The tokens follow a concept known as “locked tokens”, which will limit the distribution of the coins to prevent mass sell offs, or dumping, and disrupt the price of the token. ApeCoin is a fungible ERC-20 token on the Ethereum blockchain that serves as a means of network governance and as a utility token for web3 projects.