ApeCoin (APE)

About ApeCoin (APE)

ApeCoin (APE) is an ERC-20 token used within the APE ecosystem. ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO. ApeCoin will also be used to access games, merchandise, events, and services.

What is ApeCoin  (APE)?

ApeCoin (APE) is an ERC-20 governance and utility token that operates within the APE Ecosystem, aiming to empower and incentivize a decentralized community participating in the web3 space. 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. The total supply of ApeCoin is permanently fixed at 1 billion tokens, all minted at once. ApeCoin is an open-source protocol layer of the ecosystem, serving several purposes such as governance, unification of spend, access, and incentivization.

How does ApeCoin (APE) work?

ApeCoin (APE) operates as the APE Ecosystem’s governance token, allowing token holders to participate in ApeCoin DAO. It is also the ecosystem’s utility token, giving all its participants a shared and open currency that can be used without centralized intermediaries. ApeCoin provides access to certain parts of the ecosystem that are otherwise unavailable, such as exclusive games, merch, events, and services. It also serves as a tool for third-party developers to participate in the ecosystem by incorporating APE into services, games, and other projects. ApeCoin is an ERC-20 token that operates on the Ethereum blockchain.

What are the potential use cases for ApeCoin (APE)?

ApeCoin aims to serve as a decentralized protocol layer for community-led initiatives that contribute to the development of the metaverse. It provides access to certain parts of the APE Ecosystem that are otherwise unavailable, like exclusive games and services. For third-party developers, ApeCoin is a tool to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects. ApeCoin holders can also participate in the ApeCoin DAO, voting on how the ApeCoin DAO Ecosystem Fund should be used.

What is the history of ApeCoin (APE)?

ApeCoin (APE) 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 ApeCoin DAO aims to build and maintain the APE Ecosystem through its governance processes, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes. 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. The total supply of ApeCoin is permanently fixed at 1 billion tokens, all minted at once.