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14% of https://www.xcritical.com/ ApeCoin’s token supply, a total of 140 million $APE, went to launch contributors. These are the companies and people that helped make ApeCoin a reality. Yuga Labs and Charity make up 16%, or 160 million $APE, of ApeCoin’s total token supply.
ApeCoin (APE) Token Price Prediction and Future Outlook
Animoca Brands’ game Benji Bananas leverages ApeCoin in a play to earn style game. Also according to ApeCoin DAO, there will be future access to BAYC styled games, services and possible further airdrops. Animoca Brands and Yuga Labs have teased a Bored Ape secret project that would be powered by ApeCoin. This what is coin ape represented one of the most valuable airdrops in crypto history at the time.
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Those who own a Bored Ape can get 10,094 tokens, which is a good amount of money based on ApeCoin’s current trading price. Mutant Ape Yacht Club members are allowed to claim 2042 tokens for each Mutant Ape they possess. Additionally, since there is no burning capacity, the collection of coins does not decrease also. ApeCoin protocol, APE foundation, ApeCoin DAO, and special board are the main parts of the project. The Bored Ape NFT stays ahead of other standard NFT collections because of its real-time utility. So investors are optimistic about the power and the future of the ApeCoin.
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In technical terms, APE coin serves as a decentralized layer to realise initiatives brought forward from its own community as a form of self-governing Decentralised Autonomous Organisation or DAO. This meant that APE coin owners would be able to participate in this DAO using their APE tokens to vote. Buy, sell, and exchange $APE along with 160+ other cryptocurrency coins and tokens at Easy Crypto. 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. Holding APE makes users part of the Ape decentralized autonomous organization (ApeDAO), enabling them to vote on system improvement proposals and govern the community surrounding the token. Every holder of ApeCoin is eligible to become a member of the ApeCoin DAO.
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Let’s look at the NFT collections that are related to the APE ecosystem. It is governed by the ApeCoin DAO and supported by the APE Foundation. According to experts, ApeCoin owners are merely shareholders of an imaginary entity.
The Ecosystem Fund supports community-driven initiatives and was allocated 62% of the ApeCoin supply when launched. ApeCoin (APE) is an ERC-20 governance and utility token that serves a variety of functions within the APE ecosystem, which is made up of individual token holders and the products and services utilizing the token. It’s affiliated with a non-fungible token (NFT) project known as the Bored Ape Yacht Club (BAYC), a massively successful and valuable collection launched by Web3 company Yuga Labs. ApeCoin (APE) is an ERC 20 token inspired by the Bored Ape Yacht Club NFT project.
AIP-137 and AIP-138 outline the Board nomination and election processes. In line with the standard practice, a portion of the tokens for contributors tothe project will be initially locked. Locked tokens will be unlocked over aperiod of 48 months, in accordance with the predetermined unlock schedule in thechart below, starting on launch day, March 17, 2022. The APE Improvement Proposal Process (see Governance) will allowApeCoin DAO members to make decisions regarding Ecosystem Fund allocations,governance rules, projects, partnerships, and beyond. Because APE has a discrete value and is already trading on major exchanges, claiming these coins is a little like claiming free money. That’s around $150,000 at today’s prices – about half of what you’d need to buy yourself another Bored Ape.
ApeCoin can be staked to earn additional APE tokens, making ApeCoin a yield-generating crypto asset. All you need to do is connect your crypto wallet and start earning staking rewards. Cryptocurrency experts typically advise investors against leaving funds on a centralized exchange because exchange bankruptcies can lead to a complete loss of assets held with the company. Once you have funded your account, you click on ApeCoin in the list of tradable assets and place an order to buy the amount of APE you would like to purchase.
It allows holders to participate in the ApeCoin DAO as a governance token. APE holders can also access exclusive features of the APE ecosystem, including games, merch, events, and services. The ApeCoin DAO is a decentralized organization that allows all APE holders to vote on governance decisions related to the token. ApeCoin stands out in the crypto world with its governance and utility features.
ApeCoin is managed by a decentralized autonomous organization, or DAO, and serves as the APE ecosystem’s governance and utility token. Any person in possession of the coin is qualified to vote on the pertinent governance decisions. ApeCoin is deeply integrated with the Bored Ape Yacht Club (BAYC), one of the most recognized and high-profile NFT projects in the space. The creation of ApeCoin was a strategic move to provide a decentralized protocol layer for community governance and to support an expanding ecosystem of services and products related to the BAYC. The ApeCoin ecosystem is made up of individual token holders, as well as a wide range of products and services that are using the cryptocurrency.
The primary aim of ApeCoin is to facilitate the expansion and evolution of the Bored Ape Yacht Club ecosystem, emphasizing equitable and inclusive community-led growth. ApeCoin grants holders access to exclusive games and services within the Ape Ecosystem and can be used for transaction purposes on the Otherside metaverse. It also acts as a tool in which third-party developers can tap into the Ape Ecosystem by incorporating APE into their own projects, games, and services.
- Not only that, Ledger devices guarantee your private key stays offline – protecting you from even the most malicious of online threats.
- The DAO’s decisions are then implemented by the ApeCoin Foundation, which serves as the DAO’s legal representative and supports the growth of the ecosystem in various ways.
- BAYC is well-known for having a vibrant and active community of supporters.
- Subsequently, the unclaimed tokens would revert back to the Ecosystem Fund.
- This is why 10,000 mutant Apes were also minted for a public sale in August 2021 following the mutant serum airdrop.
- Each BAYC can only generate a single mutant from a single serum type, and the serum disappears after use.
Alternatively, you could purchase ApeCoin on a decentralized exchange by swapping another cryptocurrency for it. As APE is an ERC-20 token, you could swap Ethereum-based stablecoins or ETH on a decentralized exchange like Uniswap for ApeCoin, for example. Moreover, numerous crypto wallets also offer in-app token swapping, enabling you to swap other ERC-20 tokens for APE.
However, only time can reveal what would actually happen with ApeCoin in crypto world. Start learning more about the world of NFTs and different NFT collections. ApeCoin protocol enables access to different parts of the ecosystem, which you would have faced considerable difficulties in accessing. For example, the ApeCoin crypto can work as a gateway to exclusive services, games, events, and merchandise. The APE Foundation basically focuses on ensuring the growth of the APE ecosystem through a fair and inclusive approach.
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According to its official website, $APE is designed for and controlled by the community. It will operate as a decentralized protocol layer for community endeavors. 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. You must notice that ApeCoin works in accordance with the ERC-20 token standards.
Since its launch, ApeCoin APE has grown into one of the world’s leading digital currency platforms, praised for its user-friendly interface and robust security measures. Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles. Discover the impact of Yuga Labs’ crypto donations to Orangutan Outreach, a nonprofit focused on the rescue and rehab of apes in Borneo and Sumatra. Dive into the world of cryptocurrency and NFT philanthropy with our in-depth reports and guides.
ApeCoin has a fixed total supply of 1 billion APE tokens, which cannot be minted or burned. This means the number of ApeCoins in circulation will never go up or down. At the moment, there isn’t much you can do with APE directly except to trade it on several crypto exchanges. Despite plans for APE to be used as the primary token for all new services and products launched by Yuga Labs, many of these projects remain very much in development. The eventual core utility will be for third-party developers to create new apps in the APE ecosystem, integrating APE as a crypto and incentive for new services and products.