ApeCoin (APE) functions as the native governance token within the APE ecosystem, which includes the renowned Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT collections on the Ethereum blockchain. The ApeCoin team emphasizes that culture, art, gaming, entertainment, and events are evolving in the Web3 era, with APE being a community-driven token aimed at supporting future advancements.
What is ApeCoin (APE)?
APE is a token governed and created by its community with an aim to back initiatives that steer culture towards the metaverse. The APE Foundation oversees ApeCoin and acts as the core layer for ApeCoin holders in the ApeCoin DAO, although it does not hold a supervisory role. Its purpose is to facilitate decentralized and community-led governance, gradually becoming fully decentralized.
The Foundation manages the decisions of ApeCoin DAO and handles daily administration, bookkeeping, project management, and other duties to ensure the DAO community has the necessary support. Decentralized governance within ApeCoin DAO is deemed essential for creating and managing a globally distributed community, crucial for the success of the APE ecosystem.
What does ApeCoin DAO entail?
The DAO members will use the APE Improvement Proposal Process to make decisions related to Ecosystem Fund allocations, governance rules, projects, partnerships, and more. Membership in the ApeCoin DAO is open to all ApeCoin holders. APE is described as an ERC-20 governance and utility token within the APE ecosystem, supporting a decentralized community structure at the forefront of Web3.
Why has ApeCoin attracted significant attention?
APE Coin generated considerable buzz within the ecosystem, largely driven by the popularity of the NFT collections BAYC and MAYC. Seen as the cryptocurrency for these projects, APE captured investors‘ interest. Its subsequent listing on numerous cryptocurrency exchanges added to the excitement. The total supply of ApeCoin is fixed at 1 billion tokens, ensuring rarity and value over time.
Key Takeaways
Here are some actionable insights regarding ApeCoin:
- ApeCoin supports a decentralized community structure.
- Membership in ApeCoin DAO is accessible to all APE holders.
- The ApeCoin Foundation aids in decentralized governance and project management.
- APE Coin has a permanently fixed supply of 1 billion tokens.
- APE can be traded on several major cryptocurrency exchanges.
Users wishing to purchase APE Coin can do so through Binance, the world’s largest cryptocurrency trading platform by volume. After registering, transferring fiat money like dollars, users can trade APE in pairs such as Bitcoin (BTC), BUSD, and Tether (USDT). Additionally, users can place limit orders to buy APE at a desired price.