It is a utility and governance token of the APE environment that is based on ERC-20. It positions the decentralized APE community at the forefront of Web3. The ApeCoin DAO governs APE, which is funded by the APE Foundation. Token holders may use APE to vote on DAO governance proposals and gain access to special APE ecosystem features like games, events, and services. APE has also been dubbed the primary token for all future goods and services by Yuga Labs, the company behind the famous Bored Ape Yacht Club.

The APE Foundation's administrative committee will make decisions regarding the ApeCoin DAO member votes. The board is in charge of day-to-day administration, bookkeeping, project management, and other activities that guarantee the community's ideas receive the necessary backing to become a fact. Board members are elected by ApeCoin DAO members.

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How Does APE Work?

APE was created for the purpose of expanding the APE ecosystem. The ApeCoin DAO governs it, and the APE Foundation provides assistance. ApeCoin DAO is a decentralised autonomous organisation in which all APE token holders may vote on governance issues. They have the authority to disburse ecosystem funding, establish governance rules, pick initiatives and collaborations, and so on. Following the DAO members' approval of the proposals, the APE Foundation will carry out the community-led governance choices. The DAO's legal steward is the APE Foundation. As a result, the APE ecosystem is able to grow and develop in an equitable and inclusive way.

What Makes ApeCoin Unique?

Its members have a distributed and transparent currency that  they can utilize without involving centralized intermediaries. It is the governance token of the APE Ecosystem, allowing token holders to actively participate in its DAO. ApeCoin The DAO members voted to give 62 percent of all ApeCoin to the Ecosystem Fund, which will promote community-driven projects. ApeCoin also grants access to portions of the ecosystem that would normally be unavailable, such as unique games and services.Third-party contributions to the environment are embedded in services, games, and other initiatives.

How Many ApeCoins Are There In Circulation?

Tokens for ApeCoin are permanently issued in 1 billion units, which are all produced at once. 30.25 percent of this ApeCoin was in circulation when it was released on March 17, 2022. This proportion then began to rise at periodic intervals following the launch day for the next 48 months. According to the abovementioned timetable and a variety of market conditions, the number of ApeCoins in existence will fluctuate for a variety of reasons.

What Can APE Tokens Do?

Multiple functions are performed by ApeCoin currency in APE environment. As a governance token, it enables holders to participate in the ApeCoin DAO. APE holders can also have access to special APE ecosystem elements such as games, apparel, activities, and services. APE is a technology that allows third-party developers to join the APE environment. They can use the token as a reward for their services, games, and other ventures. APE, for instance, is used as a motivator for players in Benji Bananas, a play-to-earn mobile game created by Animoca Brands.

The Purpose Of The Ecosystem

Incentives, regulations, and access are provided to creators and users within the ecosystem through an open source protocol layer. APE allows developers to offer their own apps and products to the ecosystem. Holders will be able to participate in the DAO and will have access to unique sectors such as products and special events. APE also reduces the number of participating middlemen, resulting in a more decentralised system.

How To Buy APE?

ApeCoin (APE) can be purchased on Cryptocurrency exchanges like Binance, Coinbase, FTX, Kraken, OKX, and Binance US.  With trading pairings like APE/USDT and APE/BUSD, Binance now has the largest proportion of liquidity.

The Bottomline

The community anticipates that ApeCoin will receive additional services in the next few years, given Yuga Labs' adoption of the coin as its primary token. APE holders can make passive revenue, develop GameFi apps, or partner with Yuga Labs' other NFT IPs.
 

Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.