What is ApeCoin (APE)? ApeCoin project overview and APE token token

• ApeCoin Overview
• What is ApeCoin?
• Features of ApeCoin
• How does ApeCoin work?
• The project's development team and partners
• APE . token overview
• What is APE Token?
• APE . Token Allocation
• How to earn and own APE . tokens
• APE . token release schedule
• APE . Token Exchange
• Should I invest in APE tokens?
• summary

ApeCoin Overview

What is ApeCoin?

ApeCoin acts as a decentralized protocol under the management of the community. The primary goal of this project is to create a metaverse space for crypto users. ApeCoin is the brainchild of Yuga Labs – a reputable business that owns the once-popular and expensive Bored Ape Yacht Club NFT collection.

The ApeCoin project integrates various activities such as games, culture and commerce. More specifically, this project gives full control and management of activities to the user community, creating a decentralized ecosystem of ApeCoin DAO.

ApeCoin can be seen as a gift for the user community of BAYC (Bored Ape Yacht Club) and MAYC (Mutant Ape Yacht Club). These are two of the hottest NFT collections on the Ethereum blockchain network. What makes this project different is that it only requires 1 holder to participate in voting on proposals and governance in the community.

With the ApeCoin project, you can participate in the BAYC and MAYC communities without having to own too many expensive NFTs. This is a strong point that makes the project more attractive.

Features of ApeCoin

Have a solid “launch pad”

The ApeCoin project is backed by a reputable organization in the cryptocurrency market called APE Foundation. The organization's mission is to review proposals and manage how ApeCoin works. In addition, APE Foundation also supports community development ideas from members.

APE Foundation's main funding is provided from an ecosystem fund controlled by multisig wallets. They are used to pay the costs required by the project. At the same time, this capital also has the function of providing infrastructure for holders when they participate in the governance process of the project.

Guaranteed Decentralization

The essence of ApeCoin is a DAO that brings together users around the world. Therefore, the existence of ApeCoin completely depends on the user community of the project. That means ApeCoin members will be allowed to organize metaverse events, build games or set up blockchain servers at their best.

The mission that the ApeCoin project sets out is to create a balance between productivity and governance activities. As a result, products launched on the platform can be more efficient and viable.

Applying The Board mechanism

The Board mechanism is the most optimal working mechanism of ApeCoin DAO. This mechanism is responsible for guiding the vision and managing the proposals of the community. The Board of Directors will usually serve a term of 6 months. After the term expires, the members of the DAO will vote and then choose a new member on The Board.

How does ApeCoin work?

With the ApeCoin DAO ecosystem, holders are distributed shares with the growth of the organization. To form the board of directors, the project will select members in Web 3.0 and experts in GameFi and technology. The Board of Directors has the main role of overseeing the decisions of members in the ecosystem.

The ApeCoin project has released an ecosystem native token called APE. Holders of this token will have the advantage of being able to buy or use products and services provided by the ApeCoin project. More specifically, the project is also used in Animoca Brands' Benji Bananas game.

The project's development team and partners

The development team of the ApeCoin project consists of prominent members.

• Alexis Ohanian: You are the co-founder of Reddit and Seven Seven Six.
• Amy Wu: This is one of the business and gaming frontrunners at FTX.
• Maaria Bajwa: You are the director of Sound Ventures.
• Yat Siu: Co-founder and president of Animoca Brands.
• Dean Steinbeck: President and advisor at Horizen Labs.

Information about the project's investors and partners is still being updated.

APE . token overview

What is APE Token?

• Token Name: ApeCoin
• Symbol: APE
• Blockchain: Ethereum
• Token type: Governance and utility
• Standard: ERC-20
• Total supply: 1,000,000,000 VND
• Total circulating supply: 284,843,750 APE

APE token is a utility and governance token belonging to the ApeCoin DAO ecosystem. This token has the role of supporting users to participate in governance and vote in the development process of the project.

In addition, when owning APE tokens, users will have the right to use BAYC's products and services. At the same time, these tokens also help holders to access new products in the future more quickly.

APE . Token Allocation

• Ecosystem fund accounts for 62%. In which, BAYC and MAYC accounted for 15% (equivalent to 150,000,000 APE) and DAO's funds and resources accounted for 47% (470,000,000 APE).
• Yuga Labs and charity: 16%. Specifically, Yuga Labs is 15% (150,000,000 APE) and Jane Goodall Legacy Foundation is 1% (10,000,000 APE).
• Launch Stage Contributors: 14% (140,000,000 APE).
• BAYC Founder: 8% (80,000,000 APE).

How to earn and own APE . tokens 

Up to now, the APE token has not had any private sale events. Despite this, the project also held a public sale on the Binance exchange. On March 17, 2022, trading pairs such as APE/BTC, APE/BUSD and APE/USDT were opened for sale. If you are interested in this token, buy it on Binance.

APE . token release schedule

• DAO Funds and Resources: 117,500,000 APE tokens locked after launch. Next, every month, 7,343,750 APE tokens will be unlocked. Unlock time for about 48 consecutive months.
• Yuga Labs: The first 12 months, APE tokens will be locked-up. Next, every month there will be 4,166,666.67 APE tokens unlocked. Unlock time in 36 months.
• Jane Goodall Legacy Foundation: In the first 12 months, APE tokens will be locked-up. After that, every month will unlock 277,777.78 APE tokens. Unlock time in 36 months.

Launch Stage Contributors:

• There are 10,000,000 APE tokens pre-distribution. Then, 25,000,000 APE tokens will be distributed after 6 months, 25,000,000 tokens will be distributed after 12 months, and 25,000,000 tokens will be distributed after 18 months.
• During the first 12 months, tokens will be locked-up and then unlock 757,575.76 tokens periodically every month. Unlock time in 33 months.
• For the first 12 months, tokens will be locked-up and then unlock 833,333.33 tokens periodically every month. Unlock time in 36 months.

APE . Token Exchange 

Currently, APE token has been listed on major exchanges such as Binance, KuCoin, Gate.io, Huobi, Coinbase Exchange, Uniswap...

Should I invest in APE tokens?

The ApeCoin project has a team that is the founding team of the NFT Bored Ape Yacht Club collection – a fairly large project, developed based on the management of the community. The APE token has the role of community governance and is airdropped to those who already own NFT BAYC.

When the NFT trend is widespread, the APE token has a lot of potential to explode. Although the APE token has certain advantages, co-founder Ya Siu also said that this is a type of memecoin, so investors need to consider carefully before making a decision to invest.

summary

The above article is all information about the ApeCoin project and the APE token that TraderH4 has provided. The main goal of this project is to develop the APE token into a token used to build a decentralized community at the top of the Web 3.0 platform. Hope the article has helped you better understand the ApeCoin project and make the right decision on whether to invest in APE tokens or not. Good luck.

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