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.
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.
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 development team of the ApeCoin project consists of prominent members.
Information about the project's investors and partners is still being updated.
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.
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.
Launch Stage Contributors:
Currently, APE token has been listed on major exchanges such as Binance, KuCoin, Gate.io, Huobi, Coinbase Exchange, Uniswap...
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.
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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