What is Apecoin?
ApeCoin is a popular choice among investors looking to trade altcoins. However, before you Trade ApeCoin, it is essential that you know what you are investing in. Let's find out what's ApeCoin and how it works.
ApeCoin is an ERC-20 utility and governance token utilized in the APE Ecosystem to empower and incentivize the development of a decentralized community at the vanguard of web3. Members of the ApeCoin community vote on how the ApeCoin DAO Ecosystem Fund should be spent via the decentralized governance structure that manages the ApeCoin DAO. Proposals voted on by ApeCoin holders are managed by the APE Foundation.
How is ApeCoin different?
ApeCoin is the governance token of the APE Ecosystem, entitling token holders to take part in the ApeCoin DAO and providing its users with a decentralized, fungible currency. The Ecosystem Fund, which will fund community-driven activities as voted on by ApeCoin DAO members, received 62% of all ApeCoin.
There are several features of the Ecosystem that can only be accessed with ApeCoin, such as premium games and services. ApeCoin is a technology that allows outside developers to take part in the ecosystem by adding ApeCoin support to their own products, whether they are services, games, or anything else.
Yuga Labs, the company behind Bored Ape Yacht Club, donated a one-of-a-kind NFT to the APE Foundation. Yuga Labs has given the APE Foundation complete ownership of this NFT and the supporting artwork. The members of ApeCoin DAO get to make a choice on what happens to the Intellectual Property.
How many ApeCoin are in circulation?
ApeCoin has a total supply of 1 billion tokens, all of which were minted at the same time. The initial 30%.25 was distributed on March 17, 2022, the day of the token's launch. After the first launch day, this percentage will keep climbing at predetermined intervals over the next 48 months.
The total quantity of ApeCoins in circulation is subject to fluctuation for a variety of reasons, including but not limited to the aforementioned timetable and market conditions.
ApeCoin was released as an ERC-20 token on the Ethereum network. Thus, it is protected by Ethereum's proof of stake consensus process.
ApeCoin is a decentralized project modeled off Yuga Labs' Bored Ape Yacht Club. The APE Foundation created ApeCoin to utilize it inside the expanding APE Ecosystem. The ApeCoin DAO's objective is to provide open and permissionless governance among ApeCoin holders to construct and sustain the APE Ecosystem that benefits all parties involved.
The decisions made by ApeCoin DAO members will be implemented by an administrative council inside the APE Foundation (the "Board"). The Board is in charge of the Community's day-to-day operations, including managing finances, accounting, and projects. Those who participate in the ApeCoin DAO get a say in who serves on the Board.
Where Can You Buy ApeCoin?
ApeCoin is available on the licensed cryptocurrency exchange CryptoForce and several other national and international exchanges.
Disclaimer: Cryptocurrencies are highly volatile and subject to market, technical, and regulatory risks. Crypto trading requires one’s own diligence, and Cryptoforce will not be responsible for any losses incurred. Any information provided here should not be regarded as Cryptoforce’s technical or financial advice.