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Let’s talk about ApeCoin (APE)! The recently listed ERC-20 token has been highly requested by our community and it was time to present the opportunity to all Coinmetro users. APE is both the governance and the utility token of the Ape ecosystem, best known for their 10,000 large unique NFT collection depicting hilarious ape cartoons. Months after launching in April 2021, the Bored Ape Yacht Club (BAYC) NFT collection attained huge popularity, with the likes of Jimmy Fallon and Eminem each paying hundreds of thousands of dollars for an ape NFT.
But the Ape ecosystem is much more than just a successful NFT collection. It is envisioned to function as a decentralized protocol layer, facilitating community-driven initiatives that propel forward art, gaming, entertainment, and events into the metaverse. The APE token is created to support future endeavors, governed and constructed by the community.
USD/EUR Pairs Available:
A Look Inside the Ape Ecosystem
The Ape ecosystem comprises the Ape Foundation and the ApeCoin DAO. The Foundation facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with channeling the decisions of the ApeCoin DAO, and is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community’s ideas have the support they need to become a reality.
The importance of decentralized governance in establishing and maintaining a globally distributed community is recognized as crucial to the success of the APE ecosystem. Any APE holder can become a member of the ApeCoin DAO and get involved in governance by voting on the proposals.
The project is supported by Yuga Labs, a Web3 company known for other successful NFT collections such as CryptoPunks, Meebits, and for the metaverse platform Otherside. Yuga Labs are also the biggest individual contributor to the project with 150,000,000 APE tokens (aprox. 16% of total) locked up initially.
📈 New Trading Pairs: APE/USD & APE/EUR 📈
Why Should I Hold APE?
APE is a token that serves both as a means of governance and utility, empowering a decentralized community to spearhead innovation in the Web3 space. The APE token holders work together to make decisions related to governance, by voting and deliberating on various matters including but not limited to fund allocation, rule-making, project selection, partnerships, and other relevant issues.
ApeCoin has a total, fixed and permanent supply of 1 billion tokens. The contract interface does not provide any minting capability, which means the total supply can never increase. Additionally, there is no token burning capability provided either, ensuring the total supply will never decrease.
APE also provides holders with access to certain parts of the Ape ecosystem that are otherwise unavailable, such as exclusive games and services. Moreover, the native token is a tool for third-party developers to join in and incorporate the asset into various Web3 services, games and other projects.
As far as the distribution of the tokens is concerned, 62% is held by the Ape ecosystem fund, 16% were locked up by Yuga Labs, while the remaining 14% and 8% were initially locked up by launch contributors and BAYC founders respectively.
Currently, APE has a market capitalization of $1,628,481,934, with a $1,628,481,934 24H trading volume and is sitting in position 35 as ranked by CoinMarketCap.
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