ApeCoin (APE) is an ERC-20 token that serves as the native cryptocurrency for the ApeCoin DAO and the broader Yuga Labs ecosystem, which includes prominent NFT collections like Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC). Launched in 2022, APE functions as a governance token, empowering holders to participate in decision-making processes within the ApeCoin DAO.
The ApeCoin DAO operates as a decentralized autonomous organization where token holders vote on important issues such as ecosystem fund allocation, governance rules, and project partnerships. This structure is aimed at fostering a self-sustaining environment for the token and its associated projects.
Utility and Governance
ApeCoin is more than just a governance tool; it also serves multiple utility purposes within the Yuga Labs ecosystem. Holders can use the token to access exclusive games, events, merchandise, and services. In the digital realm, ApeCoin is used as a transactional currency within the Otherside metaverse, enabling purchases like virtual land and other in-game assets.
Tokenomics
ApeCoin has a capped supply of one billion tokens, ensuring no further minting. The token distribution includes 62% allocated to the ApeCoin DAO community, 16% to Yuga Labs, 14% to the protocol’s launch contributors, and 8% reserved for the founders. Notably, the allocations to Yuga Labs include a contribution to the Jane Goodall Legacy Foundation, emphasizing a charitable aspect of tokenomics.
Adoption and Integration
Beyond its internal use, ApeCoin is increasingly adopted by third-party developers who integrate the token into decentralized apps (dApps), games, and other Web3 projects. For instance, it’s used in the Benji Bananas game as a reward token, which players can earn and exchange for APE.
Market Position
Unlike meme coins with similar thematic elements, ApeCoin positions itself as a serious contender within the expanding metaverse and Web3 sectors, carving out niches that bridge digital and physical realms. This includes real-world brand partnerships with luxury goods and retail services, where ApeCoin is accepted as a form of payment.
ApeCoin exemplifies a multifaceted cryptocurrency with substantial utility and governance features, backed by a robust and vibrant community within the Yuga Labs ecosystem. Its comprehensive use across various platforms and its integration into the Otherside metaverse highlight its potential as a leading digital currency in both virtual and physical markets.
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You can buy ApeCoin by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if ApeCoin is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy ApeCoin, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have ApeCoin in their structure.
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$APE (Apecoin) is currently top 40 in market cap, readily available on all major exchanges and has tremendous upside.
@1c0n0m17TD please make $APE available to strategies!
Or better yet, we (strategy managers) need a structured way of proposing new assets to be added to the @1c0n0m17TD platform, as well as notifications as to when new assets are added.
and $SYS
@1c0n0m17TD Requesting $APE to be made available for strategies.
agree!