ApeCoin (APE) is an ERC-20 tool and token for managing the APE ecosystem. Authorizes decentralized APE community building outside of Web 3.0.
APE manages ApeCoin DAO and supports the APE Foundation. With APE, token holders can vote on DAO management proposals and gain access to exclusive APE ecosystem features such as games, events and services.
Yuga Labs, maker of the popular Bored Ape Yacht Club (BAYC) NFT collections, has also adopted APE as the flagship of all new products and services.
Since its launch in April 2021, the Bored Ape Yacht Club (BAYC) has become one of the NFT’s most popular collections. BAYC is known for having a lively and active community of supporters.
What is ApeCoin (APE)?
ApeCoin (APE) is the management and usefulness of the APE ecosystem. It is a decentralized protocol layer that supports building an APE community over Web 3.0.
APE is an ERC-20 token with a total inventory of 1 billion tokens. It is run and built by the community. ApeCoin DAO is a decentralized organization that allows all APE holders to vote on token-related management decisions. In addition, APE has adopted Yuga Labs as a key indicator of all new products and services. Yuga Labs is a manufacturer of NFT’s Bored Ape Yacht Club (BAYC) trendy collections. It also has the IP of two other popular NFT projects, CryptoPunks and Meebits.
How does APE work?
APE was built for use in the growing APE ecosystem. It is managed by ApeCoin DAO and supported by the APE Foundation.
ApeCoin DAO is a decentralized autonomous organization (DAO) for all APE token holders who can participate in management decisions. They can decide how to allocate the Ecosystem Fund, create management rules, select projects, cooperate and so on. After the DAO members vote on the proposals, the APE Foundation will continue to implement the city leadership’s decision.
The APE Foundation is the DAO’s legal representative. It accelerates the growth and development of the APE ecosystem in an honest and inclusive way. There is a special board in the foundation called the Board of Trustees. Its task is to ensure the implementation of the vision of the municipality. The board consists of 5 members of the technology and crypto community, including Reddit co-founder Alexis Ohanian. The first members of the Board of Directors will serve as the decentralized Board of Directors for 6 months before APE holders vote on new members of the Board of Directors each year.
What is the APE ecosystem?
The APE ecosystem consists of the owners of the ApeCoin community and all products and services that use the APE.
Yuga Labs is a web3 company best known for creating the Bored Ape Yacht Club. It can be a member of the ApeCoin DAO community and has adopted APE as a key indicator of new projects. With the launch of ApeCoin, Bored Ape Yacht Club and Mutant Ape Yacht Club NFT holders will have the right to jointly own 15% of ApeCoin’s offering (150 million tokens out of a total of 1 billion tokens offered). Let’s take a look at the NFT collections related to the APE ecosystem.
Bored Ape Yacht Club (BAYC)
Launched in April 2021, the Bored Ape Yacht Club (BAYC) is the first NFT collection in the APE ecosystem. He has 10,000 unique monkeys on the Ethereum blockchain. Each monkey has a unique look, style and rarity.
Mutant Ape Yacht Club (MAYC)
Mutant Monkey Yacht Club (MAYC) is an NFT collection of up to 20,000 mutated versions of the original BAYC Monkeys. 10,000 mutant sera were dripped into the original BAYC NFT holder, and three layers of sera added uniqueness to the properties. With the different serum levels they receive, BAYC owners can produce different types of mutant monkeys. Each BAYC can produce only one mutant from one type of serum and the serum disappears after use.
MAYC is also a way to welcome many new members of the APE community. That is why 10,000 mutant monkeys were also produced for public sale in August 2021 after the landing of the mutant serum. Kennel Club Bored Ape (BAKC) The Bored Ape Kennel Club (BAKC) is an NFT dog collection available to every BAYC member. For every Bored Ape NFT they have, holders can “adopt” any Club Dog NFT for free and pay only the gas fee. Like the Monkeys, the 10,000 BAKC NFT has various qualities and are unique.
What can APE tokens do?
The ApeCoin token serves many purposes in the APE ecosystem. Allows holders to participate in ApeCoin DAO as a management token. APE holders will also have access to the exclusive features of the APE ecosystem, including games, goods, events and services.
APE is also a tool for third-party developers to participate in the APE ecosystem. They can include a token in their services, games and other projects as incentives. For example, APE was adopted as an incentive for Benji Bananas, a mobile game created by Animoca Brands. Benji Bananas offers a membership card (“Benji Pass”), NFT, which allows its owners to earn special tokens while playing Benji Bananas, and which also allows them to exchange these tokens for ApeCoin.
How can you buy APE at Binance?
You can buy ApeCoin (APE) on cryptocurrency exchanges such as Binance.
1. Log in to your Binance account and click on Trade. Start by choosing Classic or Advanced Trading Mode.
2. Enter “APE” in the search box to see available trading pairs. Let’s use APE / BUSD as an example.
3. Goto to the [Spot] field and enter the amount of APE you want to purchase. In this example, we will use a market order. Click on [Buy APE] to confirm your order and the purchased APE will be credited to your Spot Wallet.