The first thing you need to do if you are looking to buy ApeCoin is to sign up for an exchange that supports the cryptocurrency. Currently, Binance, Coinbase, and Kraken are among the largest exchanges supporting APE. Another 47% of the total supply will be granted to the DAO https://www.xcritical.com/ treasury and resources, with much of that tally vesting over the next 48 months. The ApeCoin’s parent platform, the Bored Ape Yacht Club (BAYC), has had a strong start from the beginning and all the way into 2022.

BAYC, ApeCoin, & The Celebrity Community

The world of ApeCoin is pretty dynamic and is reshaping the digital landscape. Here you can discover the potential, and vision that makes ApeCoin more than just another digital token. Read on to grasp the essence and opportunities lying ahead in the ApeCoin universe. A lot of BAYC NFT holders are also holders of ApeCoin, sharing community and vision among the NFT collectors and DAO operators. Due to the large following of the Bored Ape Yacht Club and YugaLabs’ plans to make ApeCoin the default currency for all their web3 projects, this cryptocurrency might stick around. what is ape coin YugaLabs announced that the token will also be used as the governance token for the ApeCoin DAO.

• Because APE has a discrete value and is already trading on major exchanges, claiming these coins is a little like claiming free money.
• Balancing this association while establishing its own distinct identity will be a key challenge for the ApeCoin community.
• These developments can be seen in the Metaverse, blockchain gaming, digital art, and other decentralized spaces.
• ApeCoin seems to have stabilized but it’s still very early days in the token’s life.
• For example, a staking function for APE HODLers to earn passive income, more GameFi applications, or even collaborations with the other NFT IPs Yuga Labs owns.
• Projects on the Ethereum blockchain can easily communicate with other projects, using the functionality of other protocols to benefit your own.
• Yuga Labs is planning to use APE as the primary form of digital currency for all of its upcoming business endeavours.

OK, but what can I do with ApeCoin?

The ApeCoin community and DAO will need to stay agile, potentially adapting the token’s use cases or governance model to comply with emerging regulations while maintaining the project’s core principles. The ApeCoin DAO may allocate resources to fund promising projects, creating a virtuous cycle of development and adoption. Partnerships with established brands or platforms could also significantly expand the ecosystem’s reach. As these spaces continue to evolve, ApeCoin’s role is likely to expand and adapt, potentially opening up new use cases and opportunities for token holders and ecosystem participants. ApeCoin is often integrated into BAYC-related projects and experiences, enhancing its utility and demand.

Step 3: Select ApeCoin among the available assets and buy the token

Bored Ape Yacht Club NFTs are one of the most successful NFT projects to date. Their notoriety amongst celebrities and high-profile NFT collectors has bolstered their astronomic rise. The total supply of ApeCoin is permanently fixed at 1 billion tokens, all minted at once. ApeCoin is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. ApeCoin was founded to be used within the burgeoning APE Ecosystem, which is supported by the APE Foundation.

This governance model allows for democratic decision-making on various aspects of the ApeCoin ecosystem, including resource allocation, protocol upgrades, and partnerships. Holders of the token get to make their opinions heard in decisions concerning the ecosystem. And they also get members-only features that include access to games and events, among other things. ApeCoin (APE) is an Ethereum-based governance and utility token, and ApeCoin DAO administers it. ApeCoin DAO is a decentralized autonomous organization that makes decisions on actions the community must take regarding the APE ecosystem.

To purchase APE coins on a P2P exchange, you first need to choose a marketplace that supports ApeCoin, sign up for the platform, and complete the verification process. Next, scroll through the available offers to buy ApeCoin for a payment method that works for you. These marketplaces typically use  escrow to enhance security, but it’s still advisable to only trade with users with high trust ratings. And because ApeCoin is governed by a DAO, holders will have the ability to vote on community-led proposals that determine the future of the token. For example, there are already governance proposals regarding things like ecosystem fund allocation and staking rewards.

Additionally, Apecoin facilitates transactions within the APE ecosystem, acting as a medium of exchange for various services, products, and experiences exclusive to the community. This dual function as both a governance token and a medium of exchange sets Apecoin apart from many other cryptocurrencies. ApeCoin is a very recent cryptocurrency with a lot of its features and functionality still to come. Despite that, the token is already doing well and has significant backing through its parent companies and platforms — both financial and socially, with many backers in the form of household celebrity names.

With the added benefits of fractional investing, short selling, and up to 10x leverage, Morpher ensures that you have the tools to capitalize on market trends. Sign up today to take control of your investments and receive your free sign-up bonus. ApeCoin (APE) is a governance and utility token that offers holders certain incentives like being able to vote in the decision-making process in the APE ecosystem. Crypto exchanges are online trading platforms for digital assets that function in a similar way as online stock brokerage platforms, such as Fidelity or Charles Schwab.

By empowering its community through decentralized governance, ApeCoin aims to create a self-sustaining ecosystem that can adapt and thrive in the rapidly changing landscape of Web3 and beyond. This standard ensures compatibility with a wide range of wallets and exchanges. The total supply of ApeCoin is fixed at 1 billion tokens, with no ability to mint additional coins. This scarcity is designed to potentially increase the token’s value over time as demand grows.

APE’s usage as a payment option, the NFT rewards, and the exclusive features offered to holders are solid reasons to consider buying the token. The community behind the launch of ApeCoin has given investors faith in the asset. Art enthusiasts, gamers, and entertainment buffs are very likely to use the token. ApeCoin follows a locked token protocol to prevent the founders and other launch contributors from selling their tokens.

Yuga Labs is the creator of the trending Bored Ape Yacht Club (BAYC) NFT collections. It also owns the IP of another two popular NFT projects, CryptoPunks and Meebits. Prominently, Yuga Labs stands as a vital participant in this ecosystem, having chosen APE as the cornerstone token for its endeavours.

Moreover, Apecoin also employs additional security protocols like multi-signature wallets and regular security audits. These actions help protect user funds and foster trust within the community, ensuring that Apecoin remains a safe form of investment and transaction. In addition to these measures, Apecoin’s development team is committed to educating users about best practices for safeguarding their assets, such as using hardware wallets and enabling two-factor authentication. For instance, if a user wants to buy an NFT within the APE ecosystem using Apecoin, the transaction is seamless, instantaneous, and secure, thanks to the underlying blockchain technology.

There is a separate organisation within the Foundation known as the Board, and its job is to make sure that the goals and dreams of the community are brought to fulfilment. The founders of ApeCoin are officially referred to as “The Ape Foundation.” While the site holds a secretive tone, YugaLabs does have some involvement. One of the main founders of BAYC, Greg Solano, just spoke at Benzinga’s Future of Crypto event about some of his ideas and inspiration. However, it is yet to be shown if Yuga Labs knows how to manage that money properly. In fact, those interested in becoming a part of the APE ecosystem can take advantage of Otherside’s upcoming SDK (software development kit). If the price holds, and traders outside the Bored Ape Yacht Club ecosystem start taking positions in APE, you can expect the use cases to, uh, evolve.

The project’s ability to foster a vibrant developer community, form strategic partnerships, and continuously innovate will be crucial in determining its long-term success. In the context of Web3, ApeCoin represents a new model of community ownership and participation. By giving token holders a say in the ecosystem’s development, it embodies the Web3 principle of decentralized decision-making and user empowerment. Since its launch, ApeCoin has experienced significant volatility, characteristic of many cryptocurrencies. Its price has been influenced by various factors, including overall market conditions, developments within the APE ecosystem, and announcements related to partnerships or integrations. Developers can utilize ApeCoin as a payment method, reward token, or access key in their projects.

It’s affiliated with a non-fungible token (NFT) project known as the Bored Ape Yacht Club (BAYC), a massively successful and valuable collection launched by Web3 company Yuga Labs. ApeCoin DAO is a decentralized autonomous organization (DAO) for all APE token holders to participate in governance decisions. They can decide how to allocate the Ecosystem Fund, make governance rules, select projects, partnerships, etc. After the DAO members vote on the proposals, the APE Foundation will proceed to carry out the community-led governance decisions. As you consider the potential of Apecoin and the broader cryptocurrency market, why not take your trading experience to the next level with Morpher?