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ApeCoin FAQ
ApeCoin, a novel cryptocurrency introduced on the Ethereum network, functions as the native token within the APE ecosystem. This ecosystem incorporates the ApeCoin DAO and all APE services and products. The APE Foundation oversees the management of the token and the decision-making process within the ApeCoin DAO, where ApeCoin holders exclusively participate as voters, facilitated by the Foundation.
Apecoin has a capped total supply of 1 billion tokens. ApeCoin will not be burned, so its supply will never go down. The tokens are distributed among various groups within the ecosystem with varying lock-in periods to prevent their prices from falling drastically.
Easily buy APE tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include APE/USDT and APE/USDC.
Swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for APE with zero fees and no price slippage by using OKX Convert.
Dive deeper into ApeCoin
ApeCoin is an ERC-20, Ethereum-based token meme token. As a utility and governance token of the APE ecosystem and the popular non-fungible token (NFT), Bored Apes Yacht Club (BAYC), ApeCoin has numerous use cases. For example, ApeCoin holders can vote in the decentralized autonomous organization (DAO) and access exclusive merchandise, services, games, and events.
ApeCoin also incentivizes developers and participants on the network to incorporate it into their games and applications. It can also be used as a cryptocurrency, which serves as a means to transact within the ecosystem. The ApeCoin protocol is the code that runs ApeCoin.
The APE ecosystem comprises three important governance structures: Ape Foundation, ApeCoin DAO, and the ApeCoin DAO board. All three are essential in securing the network and making it open and permissionless. This makes it easier for users to collaborate and develop projects and applications on the open-source network.
ApeCoin price and tokenomics
The total supply of APE tokens is capped at 1 billion. Sixty-two percent of the tokens will be distributed towards the ApeCoin DAO community, with 15% allocated towards BAYC and MAYC NFT holders.
Sixteen percent will be channeled to Yuga Labs, with a portion allocated to primatologist Jane Goodall's charity foundation supporting real-life apes. Fourteen percent will go towards contributors who helped to launch the ApeCoin protocol. The remaining 8 percent will be set aside for the founders of Yuga Labs and BAYC.
Out of those mentioned above, 1 billion tokens, 26 percent, were unlocked immediately, while the others were to be unlocked gradually over 48 months. Additionally, the network has locked the tokens allotted to the launch contributors and the founders for 12 months. Lastly, the network has decided on a no-burn mechanism, securing a fixed supply of 1 billion tokens.
About the founders
Apecoin is a decentralized project based on Yuga Labs' BAYC. Yuga Labs was founded in 2021 by Greg Solano and Wylie Aronow and is behind one of the most prized and popular NFT collections, BAYC, which recently surpassed CryptoPunks.
Yuga Labs also launched Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC), which began selling for millions of dollars in the secondary markets. The most recent highlight of the company is its acquisition of CryptoPunks and Meebits, two incredibly successful NFT collections in the community.
Yuga Labs also recently announced the launch of Otherside, its new metaverse project that is being built in collaboration with Improbable and Animoca Brands.
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