ApeCoin
What Is ApeCoin?
ApeCoin (APE) is an ERC-20 token used within the APE ecosystem. ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO. ApeCoin will also be used to access games, merchandise, events, and services.
ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.
Who Are the Founders of ApeCoin?
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. The ApeCoin DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.
An administrative council within the APE Foundation (the “Board”), will carry out the decisions of ApeCoin DAO members. The Board is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the Community’s ideas have the support they need to become a reality. ApeCoin DAO members vote on Board members.
Who Are the Founders of ApeCoin?
ApeCoin is the APE Ecosystem’s governance token, allowing token holders to participate in ApeCoin DAO and giving its participants a shared and open currency that can be used without centralized intermediaries. 62% of all ApeCoin was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members.
ApeCoin also gives access to certain parts of the Ecosystem that are otherwise unavailable, like exclusive games and services. For third-party developers, ApeCoin is a tool to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects.
The APE Foundation was gifted a 1 of 1 NFT by Yuga Labs, the creators of Bored Ape Yacht Club. Yuga Labs has conveyed all rights and privileges to this NFT and its underlying artwork to the APE Foundation. The ApeCoin DAO members can decide how this intellectual property is used.
How Is the ApeCoin Network Secured?
ApeCoin is an ERC-20 token launched on the Ethereum blockchain. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism.
Tags:
Cryptocurrency