What Is ApeCoin? Features, Tokenomics and Price Prediction

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How Is the ApeCoin Network Secured?

This already happened with Otherdeed NFTs—land plot NFTs costing 305 APE a piece when launched. The Bored Ape Yacht Club is living up to its name, as it is an exclusive club indeed. Since their first minting at a price of 0.08 ETH in April 2021, BAYC NFTs have reached a floor price of more than 100 ETH. You can buy or sell APE on various centralized exchanges (CEXs) and decentralized exchanges (DEXs). In keeping with values of equitable participation sought after in the growth of BAYC, ApeCoin is designed to be run in an inclusive and democratic way via the APE DAO. To help guide the project’s direction, the Ape Foundation will provide stewardship everything you need to know about apecoin during the project’s early stages.

Popular Tokens on the Ethereum Chain

Holders will be able to vote on relevant topics ranging from the allocation of funds to what future endeavors the DAO should embrace. Second, the token is supposed to be a unit of account for all sorts of transactions in the BAYC ecosystem. A third benefit the token has is the potential access it grants to holders for events and games that will be hosted by the BAYC in the future. Of the total supply, 15% of tokens were made immediately available to the BAYC and MAYC NFT holders upon launch, and 47% of tokens went to the DAO treasury. A further 15% was distributed to Yuga Labs, and 14% was reserved for investors and contributors to the project.

ApeCoin’s Future Value Projection

At time of launch, roughly 30% of the ApeCoin supply was in circulation, with the rest scheduled to be released over the next several years. Launched in March 2022, APE is an ERC-20 token utilized for ecosystem governance, utility, and a variety of benefits only accessible to APE crypto holders. The ApeCoin crypto project intends to fuel a web3 ecosystem that incorporates video games, art, entertainment, and memes, all while integrating the digital realm with the real world via in-person events and ApeCoin-branded goods.

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This is not surprising, as people count on an initial price boost to immediately sell it for huge profits. Of course, the selloff pressure created then has a domino effect on suppressing the price. Also, a token allocation has been reserved for people that have been working on the project.

What Is the Bored Ape Yacht Club?

In late April 2022, YugaLabs launched an auction for “land” in the Otherside. To kick off their ambitious goals, YugaLabs airdropped the newly minted ApeCoin to holders of Bored Apes. Based on the price at the time of the original airdrop that was about $70,000. YugaLabs used the blockchain to find all wallet addresses of Bored Ape buyers and deposited ApeCoin. Owners literally woke up on March 17th to tens of thousands of dollars in their wallets. ApeCoin (APE) is an Ethereum-based token linked to the Bored Ape Yacht Club NFTs.

• To appreciate the extent to which Arbitrum operates as a true extension of Ethereum, consider the historical balance of $ETH bridged into various ecosystems.
• After the DAO members vote on the proposals, the APE Foundation will proceed to carry out the community-led governance decisions.
• ApeCoin has recently captured the public’s attention like many other memecoins.
• For example, the Otherside recently launched an initial sale of digital real estate that could only be purchased with ApeCoin.
• Neither BAYC NFTs nor upcoming concrete software constitutes social media vaporware, which meme coins revolve around.
• Scalable content and utility are widely recognized as the best practices for driving the use of $APE and similar tokens.

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The utility part refers to using APE coins for whatever utility new projects demand. For example, ApeCoin will be used for a play-to-earn mobile game, Benji Bananas, owned by nWay. By doing this, Yuga Labs expanded the access to the coin but also created a code exploit. Suffice to say, the end result was a shadow on the team’s competence for future projects. When ApeCoin first airdropped on April 30, mostly to existing BAYC NFT holders, it gained up to $40 value on some exchanges, only to drop by 80%.

Horizen Labs will leverage its deep industry experience to advise and guide the ApeCoin DAO and community on the initial development of ApeChain’s ecosystem. These efforts will result in a coherent strategy for ApeChain’s growth, primarily focused on gaming. This proposal marks the initial steps toward realizing that vision.

Ten percent is given to Yuga Labs, 6% to charity, 14% to launch contributors, and 8% to the founders. When it comes to charity, the Jane Goodall Legacy Foundation will handle the funds provided for this purpose. Some commentators have pointed out that the token distribution might have been chosen in a way that benefits project insiders and the team since a lot of the DAO funds will also be controlled by them. This notable blockchain game leverages decentralized governance to increase accessibility and participation in the P2E gaming industry.

Designed with you in mind, Arbitrum is the leading Layer 2 technology that empowers you to explore and build in the largest Layer 1 ecosystem, Ethereum. Additionally, we propose including Yuga Labs as a member of the DAC considering its important role in the community. We envision an inaugural DAC of roughly 11 members and together with community input will add additional members.

While the company that launches blockchain tokens doesn’t directly affect its price, it does so indirectly. For example, Yuga Labs’ development of the Otherside platform increases ApeCoin’s utility value. Yuga Labs is a web3 company best known for the creation of the Bored Ape Yacht Club. It will be a community member in the ApeCoin DAO and adopt APE as the primary token across new projects.

Something along the lines of a funded 3 year Culture and Community Crew. If the chain + gaming narrative is a success then we will have millions (very bullish) of users buying/spending/holding as well. The market has responded to the underlying tech with confidence, as Arbitrum One currently commands over 50% of L2 market share and consistently ranks amongst the top chains with respect to daily economic activity. To appreciate the extent to which Arbitrum operates as a true extension of Ethereum, consider the historical balance of $ETH bridged into various ecosystems.

It is governed by the ApeCoin DAO and supported by the APE Foundation.

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. 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.

Scalable content and utility are widely recognized as the best practices for driving the use of $APE and similar tokens. However, every new chain, including ApeChain, requires comprehensive technology and solutions for developers and creators to build and launch successful, accessible content. APE Builder uniquely solves these needs and allows developers to build rewarding experiences leveraging ApeChain and $APE. It allows holders to participate in the ApeCoin DAO as a governance token. APE holders can also access exclusive features of the APE ecosystem, including games, merch, events, and services.