APE is governed by the ApeCoin DAO and supported by the APE Foundation. With APE, token holders can vote on governance proposals on the DAO and access exclusive features of the APE ecosystem, such as games, events, and services.
Yuga Labs, the creator of the popular Bored Ape Yacht Club (BAYC) NFT collections, has also adopted APE as the primary token for all new products and services.
What is ApeCoin (APE)?
APE is an ERC-20 token with a total supply of 1 billion tokens. It is controlled and built on by the community. The ApeCoin DAO is a decentralized organization that allows all APE holders to vote on governance decisions related to the token.
In addition, APE is adopted by Yuga Labs as the primary token for all new products and services. 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.
How does APE work?
APE was founded to be used within the growing APE ecosystem. It is governed by the ApeCoin DAO and supported by the APE Foundation.
The APE Foundation is the legal steward of the DAO. It facilitates the growth and development of the APE ecosystem in a fair and inclusive way. At the Foundation, there is a special council called the Board. It is tasked with ensuring that the community's visions are implemented. The Board consists of 5 members from the tech and crypto community, including Reddit co-founder Alexis Ohanian. As a decentralized Board, the initial Board members will serve for 6 months before APE holders vote for new Board members on an annual basis.
What is the APE ecosystem?
The APE ecosystem is made up of the community holders of ApeCoin, and all products & services utilizing APE.
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. Upon the launch of ApeCoin, holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs were entitled to collectively claim 15% of the ApeCoin supply (150 million tokens of the 1 billion total tokens in supply).
Let’s look at the NFT collections that are related to the APE ecosystem.
Bored Ape Yacht Club (BAYC)
Mutant Ape Yacht Club (MAYC)
The MAYC was also a means to welcome more new members to the APE community. This is why 10,000 mutant Apes were also minted for a public sale in August 2021 following the mutant serum airdrop.
Bored Ape Kennel Club (BAKC)
Bored Ape Kennel Club (BAKC) is a collection of dog NFTs that were made available to every single member of the BAYC. For each Bored Ape NFT they own, holders could “adopt” a random Club Dog NFT for free, only paying a gas fee. Like the Apes, the 10,000 BAKC NFTs have various attributes and rarities.
What can APE tokens do?
The ApeCoin token serves several purposes in the APE ecosystem. 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.
How to buy APE on Binance?
1. Log in to your Binance account and click [Trade]. Select either the classic or advanced trading mode to start.