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ApeCoin is an ERC-20 token that acts as the governance token for ApeCoin DAO, a decentralized autonomous organization run by the community of APE holders. The APE Foundation carries out tasks assigned by ApeCoin DAO. APE is the result of the success of Yuga Labs, famous https://xcritical.com/ for generating the Bored Ape Yacht Club NFT series. It’s built on Ethereum’s ERC-20 token standard, and its address can be found here. The cryptocurrency is traded on some of the biggest exchanges, such as Binance, FTX, Huobi, KuCoin, Bybit, Kraken, and so forth.
Buy gift cards for your favorite brands and shops from the app or extension. Plus, ApeCoin gives you access to things you can’t get access to in any other way. It allows you to vote on decisions relating to the coin itself and lets you take on a greater role in the community. It is also something you will want to have if you are interested in any of the games or other experiences that rely on ApeCoin. Holders can use their status to gain access to parts of the ecosystem that others cannot.
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As the legal representative of the DAO, the ApeCoin Foundation facilitates the growth of the ecosystem. The Foundation has a special body called the Board that executes the community’s visions. The APE Board comprises five members from the technology and crypto community.
- So, you’re ready to jump into the world of cryptocurrencies and make a purchase of ApeCoin !
- 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.
- Bored Ape Yacht Club is a massively popular NFT collection released by Yuga Labs.
- Each BAYC can only generate a single mutant from a single serum type, and the serum disappears after use.
- It serves as shared and open money, which you can employ without using any centralized intermediaries.
- The ApeCoin ecosystem is made up of individual token holders, as well as a wide range of products and services that are using the cryptocurrency.
APE token holders take governance decisions collectively, casting their votes and deciding on issues like allocation of funds, framing of rules, partnerships, project selection and more. The ApeCoin Foundation implements the governance decisions taken by the community. At Coinsquare, we offer customers the power of easy transactions and cold storage security. We’re constantly organizing funds to ensure our customers trade instantly and securely.
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Ownership of BAYC has become an elite signifier, with celebrities such as Neymar and Madonna owning pieces. Ownership of a BAYC NFT can provide access to exclusive events and premium spaces. Currently, the floor price of a BAYC – meaning the lowest price you can get one at – is 98 ETH(approx Rs 1.05 crore).
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ApeCoin purpose and benefits
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. ApeCoin’s primary use is as a governance and utility token within the APE ecosystem. It allows holders to participate in DAO governance votes while also offering access to members-only features of the ecosystem like games, events and other services. It’s affiliated with a non-fungible token project known as the Bored Ape Yacht Club , a massively successful and valuable collection launched by Web3 company Yuga Labs. It has also enjoyed a consistent position in the top 100 coins by market cap since its inception.
Investing in ApeCoin is unlike investing in most cryptocurrencies. This is because the value of this cryptocurrency is tied up in so many different elements. You aren’t just investing in the coin itself; you are investing in the ecosystem. This number can never grow or shrink, as these tokens can neither be created nor destroyed.
What is ApeCoin (APE)?
At Kriptomat, it is our mission to bring the benefits of blockchain and cryptocurrency to everyone – and to do so in a manner that’s safe, secure, and incredibly user-friendly. New GameFi and NFT projects on the Bored Ape ecosystem will adopt ApeCoin as their primary token as well. Popular gaming firm Amonicabrands announced that it has adopted what is apecoin ApeCoin as the primary token of its play-to-earn project, Benji Bananas. The mobile game, which has already grossed over 50 million downloads, rewards players with native tokens which can be swapped for ApeCoin. Other projects growing under BAYC’s umbrella are also expected to adopt reward or participation tactics that incorporate ApeCoin.
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What is ApeCoin Token?
Here at Kriptomat, we’re thrilled to support both of these electronic options. Share your referral code with friends and you’ll each get €10 of FREE Bitcoin when they begin using their accounts. Introduce a friend to crypto and help us build the fastest-growing, simplest, safest crypto platform in Europe.
What is ApeCoin? (APE)
In fact, each holder of a BAYC NFT was able to claim over $100,000 worth of APE at launch. Holders of BAYC can claim 10,094 APE for each NFT they own, while MAYC holders are entitled to 2,042 APE. The remaining part will be released as a component of the DAO’s ecosystem fund.
