What is ApeCoin (APE)

ApeCoin or APE (APE/USDT – Trade it here) is an ERC-20 governance and utility token used within the APE ecosystem to empower a decentralized community building at the forefront of web3.

What is ApeCoin (APE)
What is ApeCoin (APE)

ApeCoin Core Features

As the open-source protocol layer of the ecosystem, ApeCoin serves several purposes:

  • Governance – ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO.
  • Unification of Spend – ApeCoin is the ecosystem’s utility token, giving all its participants a shared and open currency that can be used without centralized intermediaries.
  • Access – ApeCoin provides access to certain parts of the ecosystem that are otherwise unavailable, such as exclusive games, merch, events, and services.
  • Incentivization – ApeCoin is a tool for third-party developers to participate in the ecosystem by incorporating APE into services, games, and other projects.

What is ApeCoin Ecosystem

The APE Foundation

The APE Foundation is the steward of ApeCoin. It is not an overseer, but the base layer on which ApeCoin holders in the ApeCoin DAO can build.

The Foundation facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with administering the decisions of the ApeCoin DAO, and is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community’s ideas have the support they need to become a reality.

The goal of the APE Foundation is to steward the growth and development of the APE ecosystem in a fair and inclusive way. It utilizes the Ecosystem Fund, which is controlled by a multisig wallet, to pay its expenses as directed by the ApeCoin DAO and provides an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.

The DAO

ApeCoin DAO exists because decentralized governance is critical to building and managing a globally dispersed community—and therefore critical to the success of the APE ecosystem.

The APE Improvement Proposal Process (see Governance) will allow ApeCoin DAO members to make decisions regarding Ecosystem Fund allocations, governance rules, projects, partnerships, and beyond. ApeCoin DAO membership is open to all ApeCoin holders.

The Board

A special council on the APE Foundation (the DAO’s “Board”) provides, at the behest of the ApeCoin DAO members, oversight of the Foundation administrators. The purpose of the Board is to administer DAO proposals and serve the vision of the community. It meets on proposals requiring administrative review under ApeCoin DAO rules. The initial Board serves a term of six months, after which DAO members will vote annually on Board members.

APE Tokenomics

The total supply of ApeCoin is permanently fixed at 1 billion tokens. No minting capability is exposed through the contract interface, thus the total supply will never increase. Similarly, the contract interface does not expose any token burning capability, so the total supply will never decrease.

15% of the total ApeCoin token supply allocated to BAYC/MAYC holders for claim will be transferred to a smart contract. Ownership of the contract will be transferred to a multisig wallet, which will be responsible for:

  • initiating the BAYC/MAYC/BAKC claim period
  • ending the claim period 90 days after launch
  • taking ownership of all unclaimed APE tokens at the end of the claim period
  • transferring these unclaimed tokens to the Coinbase Custody wallets that constitute the Ecosystem Fund

How to buy APE?

You can buy ApeCoin on MEXC following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  1. Search “APE” using the search bar to see the available trading pairs. Take APE/USDT as an example.
  1. Scroll down and go to the [Spot] box. Enter the amount of APE you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy APE] to confirm your order. You will find the purchased APE in your Spot Wallet.

For the comprehensive guide on buying CSPR and other available tokens, please visit special MEXC How to Buy Guides Section.

Recent APE Token Price & Performance

Launched on 2022 March 17th, coin is traded at $7.36. Since listed on MEXC in 2022, APE reached the highest price (ATH) of 26.19 USDT in April 2022. Back then, as Yuga Lab announced to launch its virtual land sales which are to be priced at APE, demand for the coin and NFTs rised, which led to the rise of APE price.

Interested in crypto like APE?

MEXC lists moonshot and provides access to trading of major crypto coins like ApeCoin, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

Share your love to MEXC Global
Default image
MEXC Blog
We are your first stop for high quality projects - Buy, Sell & Trade Cryptocurrencies, NFTs, Margin, ETF, Futures, DeFi!
Articles: 426
Read Learn Watch