ApeCoin Crypto Governance and APE Tokenomics

The key point to remember is that APE is both a governance and a utility token for the upcoming Otherside metaverse platform. The governance part refers to token holders’ voting rights on the direction of the ecosystem and partnerships. APE is also a tool for third-party developers to participate in the APE ecosystem. They can incorporate the token into their services, games, and other projects as incentives. For example, APE is adopted as incentives for players in Benji Bananas, a play-to-earn mobile game https://www.xcritical.com/ developed by Animoca Brands.

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This group’s plans for the metaverse and web3 are undoubtedly ambitious and leading the way. However, More than one-third of the entire supply is in the hands of an exclusive group. The portrayal of the ApeCoin DAO everything you need to know about apecoin as being decentralized seems a bit misleading. The label means the assets are either new to the platform or have “relatively low trading volume” compared to other cryptocurrencies.

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• They can decide how to allocate the Ecosystem Fund, make governance rules, select projects, partnerships, etc.
• Since its launch in April 2021, Bored Ape Yacht Club (BAYC) has become one of the most popular NFT collections.
• 62% of all ApeCoin was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members.
• The Ape Foundation Board includes Reddit co-founder Alexis Ohanian, Yat Siu of developer and venture capital group Animoca Brands, and FTX investor Amy Wu, among others.
• We may request a tweet from the official ApeCoin account once the platform is launched but we’ll follow the current official process for submitting the request.
• When the company announced the minting of 55,000 parcels of digital real estate NFTs called “Otherdeeds,” they were priced in APE.

The Ape Foundation will serve as the legal steward of ApeCoin and administer the ApeCoin DAO decisions made by the community. The voting period has closed for this proposal and it has been accepted with a 99.99% pass rate. Please elaborate on your team’s expectations for deploying its tool suite, APE Builder, on the upcoming ApeChain.

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Any additional details may help to ensure smoothness during the Administrative Review. Launch partners will receive preferred pricing on any APE Builder technology they choose to use. @SequenceSam has responded to our questions and has provided consent to share them in this forum for the community. Follow this Topic as further updates will be posted here in the comments. In accordance with DAO-approved guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.

How Is the ApeCoin Network Secured?

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. The company previously partnered with Yuga Labs on a mobile game involving Bored Apes and Mutant Apes. “We’re beyond excited to be a contributor to ApeCoin, the official token of Bored Ape Yacht Club! Starting tomorrow, the BAYC community can use $APE to buy NFTs to activate play-to-earn for BenjiBananas,” the company tweeted. “We’re excited to announce we’ll be adopting ApeCoin in a new play-to-earn game that’s currently being developed by nWay,” the company tweeted.

ApeCoin’s Future Value Projection

The vision behind ApeCoin is to combine web3, gaming, internet culture, ecommerce, and NFTs in a way that also incorporates the physical realm, including branded physical goods such as clothing, books, and beverages. In the online realm, Yuga Labs has partnered with gaming company Animoca Brands to build out a library of play-to-earn (P2E) gaming titles that feature APE crypto payments and rewards systems. Yuga Labs is the company that developed BAYC, and went on to release the successful Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) NFT collections. The company also acquired the intellectual property (IP) rights of the popular CryptoPunks and Meebits NFT collections in March 2022. So while APE will be used as the primary token within the BAYC crypto ecosystem, it can also be used with other Yuga Labs-related projects. ApeCoin (APE 2.12%) is an Ethereum-based token linked to the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs).

What Is the Bored Ape Yacht Club?

Following these releases, the Ape Foundation chose Horizen Labs to build ApeStake (AIP-21 and AIP-22). Horizen Labs continues to provide management services related to the contracts for ApeStake today. 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 is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project.

AIP-418: APE Builder Developed by Sequence

The Foundation is tasked with fulfilling and handling DAO procedures that cannot be handled online or on-chain. 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. ApeCoin is designed to be used in any number of web3 and metaverse projects, but perhaps the most notable one (which came soon after ApeCoin’s release) was the release of Otherside land NFTs.

The Importance of APE Token Distribution

Sequence will provide technical and strategic support to all APE Builder developers in accordance with their tier of access, including technical, strategic, game design, and enterprise dedicated support. At the end of 2023, Sequence launched Sequence Builder to encapsulate all of the solutions in an easy-to-use no-code platform. We are proposing the creation of a white-labeled APE Builder to make building on ApeChain effortless and accessible. I am glad to see your proposal supports a multi chain future for $ape. In terms of games, I would first point to members of the DAC and Security Council. Also, note that Horizen Labs is currently working with Darewise on aspects of Life Beyond, while Arbitrum has a rich gaming ecosystem on their platforms.

Consequently, there will never be a situation in which an oversupply of tokens dilutes their value, as with fiat currency. In charge of APE distribution is the ApeCoin DAO, a decentralized autonomous organization. For this reason, ApeCoin will be gradually released, following a preset unlock schedule that started on March 17, 2022. Over a period of 48 months, a total of one billion APE coins will be unlocked as a circulating supply. Even more importantly, that one billion is a hard token supply cap. You may have noticed that the Federal Reserve increased its balance sheet by $4.6 trillion since 2020.

ApeCoin isn’t just a buy-and-hold crypto, though, and aims to integrate into the burgeoning play-to-earn gaming space, where people earn and trade crypto or NFTs inside video games. Already, ApeCoin is integrated into Benji Bananas, a mobile game by Animoca Brands. ApeCoin will also be integrated into an upcoming game developed by nWay, a company that has been around since 2011 but which Animoca acquired in 2019.

After all, we have seen multiple times how token appreciation can mint millionaires overnight based on wild price swings. While its name may nod to Bitcoin, the ApeCoin asset itself is more specifically a digital token built according to the Ethereum ERC-20 tokenization standard. ERC-20 is a popular token framework for creating the multi-functional, highly fungible tokens found throughout the Ethereum blockchain ecosystem. ApeCoin launched with a hard-capped supply of one billion APE tokens. No mechanism currently exists to further mint (create) or burn (destroy) these tokens, so its supply is expected to remain constant.

Bored Ape Yacht Club NFTs are one of the most successful NFT projects to date. Their notoriety amongst celebrities and high-profile NFT collectors has bolstered their astronomic rise. Soon after its launch, ApeCoin has become tradable on most major centralized and decentralized exchanges like Binance, Huobi Global, Coinbase Pro, or Uniswap. On the first day of trading, ApeCoin’s price shot up to 17.75 USD, while correcting to below 10 USD in the following days. Somnium Space is a virtual reality application built on the Ethereum blockchain that allows you to create, experience, and trade digital worlds and NFT assets.