What is ApeCoin (APE)?
ApeCoin - The currency of the boring monkeys that allows you to make government decisions.
- ApeCoin (APE) is the APE ecosystem token from Yuga Labs, known for being the creator of Ape Yach Club, the NFT collection of 'boring monkeys'.
- All APE token holders will be able to make governance decisions and cast votes for the governance of the cryptocurrency.
- ApeCoin is now acceptable on most exchanges due to it being a generalized ERC.20 token.
ApeCoin Key Metrics (APE)
Cap de Mercado
About ApeCoin (APE)
ApeCoin (APE) is the native currency of Bored Ape Yacht Club (BAYC), developed by Yuga Labs. Bored Ape Yacht Club (BAYC) became known due to its 'bored monkey' NFTs, which managed to create a solid community in the year of 2021, thanks to some world figures buying NFTs of this type, such as Elon Musk, Eminem or Justin Bieber.
APE is considered as a DAO token, which allows the holders of this currency to make governance decisions collectively to make ideas about the future of the whole ecosystem. Each member and holder of an APE token can cast a vote on issues such as fund allocation, new rules and project selection. Once the voting is completed, ApeCoin Foundation is in charge of executing and implementing these governance decisions made by the community.
In addition, ApeCoin has a special body called 'Board', which has to implement all the changes that the community elected, with the oversight of a special committee. There are 5 members that form the APE Board, who are elected annually by the APE Token holders.
ApeCoin has 1 billion total tokens on offer, and it is forbidden to mint more tokens, so it is a deflationary currency. Also, there is no burn mechanism, so the initial supply will never go down, having additional control over its total price.
What is ApeCoin used for?
Mainly APE was taken as the token to be used for various purposes within the ecosystem. Every holder of an ApeCoin coin, besides decision making, will be able to use them within games, events, web3 services and even official merchandise of the foundation. In fact, ApeCoin is used as one of the most required payment methods when trading NFTs.
But, being designed within the ERC-20 chain, the coin can be used to pay with cryptocurrencies, trade on an exchange and trade it within various compatible platforms. That is why we can also say that it is a digital currency for traditional uses.
The most common use of APE is within video games, especially in the mobile market. Several play-to-earn (P2E) games use ApeCoin as a special token to send or receive rewards from their users, in addition to being an incentive for the winners of the weekly or monthly tournaments that these types of applications usually carry out.
Being a currency designed for web3, APE will be integrated to the different business opportunities in the metaverse. This is because due to its nature and development, ApeCoin will be a token used for transactions within these markets, in addition to the fact that it will be compatible with various metaverses due to its open legislation.
For TruBit Pro it is very important to be able to offer its users the widest list of trading pairs that adapt to the needs of each one of them. It is for this reason that APE/USDT arrives to our spot trading.