Apecoin was Officially Released as the Official Token of the BAYC

With the recent news of the acquisition of cryptopunks and Meebits by Yuga labs, founder of bored ape Yacht Club, and the announcement of payc’s official token apecoin, people’s excitement continues.

The Apecoin

Apecoin (APE) is a token for culture, games and business, which is used to enhance the decentralized community construction at the forefront of Web3. Apecoin is owned and operated by apecoin Dao. It is a decentralized organization. Ape token holders can vote on the management and use of ecosystem funds.
Ape is a token created by bayc to support the next step of this popular NFT brand. Ape is controlled and constructed by the community and will be used as the decentralized protocol layer dominated by the community, aiming to promote the development of culture to meta space.

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Definition of Ape Foundation

The ape foundation promotes community led governance and aims to become more decentralized over time. The mission of the foundation is to implement the decisions of apecoin Dao and be responsible for daily management, bookkeeping, project management and other tasks.

In essence, the ape foundation is the foundation layer that apecoin holders and apecoin Dao members can establish. The main goal of the ape foundation is to further develop the ape ecosystem in an equitable manner.

In addition, a multsig wallet controls the ecosystem fund to pay its fees under the apecoin Dao directive and provides a basis for apecoin holders to cooperate through an open and unlicensed governance process.

 ApeCoin DAO

Apecoin Dao is very important for the establishment and maintenance of global distributed ecosystem, and is ultimately responsible for the success of ape ecosystem. Members of apecoin Dao will use fund allocation to make decisions, including governance rules, projects, partnerships and many other aspects.
It is worth noting that to become a member of apecoin Dao, you only need to hold your own apecoin token.

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Apecoin Protocol

Considering that apecoin is the open source protocol layer of ape ecosystem, apecoin provides many uses, including.

• Government. Apecoin allows apecoin holders to participate in apecoin Dao.
• Unified consumption. Apecoin as a practical and governance token of ape ecosystem. This means that all participants have a shared and open currency that can be used without a centralized intermediary.
• Access . Apecoin provides unique access to specific parts of the ape ecosystem that would otherwise be unavailable, including exclusive games, goods, events and services.
  Incentives. Apecoin also serves as a tool for third-party developers to participate in the ecosystem by integrating apecoin into their services, games and other platforms. A direct example of third-party participation comes from Animoca brand’s game Benji Banas, which is a free adventure mobile game. Players can earn tokens and exchange them for apecoin!