ApeCoin is an Ethereum token based on the Bored Ape Yacht Club project. APE is a token made for web3. It will serve as a decentralized protocol layer for community-led initiatives in the metaverse. Bored Ape Yacht Club or Mutant Ape Yacht Club NFT owners can claim free tokens. Each NFT gets an allocated number of tokens so multi -NFT owners get stacked rewards. Non-NFT holders can buy APE from popular exchanges like Coinbase, FTX and Gemini.
The total supply of ApeCoin is 1 billion tokens. No future minting or burning so the total supply will never increase or decrease. $APE can be used for payments Web3 transactions, even those not created or controlled by BAYC. Crypto game maker Animoca Brands has announced plans to integrate $APE into an upcoming project. NWay will use $APE in a play-to-earn game based on the BAYC. And Benji Bananas will implement $APE for token rewards.
ApeCoin DAO said some functions will be reserved exclusively for APE holders, such as upcoming games and services. Third-party developers can participate by incorporating $APE into services, games, and other projects.
$APE holders can vote on proposals that determine the future of the token. There are already governance proposals regarding fund allocation and staking rewards. The APE Foundation will administer the decisions of the ApeCoin DAO.