ApeCoin DAO announced the launch of ApeCoin (APE), drop to current Bored Ape Yacht Club holders
After acquiring CryptoPunks and Meebits projects from Larva Labs recently, Bored Ape Yacht Club creators Yuga Labs is back for more, introducing a new token, ‘ApeCoin’ this week. It’s Yuga Labs’ first token for Bored Ape Yacht Club, one of the most dominant names in the NFT market.
What is ApeCoin?
It is self-described as a decentralized protocol layer for community-led initiatives that drive culture into the metaverse. The token will be supplemented with the ApeCoin DAO and ApeCoin Foundation. A special counsel has also been formed for the Foundation to serve as the DAO’s ‘board members,’ including Reddit co-founder Alexis Ohanian, FTX Head of Ventures & Gaming Amy Wu, co-founder and chairman of Animoca Brands Yat Siu, and more. All five board members are, of course, Bored Ape holders.
Introducing ApeCoin ($APE), a token for culture, gaming, and commerce used to empower a decentralized community building at the forefront of web3. 🧵
— ApeCoin (@apecoin) March 16, 2022
ApeCoin DAO will begin airdropping tokens on March 17
And today is that day. ApeCoin will be distributed to holders of BAYC NFT. It is set to be used as the main token in the new monetization gaming ecosystem from Yuga Labs and Animoca Brands.
And ApeCoin (APE) is an ERC-20 token created on the Ethereum platform, with a total supply of 1 billion tokens. 15% of the total supply of APE will be allocated to NFT BAYC and MAYC holders, 47% to community and ecosystem development funds, 16% to Yuga Labs (BAYC management unit), 14% to who built the project, and 8% to the founders of BAYC.
The airdrop claim consisting of 15% of the total supply of ApeCoin will be made available to @BoredApeYC NFT holders (Bored Apes and Mutant Apes, as well as #BAKC dogs paired with either #BAYC or #MAYC).
— ApeCoin (@apecoin) March 16, 2022
According to a Twitter thread from the official Coinbase Assets account, Coinbase will support APE on an experimental basis beginning tomorrow at 12:00 PM EST, assuming key liquidity thresholds are met. In addition, APE was also announced by many other major US exchanges such as FTX, Kraken, Gemini, Binance.US, etc., on March 17.
Sign up for a Binance account here (Discount 10% trading fees): https://accounts.binance.com/en/register?ref=29171587
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