One of the most talked about crypto assets of recent days. ApeCoin (APE)is one of the most sought-after altcoins on social media as well as in crypto communities and crypto exchanges.
What is ApeCoin (APE)?
ApeCoin (APE) is a token designed to strengthen the decentralized community structure of the APE ecosystem. The APE ecosystem, on the other hand, is one of the most popular NFT collections on the Ethereum blockchain. Bored Ape Yacht Club (BAYC) and the Mutant Ape Yacht Clun (MAYC) community.
The Bored Ape Yacht Club NFT collection is not only the collection of the most valuable NFTs, but also includes 10,000 different monkey NFTs with completely unique features located on the Ethereum blockchain. Some NFTs have very high values as their properties are considered rarer by the community and the market. If you have an APE NFT, you can become a member of this exclusive club and receive future collections and even exclusive benefits.
Bored Ape NFTs have so far been one of the most notable collections in the NFT market, generating a total trading volume of $1.1 billion.
What is the Purpose of ApeCoin?
ApeCoin news was recently announced by Yuga Labs, a few days after Yuga Labs took a leading dominance in the NFT market after acquiring the rights to CryptoPunks and Meebits.
The company announced ApeCoin’s mission on the project’s Twitter account with the following words:
“We aim to be the culture, gaming and commerce token to be used to power building a decentralized community at the forefront of Web3.0.”
Why Is ApeCoin So Special?
ApeCoin, ApeCoin DAO It has a structure to be owned and operated by a community known as If you want to be a part of this community, all you have to do is to have ApeCoin.
APE, which is not one of the pioneers of Web3.0 and wants to create a decentralized community in this context, was introduced as an ERC-20 based governance and utility token for this purpose, and its working system was of course coded as proof of work (PoW). ApeCoin is the only existing governance token of this ecosystem and holders of this token can participate in the ApeCoin DAO. Owners will also gain access to certain sections such as exclusive games, products, events.
Yuga Labs, on the other hand, wants to launch various blockchain games and services using $APE in this context, and is currently considered the only official cryptocurrency of the token ecosystem.
The total supply of ApeCoin has been set at 1 billion tokens, and the total supply will not be allowed to increase through the contract interface. Likewise, the contract interface will not allow any reduction in supply. At the same time, although 30.25% of this supply will be circulated on March 17, the supply will be increased regularly after the launch.
How Can I Buy ApeCoin?
First of all, it is normal that you have seen the price of ApeCoin rise and fall very quickly, so you should definitely be careful if you want to jump on this hype train and make quick profits. Although this project seems to have a pretty good background, it will take time to find its own price as it is a fairly new project after all.
If you want to buy ApeCoin, you can choose decentralized exchanges like SushiSwap or you can use centralized exchanges that are listing $APE at the time of reading this news. APE will currently be listed on exchanges such as Coinbase, FTX, Binance, Kraken, Gate.io, ByBit, Huobi, and KuCoin.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.