About ApeCoin (APE)

ApeCoin Frequently Asked Questions (FAQ)

What is the function of ApeCoin within the APE Ecosystem?


ApeCoin serves as the ecosystem's native token, facilitating governance, enabling holders to participate in decision-making, and acting as a utility token for transactions and interactions within the APE community, including games, events, and services.




How does ApeCoin empower its holders in terms of governance?


ApeCoin holders are empowered with governance rights through the ApeCoin DAO (Decentralized Autonomous Organization), where they can propose and vote on key decisions affecting the project. This allows token holders to actively participate in the ecosystem's development and direction.




Who is responsible for the founding of ApeCoin and what was the inspiration behind it?


ApeCoin was created by ApeCoin DAO, a decentralized organization where APE token holders govern themselves. It was inspired by the cultural impact of the Bored Ape Yacht Club (BAYC) and the broader Yuga Labs ecosystem, aiming to foster innovation and expansion in the Web3 space.




What role does the APE Foundation play in the ApeCoin DAO?


The APE Foundation serves as the legal steward of the ApeCoin DAO, facilitating the community's ideas and proposals by providing an administrative structure. It assists with the proposal process, helps in governance, and manages the day-to-day operations, ensuring compliance and implementation of decisions made by ApeCoin holders.




What are the specific utilities of ApeCoin in the APE Ecosystem?


ApeCoin serves as a utility token within the APE Ecosystem, enabling holders to participate in governance decisions, access exclusive games and services, and facilitate transactions across associated platforms such as the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). It is used for ecosystem incentives, governance voting, and potentially for future services such as digital goods and experiences.




How is the ApeCoin DAO structured in terms of member involvement and decision-making?


The ApeCoin DAO operates with a decentralized governance framework allowing APE token holders to participate as members. These members can propose governance actions and vote on proposals, with decision-making power proportional to the number of APE tokens they hold. The DAO employs a consensus-driven approach, and the collective decisions of members guide the actions and direction of the community.




What is unique about the governance model of ApeCoin compared to other cryptocurrencies?


ApeCoin's governance model is centered around the decentralized autonomous organization (DAO) structure, giving APE token holders a direct say in decision-making processes. This inclusive approach ensures that proposals & subsequent decisions reflect the community's interests, aiming for equitable and transparent governance unusual for the direct extent of influence holders have in a high-profile project.




How does ApeCoin integrate with third-party developers and their projects?


ApeCoin provides a decentralized protocol layer for community-led initiatives, allowing third-party developers to integrate ApeCoin into their projects as a utility token. This integration can be for governance, incentivization, or as a means of exchange within games, services, and other digital spaces. ApeCoin's open and permissionless nature enables developers to incorporate its use in various applications, fostering an ecosystem of innovation and expansion of the APE ecosystem.




What was the significance of the 1 of 1 NFT gifted by Yuga Labs to the APE Foundation?


The 1 of 1 NFT gifted by Yuga Labs to the APE Foundation served as a symbolic representation of the partnership and trust between Yuga Labs and the APE Foundation. It also signified the empowerment of the APE Foundation to oversee the ApeCoin ecosystem, as the NFT was a unique and culturally significant digital asset that could potentially be used to guide or influence decisions within the ecosystem.




What is the total supply of ApeCoin and how was it distributed upon launch?


The total supply of ApeCoin is capped at 1 billion tokens. Upon launch, the distribution was as follows: 62% to the ApeCoin community, including 15% to Bored Ape and Mutant Ape NFT holders, 14% to the contributors, 8% to the APE Ecosystem Fund, and 16% was allocated to the Yuga Labs and charity (6.75% to the Jane Goodall Legacy Foundation). Additionally, 16% was given to the launch contributors, and 14% to the ApeCoin DAO treasury, while the remaining 8% was reserved for the founders, with a 12-month lock-up period and a 36-month gradual release.




What security measures are in place for the ApeCoin network?


ApeCoin's security measures include smart contract audits to ensure code safety, decentralized governance to reduce single points of failure, and compliance with established blockchain security protocols. Additionally, the community-based DAO structure involves collective decision-making for updates and changes to the network, adding an extra layer of oversight and security.




Can the total supply of ApeCoin ever be changed or is it fixed permanently?


The total supply of ApeCoin is fixed permanently at 1 billion tokens, with no mechanism for increasing the supply. This is designed to prevent inflation and ensure scarcity.




What is the release schedule for ApeCoin following its initial launch?


ApeCoin's release schedule includes a total supply of 1 billion tokens, with a gradual distribution over time. Following its initial launch, tokens are allocated to different groups, with some having immediate availability and others vested over several years. For example, the Ecosystem Fund tokens release over time to support the project, and contributor tokens have a vesting period to ensure long-term alignment. Various allocations may have different release periods ranging from a few months up to several years.




What consensus mechanism does the ApeCoin network rely on for security?


ApeCoin does not have its own blockchain and therefore does not have a native consensus mechanism. It is a token that operates on the Ethereum blockchain.