On March 17, Yuga Labs, the parent company of BAYC, officially launched ApeCoin (APE), a token related to the Bored Ape Yacht Club NFT ecosystem.
ApeCoin is a token for culture, gaming, and commerce to build decentralized communities at the forefront of Web3.
It is not run by its development team and is owned and operated by the decentralized organization ApeCoin DAO. Each token holder can vote on how the ecosystem fund is governed and used, and the only requirement for members is to hold ApeCoin.
The ApeCoin DAO is supported by the Ape Foundation, which was established to act as its legal steward and govern decisions made by the community.
It has a total supply of 1 billion tokens, of which 62% will be allocated to the ApeCoin community, a portion of which (15% of the total supply) will start at 8:30 ET (20:30 GMT) on March 17 receive.
An airdrop of 15% of its total supply will be given to BAYC/MAYC NFT holders (Bored Apes and Mutant Apes, and BAKC dogs paired with BAYC or MAYC).
The team stated that ApeCoin will be available to everyone and will start listing on major crypto exchanges as soon as possible.
At present, Gemini, Kraken, Binance.US, etc. have announced that they will list ApeCoin.
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