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ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem to support a decentralized community structure at the forefront of Web3.
What is ApeCoin (APE)?
According to statements, ApeCoin serves as the open-source protocol layer of the ecosystem, designed to serve various purposes:
- Governance: ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO.
- Spending Integration: ApeCoin serves as the utility token of the ecosystem, offering a common and open currency for all participants without intermediaries.
- Access: ApeCoin provides access to specific parts of the ecosystem, such as exclusive games, products, events, and services, that would otherwise be unavailable.
- Incentive: ApeCoin will be a tool to encourage third-party developers to integrate APE into services, games, and other projects, thereby participating in the ecosystem.
The total supply of ApeCoin is permanently fixed at 1 billion tokens. No minting capability will be available via the contract interface, so the total supply will never increase.
In line with standard practice, a portion of the tokens will initially be locked for contributors to the project. Locked tokens will unlock over a 48-month period starting from the launch date on March 17, 2022, following a predefined release schedule.
Additionally, the APE Foundation was awarded a 1-of-1 NFT by Yuga Labs, the creators of the Bored Ape Yacht Club. Yuga Labs transferred all rights and privileges to this NFT and its underlying artwork to the APE Foundation. According to statements, ApeCoin DAO can decide how to use this intellectual property.
Moreover, Yuga Labs will be a contributing entity to the APE ecosystem, helping create products and experiences for the ecosystem as a whole.
Where to Buy APE Coin?
APE Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. APE Coin is available on the Binance platform in trading pairs such as APE/BTC, APE/USDT, and APE/BUSD.
To purchase APE, you must first become a member of the Binance exchange. After completing the registration, you should transfer either cryptocurrency or fiat currency to your Binance wallet. Once the transfer is complete, you can buy APE Coin from any of the three trading pairs mentioned above. For purchasing through the APE/USDT pair, navigate to its interface, enter the desired amount in the limit section, and complete the transaction by placing a Buy APE order.
