ApeCoin

Apecoin (APE) is a decentralized cryptocurrency, started in 2022 by the ApeCoin DAO. APE token is closely associated with Yuga Labs’ Bored Ape Yacht Club NFT project. Yuga Labs did not directly create Apecoin, but has adopted the token for its ecosystem. 

What can I do with Apecoin (APE)?

Compatible with the Ethereum network, APE, pronounced “Ayy-p” is an ERC-20 token. You can use APE to trade and stake digital currencies, as well as participate in the Ethereum network. Ethereum’s ecosystem is powered by technology called smart contracts.

What is a smart contract? 

A smart contract is a digital agreement written in computer code that lives on Apecoin's blockchain. It automatically does something when certain conditions are met. For example, if you send me 1 APE, the smart contract instantly sends you a digital artwork that I created. No human needs to be there to make it work, the smart contract follows the rules it was programmed with.

Why is the Ethereum blockchain important for Apecoin?

The Ethereum blockchain network is compatible with is a huge, secure, evergrowing ledger of smart contract transactions, which everyone can see, and is immutable. Once a traditional smart contract is created, it can't be altered. These types of smart contracts will always follow the original rules that they were programmed with. Upgradable smart contracts allow for changes to be made, adapting to new requirements, or fixing bugs.

What are the most popular uses for Apecoin (APE)?

APE is the utility and governance token for ApeCoin DAO and the ApeChain ecosystem. As a governance token, APE holders can participate in the ApeCoin DAO and vote on proposals e.g. about fund allocation and partnerships. ApeCoin is also used for token gating access to exclusive features: APE holders can access to member-only events, games, services, and other incentives. ApeCoin is also used as the in-game currency in blockchain-based games like Benji Bananas by Animoca Brands, and Legends of the Mara by Otherside Metaverse by Yuga Labs, where players can earn APE. ApeCoin holders can stake their APE to earn rewards. Some brands e.g. Gucci started accepting ApeCoin as a payment method for online purchases.