ApeKin, ApeChain, and ApeCoin’s marks will only be used for the white labeling of the platform, marketing, and tutorials for APE Builder and not commercialized. The community feedback period for your proposal would be ending in less than 24 hours. Founded in 2017, Sequence is an OG of web3 gaming and blockchain infrastructure innovation. Sequence is working closely with Arbitrum and Horizen Labs to ensure a everything you need to know about apecoin smooth integration of ApeChain testnet and mainnet with the Sequence stack and APE Builder.

AIP-418: APE Builder Developed by Sequence

ApeCoin also gives access to certain parts of the Ecosystem that are otherwise unavailable, like exclusive games and https://www.xcritical.com/ services. For third-party developers, ApeCoin is a tool to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects. ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.

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If you would like to know where to buy ApeCoin at the current rate, the top cryptocurrency exchanges for trading in ApeCoin stock are currently Binance, BTCC, Hotcoin, Bybit, and OKX. This percentage will continually increase following launch day at regular intervals over a 48-month period. The total supply of ApeCoin is permanently fixed at 1 billion tokens, all minted at once. In turn, greater utility translates to increased token value because it can be used for more things, increasing the demand for the token, which increases its price.

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We will outline some of the potential considerations and related tradeoffs, and organize community calls for interested community members to voice their opinions. We would expect these votes to be completed 3-4 weeks after our proposal’s approval. ApeCoin will be the default currency for all things related to the Bored Ape community.

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Yuga Labs is the creator of the trending Bored Ape Yacht Club (BAYC) NFT collections. It also owns the IP of another two popular NFT projects, CryptoPunks and Meebits. This is assured in perpetuity by the Ethereum-based smart contract responsible for the cryptocurrency’s creation, which does not allow for minting (creating) or burning (destroying) of tokens. When the company announced the minting of 55,000 parcels of digital real estate NFTs called “Otherdeeds,” they were priced in APE. In total, Yuga Labs generated more than $300 million through the sale—all transacted in ApeCoin. Holding APE makes users part of the Ape decentralized autonomous organization (ApeDAO), enabling them to vote on system improvement proposals and govern the community surrounding the token.

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Forty-seven percent of the token supply is going into the ApeCoin treasury, while 15%, as already mentioned, has been airdropped to NFT holders. The company behind ApeCoin as well as the Bored Ape Yacht Club is Yuga Labs, a company based in the U.S. Apart from the successful rise of their NFT collections, Yuga Labs had gained further attention for the first time back in December 2021, when they announced a partnership with adidas.

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For select partners, Sequence can extend a unique commercial structure which removes all out of pocket costs for developers and instead further aligns the partnership around the success of the game based on primary and secondary sales. I’ll just add that we evaluated a few proposals before supporting this one. Beyond the merits of the tech and team behind it with Offchain Labs (both huge pros), having $APE as gas was what I thought was most important for an ApeChain. Yes, there are some frictions when moving to/from an L2, but the benefit of having potentially millions of users holding $APE to participate on-chain are huge. Following the approval of this proposal, we will collect input from the community on the finer details of the chain’s configuration and put those details to vote on the ApeCoin DAO Snapshot. In the first week, we plan to share a full recommendation and outline the various decisions that will fall to the DAO.

Over time the company has helped the community launch major initiatives, including ApeCoin, Otherside, and ApeStake within the Ape Ecosystem. As such, the company is committed to enhancing the utility of ApeCoin and guiding successful decisions on the technical, economic, and ecosystem growth aspects of any ApeChain proposal. Airdropping tokens is a common marketing tactic to get new blockchain projects into people’s wallets. This attracts public scrutiny and triggers the FOMO instinct—fear of missing out.

Connection Between ApeCoin and Bored Ape Yacht Club

• Their role is to ensure the implementation of decisions made by the ApeDAO, which is governed by holders of the APE token.
• The opinions and views expressed in any Cryptopedia article are solely those of the author(s) and do not reflect the opinions of Gemini or its management.
• The community feedback period for your proposal would be ending in less than 24 hours.
• Owners literally woke up on March 17th to tens of thousands of dollars in their wallets.
• Consequently, there will never be a situation in which an oversupply of tokens dilutes their value, as with fiat currency.

ApeCoin’s launch was rather hyped, not least because 15% of its entire token supply was airdropped to its community. According to Dune Analytics, in the first two weeks after the launch, more than 90% of all eligible addresses had claimed the ApeCoin airdrop. It facilitates the growth and development of the APE ecosystem in a fair and inclusive way. It is tasked with ensuring that the community’s visions are implemented.

Neither BAYC NFTs nor upcoming concrete software constitutes social media vaporware, which meme coins revolve around. However, it is yet to be shown if Yuga Labs knows how to manage that money properly. If you want to purchase a Bored Ape in May 2022, you would need roughly $300,000 for the cheapest one. The MAYC was also a means to welcome more new members to the APE community. This is why 10,000 mutant Apes were also minted for a public sale in August 2021 following the mutant serum airdrop. Let’s look at the NFT collections that are related to the APE ecosystem.

We may request a tweet from the official ApeCoin account once the platform is launched but we’ll follow the current official process for submitting the request. We are excited to accelerate the adoption of ApeChain and the usage of $APE, and reduce barriers for developers and players to create and enjoy the best games on ApeChain. The value of ApeCoin immediately spiked to nearly $40 USD on Coinbase, according to data from the exchange, before dropping to around $8. The price action on decentralized exchanges like Uniswap was more measured, according to Dextools.io, although they are still seeing downward pressure.

Since its launch in April 2021, Bored Ape Yacht Club (BAYC) has become one of the most popular NFT collections. BAYC is well-known for having a vibrant and active community of supporters. Yuga Labs, the creator of the popular Bored Ape Yacht Club (BAYC) NFT collections, has also adopted APE as the primary token for all new products and services. Meanwhile, although BAYC creator Yuga Labs doesn’t control ApeCoin, its founders did receive a significant portion of the total supply of APE and the company is listed as a contributor to the project.

Our goal is for APE Builder to be available for developers on or close to the launch of ApeChain mainnet and testnet respectively. The Sequence team is adept at integrating with new networks, and has a formalized process for deploying the entire stack on new networks with speed and efficiency. Sequence’s Terms of Use indicate that builders are responsible for complying with all applicable laws in their use of Sequence. Sequence does not have a mechanism for content moderation, similar to the permissionless nature of ApeChain itself. However, we are happy to add these Guidelines to the APE Builder, and work with the DAO to address content of concern flagged by the community. It is this process of identifying the gaps and creating the solutions that has made Sequence a leader in web3 gaming, and with the collaboration of the ApeCoin DAO community we are excited to see gaming flourish on ApeChain.

Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. After review, this Topic submitted by @SequenceSam is ready for vote under AIP-418. The proposal will be posted on Snapshot at the next weekly release date and time, which is the first and third Thursday of the month at 9PM EST.

With APE, token holders can vote on governance proposals on the DAO and access exclusive features of the APE ecosystem, such as games, events, and services. For example, the Otherside recently launched an initial sale of digital real estate that could only be purchased with ApeCoin. Additionally, there are plans for ApeCoin to be integrated as a form of payment in YugaLabs-based metaverse games. The ApeCoin community put its trust in ApeChain to further the goals of adoption and usage of $APE and reward the ApeCoin DAO and community.

Due to the large following of the Bored Ape Yacht Club and YugaLabs’ plans to make ApeCoin the default currency for all their web3 projects, this cryptocurrency might stick around. ApeCoin has recently captured the public’s attention like many other memecoins. However, unlike Dogecoin or Shiba Inu, ApeCoin might actually provide some real utility and be here for the long haul. With Yuga Labs adopting ApeCoin as the fundamental token, the community expects more utilities to be added to the token in the future.

Upon the launch of ApeCoin, holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs were entitled to collectively claim 15% of the ApeCoin supply (150 million tokens of the 1 billion total tokens in supply). In addition to its use in network governance, APE is meant to be used as a utility token—or currency—in web3 projects like games and metaverse worlds. “ApeCoin is a protocol layer for gaming and entertainment for the APE Ecosystem and across the web3 world. As a result the market went through a very normal period of price discovery; which can be highly volatile when liquidity in pools and on exchange order-books is limited because the token had just launched,” the emailed statement said. Just as Axie Infinity players earn tokens in tactical arenas, so will they earn APE coins for all upcoming games within the APE ecosystem.

As an investor, it comes down to preference on the amount of decentralization you prefer. Before deciding to ape into the metaverse, ask yourself whether you value true decentralization. However, if you are a believer in the Bored Ape community and YugaLabs’ vision, this might be worth considering.