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what is ApeCoin ?


ApeCoin (APE) is the native governance token that empowers the decentralized community building of the APE ecosystem. The APE ecosystem includes the community of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), two of the most popular NFT collections on the Ethereum blockchain.

ApeCoin is airdropping a total of 150,000,000 APE to BAYC and MAYC NFT holders. Users who own Bored Ape or Mutant Ape NFTs are eligible to claim up to 10,950 APE. Users have until 90 days to claim the airdrop else the unclaimed tokens will be sent to the Ecosystem Fund.


APECOIN IS FOR THE WEB3 ECONOMY.


Culture has found new expression in web3 through art, gaming, entertainment, and events. The possibilities for blockchain's impact on culture are so endless that they can't possibly all be predicted yet. APE is a token made to support what's next, controlled and built on by the community. It will serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse.


THE APE FOUNDATION


The APE Foundation is the steward of ApeCoin. It is not an overseer, but the base layer on which ApeCoin holders in the ApeCoin DAO can build.

The Foundation facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with administering the decisions of the ApeCoin DAO, and is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community's ideas have the support they need to become a reality.

The goal of the APE Foundation is to steward the growth and development of the APE ecosystem in a fair and inclusive way. It utilizes the Ecosystem Fund, which is controlled by a multisig wallet, to pay its expenses as directed by the ApeCoin DAO and provides an infrastructure for ApeCoin holders to cooperate through open and permissionless governance processes.




APECOIN ALLOCATION


The total supply of ApeCoin is permanently fixed at 1 billion tokens. No minting capability is exposed through the contract interface, thus the total supply will never increase. Similarly, the contract interface does not expose any token burning capability, so the total supply will never decrease.

In line with the standard practice, a portion of the tokens for contributors to the project will be initially locked. Locked tokens will be unlocked over a period of 48 months, in accordance with the predetermined unlock schedule in the chart below, starting on launch day, March 17, 2022.

ApeCoin will be distributed among four main groups, as detailed in the chart below. Wallets holding tokens alloted to the DAO treasury and resources can be viewed here.



Max Supply: 1,000,000,000

Total Supply: 1,000,000,000


Who Are the Founders of ApeCoin?


ApeCoin is a decentralized project inspired by Yuga Labs' Bored Ape Yacht Club project. ApeCoin was founded to be used within the burgeoning APE Ecosystem, which is supported by the APE Foundation. The ApeCoin DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.

An administrative council within the APE Foundation (the “Board”), will carry out the decisions of ApeCoin DAO members. The Board is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the Community's ideas have the support they need to become a reality. ApeCoin DAO members vote on Board members.


What Makes ApeCoin Unique?


ApeCoin is the APE Ecosystem’s governance token, allowing token holders to participate in ApeCoin DAO and giving its participants a shared and open currency that can be used without centralized intermediaries. 62% of all ApeCoin was assigned to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members.

ApeCoin also gives access to certain parts of the Ecosystem that are otherwise unavailable, like exclusive games and services. For third-party developers, ApeCoin is a tool to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects.

The APE Foundation was gifted a 1 of 1 NFT by Yuga Labs, the creators of Bored Ape Yacht Club. Yuga Labs has conveyed all rights and privileges to this NFT and its underlying artwork to the APE Foundation. The ApeCoin DAO members can decide how this intellectual property is used.


How Many ApeCoin Are There in Circulation?


The total supply of ApeCoin is permanently fixed at 1 billion tokens, all minted at once.

On launch day, March 17, 2022, 30.25% will be in circulation. This percentage will continually increase following launch day at regular intervals over a 48-month period.

The amount of ApeCoin in circulation is a dynamic number that will constantly change both due to th