[Blockchain Today Correspondent Han Ji-hye] ApeCoin (APE), a long-rumored cryptocurrency token connected to the Bored Ape NFT community, has finally been released.
According to The Block on the 16th (local time), APE’s debut was introduced in detail in a tweet from the official Twitter account of ‘The Yacht Club of Boring Monkeys (BAYC)’. APE was started by boring monkey founder Yuga Labs, and the coin will be linked to games and virtual experiences.
According to reports, the core of the token is a decentralized autonomous organization (DAO) and support base. The APE Coin DAO is supported by the Ape Foundation, and the community will create, service and host events on the blockchain on Metaverse or IRL. In the tweet, he said, “We plan to produce digital products and physical products. You can make anything you dream of.”
APE will be distributed by airdrop, and 62% of the total supply of Ape coins will be allocated to the Ape coin community, and the other 15% of the total supply will be billable from 8:30 AM EST on the 17th. The airdrop, equivalent to 15% of the total supply of ApeCoin, is for the holders of BAYC NFTs, boring monkeys paired with Bored Apes or Mutant Apes, BAYC or MAYC (Yacht Club of Mutant Monkeys). It will be distributed at the request of the owners of the Bored Ape Kennel Club.
“Anyone else who wants to buy APE will soon be able to buy it using a major cryptocurrency exchange,” BAYC said.
Meanwhile, on the official website of ApeCoin, Maaria Bajwa of Sound Ventures, Alexis Ohanian, co-founder of Reddit, Yat Siu, co-founder of Animoca brand, FTX Ventures You can check information about the DAO and the related ‘special committee’, which is made up of game representative Amy Wu and Horizon Labs general manager Deanbeck.
According to the website, the total supply of APE is expected to be 1 billion units, The Block said.
Approximately 150 million tokens will be used for the airdrop and approximately 470 million tokens will be provided for DAO finance and resources. Of these, 117.5 million will be unlocked immediately, with 7,343,750 monthly payments over the next four years.
In addition, on the official website, “80 million tokens, equivalent to 8% of the total supply, will be allocated to the four co-founders of Yugap Labs, and after the initial 12 months are unlocked, 2,222,222. will be released.” In addition to this, the Jane Goodall Legacy Foundations, including Yuga Labs, will also receive a small quota that is locked for a certain period of time.
According to The Block, Coinbase has announced that it will “support transactions on APE with a sub-label of “Experimental” in relation to the sale of APE coins. Coinbase introduces a new platform called “Experimental label”. It refers to a specific tradable asset that has been traded or has a relatively small trading volume.”
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