When utilized inside the APE Ecosystem, Ape Coin serves as both a governance and utility token on the Ethereum block chain. This facilitates and incentivizes the development of decentralized communities at the cutting edge of web3.The Bored Ape Yacht Club was where everyone assumed it would end (BAYC.) Those wacky expressions. Those posh hides, for sure. Lack of interest conveyed by the facial expression. The Kennel Club and the Mutant Apes both sprang from this idea. After each one, there was a slight increase in the strangeness.
Nonetheless, this is the year 2022, and odd is totally cool. This is not lost on us any longer. The researchers are putting great effort to present the first-hand knowledge in their research papers concerning the digital currency topics. In todays’ era, almost every Dissertation Proposal Writing holds the technical insights of Apecoin or APE. The makers are big ape fans, and they’ll ultimately have to band together. There will be a requirement for a utility token at that time. We now have ape coins (APE).
Youngsters are widely taking interest in Apecoin charts, news and other stuff nowadays. They are more concerned with the digital currency updates than their academics. This time, students find it difficult to carry out research for their final year dissertations as you can see them saying that “I need Online Dissertation Help” but when it comes to the research related to the latest NFT, Crypto, Bitcoin and Apecoin news, you will find them pro in research.
Coming back to the topic, the BAYC’s animal population has banded together to create the Ape Foundation. It serves as the foundation for the Ape Coin DAO, the actual star of this show. DAO stands for “decentralized autonomous organization,” and it is used to describe a company that sells digital property with real-world repercussions.
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What is Ape Coin
The cryptocurrency Ape Coin was developed on the Ethereum platform. A utility token for the Ape Coin DAO, it carries the ERC-20 standard’s stamp of approval. If you’re familiar with the antics of the Bored Apes, then you know that they’re Not Fun Toys (NFTs) and may be purchased separately. Not so with ape coin. Consider it the equivalent of a native token in an NFT game, with the whole Bored Ape universe serving as the board. You’ll need your Ape Coin contract address in order to make any purchases in the Ape Coin DAO, so be sure to write it down. What exactly will be spent on remains unknown? APE’s designers may be struggling to think of a good name. In a larger universe inhabited by even more apes, what would a group of NFT fans who also happen to appreciate apes want to buy? The most pressing inquiry of the year.There was a brief period when one Ape Coin could be purchased for $17.5, but currently it trades at roughly $13. After a single day of trading last week, the market cap increased to $2 billion.
How to Get Ape Coin?
You don’t need to own a Bored Ape NFT to receive an APE, but you will receive bonus coins if you do. Maybe it’s a symbol of solidarity or a badge of honour. Complete with a clever joke. How many and what kind of Apes a BAYC owner has a direct impact on how much Ape Coins they receive (Hooson, 2022). There is a directory in the whitepaper. Each bearer of Bored Ape NFT is rewarded with around 10,000 Ape Coin. Those who possess apes that have undergone a mutation receive just approximately 2,000 coins. That is such a blatant wrong. You may increase your earnings by a small amount if you also possess a Kennel or a Mutant, and a lot if you have the original BAYC.As the value of Ape Coin rises and falls, BAYC owners have the opportunity to profit handsomely from the market. Or they can refuse to budge and insist on having complete access to the Ape Coin DAO’s facilities. Even if neither choice would undo the thousands of dollars in investments, at least the NFTs are finally being put to use, so why not? The Ape Coin reddit page is awash in speculation. Like a high school lunchroom brawl, conflicting viewpoints are hurled around. Most were doubtful. Some were terrified. A select few have already purchased the APE in silence. The reason we bring it up is that one of the “board” members (or should we say, Bored) of the Ape Foundation is Alexis Ohanian, co-founder of Reddit. He possesses administrative control on the Ape Coin DAO thus naturally we know the whole thing is in excellent hands.
Who is behind Ape Coin?
Ape Coin is being introduced by Ape Coin DAO, a new governing body of which all holders of APE are members, as stated on the Ape Coin website and in supporting press materials. Its purpose is to collect ideas from users and put them to a vote among token holders. There have been previous attempts at using voting in other NFT projects. You may join the Nouns DAO, a $62 million online investment pool, by purchasing an NFT from the “Nouns” collection. Nouns owners can discuss potential uses for the funds on a dedicated proposal page. (“What if we produced an NFT comic book?” is a common suggestion. Daily DAO operations, proposal management, and “other responsibilities that guarantee the DAO community’s ideas have the backing they need to become a reality” will be handled by a separate entity named the Ape Foundation. Ape Coin DAO relies on this as its foundational document.
Some ideas for the Ape Coin DAO will be reviewed by a committee of the Ape Foundation, which will also act as the “board” of the organization. Alexis Ohanian, co-founder of Reddit; Amy Wu, head of the investment arm of crypto exchange FTX; Maaria Bajwa, of Sound Ventures; Yat Siu, co-founder of Animoca Brands; and Dean Steinbeck, co-founder of Horizen Labs; are the five prominent crypto investors that make up the original board. The Ape Coin website states that DAO members will be able to elect new board members every six months. All five of the DAO’s active AIPs or “Ape Improvement Proposals” were filed by the company’s co-founder, Brian Tang, and a consulting firm named Cartan Group, located in the Cayman Islands, is being paid $150,000 per month for a six-month contract.
References
Hooson, M. (2022). How to Buy Ape Coin. [Online] Forbes Advisor UK. Available at: https://www.forbes.com/uk/advisor/investing/cryptocurrency/how-to-buy-apecoin/ [Accessed 10 Aug. 2022].
