Introducing ApeCoin DAO
Market Meditations | March 17, 2022
The Bored Ape Yacht Club (BAYC) started as an ambitious NFT project and quickly became a household name in under a year. The average floor sale has risen from $241 in April 2021 to £383,510 in February 2022.
- ApeCoin ($APE) has been created and is being adopted as the official currency of the BAYC ecosystem. The BAYC has gifted the ApeCoin DAO a 1/1 NFT in honour of their partnership.
- ApeCoin is owned and operated by the ApeCoin DAO which is supported by the Ape Foundation, a legal entity that was created to act as the legal steward for ApeCoin and administer any decisions made.
- Each token holder gets to vote on governance and use of the Ecosystem Fund. The only requirement for membership of the DAO is holding $APE.
- 62% of the total supply of ApeCoin is allocated to the ApeCoin community. A portion of which (15% of total supply) will be available to claim on the 17th March 2022 at 8:30 am ET via an airdrop to existing BAYC holders.
- This includes Bored Apes, Mutant Apes and Bored Ape Kennel Club Dogs who are paired with either a Bored Ape or a Mutant Ape.
- For those who do not qualify for an airdrop but still wish to participate, $APE will begin trading on major crypto exchanges soon.