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.
ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.
##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 allocated 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 the aforementioned schedule and a myriad of market factors.
##How Is the ApeCoin Network Secured?
ApeCoin is an ERC-20 token launched on the Ethereum blockchain. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism.
##Where Can You Buy ApeCoin?
ApeCoin is available to trade on numerous exchange platforms, including decentralized exchanges like SushiSwap and top centralized exchanges.
The Ape token is an ERC-20 token based on Ethereum, aiming to become a leading digital asset in the NFT and DeFi sectors. With a limited total supply, it possesses scarcity and value storage properties. The primary features and use cases of the Ape token include NFT market trading, participation in DeFi projects, community governance voting, digital asset investment, and social-cultural expression. As an emerging cryptocurrency, Ape has attracted the attention of numerous investors and community members. Its prospects for development and application scenarios are still evolving, bringing new possibilities and opportunities to the cryptocurrency field.
How to Buy APE
1. How to Buy APE on Exchanges
Step 1: Choose a reputable exchange platform
Select a trustworthy platform from numerous exchanges to make your purchase. Some trusted platforms include Coinbase, Binance, OKX, among others.
Step 2: Register an account
Create an account on the chosen exchange platform. You may need to provide personal information (such as phone number, email) to complete the registration process.
Step 3: Complete identity verification
For security reasons, some platforms may require you to undergo identity verification. Follow the platform's instructions, providing necessary identity information (such as country/ID number) and undergo facial recognition if prompted. Once your identity is confirmed, you'll receive notification.
Step 4: Link your bank or payment method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing APE.
Step 5: Purchase APE
Find the option to buy coins on the exchange platform, select the C2C buying process, then input the amount of cryptocurrency you wish to purchase. Typically, you'll choose to buy USDT first and then proceed with the purchase method. Simply place your order, make payment to the seller, and you'll receive the cryptocurrency. Once the payment is completed, you can use your exchange assets to buy APE.
Step 6: Store your APE
After purchase, you can choose to store APE in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Tips
To protect your exchange account and APE assets, it's essential to use strong passwords and enable two-factor authentication.
How to Buy APE via Over-the-Counter (OTC) Trading
Over-the-counter (OTC) APE trading occurs directly between buyers and sellers, bypassing exchanges or other intermediaries. Here are the general steps for OTC APE trading:
Step 1: Find an OTC trading channel
Start by finding a reliable OTC trading platform or service provider. These platforms typically offer online marketplaces or ways to connect with brokers for trading.
Step 2: Register an account
Sign up for an account on the chosen OTC trading platform. You may need to provide some personal information (phone/email) to complete the registration process.
Step 3: Complete identity verification
For security purposes, some platforms may require you to undergo identity verification. Follow the platform's instructions to provide necessary identity information (nationality/ID) and undergo facial recognition or other verification steps.
Step 4: Browse the trading list
After logging into your account, browse through the platform's trading list to find APE trades that interest you. You can choose trades based on the trader's reputation rating, trade volume, price, and payment methods.
Step 5: Select a trading partner
Once you find a suitable trade, click to enter the trading page and carefully review the trader's terms and conditions. Ensure you understand and agree to the trader's requirements, such as trade amount, payment method, trade time, etc.
Step 6: Negotiate trade details
After reaching an agreement with the trader, you can negotiate trade details such as trade amount, payment method, trade time, and location.
Step 7: Make payment
According to the agreement reached with the trader, use the chosen payment method to pay the APE purchase amount to the seller.
Step 8: Confirm receipt
Once the trader confirms receiving your payment, they will release APE to the APE address you provided. You can check your APE wallet balance after the trade to confirm its success.
3. How to Buy APE through Decentralized Exchanges (DEX)
Buying APE on decentralized exchanges (DEX) differs from purchasing other cryptocurrencies on centralized exchanges. Here are the general steps for buying APE on DEX:
Step 1: Choose a APE-supporting wallet
Create a new wallet supporting APE assets, then select a decentralized exchange that supports APE.
Step 2: Connect your wallet
Before using the DEX, you need to connect a wallet supporting the APE blockchain. You can connect your wallet to the selected DEX via browser extension or mobile application.
Step 3: Deposit funds
In your wallet, select deposit and choose the asset you want to deposit (such as stablecoins). Follow the wallet prompts to complete the deposit process.
Step 4: Find the trading pair
Search or browse for the APE trading pair on the DEX. Typically, you can find a search box or a list of trading pairs on the exchange's homepage or trading interface.
Step 5: Place an order
Once you find the APE trading pair, you can choose between market or limit orders and input the quantity you want to purchase. Ensure you input the correct price and quantity in the order, then confirm the order.
Step 6: Wait for the trade to execute
Your order will be submitted to the APE blockchain and wait for confirmation and execution by miners. Once the order is executed, you will receive the purchased APE, which you can view in your wallet balance.
Step 7: Withdraw funds
After completing the trade, you can choose to withdraw the purchased APE to your wallet for safer storage of your digital assets.
4. Official Channels for APE Project Team or Community
Sometimes, the APE project team or community may launch official channels for direct APE purchases. This may include private placements, presales, or other forms of direct sales.