What about Boring Ape Coins? Learn more about Boring Monkey Coin APE in this article

php editor Strawberry brings you a detailed introduction about Boring Monkey Coin APE. Boring Ape Coin is a virtual currency that is widely used in blockchain games and digital assets. This article will delve into the definition, uses, trading methods and future development trends of Boring Ape Coin to help readers fully understand this emerging digital asset.

Today’s price of Boring Ape Coin

＄2.02 ≈ ¥14.47

What is Boring Ape Token?

ApeCoin is an ERC-20 governance and utility token built on the Ethereum blockchain. Yuga Labs is about to launch their own cryptocurrency, ApeCoin, as an ERC-20 governance and utility token. Yuga Labs is the owner of Bored Apes Yacht Club (BAYC), CryptoPunks, and Meebits after acquiring the rights to these projects.

ApeCoin will be built on the basis of a Decentralized Autonomous Organization (DAO). DAO is an organizational form whose decision-making and operations are jointly managed by currency holders. To ensure transparency, the Treasury address will be public to everyone.

The board of directors will consist of Alexis Ohanian, Amy Wu, Maaria Bajwa, Yat Siu and Dean Steinbeck. ApeCoin DAO members will be able to influence decisions on ecosystem fund allocations, projects, partnerships, governance rules, and more.

All ApeCoin holders can become DAO members.

The founder of Yuga Labs will hold 8% of ApeCoin tokens (80 million). The tokens will be locked for 1 year and then approximately 2.2 million tokens will be unlocked every month for 36 months.

Yuga Labs will hold 150,000,000 ApeCoins, locked for 12 months, and then 277,777.78 tokens will be released monthly for 3 years.

How about boring ape coins?

ApeCoin is a hot topic among crypto enthusiasts and speculators today. The newly launched project is associated with the Bored Ape Yacht Club and the Mutant Ape Yacht Club. The currency is designed to support the next phase of these projects as envisioned by the community.

It was only a matter of time before two of the largest NFT collections created by the same team received local currencies. ApeCoin is a direct result of this ongoing process and serves as an ERC-20 token on the Ethereum blockchain. The currency serves governance and utility purposes within the APE ecosystem. Additionally, the team prioritizes community engagement to bring ApeCoin into the Web3 era.

Although ApeCoin is issued on Ethereum, it will be part of the open source protocol layer. Although there is no minting option on the contract interface, a total of 1 billion tokens will exist. Unfortunately, there is also no burning mechanism that ensures the supply is always constant. This could be beneficial but also problematic if overall interest in ApeCoin declines months or years from now.

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