What Is ApeCoin?
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.
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.
Should You Invest in Ape Coin?
There are several factors to consider when investing in Ape Coin. For starters, APE has limited supply of 150M. However, it is important to understand the limitations of this cryptocurrency. There are risks involved. If you invest too much in APE, you could lose some of its value. Additionally, APE is still new player so for long-term investment may be risky, so you should be cautious and not overinvest.
Bored Ape Yacht Club by Yuga Labs Foundation
The future of ApeCoin is uncertain, but the company behind the cryptocurrency is clearly looking forward. It is the parent company of Bored Ape Yacht Club NFT collection and recently acquired CryptoPunks and Meebits. With a roadmap in place, the team is likely to use APE as the core currency. The founders are locked up their APE allocation for a year, so they have a lot to gain from a rise in its value.
APE is the first digital asset on the market. It will be the primary token for the Bored Ape Yacht Club and other web3 startups. The APE price may rise and fall, and you should wait to purchase APE until it becomes more stable. Buying new ICOs with a limited supply may be a good idea. But the biggest risk of investing in ICOs is that you won’t be able to withdraw your money. The key is to make sure you understand how your money is being used, and if you don’t understand what you are doing, it could be a waste of time.