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Summary:
APE Ecosystem uses ApeCoin, an ERC-20 governance and utility token, to enable and reward a decentralized community forming at the vanguard of web3. Owners of ApeCoin make decisions about how to use the ApeCoin DAO Ecosystem Fund using the decentralized governance structure that runs the ApeCoin DAO. The suggestions adopted by ApeCoin holders are managed by the APE Foundation. 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.
The decentralized Bored Ape Yacht Club concept by Yuga Labs served as inspiration for ApeCoin. To be utilized in the developing APE Ecosystem, which is funded by the APE Foundation, ApeCoin was created. The ApeCoin DAO provides an architecture for ApeCoin holders to interact through open and permissionless governance mechanisms in order to construct and sustain the APE Ecosystem in a fair and equitable manner. The choices made by ApeCoin DAO members will be carried out by a board of administrators within the APE Foundation (the "Board"). The daily management, bookkeeping, project management, and other duties that guarantee the Community's ideas receive the backing they require to become a reality fall within the purview of the Board. The members of the ApeCoin DAO elect the Board.
The governance token for the APE Ecosystem is called ApeCoin. It enables token holders to take part in the ApeCoin DAO and provides its users with a decentralized, open, and shared money. The Ecosystem Fund, which will support community-driven activities as decided by ApeCoin DAO members, received 62% of all ApeCoin. Additionally, ApeCoin provides access to special games and services as well as other areas of the Ecosystem that are otherwise inaccessible. ApeCoin is a mechanism for third-party developers to engage in the ecosystem by integrating ApeCoin into services, games, and other projects.
Yuga Labs, the company behind the Bored Ape Yacht Club, donated a one-of-a-kind NFT to the APE Foundation. All rights and privileges to this NFT and the underlying artwork have been transferred by Yuga Labs to the APE Foundation. How this intellectual property is used is up to the individual ApeCoin DAO members.
The current market capitalisation for ApeCoin is $1,606,526,568. There is a maximum supply of 1 billion APE tokens, 306,875,000 of those are currently in circulation.
Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, APE does fall under this category.
According to some analysts, the future price of The ApeCoin network (APE) could reach up to $17.36 by 2025 and could see a price of more than $111.61 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions.
ApeCoin Crypto Price Chart
Sources: finance.yahoo.com, coinmarketcap.com, trading-education.com, cryptopolitan.com
