The cryptocurrency market has recently emerged as one of the most popular investment opportunities for financial specialists. Several fascinating crypto coins representing different domains have been added to the domain.
Currently, investors are very interested in NFTs, and the Bored Ape Yacht Club and its connected collections are possibly the most prominent of all the eye-catching NFTs. The inventors show bored-looking apes that can be personalized to the slightest aspects based on the buyer’s preferences.
Several investors were drawn to these ordinary-looking works of art. Customers included Justin Bieber, Eminem, and others, and some of them sold for hundreds of thousands of dollars.
The Apecoin is the cryptocurrency of the Bored Ape Yacht Club, which has exploded in popularity in recent months. Following the launch, all investors in the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and other linked NFT collections received the ApeCoin (APE).
On the Ethereum blockchain, the BAYC and MAYC are the two most popular collections. Owners of BAYC NFTs are eligible for free ApeCoin tokens, which they can resell wherever they desire.
How To Claim ApeCoin Airdrop?
Steps to Claim ApeCoin Airdrop:
Step 1: Visit www.apecoin.com/claim to claim your ApeCoin Airdrop.
Step 2: Connect to MetaMask wallet.
Step 3: Connect your existing MetaMask account or create a new one.
Step 4: If you are eligible, you can receive free APE tokens.
Step 5: Anyone who owns Bored Ape or Mutant Ape NFTs is eligible for this airdrop.
Step 6: If you possess a Bored Ape NFT, you can claim 10,094 APE; if you own a Mutant Ape NFT, you can claim 2,042 APE; if you own a Bored Ape + Kennel Club NFTs, you can claim 10,950 APE; and if you own a Mutant Ape + Kennel Club NFTs, you can claim 2,898 APE.
Step 7: Eligible users have 90 days to claim the airdrop, after which the tokens will be delivered to the Ecosystem Fund if they are not claimed.
Any NFT’s linked airdrop claim tokens can only be claimed once. Use the NFT checker to see if a specific BAYC, MAYC has declared its tokens.
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ApeCoin’s total supply is set at 1 billion tokens in perpetuity. The supply will never increase because the contract interface exposes no minting functionality.
Similarly, the contract interface hides any capacity to burn tokens, ensuring that the supply remains constant. A percentage of the tokens for contributors to the project will be initially locked, as is the customary procedure.
Locked tokens will be unlocked over 48 months, starting on launch day, March 17, 2022, and following the predetermined open timetable in the chart below.
- 62% to the Ecosystem Fund
150 million airdropped + 470 million to DAO treasury
- 16% to Yuga Labs & Charity
150 million to Yuga Labs + 10 million in donation
- 14% to Launch Contributors
A total of 140 million tokens are included in the lock-up period and unlocking window
- 8% to BAYC Founders
80 million tokens
Following is how the total supply is distributed:
The 16 percent will be split between charity and Yuga Labs as follows:
- In exchange for a 1 year lockup, Yuga Labs will get 150 million tokens over 36 months, with 4,166,666.67 tokens released each month for the next 36 months.
- Jane Goodall Legacy Foundation will receive a total of 10 million tokens or equivalents after a 12-month lockout period, with 277,777.78 tokens being unlocked each month for the next 36 months following the initial lockup period.
There is also a 14 percent allocation for launch contributors who are subject to a variety of lockups and an 8 percent allocation for BAYC’s founders, who are subject to a 12-month lockout and then receive 2,222,222.22 unlocked tokens per month beyond that.
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About ApeCoin – APE
Apecoin is the governance and utility token for the Bored Ape Yacht Club community and its affiliates. Because of the tremendous popularity of the Bored Ape Yacht Club brand, this airdrop has been one of the most anticipated in the NFT community.
It’s essentially being airdropped to owners of the mutant Ape Yacht Club and Bored Ape Yacht Club, with additional copies going to owners of the Bored Ape Kennel Club.
Apecoin currently has no meaningful functionality other than participation in the ApeDAO, which supervises the Apecoin token’s governance. However, the future roadmap reveals that there will be benefits for token holders, particularly when combined with the underlying NFTs.
They include a marketplace, games of the future, and more. Although Apecoin does not yet have a large fanbase, it is backed by some well-known figures.
Yuga Labs, which is regarded as one of the more notable names in the NFT sector, is the principal company linked to Apecoin. Although it does not have a large amount of backing, Apecoin’s future appears to be bright, considering the popularity of the brand it represents.
Apecoin Is The Currency Of The Web3 Economy
Web3 has given new life to culture through art, gaming, entertainment, and events. The potential for blockchain’s artistic effect is so numerous that it can’t possibly be predicted all at once.
APE is a community-controlled and built-on token designed to support what’s next. It will act as a decentralized protocol layer for community-led activities to advance culture in the metaverse.
The Ape Foundation
The APE Foundation manages ApeCoin. It is not an overseer but the foundation upon which ApeCoin DAO holders might grow. The foundation promotes decentralized and community-led governance to become even more decentralized over time.
Additionally, it is responsible for handling the DAO’s day-to-day administrative operations and bookkeeping, ensuring the DAO community’s ideas receive the support they need to become a reality.
The APE Foundation’s mission is to ensure that the APE ecosystem grows and develops pretty and inclusively. It pays its expenses following the orders of the ApeCoin DAO, using the Ecosystem Fund, which is maintained in a multi-signature wallet.
Furthermore, it creates a platform for ApeCoin holders to interact with one another through open and permissionless governance processes in which they can participate.
ApeCoin DAO was formed because decentralized governance is critical to the development and management of a globally dispersed community—and, consequently, to the viability of the APE ecosystem.
By participating in the APE Improvement Proposal Process, ApeCoin DAO members will have the ability to make decisions about projects, governance rules, Ecosystem Fund allocations, partnerships, and other matters. The ApeCoin DAO is open to all ApeCoin holders that wish to participate.
APE Board Of Directors
A special council on the APE Foundation oversees the Foundation administrators at the request of ApeCoin DAO members. The Board’s mission is to administrate DAO proposals and serve the community’s vision.
It meets to discuss proposals subject to administrative approval under the ApeCoin DAO’s regulations. The first Board will do for six months, after which DAO members will vote on Board members annually.
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ApeCoin is an ERC-20 governance and utility token that powers the APE ecosystem’s decentralized community creation at the forefront of web3. ApeCoin serves numerous objectives as the ecosystem’s open-source protocol layer:
Holders of ApeCoin can join the ApeCoin DAO, which is the ecosystem’s governance token.
- Unification of Spend
ApeCoin is the ecosystem’s utility token, providing shared and open money that can be utilized without centralized intermediaries for all of the ecosystem’s members.
ApeCoin grants access to aspects of the ecosystem that would otherwise be inaccessible, such as unique games, merchandise, events, and services.
APECoin is an ecosystem platform that allows developers to integrate APE into their games, services, and other products.