What is APE? The full name of APE is ApeCoin. APE is a token that supports the next step, controlled and established by the community. It will serve as a decentralized protocol layer for community-led initiatives to drive culture towards the metaverse. The APE Foundation is the manager of ApeCoin. It is not an overseer, but a base layer that ApeCoin holders in the ApeCoin DAO can build on.
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APECOIN FOR WEB3 ECONOMY
Culture finds new ways to express itself in web3 through art, games, entertainment, and events. The possibilities for blockchain’s impact on culture are so vast that they are currently unpredictable. APE is a token designed to support the next steps controlled and built by the community. It will serve as a decentralized protocol layer for community-led initiatives to drive culture into the metaverse.
Ape Foundation
The APE Foundation is the steward of ApeCoin. It is not an overseer, but a base layer that ApeCoin holders in the ApeCoin DAO can build on.
The Foundation promotes decentralized and community-led governance, aiming to become more decentralized over time. It is tasked with managing the decisions of the ApeCoin DAO and is responsible for day-to-day administration, bookkeeping, project management, and other tasks to ensure that the DAO community's ideas have the support they need to be realized.
The APE Foundation aims to manage the growth and development of the APE ecosystem in a fair and inclusive manner. It utilizes an ecosystem fund controlled by a multi-signature wallet to pay fees as directed by the ApeCoin DAO and provide infrastructure for ApeCoin holders to collaborate through an open and permissionless governance process.
road
ApeCoin DAO exists because decentralized governance is essential to building and managing a globally decentralized community and therefore is critical to the success of the APE ecosystem.
The APE Improvement Proposal process (see Governance) will allow ApeCoin DAO members to make decisions on ecosystem fund allocations, governance rules, projects, partners, etc. ApeCoin DAO membership is open to all ApeCoin holders.
Board of Directors
A special committee of the APE Foundation (the "Board" of the DAO) oversees the Foundation Administrators at the request of ApeCoin DAO members. The purpose of the Board is to manage DAO proposals and serve the community's vision. It will request proposals for administrative review in accordance with the ApeCoin DAO Rules. The initial Board term is six months, after which DAO members will vote on the Board members annually.
ApeCoin is an ERC-20 governance and utility token used in the APE ecosystem to empower decentralized community building at the forefront of web3.
As the open source protocol layer of the ecosystem, APEcoin has several uses:
Governance ApeCoin is the ecosystem's governance token, allowing ApeCoin holders to participate in the ApeCoin DAO. Unified Spending ApeCoin is the ecosystem's utility token, providing a shared and open currency for all participants to use without a centralized intermediary. Usage Rights ApeCoin provides access to parts of the ecosystem that would otherwise not be available, such as exclusive games, merchandise, events, and services. Incentives ApeCoin is a tool for third-party developers to participate in the ecosystem by integrating APE into services, games, and other projects.
The total supply of ApeCoin is permanently fixed at 1 billion tokens. There is no minting capability exposed through the contract interface, so the total supply can never increase. Likewise, there is no token burning capability exposed through the contract interface, so the total supply can never decrease.
As per standard practice, a portion of the project contributors’ tokens will be initially locked up. Starting from the launch date of March 17, 2022, the locked up tokens will be unlocked over 48 months according to the predetermined unlocking schedule in the table below.
