๐ Gem Project Analysis! ๐ #Ape Ecosystem #NFT Gem Project ApeCoin (APE) ๐
๐ฆ๐ช#ApeCoin, the decentralized cryptocurrency powering the APE ecosystem! #APE๐๐
๐ Let's dive into key features and potential of #ApeCoin in this captivating thread! ๐งต๐
1๏ธโฃ Introduction & Overview: ApeCoin is the governance and utility token of the APE ecosystem, serving as the native coin of Bored Ape Yacht Club (BAYC). The ApeCoin DAO administers APE, with the ecosystem comprising community holders and various products/services using the cryptocurrency.
2๏ธโฃ Technology & Features: ApeCoin is an ERC-20 token on the Ethereum blockchain, enabling instant, near-zero cost payments. It's a key player in decentralized finance (DeFi) applications, facilitating lending, borrowing, and yield farming.
3๏ธโฃ Whitepaper Analysis: The ApeCoin DAO, a decentralized autonomous organization, governs APE. Token holders make collective governance decisions, including fund allocation, partnerships, and more. APE is also adopted by Yuga Labs, known for CryptoPunks and Meebits.
4๏ธโฃ Use Case: APE has multiple use cases, serving as a medium of exchange, in-game currency, and granting access to exclusive BAYC events. It's used for transactions within the ecosystem and compatible blockchain-based games.
5๏ธโฃ Team and Leadership: ApeCoin is a decentralized project inspired by Yuga Labs' Bored Ape Yacht Club. The ApeCoin DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, with an administrative council within the APE Foundation carrying out decisions.
6๏ธโฃ Partnerships: The ApeCoin community voted to develop ApeChain on Arbitrum, supported by Horizen Labs. APE tokens will serve as gas and governance tokens on the new network, boosting operational efficiency and community governance.
7๏ธโฃ Tokenomics: The total supply of ApeCoin is permanently fixed at 1 billion tokens and circulating supply is 627.84 Million APE token with the percentage increasing at regular intervals over a 48-month period.