After amassing impeccable success with Bored Ape Yacht Club [BAYC], Yuga Labs decided to roll out ApeCoin.
Details pertaining to the introduction of ApeCoin were emphasized in a lengthy Twitter thread. The asset is expected to be used in a variety of fields, including culture, gaming, and commerce. The ApeCoin community has exclusive access to 62 percent of the entire supply.
But who is part of the ApeCoin community? Anybody can become a member by merely holding the token.
Every token holder is guaranteed a vote on governance as well as the usage of the ecosystem fund, which is managed by the decentralized organization ApeCoin DAO.
Furthermore, 15 percent of the total supply would reportedly be made available from tomorrow post 8:30 AM ET.
Additionally, the current five board members of the project will be serving a term of six months. The DAO member would then vote manually on the Board members. Elaborating on the functions of the board, the official website read,
“A special council on the APE Foundation (the DAO’s “Board”) provides, at the behest of the ApeCoin DAO members, oversight of the Foundation administrators. The purpose of the Board is to administer DAO proposals and serve the vision of the community. It meets on proposals requiring administrative review under ApeCoin DAO rules.”
Exchanges have already started embracing the ApeCoin
Binance.US, Gemini, OKX, Kraken, FTX, and several prominent exchanges have already onboarded the brand new token.
These listings occurred just hours after the release of the token.
The Rise of The Planets of The Apes
Despite being relatively new, BAYC has been reigning over the crypto market. From celebrities to the Average Joe, everyone wants to own an ape now. The same fervor is expected to surround the latest token as well.
The community further laid out the speculation of how the surge in BAYC’s floor price could be the launch of Apecoin. The floor price of BAYC was at 106 ETH for quite some time. However, now it moved up to 108 ETH.
Additionally, 8BTC news captured the 400 percent daily surge in the volume of BAYC.