ApeCoin (APE) is the ERC-20 native cryptocurrency of the ApeCoin DAO associated with the popular NFT project Bored Ape Yacht Club. The ApeCoin DAO was launched in March 2022, and people who already owned Bored Ape and Mutant Ape NFTs at that time all received free APE. The DAO has the vision to support art, gaming, entertainment, and events in a decentralized manner with the help of blockchain technology.
The team behind the ApeCoin DAO is called the APE Foundation. They are responsible for the day-to-day operations to make sure the DAO has the resources they need to make their ideas come true.
Those who hold APE tokens can participate in the ApeCoin DAO and make decisions regarding the organization through the process of governance. The decisions and how they are executed are managed by the Board, a group of DAO members who are voted to oversee the APE Foundation. Board members are voted on by DAO members annually.
Besides being the governance token of the DAO, APE can be used to gain exclusive access to different services of the Ape ecosystem.
APE has a hard cap of 1 billion. The current circulating supply of APE is 306,875,000.
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