ApeCoin DAO announced the ERC-20 token today on Twitter.
Key Takeaways
ApeCoin has been formally announced, and is scheduled to drop tomorrow.
15% of the total token supply will go out to holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs starting tomorrow.
The coin could start trading on exchanges as early as tomorrow as well.
ApeCoin DAO has announced the launch of ApeCoin (APE), which will drop to current Bored Ape Yacht Club and Mutant Ape Yacht Club NFT holders tomorrow.
ApeCoin Will Drop TomorrowApeCoin is launching tomorrow.
The highly-anticipated governance and utility token for Bored Ape Yacht Club will be released tomorrow at 12:30 UTC, according to a tweet from the official Bored Ape Yacht Club Twitter account.
Holding APE will bestow membership to the ApeCoin DAO, a decentralized autonomous organization that will vote on governance issues for the ecosystem. The Ape Foundation, which the “legal steward” incorporated to facilitate the direction and development of the ApeCoin DAO and ecosystem, is headed by a board that includes Alexis Ohanian (Reddit’s Co-Founder), Amy Wu (of FTX), Maaria Bajwa (Sound Ventures), Yat Siu (Animoca), and Dean Steinbeck (Horizen Labs).
15% of the tokens total supply of 1 billion will be made available tomorrow via airdrop to holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs, with additional tokens allocated to those who hold Bored Ape Kennel Club NFTs alongside their BAYC or MAYC NFT. In total, 62% of the total token supply will ultimately be allocated to the DAO, 16% to Yuga Labs, 14% to launch contributors, and 8% for the founders.
According to a Twitter thread from the official Coinbase Assets account, Coinbase will support APE on an experimental basis beginning tomorrow at 16:00 UTC, assuming key liquidity thresholds are met.
Secondary markets for the Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club collections are all reacting, with the volume of all three up over threefold in the last 24 hours. The news comes only days after it was announced that Yuga Labs, the creator of Bored Ape Yacht Club, had acquired the CryptoPunks and Meebits NFT series from Larva Labs.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies.
This story has been updated to clarify that ApeCoin is being launched by ApeCoin DAO, not Yuga Labs.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Earning High Yields Without the Complexity of DeFi? Welcome to Hodlnau…
One of the most popular trends in cryptocurrencies dates back to ancient times: lending money to earn interest. In the traditional banking system, people store their funds and they get…
Bored Ape Yacht Club Creator Reportedly in Investment Talks With a16z
News
Feb. 3, 2022
Venture capital firm Andreessen Horowitz is rumored to be in investment talks with Yuga Labs, the team behind Bored Ape Yacht Club. Investor Takes Interest in Bored Apes Yuga Labs…
Bored Ape Yacht Club Hype Continues With $2.8M Sale
A Bored Ape Yacht Club NFT sold for $2.8 million last night as demand for the collection reaches new highs. The current floor price for a Bored Ape is 116.9…
Bored Ape Yacht Club NFT Prices Catch Up With CryptoPunks
Bored Ape Yacht Club is arguably Ethereum’s most sought after NFT collection today. Bored Ape Yacht Club Overtakes CryptoPunks Floor The prices for Ethereum’s hottest apes have caught up with…
