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Jim Chanos Shorts $AMC, Goes Long on $APE
Jim Chanos shorts $AMC and goes long $APE. He believes there is an arbitrage opportunity and that AMC and APE should be worth roughly the same.

-Same # of shares outstanding
-Same voting rights

AMC closed at $9.56, while APE closed at $7.02.

Difference: 36% (to the upside)

“Functionally, the two securities are the same. And I’d guess the apes will be putting pressure on Mr. Aron, if the discount continues, to make it freely convertible sooner rather than later,”

-Chanos

APE units began trading earlier this week and are preferred, which means that in an event of an AMC bankruptcy, APE shareholders will be eligible to receive payouts before AMC shareholders.
I saw this and can't make my mind up if it is smart or dumb. On paper it does sound smart but when "messing" with the Reddit gang it is best to just leave things alone imo.
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I’m surprised by the price performance of $APE
When $APE first surged, many thought that it would plunge at some point. Instead, the price of the coin traded sideways for a bit of time and then broke out again.

Even with the hacking that happened with the latest BAYC airdrop, speculators continue to pile into this cryptocurrency.
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Just another sign that most crypto investors are 100% technical, people buying based on charts without caring what they’re actually buying. Bored Ape Yacht Club (enjoy your investments) is a joke. I try to avoid the projects flying solely on hype of the crowd.
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A broad overview of $APE tokens
The $APE token is called "ApeCoin"

This coin is a governance token that puts owners as members of the ApeCoin DAO.

In this DAO, token holders gain access to exclusive games, merchandise, events, and services.

There is a fixed amount of $APE tokens. That number is 1 billion. The supply will neither increase nor decrease. That means no minting and no burning of tokens. However, at launch, 117,500,000 tokens will be unlocked at launch. From there 7,343,750 tokens will be unlocked each month for the next 48 months.

Here's the distribution of the tokens for the ApeCoin DAO:
  • 62% goes to the ecosystem fund (which is the DAO's treasury)
  • 16% goes to Yuga Labs and charity
  • 14% goes to the launch contributors
  • 8% goes to the Bored Ape Yacht Club founders

For context, Yuga Labs is the company behind the Bored Ape Yacht Club. And the charity that the fund proceeds will be donated to is the Jane Goodall Legacy Foundation.

Anyone that owns a Bored Ape Yacht Club (BAYC) or a Mutant Ape Yacht Club (MAYC) NFT has a stake in the DAO.
  • For every BAYC NFT you own, you get 10,094 $APE tokens
  • For every MAYC NFT you own, you get 2,042 $APE tokens

Interestingly, the BAYC and MAYC NFTs do come with their companions, which are part of the Kennel Club. And as long as you have a yacht club member along with a kennel club member (token IDs don't need to match), here's what you can claim:
  • BAYC + Kennel Club = 10,950 $APE tokens
  • MAYC + Kennel Club = 2,898 $APE tokens

In a DAO, there are going to be board members who conduct the bureaucratic operations of the organization. Every six months, members get to vote on whether to keep existing board members or place a new member on the board.

That's the overview of $APE coin and the ApeCoin DAO. Questions?
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