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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:
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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