ApeCoin DAO revealed the ERC-20 token today on Twitter.
Key Takeaways
- ApeCoin hasactually been officially revealed, and is setup to drop tomorrow.
- 15% of the overall token supply will go out to holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs beginning tomorrow.
- The coin might start trading on exchanges as early as tomorrow as well.
ApeCoin DAO has revealed the launch of ApeCoin (APE), which will drop to present Bored Ape Yacht Club and Mutant Ape Yacht Club NFT holders tomorrow.
ApeCoin Will Drop Tomorrow
ApeCoin is releasing tomorrow.
The highly-anticipated governance and energy token for Bored Ape Yacht Club will be launched tomorrow at 12: 30 UTC, according to a tweet from the authorities Bored Ape Yacht Club Twitter account.
Holding APE will bestow subscription to the ApeCoin DAO, a decentralized self-governing company that will vote on governance concerns for the community. The Ape Foundation, which the “legal steward” included to assistin the instructions and advancement of the ApeCoin DAO and environment, is headed by a board that consistsof 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 overall supply of 1 billion will be made readilyavailable tomorrow bymeansof airdrop to holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs, with extra tokens designated to those who hold Bored Ape Kennel Club NFTs alongwith their BAYC or MAYC NFT. In overall, 62% of the overall token supply will eventually be designated to the DAO, 16% to Yuga Labs, 14% to launch factors, and 8% for the creators.
According to a Twitter thread from the authorities Coinbase Assets account, Coinbase will assistance APE on an speculative basis start tomorrow at 16: 00 UTC, presuming secret liquidity limits are satisfied.
Secondary markets for the Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club collections are all responding, with the volume of all 3 up over threefold in the last 24 hours. The news comes just days after it was revealed that Yuga Labs, the developer of Bored Ape Yacht Club, had obtained the CryptoPunks and Meebits NFT series from Larva Labs.
Disclosure: At the time of composing, the author of this piece owned BTC, ETH, and anumberof other cryptocurrencies.
This story hasactually been upgraded to clarify that ApeCoin is being introduced by ApeCoin DAO, not Yuga Labs.
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