In recent days, the cryptocurrency Ape Coin has seen its value rise by more than 1000% in less than an hour. In this article we will talk about this cryptocurrency that surprised many observers. What is the project related to this cryptocurrency that is now available on most major exchanges. Should I buy Ape Coins, and how?
Before going into more detail on how the Ape Coin works, we will start by giving a quick opinion on the relevance of this investment. This is perhaps what some of our readers are most interested in, although we strongly advise you to read the entire article and do some further research before investing any money.
Remember that this is NOT investment advice, but only a subjective opinion of our team members.
For us, the Ape Coin project is an extremely interesting project, as we will detail later, however its token today has a very volatile value. If you don’t want to take too much risk, it may be best to wait a few weeks for its price to stabilize.
To buy Ape Coin, several solutions are available to you among the many exchanges on the web. We can recommend the www.bitcoinera.io platform, which is a great platform for you to connect with a certified broker in your area. This professional will accompany you in your investment process. What is Ape Coin’s project?
Ape Coin is a token that will be useful to a large-scale project developed by its creators. It is this token that will allow the community to control the project and develop it. In this case, the community at the initiative of the Ape Coin is the Bored Ape Yatch Club to which the newspaper Le Monde had dedicated an article. This is an iconic community in the world of NFTs. The Ape Coin token will be the decentralized protocol layer for initiatives led by this community that is very focused on NFTs and the culture around the metaverse. The APE cryptocurrency will therefore be fundamental to the success of the project. It will allow members of the ecosystem to influence the decisions that will be made, based on governance rules. What is the DAO EPA?
ApeCoin DAO, is a decentralized autonomous organization (DAO) is an organization open to all people who own ApeCoin. Everyone, including you, will be able to be part of this organization, if you are holders of Ape Coin cryptocurrencies. If you visit the Ape Coin token website, you will be able to learn more about the project and cryptocurrency, but also about the organization of governance, the values and objectives related to this project, and much more. What is the Ape Foundation?
On the site, you can also discover the team that created Ape Coin, it is the “Ape Fundation” that launched this project. According to the website, “The goal of this team is to administer the DAO’s proposals and serve the vision of the community.” This team will be appointed through a voting process: “The initial Board has a six-month term, after which the members of the DAO vote each year to appoint the members of the Board.” The owners of Ape Coins will therefore be able to vote to decide who they want to see lead the organization, and make decisions for the future of the organization.
Today, this team of the Ape Foundation is composed of leading personalities, such as Alexis Ohanian who is one of the founders of the famous Reddit platform, known for being at the forefront in a large number of areas related to cryptocurrencies and NFTs, and for being a forum allowing great freedom of tone and expression, a value of freedom that fits perfectly with the spirit and mentality around blockchain and cryptocurrencies. Alexis Ohanian is also the founder of Seven Seven Six, a venture capital firm that is also very special and whose mission is to “support creators who change the world.”
In addition to Alexis Ohanian, the team is composed of other no less illustrious members such as Amy Wu senior manager at FTX in the Gaming part or Maaria Bajwa, director of Sound Ventures. We invite you to consult the complete list of the Ape Foundation team on the Ape Coin token website.
What will be the concrete use of the Ape Coin token?
Ape Coin is an ERC-20 type utility and governance token, which means that it is hosted on the Ethereum blockchain. We invite you to consult this article from the Ethereum France website, for more details on how ERC-20 tokens work.
As for the Ape Coin, it is used within the EPA ecosystem to strengthen a decentralized community at the forefront of web 3.
It performs several functions:
Important: the issuance of the token
An important data on the Ape Coin is that like Bitcoin, there will be a limit to the issuance of this cryptocurrency. In total, there will be a billion tokens that will be created, not one more. This is important because it will result in not having an inflationary token in the long term.
In the same way, there will be no tokens that will be burned, with a “burning” system present in some blockchain projects to mechanically and gradually raise the value of the cryptocurrency. Check out this article from CoinTribune, to learn more about burning.