Key points to remember
- ApeCoin has been officially announced and is expected to drop tomorrow.
- 15% of the total token supply will go to Bored Ape Yacht Club and Mutant Ape Yacht Club NFT holders starting tomorrow.
- The coin could also start trading on the exchange as early as tomorrow.
Share this article
ApeCoin DAO announced the launch of ApeCoin ($APE), which will be awarded tomorrow to current Bored Ape Yacht Club and Mutant Ape Yacht Club NFT holders.
ApeCoin will fall tomorrow
The highly anticipated governance and utility token for Bored Ape Yacht Club will be released tomorrow at 8:30 a.m. EST, according to a tweet on the official Bored Ape Yacht Club Twitter account.
Holding APE will grant membership to the ApeCoin DAO, a decentralized autonomous organization that will vote on matters of ecosystem governance. The Ape Foundation, which the “legal steward” formed to facilitate the direction and development of the DAO and the ApeCoin ecosystem, is led by a board of directors that includes Alexis Ohanian (co-founder of Reddit), Amy Wu (from FTX), Maaria Bajwa (Sound Ventures), Yat Siu (Animoca) and Dean Steinbeck (Horizen Labs).
15% of the total 1 billion token supply will be made available tomorrow via airdrop for Bored Ape Yacht Club and Mutant Ape Yacht Club NFT holders, with additional tokens awarded to those who hold Bored Ape Kennel NFTs Club alongside their BAYC or MAYC NFT. . A total of 62% of the total token supply will ultimately be allocated to the DAO, 16% to Yuga Labs, 14% to Launch Contributors, and 8% to Founders.
According to a Twitter feed From the official Coinbase Assets account, Coinbase will support APE on an experimental basis starting tomorrow at 12:00 PM EST, 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 responding, with volume for all three more than tripling in the past 24 hours. The news comes just 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 this article, the author of this article owned BTC, ETH, and several other cryptocurrencies.
This story has been updated to clarify that ApeCoin is launched by ApeCoin DAO, not Yuga Labs.
NFT Express: your gateway to the world of NFTs
At Tatum, we’ve already made it easy to create your own NFTs across multiple blockchains without having to learn Solidity or create your own smart contracts. Anyone can deploy…
Bored Ape Yacht Club Creator reportedly in investment talks with a16z
Venture capital firm Andreessen Horowitz is reportedly in investment talks with Yuga Labs, the team behind Bored Ape Yacht Club. An investor is interested in Bored Apes Yuga Labs…
Bored Ape Yacht Club Hype Continues With $2.8 Million Sale
A Bored Ape Yacht Club NFT sold for $2.8 million last night as demand for the collectible soars to new heights. The current floor price for a Bored Ape is 116.9…