ApeCoin will be Adopted for the Secret Project between Bored Ape YC and Animoca Brands

ApeCoin can be utilized in a ‘secret project’

ApeCoin, the newest NFT-based token powered by the well-known Bored Ape Yacht Club collection, will be adopted by a ‘secret project’, according to VC Animoca Brands.

You can register for the project at https://somethingisbrewing.xyz/, but you have to complete the compulsory KYC.

The ApeCoin was introduced to the NFT community on March 16. ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem.

ApeCoin is owned and operated by the ApeCoin DAO, a decentralized organization where each token holder gets to vote on governance and use of the Ecosystem Fund. Holding ApeCoin is the only requirement for membership in the ApeCoin DAO.

The DAO is supported by APE Foundation, which facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with administering the decisions of the ApeCoin DAO and is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community’s ideas have the support they need to become a reality.

The APE Foundation utilizes the Ecosystem Fund, which is controlled by a multi-sig wallet, to pay its expenses as directed by the ApeCoin DAO and provides an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.

The total supply of ApeCoin is permanently fixed at 1 billion tokens. 15% of ApeCoin supply is airdropped to BAYC MAYC holders, 47% to the treasury, 16% to the Yuga Labs + Charity, 8% to the founders of BAYC, 14% to the launch contributors. The tokens will be available to claim to start tomorrow at 8:30 am ET. The airdrop claim consisting of 15% of the total supply of ApeCoin will be made available to BAYC and MAYC NFT holders.

ApeCoin DAO’s council members include Reddit co-founder Alexis Ohanian, FTX’s Amy Wu, Sound Ventures’ Maaria Bajwa, Animoca’s Yat Siu, and Horizen Labs Dean Steinbeck.

The ApeCoin’s token $APE will be listed on Binance, FTX, Kraken, and more.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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