ApeCoin

What is ApeCoin?

ApeCoin is designed for the Web3 economy. The emergence of web3 has given culture a fresh outlet through art, gaming, entertainment, and events. The potential impact of blockchain on culture is vast, with numerous possibilities that are yet to be fully anticipated. APE, as a token, is created to empower the future, managed and developed by the community. It is set to function as a decentralized protocol layer for community-driven initiatives that propel culture towards the metaverse.

What is the Ape Foundation

The APE Foundation serves as the custodian of ApeCoin, acting not as a controller but as the foundational layer upon which ApeCoin holders within the ApeCoin DAO can construct.

The Foundation facilitates decentralized and community-driven governance, with the aim of increasing decentralization over time. Its responsibilities include overseeing the decisions made by the ApeCoin DAO, as well as managing day-to-day operations, accounting, project management, and other necessary tasks to ensure the support required for the community's ideas to materialize.

The primary objective of the APE Foundation is to guide the growth and advancement of the APE ecosystem in an equitable and inclusive manner. It utilizes the Ecosystem Fund, managed by a multisig wallet, to cover its expenses as directed by the ApeCoin DAO. Additionally, the Foundation provides an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.

ApeCoin DAO

The ApeCoin DAO is established based on the essential role that decentralized governance plays in constructing and overseeing a globally distributed community, thereby contributing significantly to the success of the APE ecosystem.

Through the APE Improvement Proposal Process, members of the ApeCoin DAO can actively participate in decision-making related to Ecosystem Fund allocations, governance regulations, projects, partnerships, and more. Membership in the ApeCoin DAO is inclusive and open to all ApeCoin holders.

The APE Foundation website serves as the central hub for the DAO, offering an interface to educate members about the governance process and providing easy access to streamline operations. Proposals begin in Discourse, where AIP (Ape Improvement Proposal) Ideas are submitted and must be confirmed by a moderator before appearing to the community. A wallet authentication process is required for ApeCoin holders to post ideas or provide feedback. Snapshot is utilized for voting, with approved proposal drafts made available for voting after passing the necessary approval processes. A wallet authentication process is also required for ApeCoin holders to participate in voting on Snapshot.

ApeCoin Team Background

ApeCoin, inspired by Yuga Labs' Bored Ape Yacht Club project, is a decentralized initiative created for use within the growing APE Ecosystem, supported by the APE Foundation. The ApeCoin DAO is dedicated to fostering and sustaining the APE Ecosystem equitably and inclusively, providing an infrastructure for ApeCoin holders to engage in collaborative efforts through open and permissionless governance processes.

ApeCoin Project Development

The ApeCoin community is actively searching for a qualified entity to develop ApeChain, a dedicated blockchain aimed at scaling $APE and fostering the growth of the ApeCoin ecosystem. In response to community discussions, an official Request for Proposals (RFP) process for ApeChain has been initiated by the APE Foundation. The purpose of this RFP is to streamline the consideration of ApeChain proposals by the ApeCoin DAO.

Proponents interested in building ApeChain are encouraged to highlight specific features and characteristics in their proposals. These include considerations for scalability, upgradeability, security, decentralization, tokenomics, ecosystem development, and gaming support. The APE Foundation aims to facilitate the evaluation of ApeChain proposals, focusing on essential aspects such as throughput, transaction fees, consensus models, account abstraction, and the use case of $APE.

The RFP emphasizes the importance of aligning proposals with the vision of the ApeCoin DAO, seeking innovative solutions that contribute to the success of the ApeCoin ecosystem. Proponents are invited to provide detailed responses to specific questions and address various aspects, including the optimization of ApeChain for high-performance gaming transactions, robust support for Non-Fungible Tokens (NFTs), cross-platform compatibility, and user-centric design for an enhanced gaming experience.

ApeCoin Price Analysis

As of November 24 2024 ApeCoin has a marketcap of $941M. This is {{percentagefromath}} from its all time high of $26.70. In terms of its tokenomics, there's a total supply of 1B with 72% currently outstanding. Keep in mind ApeCoin has a fully diluted value of $1.3B which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude