The ape coin team just launched their ERC-20 token, APE, which will be used within the APE ecosystem as a governance token, allowing ApeCoin holders to participate in ApeCoin DAO (decentralized autonomous organization).
ApeCoin will also be used to access games, merchandise, events, and services. In this article, I’ll be breaking down what the new ERC-20 token APE is, how it will be used within the APE ecosystem, and why you should consider to Buy ape coin today.
Let’s dive in.
An introduction to ApeCoin
At its core, ApeCoin is a cryptocurrency that allows holders to trade and exchange tokens within our decentralized ecosystem. But rather than being purely an open-ended digital asset, ApeCoin was created to be used as a utility token-much like what we’ve seen from cryptocurrencies such as Tronix, Steem, and WAX Tokens.
Our goal is to create an ecosystem in which customers will want to hold and use APE tokens. In doing so, our long-term plan is also to create a robust community of traders within our platform who are incentivized with both trading fees and performance-based payouts.
What problems does it solve?
It’s clear that each coin and ecosystem has its own utility functions. However, there is still a lack of consistency in how coins are designed; some are good at payments, others allow you to participate in decision-making, and some don’t serve any particular purpose at all.
For example, ApeCoin serves as a governance token for the APE ecosystem. If someone wanted to buy something on our marketplace with Bitcoin or Ethereum, they would have first to convert those currencies into ApeCoins because we use it as our internal payment currency instead of US dollars or other national currencies.
Because it functions so differently from other coins out there. It could prove difficult for customers to understand why they should choose ApeCoin over another coin when purchasing items online. That’s where marketing comes in. We need to make sure potential users know what sets us apart and why they should care about ApeCoin.
Who can benefit from this project?
Although Ape Coin will initially be used within its own ecosystem, there are already talks of expanding to other ecosystems and having it accepted as a form of payment by outside merchants.
If that were to happen, we could all expect to see an explosive increase in demand for Apecoin as people scramble to purchase their goods with APE. The days ahead may be rocky, but long-term growth should easily exceed 1,000% per year once it gains widespread adoption. As I said before – what could possibly go wrong? 😉
Why should you care?
With so many new tokens hitting exchanges, it’s hard to keep track of them all. And as more and more people jump in, it becomes increasingly difficult to pick out just a few tokens from among what has been dubbed an ICO bubble.
With these two concerns in mind, we felt like we had an obligation to our readers and ourselves to put together a guide that would make sense of not only our own token but also those of others.
As you will see further, our pick is based on three criteria: utility and long-term success (measured by market cap), regulatory risk, and ease of understanding and involvement.
How do I get involved?
As an ERC-20 token, it is simple to integrate into your existing contracts, wallets, and exchanges. While it is not necessary to hold a balance of APE tokens in order to access content or interact with services provided by other ecosystem participants, doing so will give you greater flexibility and utility on the platform.
As a governance token, ownership of 1 million ApeCoins or more will allow you to take part in vote casting on important development decisions in terms of funding resources and treasury management.
That being said: all tokens distributed during our upcoming token sale will be immediately transferable upon issuance; anyone purchasing tokens at that time may freely transact them across exchanges or even burn them after use if they choose.