APE ecosystem
What is ApeCoin and how does it work?
The first quarter of 2022 was abuzz with the talks about ApeCoin (APE), a cryptocurrency adopted to be the native coin of Bored Ape Yacht Club (BAYC), developed by Yuga Labs. Since the ApeCoin DAO came into being in April 2021, the BAYC has been among the top nonfungible token (NFT) collections with a vibrant community. The BAYC collection showcases apes that seemingly look bored. Depending on your mood and choice, you can choose these apes down to the tiniest details. Investors across the world have put their money into these artworks and the buyers include the likes of Justin Bieber and Eminem. As an ERC-20 governance and utility token of the APE ecosystem, ApeCoin is administered by a decentralized autonomous organization, or DAO. Anyone holding the coin is allowed to cast their vote on...
