Ape
Crypto Overview
Purpose and Utility
APE is the governance and utility token of the APE ecosystem, which includes the Bored Ape Yacht Club (BAYC) NFT collection. The token serves multiple purposes: governance of the ApeCoin DAO, access to exclusive merchandise, games, services, and events within the ecosystem, and as a token for the growing metaverse economy, particularly in projects like Otherside.
Business Model Evaluation
The token's utility is primarily focused on governance and access to digital goods and services. The business model is transparent, with clear documentation available through the ApeCoin DAO. The ecosystem does not directly involve prohibited activities like gambling or interest-bearing products.
Real-World Adoption
APE has achieved significant adoption within its ecosystem. It's actively used for governance voting, purchasing virtual land in Otherside, and accessing exclusive content. Major exchanges and platforms support APE, and it has partnerships with various Web3 projects.
Development Activity
The ecosystem shows consistent development activity, particularly in the Otherside metaverse project. The ApeCoin DAO regularly processes and implements governance proposals, demonstrating active community participation.
Token Distribution
The initial token distribution allocated 62% to the ecosystem fund, 16% to BAYC holders, 14% to launch contributors, and 8% to Yuga Labs and BAYC founders. Vesting periods were implemented for launch contributors and founders.
Platform Technology
APE operates as an ERC-20 token on the Ethereum blockchain. The technology is transparent and does not inherently involve any prohibited activities like interest-bearing mechanisms or gambling.
Crypto Impact
To assign a comfort level investing in Ape from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ape.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.