ApeCoin
Crypto Overview
Project Overview
ApeCoin (APE) is an ERC-20 governance and utility token launched in March 2022 by ApeCoin DAO, which is separate from but supported by Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) NFT collection. The token serves as the native currency for the APE ecosystem.
Intended Utility
The token's primary purposes are: governance rights in the ApeCoin DAO, access to exclusive games and services, facilitating transactions in the wider APE ecosystem including marketplaces and games like Benji Bananas, and serving as a token for the upcoming Otherside metaverse project.
Actual Utility Assessment
The token has demonstrated actual utility through: Active governance participation in ApeCoin DAO with over 260 AIPs (ApeCoin Improvement Proposals) processed, Integration in multiple games and metaverse projects including Benji Bananas and NFT Worlds, Usage as payment method in various NFT marketplaces.
Token Distribution Analysis
The total supply is 1 billion tokens, distributed as follows: 62% to the ecosystem fund, 16% to Yuga Labs and BAYC founders, 14% to launch contributors, and 8% to BAYC founders. Notable is the presence of a 12-month cliff and 36-month vesting schedule for allocated tokens, showing commitment to long-term development.
Development Activity
The project shows substantial development activity with regular updates to the ecosystem, particularly in gaming integrations and metaverse development. The Otherside metaverse project represents significant technical development.
Crypto Impact
To assign a comfort level investing in ApeCoin 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 ApeCoin.
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.
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You can change your vote if you change your mind.