ApeCoin

Halal Rating :
Questionable
Last Price $1.22 Last updated:
Rank 105
1D Change 17.65 %
Market Cap $918.29m
Circulating supply 752,651,515
Maximum supply 1,000,000,000
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Collectibles & NFTs
  • Content Creation
  • Gaming
  • Entertainment
  • DAO
  • Governance
  • Metaverse
  • Animoca Brands Portfolio

Overview

ApeCoin (APE) is an ERC-20 governance and utility token launched in March 2022 by ApeCoin DAO, connected to the Bored Ape Yacht Club (BAYC) ecosystem. The token serves multiple purposes within the ecosystem, including governance rights, access to exclusive games and services, and as a token for the broader Web3 economy.

Intended Utility

The primary intended utilities of ApeCoin include: Governance token for ApeCoin DAO, where holders can vote on ecosystem decisions; Access token for BAYC-related games and metaverse experiences, particularly in Otherside; Payment token for BAYC merchandise and services; Incentive mechanism for third-party developers to participate in the ecosystem.

Actual Utility

The token has demonstrated actual utility through: Active governance participation with regular community proposals and voting; Integration into multiple games and metaverse projects; Adoption by various merchants and platforms for payments; Growing ecosystem of third-party developers building on the platform.

Token Distribution

The total supply is fixed at 1 billion tokens, distributed as follows: 62% to the ecosystem fund and ApeCoin DAO treasury; 16% to Yuga Labs and BAYC founders; 14% to launch contributors; 8% to BAYC founders. Vesting periods are in place for team allocations, with a 12-month cliff and 36-month vesting schedule.

Technology and Revenue Model

ApeCoin operates on the Ethereum blockchain as an ERC-20 token. The revenue model is based on ecosystem growth and adoption rather than lending or interest-bearing mechanisms. The token does not involve any inherent riba-based activities.

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.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

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