ApeCoin
Crypto Overview
Overview
ApeCoin (APE) is an ERC-20 governance and utility token launched in March 2022 by ApeCoin DAO, serving as the native currency for the Bored Ape Yacht Club (BAYC) ecosystem. The token is designed to be used for governance, access to exclusive games, merchandise, services, and events.
Purpose and Utility
The primary purposes of ApeCoin include: Governance participation in ApeCoin DAO, Payment token for BAYC ecosystem products and services, Access token for exclusive games and metaverse experiences like Otherside, Currency for third-party projects adopting APE.
Business Model Analysis
The business model centers around creating a decentralized ecosystem where token holders can participate in governance and access various services. The project demonstrates transparency through its open-source nature and clear documentation. No inherent haram activities like interest-bearing mechanisms or gambling are built into the core protocol.
Real-World Adoption
ApeCoin has achieved significant adoption within its ecosystem: Integration with multiple NFT marketplaces, Used as currency in Otherside metaverse, Accepted by various merchants and platforms, Active governance participation through ApeDAO.
Token Distribution
The token distribution is as follows: 62% to the ecosystem fund, 16% to BAYC founders, 14% to launch contributors, 8% to Jane Goodall Legacy Foundation. Founders and early contributors have vesting periods ranging from 12 to 36 months.
Development Activity
The project maintains active development with regular updates to its ecosystem, including the Otherside metaverse platform and various gaming initiatives. The development team regularly publishes updates and maintains transparent communication through official channels.
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.