Yuga Labs has stated on Twitter that 62 percent of the total supply of APE will be allocated to the community. ApeCoin will initially be used as an in-game token for Yuga Labs and later its sales to fund various digital and other projects. Each token will receive one vote, allowing its holders to give their opinion on upcoming ventures. According to the Yuga Labs website for ApeCoin, only one billion ApeCoins will be created and 9.75 percent will be held by Yuga Labs. In addition, 14 percent will go to the contributors to the launch, 8 percent to the founders of Yuga Labs and 6.25 percent will be donated to the Jane Goodall Legacy Foundation, which works for the conservation of chimpanzees.
Bored Ape and Mutant Ape NFT holders will get 15% of the total allocation. 47 percent of the total supply will be released to the general public as part of the APE Ecosystem Fund. Yuga Labs expects ApeCoin to be traded on major crypto exchanges.
Bored Ape Yacht Club recently donated one million dollars (about Rs 7.5 crore) to Ukraine’s official Ethereum wallet. Ukraine has been receiving aid from around the world since Russia’s attack on Ukraine late last month. Several countries as well as unknown crypto traders have helped Ukraine. The Ukrainian government had previously sought donations in Bitcoin, Ethereum, Tether, and Polkadot. After this, the range of cryptocurrencies for donation was expanded to include Dogecoin, TRON, Solana and NFT as well. Electronic fund transactions for citizens in Ukraine have been limited. Because of this people are now converting currency to bitcoin and other crypto tokens. This has led to an increase in transactions in the crypto market in the last few days.
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