A portion of ApeCoin tokens is allocated to Yuga Labs, which developed BAYC, but this token is not linked to Yuga Labs as it is created by the ApeCoin DAO. ApeCoin DAO helps its community design blockchain games and create physical and virtual merchandise. Some believe that Yuga Labs’ decision to separate from ApeCoin is a step towards decentralisation, while others believe that Yuga Labs distanced itself from the SEC’s regulatory strictures.
ApeCoin and DAO have no direct affiliation with Yuga Labs and its BAYC but are still linked and this is why BAYC NFT holders have received free ApeCoin and will be the main token of the BAYC ecosystem. The team that created ApeCoin believes that it is a meme coin. Along with this, it is also trying to create an ecosystem related to it. Services using this coin will include the MonkeyFirm NFT platform, a decentralized exchange, and play-to-earn gaming projects.
Its trading is available on international exchanges like Binance, Coinbase, Kraken and FTX as well as some Indian exchanges including CoinDCX and Giottus. 62 percent of ApeCoin’s total supply will be allocated to the community. Each token will receive one vote, allowing its holders to give their opinion on upcoming ventures. Only one billion ApeCoin 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.
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