ApeCoin (APE) is an ERC-20 token used within the APE ecosystem launched In mid-March of 2022.
ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO. ApeCoin will also be used to access games, merchandise, events, and services provided by the APE ecosystem and its members.
However, if you want to get ahead of the curve, you can buy APE now, before it hits exchanges and transactions are made easy and convenient via the use of atomic swaps. Read on to learn about atomic swaps.
Why Do We Need an Ecosystem Token?
Every ecosystem has a primary use case. APE is designed to serve as a medium of exchange and a unit of account within our games, merchandise, events, and services ecosystem. Every time you want to transact something in our ecosystem or send value to another user, you’ll be paying APE instead of ETH or USD.
To keep growing our business effectively and efficiently, we need to develop sustainable methods for locking up capital while still allowing users to transact within our games easily. An ERC-20 token will allow us to achieve both.
What Can I Do With My Tokens?
To use one or more of these services, you must hold at least 100 APE tokens in a non-exchange wallet. Once you have your tokens, there are no additional fees for any service. Purchasing and using products and services will require less than one APE token per purchase/use.
If you want to convert your APE into fiat currency, visit CoinExchange; they currently have an 80% buyback rate on APE (20% higher than their normal buyback rate). If you want to contribute to community governance, you may join and participate in a vote within our platform’s voting app.
How to Get Involved
Decentralized applications like APE DAO are designed to enable users to transact directly. With no intermediaries to get in between, trading and investing become more fluid and secure. However, there will be some point in time when you might want or need to exchange your tokens for other cryptocurrencies or fiat currencies.
So, where can you do that? Since a decentralized application doesn’t have a central entity managing it, there is no centralized wallet address either (where your tokens could be stored).
In order to exchange APE for another cryptocurrency, you’ll need an independent third-party service such as ShapeShift or Changelly-something that works similarly to Coinbase but doesn’t actually store any of your funds.
How Will The Token Be Used?
Upon launch, APE will be used to access games such as APE’s Casino and APE’s Adventure. Our team has already developed these applications and requires only minor modifications to prepare for launch.
The APE Marketplace will also go live on March 15th, 2023, along with APE-holding voter rights in the DAO. Purchases within these applications are made using APE. All games can be accessed using an unlimited number of tokens; no fixed prices exist within these applications.
In some cases (such as APE’s Adventure), users must pay tokens in order to unlock content or continue playing through certain points in a game.
Where Can I Buy and Sell APE?
Wanna know where to buy ape coins? After launching, APE is now available on major cryptocurrency exchanges, including Binance, Upbit, and GDAX. Suppose you’re interested in buying or selling APE tokens outside of those three places. In that case, you’ll have to wait until other exchanges support it.
The team behind APE is hoping that additional exchanges will list their token soon so they can give more people access to their products. This is especially important because it allows early adopters and holders more freedom when deciding how to spend (or save) their crypto.
Until then, though, if you want to buy APE tokens, make sure you do it through one of these three exchanges first.
Understanding governance tokens and their utility is crucial in buying low and selling high. As such, it’s vital to know how your crypto-assets will be used within their respective ecosystems and how they can be utilized to deliver actual value.
For example, if you have Ether, not only are you buying into one of the most valuable cryptocurrencies on earth, but you’re also purchasing GAS for cheap (sometimes free).
This is important for Ethereum holders because GAS is a necessary utility required by smart contracts to function; therefore, if a project needs to make use of smart contracts (e.g., Golem or ARK), it must pay for that privilege in ETH or GAS – making them extremely competitive network fees within their respective ecosystems.