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 with other cryptocurrencies or fiat currencies through the APE ecosystem’s many partners and affiliates.
The ApeCoin team has also partnered with other gaming companies that are developing video games around their characters or brands.
What Is Ape Coin?
Before we get into how to buy Ape coin, it’s important to understand what an Ape coin is. As stated above, APE is an ERC-20 token used within the APE ecosystem. But what does that mean? It means that in order to interact with anything on or related to the chain, you must use and own at least one of these tokens.
No exceptions will be made for any reason. Some will say that if you don’t like these rules, you don’t have to play – but as far as a developer is concerned, they would prefer it if no one else tried using their network resources without paying their fair share of fees in advance.
At its core, Apecoin is a digital currency created by developers who wanted to create a new form of decentralized governance. This new system allows users to vote directly on any proposed changes that may affect the future development or value of the platform.
In addition, users can also vote directly on which projects should receive funding from block rewards and transaction fees.
What Is An ERC-20 Token?
ERC stands for Ethereum Request for Comments and is a system that Ethereum wallets use to interact with smart contracts. ERC-20 allows programmers to develop their own tokens on top of Ethereum in a standard way, but it is not required.
Tokens that have been created with support from developers can easily integrate with services that operate under an ERC-20 protocol or other kinds of tokens, and they can also be stored in most Ethereum wallets.
You don’t need to understand how it works at a technical level; all you need to know is what tokens are useful for and how you can purchase them through an exchange. In fact, many cryptocurrency exchanges only deal in ERC-20 tokens.
However, suppose you want to get involved in projects that require different protocols, such as those associated with NEO. In that case, you will need a compatible wallet. It’s worth noting that some platforms allow users to create their own ERC-20 tokens as well.
How Does ApeCoin Work?
To use ApeCoins, you’ll need to install a special wallet app that will be available on both iOS and Android. In order to purchase items within any of our ecosystems, simply scan your smartphone over an NFC point-of-sale device and complete your transaction in a single tap.
You can also transfer funds via text message using our API. To participate in governance, you’ll need to stake your tokens in our DAO contract, which will allow you to vote on key issues concerning our ecosystem.
Our roadmap for 2022 is divided into 8 quarters with 3 month long sprints that will focus on one specific product within each quarter. Once a quarter ends, we will work on delivering that quarter’s product and then collect feedback from users before moving forward with further development.
Is it too late to invest in ApeCoin?
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Final Thought
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