Ape Coin (APE)
- Category: NFT
- Coin Launched: November, 2017
- Resources: White Paper
- Official Website: Ape Coin
- Reddit: Ape Coin
Ape Coin History / Information / Buying / Staking
APE COIN HISTORY
Yuga labs have grown to become the leading NFT brand with the launch of its Bored Ape and Mutant Ape NFT collections. Ownership of these premium NFTs has evolved into an elite movement of highly influential figures who hang out in the Bored Ape Yacht Club. However, to power the ecosystem of apps and services deployed by Yuga Labs and third-party brands, ApeCoin was launched. ApeCoin started trading in the early hours of March 17, 2022 and was first distributed to Bored Ape and Mutant Ape NFT holders, who received about 10000 and 2000 tokens respectively.
HOW APE COIN WORKS
ApeCoin is an ERC-20 token, a particular flavor of build-it-yourself cryptocurrency on the Ethereum blockchain. Most of the Ethereum-based social tokens that have taken off over the past year (think FWB, for the social club Friends with Benefits, and WRITE, for the Web 3 crowdfunding platform Mirror) are built using this framework. Unlike NFTs, they’re meant to be “fungible” – as with bitcoin (BTC), any one ApeCoin should be worth exactly as much as any other ApeCoin, and you can buy and sell them freely on what is known as a decentralized exchange, a kind of digital trading post for cryptocurrencies.
BENEFITS OF USING APE COIN
Some of the benefits of using Ape Coin are:
SUPPORT HIGH VOLUME EXCHANGES
These exchanges are highly regulated, secured, have great reputations, process millions of orders, support many payment methods, and have many cryptocurrencies to pair APE with. This way, any trader who takes a stake in APE will not fall victim to slippages since millions are pouring liquidity into the cryptocurrency.
As developers find more ways to integrate APE in their products and services, APE is going to move from not having mainstream use cases to finally breaking out into being used as transactional currencies by millions.
CAN YOU STAKE APE COIN
vEmpire launches staking pool for Ape Coin the staking process enables investors to earn passive income. When an investor stakes APE, vEmpire will utilize investors' stake by purchasing other Ape-based assets and playing games within the Ape ecosystem, with assistance from vEmpire's Gaming Guild.
OTHER METHODS TO MAKE MONEY WITH APE COIN
Ape Coin supports lending and borrowing of over 25 tokens, such as ETH, DAI, LINK, and UNI. Users can lend a specific token and earn interest by contributing their tokens to an Ape Coin liquidity pool, from which other users can then borrow. When users contribute their tokens to the liquidity pool, they receive in return what is called “aTokens,” which represents the underlying token (at a 1:1 ratio) plus accumulated interest.
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