TechFlow news — On March 17, according to an official announcement, Yuga Labs, the parent company of BAYC, has officially launched the ApeCoin token as the primary token system for the entire BAYC ecosystem and future products and services under Yuga Labs. According to the official ApeCoin Twitter account, ApeCoin is a token designed for culture, gaming, and commerce, aiming to build a decentralized community at the forefront of Web3.
62% of the total ApeCoin supply will be allocated to the ApeCoin community, including a 15% airdrop. This 15% airdrop will be distributed to holders of relevant NFTs (BAYC/MAYC, as well as BAKC dogs paired with BAYC/MAYC). The airdrop will go live at 8:30 AM Eastern Time on March 17 (20:30 Beijing Time). The official statement noted that ApeCoin will soon be available for everyone and will be listed on major cryptocurrency exchanges as quickly as possible.
The decentralized organization ApeCoin DAO owns and operates ApeCoin. Each token holder can vote on governance and the use of the ecosystem fund. Holding ApeCoin is the sole requirement for becoming a member of ApeCoin DAO. The DAO is supported by the Ape Foundation, which is tasked with managing legal affairs related to ApeCoin and executing decisions made by the ApeCoin DAO community.
