Bored Ape Yacht Club launches $APE coin starting on March 17, 8:30 AM ET, first for owners of Bored Apes, Mutant Apes, Bored Kennel dogs and then public sale
nftjedi
HAPPENING NOW» Here’s how much Ape Token You Will Receive, according to the ApeCoin site. Full story tonight! pic.twitter.com/tnlxVMc7xv
— The Bored Ape Gazette🍌 (@BoredApeGazette) March 16, 2022
Introducing ApeCoin ($APE), a token for culture, gaming, and commerce used to empower a decentralized community building at the forefront of web3. 🧵
The Bored Ape Yacht Club is entering the next stage of its development.
It is launching the much anticipated $APE coin starting on March 17, 8:30 am ET for owners of Bored Apes, Mutant Apes, and any such owners who also have Bored Kennel dogs. Dogs alone are not entitled to $APE.
The $APE entitles the owner to participate in the $APE DAO: “The APE Improvement Proposal Process (see Governance) will allow ApeCoin DAO members to make decisions regarding Ecosystem Fund allocations, governance rules, projects, partnerships, and beyond. ApeCoin DAO membership is open to all ApeCoin holders.”
The Ape Foundation will steward the ApeCoin: “The Foundation facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with administering the decisions of the ApeCoin DAO, and is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community’s ideas have the support they need to become a reality. The goal of the APE Foundation is to steward the growth and development of the APE ecosystem in a fair and inclusive way. It utilizes the Ecosystem Fund, which is controlled by a multisig wallet, to pay its expenses as directed by the ApeCoin DAO and provides an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.”
The initial Board for the Foundation is:
Alexis Ohanian, Co-founder of Reddit; General Partner & Founder of Seven Seven Six
Amy Wu, Head of Ventures & Gaming at FTX
Maaria Bajwa, Principal at Sound Ventures
Yat Siu, Co-founder & Chairman of Animoca Brands
Dean Steinbeck, President & General Counsel at Horizen Labs
Reminder: token claim for BAYC ecosystem NFT holders will begin at 8:30am ET tomorrow, March 17th at https://t.co/ttG2UFsBLW. The claim period is open for 90 days, but it’s a one-time claim.
