ApeCoin is an ERC-20 token, which means that it is built on the Ethereum blockchain. The supply in circulation is limited to 1 billion tokens. it was announced members of the Bored Ape Yacht Club NFT collection would be getting their very own cryptocurrency, ApeCoin.
Culture has found new expression in web3 through art, gaming, entertainment, and events. The possibilities for blockchain’s impact on culture are so endless that they can’t possibly all be predicted yet. APE is a token made to support what’s next, controlled, and built on by the community. It will serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse.
The total supply of ApeCoin is permanently fixed at 1 billion tokens. No minting capability is exposed through the contract interface, thus the total supply will never increase. Similarly, the contract interface does not expose any token burning capability, so the total supply will never decrease.
In line with the standard practice, a portion of the tokens for contributors to the project will be initially locked. Locked tokens will be unlocked over a period of 48 months, in accordance with the predetermined unlock schedule in the chart below, starting on launch day, March 17, 2022.