ApeCoin (APE) will become the official cryptocurrency of the BAYC ecosystem, which includes Yuga Labs, a web3 company behind the creation of Bored Apes NFT collections, APE Foundation, and ApeCoin DAO. The latter will be responsible for fund allocation, governance rules, and partnerships. The only requirement for the DAO membership is holding ApeCoins.
So far, several crypto exchanges, including Binance, FTX, and Coinbase, have already announced they would be listing APE today. The total supply of coins is locked at 1 billion; no additional tokens will be minted. According to the ApeCoin website, 62% of APE will be distributed to the community members, 10% will be held by Yuga Labs, 6% will be donated to the charity, and 14% and 8% will be given to the project contributors and BAYC founders, respectively.