ApeCoin is an ERC-20, Ethereum-based token meme token. As a utility and governance token of the APE ecosystem and the popular NFT, Bored Apes Yacht Club (BAYC), ApeCoin has numerous use cases. For example, ApeCoin holders can vote in the DAO and access exclusive merchandise, services, games, and events. ApeCoin also incentivizes developers and participants on the network to incorporate it into their games and applications. It can also be used as a cryptocurrency, which serves as a means to transact within the ecosystem. The ApeCoin protocol is the code that runs ApeCoin. The APE ecosystem comprises three important governance structures: Ape Foundation, ApeCoin DAO, and the ApeCoin DAO board. All three play an important role in securing the network and making it open and permissionless. This makes it easier for users to collaborate and develop projects and applications on the open-source network. ApeCoin price and tokenomics The total supply of APE tokens is capped at 1 billion. Sixty-two percent of the tokens will be distributed towards the ApeCoin DAO community, with 15% allocated towards BAYC and MAYC NFT holders. Sixteen percent will be channeled to Yuga Labs, with a portion allocated to primatologist Jane Goodall's charity foundation supporting real-life apes. Fourteen percent will go towards contributors who helped to launch the ApeCoin protocol. The remaining 8 percent will be set aside for the founders of Yuga Labs and BAYC.