ApeCoin DAO has confirmed the launch of ApeCoin which is expected to drop to holders of Bored Ape Yacht Cub and Mutant Ape Yacht Club NFTs.
The release is expected to take place tomorrow at 12:30 UTC as it was revealed in a tweet from the official Bored Ape Yacht Club Twitter account.
Holding APE will offer membership to the ApeCoin DAO which is a DAO that plans to lets users vote on governance issues for the ecosystem.
The board for The Ape Foundation includes Alexis Ohanian (Reddit’s Co-Founder), Amy Wu (FTX), Maaria Bajwa (Sound Ventures), Yat Siu (Animoca), and Dean Steinbeck (Horizen Labs).
From the total 1 billion token supply 15% will be airdropped tomorrow to those who hold BAYC and Mutant Ape Yacht Club NFTs. More tokens will be sent to customers who own NFTs from the Bored Ape Kennel Club collection aside from their BAYC and MAYC NFTs.
In the end, from the total supply, 62% will go to the DAO, 16% to Yuga Labs, 14% to launch contributors, and 8% to the founders.
There are plans for Coinbase to support APE on an experimental basis starting tomorrow at 16:00 UTC – this is if the key liquidity thresholds are indeed met.
As a result of this news, secondary markets where you can find the BAYC, MAYC, and BAKC collections have recorded an increase in volume over threefold in the previous 24 hours.