What is Apecoin (APE)?

APE is the utility and governance token that powers Yuga Labs, a leading company that manages and creates various digital assets in the NFT space. Launched in March 2022, Yuga Labs airdropped 150 million ApeCoin(APE) to the holders of some of its most successful NFT collections launched, like Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and others.

Created as an ERC-20 token, ApeCoin supports decentralized community development by giving its holders the right to participate in the ApeCoin DAO. It also serves the utility of a decentralized open currency while providing access to exclusive games, merchandise, events, and services of the Ape ecosystem.

APE has a capped supply of 1 billion tokens with no token-burning contracts. The team behind APE has initially locked a portion of this supply and will keep unlocking it over 48 months, starting from its March 17, 2022, launch date. Eventually, four groups will receive the total APE supply. This allocation includes 15% for BAYC/MAYC NFT holders, 47% for DAO treasury resources, 16% for Yuga Labs and foundations, 14% for its initial launch contributors and 8% for BAYC founders.

How Does ApeCoin Work?

The Ape ecosystem governs itself through the ApeCoin DAO that follows a proposal voting process. Under it, APE holders can vote on the proposals and policies regarding the fund distribution and further developments of the Apecoin ecosystem. However, only the members of ApeCoin DAO can participate in the idea submission, commentary, proposal submission and voting. The requirement to become an ApeCoin DAO member is to hold at least one APE coin. It is also possible for the DAO members to delegate their vote to other trusted DAO members.

Since APE is an ERC-20 token, it is technically acceptable by most Ethereum-based dApps and NFT traders. For instance, anyone owning any BAYC or MAYC NFT can claim 10,094 APE and 2,042 APE respectively. This APE allocation was done by calculating the difference in floor price between each NFT collection a month before the token claim launch. If someone owns Bored Ape or Mutant Ape NFT with a companion of Bored Ape Kennel Club NFT, they will qualify for a few more APE coins.

Additionally, ApeCoin serves multiple other purposes in the ecosystem. It further enables its holders to access exclusive features of the Ape ecosystem. As a part of its expansion plan, the Ape ecosystem also allows third-party developers to use ApeCoin as an incentive in their games and projects. For example, play-to-earn (P2E) game Benji Bananas has adopted APE as an incentive for its players.

How to Buy ApeCoin (APE) in India?

There are many platforms where you can invest and Buy Ape coin (APE) in India.

One such platform is Flitpay. To buy APE in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy APE and execute the purchase.

You can instantly convert your INR to APE and APE to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After I Buy ApeCoin (APE)?

APE coins can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the APE till it reaches a high price, and then you can sell it through Flitpay's OTC order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

FAQs

What is ApeCoin (APE)?

APE is the governance and utility token of the Apecoin ecosystem. It is affiliated with Yuga Labs, the parent company of some of the most successful ape cartoon-themed NFT collections, like BAYC and MAYC. The maximum supply of APE is 1 billion.

What is the ApeCoin (APE) price in India?

Check out the current INR price of APE crypto in India on Flitpay.

Which is the best crypto app in India to buy ApeCoin (APE)?

Flitpay is the best cryptocurrency app in India to buy ApeCoin, buy Ethereum, or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of the ApeCoin (APE)?

ApeCoin (APE) gains significant credibility in the crypto realm by seamlessly integrating with premier NFT collections such as Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). This affiliation underscores its authenticity and relevance within the NFT space. Its finite supply distinguishes APE from numerous cryptocurrencies boasting unlimited issuance, positioning it as a sound investment choice. Furthermore, ApeCoin offers enticing utility through its involvement in the ApeCoin DAO and access to exclusive features.

Is it safe to invest in ApeCoin (APE) in India?

Yes, investing and trading APE coin is safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying APE crypto. It offers real-time prices and advanced investing features.