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One article on APECOIN: Economic model of BAYC

Source:   LBank Academy Plate:   NFT Reading:   Intermediate Time:   2020-04-25
Bored Ape Yacht Club has issued coins. According to Yuga Labs, ApeCoin serves as the primary token for the Bored Ape Yacht Club ecosystem and future Yuga products and services.
A famous line on the official website with the label, APECOIN IS FOR THE WEB3 ECONOMY.
"Culture has found new ways of expression in Web3 through art, games, entertainment, and events. The possibilities of the blockchain's impact on culture are so endless that they cannot all be predicted yet. APE is a token to support the next goal, controlled and built by the community. It will serve as a decentralized protocol layer for community-led initiatives that drive culture toward a meta-universe."
ApeCoin, currently owned and operated by the ApeCoin DAO, allows each token holder to vote on the governance and use of the ecosystem fund, and participation in the ApeCoin DAO is contingent on holding ApeCoin. this DAO is supported by the Ape Foundation, which was created to act as the legal steward of ApeCoin and manage decisions made by the ApeCoin DAO community. (Someone needs to sign the check.) At the same time, there is a foundation full of bigwigs to oversee it.
For token distribution, 62% of the total ApeCoin supply is allocated to the ApeCoin community, with 15% of the total given to BAYC/MAYC holders.
The three major organizations behind ApeCoin
There are three major organizations behind ApeCoin, namely the APE Foundation, the ApeCoin DAO, and the Board of Directors.
The APE Foundation is the management of ApeCoin. It is not an overseer but a base layer that ApeCoin holders in the ApeCoin DAO can build. Its mission is to manage the decisions of the ApeCoin DAO. It is responsible for the day-to-day management, documentation, project execution, and other tasks to ensure that the ideas of the DAO community are supported and become a reality.
The ApeCoin DAO exists because decentralized governance is essential to building and managing a globally decentralized community. The APE improvement proposal process will allow ApeCoin DAO members to make decisions about ecosystem fund allocations, governance rules, projects, partnerships, and other aspects of ApeCoin DAO membership is open to all ApeCoin holders Open.
The Board of Directors, a special committee of the APE Foundation, is at the request of ApeCoin DAO members to provide oversight of the Foundation's governance and manage DAO proposals and serve the community. The initial term of the Board of Directors will be six months, after which DAO members will vote on the Board of Directors annually.
Current board members include:
Alexis Ohanian
Co-founder of Reddit; Founder of 776 (VC)
Amy Wu
Head of Venture Capital and Gaming at FTX
Maaria BajwaPrincipal at Sound Ventures
Yat Siu
Co-Founder, Animoca Brands
Dean Steinbeck
President and General Counsel, Horizen Labs
So, WEB3 is still WEB3 for the big boys.
ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem. As the open-source protocol layer of the ecosystem, ApeCoin serves several purposes.
Governance: ApeCoin is the governance token of the ecosystem, allowing ApeCoin holders to participate in the ApeCoin DAO.
Unified Spending: ApeCoin is the utility token of the ecosystem, providing a shared and open currency for all participants.
Access: ApeCoin provides access to certain parts of the ecosystem that are otherwise unavailable, such as exclusive games, goods, events and services.
Incentives: ApeCoin is a tool for third-party developers to participate in the ecosystem by integrating APE into services, games and other projects.
Token Allocation
The total supply of ApeCoin is permanently fixed at 1 billion. As is standard practice, a portion of project contributors' tokens will be initially locked, with locked tokens unlocked over 48 months beginning on the March 17, 2022 release date, according to a scheduled unlocking schedule in the table below.
The tokens are divided into four main components:
Ecosystem Fund (62%): 150 million of these, or 15% of the total, are airdropped to BAYC/MAYC, all of which are initially unlocked, and the other 47% go to the DAO and funding pool, 117 million of which are initially unlocked and then unlocked in tranches over 48 months.
YUGA LABS + Charities (16%): 15% to Yuga Labs and another 1% to Jane Goodall Legacy Foundation for a one-year lock-up period followed by a 36-month unlock.
Launch contributors (14%): to companies and individuals who helped make this project a reality.
BAYC Founders (8%): given to four founders for a 12-month lock-up period followed by a 36-month phased unlock.
Rumors and Expectations
Many in the community have expectations for the project. The core logic is that with the strong influence of BAYC, a series of ecologies can be built, a true meta-universe of BAYC. The latest revelation is that Yuga Labs, a BAYC development company, plans to launch MetaRPG. This game-centric meta-universe will expand the BAYC world.
Rumor has it that Yuga Labs plans to conduct two metaverse land sales to raise 200,000 pieces in March and August of this year. In addition, Yuga Labs and Animoca Brands will also collaborate on a racing game.