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ApeCoin (APE) is an ERC-20 token, built on the Ethereum blockchain. It is affiliated with the founders of the popular NFT Bored Ape Yacht Club, Yuga Labs. However, the coin was originally founded by ApeCoin DAO (decentralized autonomous organization). ApeCoin DAO membership is open to all ApeCoin holders.
The explosion in popularity and interest in BoredApe NFTs has resulted in immediate interest in the newly launched ApeCoin. ApeCoin was created to be a protocol layer for community-led initiatives, with the intent of driving decentralized culture forward. The ApeCoin team states the coin is hyper-focused on the growth of community and culture for web3. ApeCoin DAO members will have a voice in decision-making for the ApeCoin ecosystem, which will be focused on gaming, arts, and entertainment.
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*Â Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
Because stablecoins* are designed to maintain a peg to fiat currencies, they can be useful tools. Coins such as USDC, USDT and QCAD generally experience lower volatility than other crypto assets.
*Â Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
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