ApeCoin

ApeCoin (APE) is the native utility and governance token of the Ape ecosystem. On ApeChain, APE is used for:

• Gas fees: All transactions and smart contract executions on ApeChain are paid in APE.
• Native yield: APE held on-chain in external owned accounts (EOAs) automatically earns yield via a rebasing mechanism.
• Staking: APE can be staked in dedicated NFT pools (e.g., BAYC, MAYC, BAKC) through the ApeChain staking contract. Staking rewards and native yield are mutually exclusive.
• Delegated NFT staking: Users can assign NFT “shadows” to another wallet for staking APE while retaining mainnet ownership.
• Cross-chain activity: APE is central to multi-hop bridging and execution across Ethereum, Arbitrum, and ApeChain.
• Development incentives: APE supports developer activities on ApeChain through ecosystem grants and toolkits.

The native yield system on ApeChain is designed to reward users for simply holding or depositing APE. Different yield modes determine how the yield is accrued (e.g., automatic for wallets, disabled for contracts, or delegated to another address). Additionally, ApeCoin is embedded into key infrastructure contracts, supporting rebasing logic, bridge mechanisms, and governance protocols.

ApeCoin was launched by the ApeCoin DAO, a decentralised autonomous organisation that governs the ecosystem. The token was initially proposed and launched in March 2022 by the Ape Foundation, with support from Yuga Labs, the company behind Bored Ape Yacht Club (BAYC).

While Yuga Labs played a significant early role in ecosystem development - including introducing NFT collections like BAYC, MAYC, and BAKC - the governance and direction of ApeCoin are managed by the ApeCoin DAO through community proposals and voting.

ApeChain, the chain infrastructure that powers the latest utility for APE, was developed in collaboration with partners such as Caldera (providing rollup-as-a-service infrastructure), LayerZero (for cross-chain messaging), and other contributors. Governance over core chain elements, including the security council and staking upgrades, is progressively being transferred to the ApeCoin DAO.