We're providing weekly updates to keep you in the loop on what's happening in the ApeCoin DAO and the Governance Working Group (GWG)!

5 AIPs to vote on this week; check them out here: https://snapshot.org/#/apecoin.eth

@JRNYcrypto allocated 2 million tokens for DAO voting

@AnnieRawrz created Emote Stickers for the Discord server!

- [AIP-347] The Ape Assembly initiative has been terminated, Stewards will now be elected by a DAO-wide vote and the Secretary will now be elected by the full group of Stewards; read the full announcement on Discord

- With the Election Nomination Window closing yesterday, applications are now being reviewed until 11/22 (Wednesday) and will start being posted to the Forum on 11/23 (Thursday)

- Plus 32 AIPs pending Implementation updates

- [AIP-106] Working on implementation of POAPs

We're providing weekly updates to keep you in the loop on what's happening in the ApeCoin DAO and the Governance Working Group (GWG)!  🎙️ Community Highlights 5 AIPs to vote on this week; check them out here: https://snapshot.org/#/apecoin.eth @JRNYcrypto allocated 2 million tokens for DAO voting @HorizenLabs began voting on AIPs @AnnieRawrz created Emote Stickers for the Discord server!  🏗️ GWG Updates - [AIP-347] The Ape Assembly initiative has been terminated, Stewards will now be elected by a DAO-wide vote and the Secretary will now be elected by the full group of Stewards; read the full announcement on Discord - With the Election Nomination Window closing yesterday, applications are now being reviewed until 11/22 (Wednesday) and will start being posted to the Forum on 11/23 (Thursday)  🧱 AIP Implementation News - 54 AIPs currently in process - Plus 32 AIPs pending Implementation updates - [AIP-106] Working on implementation of POAPs

What Is Otherside? Yuga Labs’ Metaverse

Jimmy Fallon, Paris Hilton and Justin Bieber Among Stars Facing Lawsuit for Promoting Bored Ape NFTs

NFT Trading Strategies to Avoid Getting Rugged

CoinMarketCap News, August 3: Michael Saylor — The New CEO of Bitcoin? 

Podcast: 'One of the Most Chaotic Hacks Web3 Has Ever Seen' 

##What Is ApeCoin?

ApeCoin is an ERC-20 governance and utility token used within the [APE Ecosystem](http://apecoin.com/) to empower and incentivize a decentralized community building at the forefront of web3.  
 
ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.
 
 
##Who Are the Founders of ApeCoin?

ApeCoin is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. ApeCoin was founded to be used within the burgeoning APE Ecosystem, which is supported by the APE Foundation. The ApeCoin DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.

An administrative council within the APE Foundation (the “Board”), will carry out the decisions of ApeCoin DAO members. The Board is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the Community’s ideas have the support they need to become a reality. ApeCoin DAO members vote on Board members. 


##What Makes ApeCoin Unique?

ApeCoin is the APE Ecosystem’s governance token, allowing token holders to participate in ApeCoin DAO and giving its participants a shared and open currency that can be used without centralized intermediaries. 62% of all ApeCoin was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members.
 
ApeCoin also gives access to certain parts of the Ecosystem that are otherwise unavailable, like exclusive games and services. For third-party developers, ApeCoin is a tool to participate in the ecosystem by incorporating ApeCoin into services, games, and other projects.
 
The APE Foundation was gifted a 1 of 1 NFT by Yuga Labs, the creators of Bored Ape Yacht Club. Yuga Labs has conveyed all rights and privileges to this [NFT](https://coinmarketcap.com/alexandria/article/how-to-mint-an-nft) and its underlying artwork to the APE Foundation. The ApeCoin DAO members can decide how this intellectual property is used. 
 
 
##How Many ApeCoin Are There in Circulation?

The total supply of ApeCoin is permanently fixed at 1 billion tokens, all minted at once.
 
On launch day, March 17, 2022, 30.25% will be in circulation. This percentage will continually increase following launch day at regular intervals over a 48-month period. 
 
The amount of ApeCoin in circulation is a dynamic number that will constantly change both due to the aforementioned schedule and a myriad of market factors.

 
##How Is the ApeCoin Network Secured?

ApeCoin is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token launched on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain. As a result, it is secured by Ethereum’s [proof-of-work](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) (POW) consensus mechanism.

 
##Where Can You Buy ApeCoin?

ApeCoin is available to trade on numerous exchange platforms, including decentralized exchanges like SushiSwap and top centralized exchanges.