Key Takeaways
ApeCoin (APE) is an ERC-20 governance and utility token that powers the APE ecosystem, including the Bored Ape Yacht Club (BAYC) community, the ApeCoin DAO, and ApeChain.
APE token holders can vote on ApeCoin DAO governance proposals, which determine how the ecosystem fund is allocated and which projects and partnerships the APE Foundation supports.
ApeChain is a Layer 3 blockchain launched in October 2024 that uses APE as its native gas token, enabling faster transactions, lower fees, and native yield staking within the APE ecosystem.
Yuga Labs, creator of BAYC, CryptoPunks, and Mutant Ape Yacht Club (MAYC), adopted APE as its primary token and is a community member of the ApeCoin DAO.
Introduction
Since its launch in April 2021, Bored Ape Yacht Club (BAYC) has grown into one of the most widely known NFT collections in Web3, recognized for its active community and the broader APE ecosystem it helped establish. ApeCoin (APE) is the token at the center of that ecosystem.
What Is ApeCoin (APE)?
ApeCoin (APE) is the governance and utility token of the APE ecosystem. It is an ERC-20 token with a total fixed supply of 1 billion tokens. It serves as a decentralized protocol layer supporting the APE community building at the forefront of Web3.
APE is governed by the ApeCoin DAO, a decentralized autonomous organization (DAO) that allows all APE holders to vote on governance decisions. Yuga Labs, the creator of the Bored Ape Yacht Club NFT collections, has adopted APE as the primary token across new products and services, and is a community participant in the ApeCoin DAO.
How Does APE Work?
APE operates through two complementary bodies: the ApeCoin DAO and the APE Foundation.
The ApeCoin DAO allows all APE token holders to participate in governance. Holders can vote on proposals covering how to allocate the Ecosystem Fund, set governance rules, select projects and partnerships, and other community decisions. Once the DAO votes on a proposal, the APE Foundation carries out the community-led decision.
The APE Foundation is the legal steward of the DAO. It facilitates the growth and development of the APE ecosystem in a fair and inclusive way. Within the Foundation, a special council called the Board is responsible for ensuring the community's vision is implemented. The original Board consisted of five members from the technology and crypto space; board terms rotate on an annual basis following community elections by APE token holders.
The APE Ecosystem
The APE ecosystem includes the community of APE holders, the NFT collections related to BAYC, and all products and services that use APE. Three NFT collections form the core of the ecosystem:
Bored Ape Yacht Club (BAYC)
Launched in April 2021, BAYC is the original NFT collection of the APE ecosystem. It features 10,000 unique apes on the Ethereum blockchain, each with a distinct look, style, and rarity. Holders of BAYC NFTs received an early allocation of APE tokens upon the token's launch in March 2022.
Mutant Ape Yacht Club (MAYC)
MAYC consists of up to 20,000 mutated versions of the original Bored Apes. BAYC holders received mutant serums via airdrop to create their own mutant apes, while an additional 10,000 were made available in a public sale in August 2021. Each BAYC NFT could generate one mutant using one serum, and the serum is consumed upon use.
Bored Ape Kennel Club (BAKC)
BAKC is a collection of 10,000 dog NFTs that were made available to BAYC holders, with each holder able to claim one dog NFT for free (paying only a gas fee). Like the apes, BAKC NFTs feature varying attributes and rarities.
What Can APE Tokens Do?
APE functions as a governance token and a utility token within the APE ecosystem. Its main uses include:
Governance: APE holders vote on ApeCoin DAO proposals, directly shaping the direction of the ecosystem.
Ecosystem access: APE can be used to access exclusive features including games, merchandise, events, and services within the APE ecosystem.
Third-party integrations: Developers can incorporate APE into their own games, services, and projects. For example, Benji Bananas, a mobile game developed by Animoca Brands, integrated APE as a reward mechanism through its Benji Pass NFT system.
Gas on ApeChain: APE is the native gas token on ApeChain, meaning it is used to pay for transactions on the network.
Native yield staking: ApeChain supports staking of APE, ETH, and stablecoins, where participants can potentially earn yield. Instant withdrawals are available on yield-bearing assets via the Ape Portal bridge.
ApeChain
ApeChain is a Layer 3 blockchain built on Arbitrum Orbit technology, which launched on mainnet on October 20, 2024, at ApeFest in Hong Kong. It is designed to serve as the on-chain home of the APE ecosystem, optimized for NFT trading, gaming, and DeFi applications.
Key features of ApeChain include:
APE as gas: All transactions on ApeChain are paid for using APE, giving the token direct utility at the infrastructure level.
Cross-chain interoperability: ApeChain uses LayerZero for cross-chain data and asset movement. The Ape Portal enables bridging of ETH, stablecoins, and APE from Ethereum.
Onboarding tools: Account abstraction, a Yuga ID system, and fiat onramps via partners make the chain accessible to both crypto-native and mainstream users.
NFT and gaming optimization: Tools like Mintpad allow NFT creators to mint at low cost. The ecosystem website lists a growing number of dApps built on ApeChain.
Yuga Labs and the APE Ecosystem
Yuga Labs is the Web3 company behind BAYC and several related projects. In addition to the BAYC collections, Yuga also owns the intellectual property rights to CryptoPunks and Meebits, two earlier and widely referenced NFT collections. Yuga adopted APE as the primary token for its products and participates in the ApeCoin DAO as a community member rather than as its controller.
In early 2024, Yuga Labs underwent restructuring: co-founder Greg Solano returned as CEO, and the company refocused on its core crypto-native projects. Non-core gaming IPs were divested, and the team was streamlined. ApeChain, which launched later in October 2024, reflects this refocus on building ecosystem infrastructure around APE and BAYC.
APE Token Data
APE has a fixed total supply of 1 billion tokens. As of May 2026, approximately 800 million APE (80% of total supply) are in circulation, with remaining tokens subject to ongoing vesting schedules. The token reached an all-time high of $26.70 in April 2022 and an all-time low of $0.355 in April 2025. As of May 2026, APE trades at approximately $0.656, with a market capitalization of approximately $524 million.
FAQ
What is ApeCoin (APE)?
ApeCoin (APE) is an ERC-20 governance and utility token with a total supply of 1 billion tokens. It powers the APE ecosystem, including the ApeCoin DAO, ApeChain, and Yuga Labs' NFT collections.
What is ApeChain?
ApeChain is a Layer 3 blockchain built on Arbitrum Orbit that launched in October 2024. It uses APE as its native gas token and is optimized for the BAYC ecosystem's NFT trading, gaming, and DeFi applications. It includes cross-chain bridging via LayerZero and supports native yield staking.
What is the ApeCoin DAO?
The ApeCoin DAO is a decentralized autonomous organization that allows all APE token holders to vote on governance proposals. These proposals can cover ecosystem fund allocation, new partnerships, project selection, and governance rules. The APE Foundation carries out the decisions approved by DAO voters.
How is APE related to Bored Ape Yacht Club?
BAYC is an NFT collection created by Yuga Labs, which adopted APE as the primary token for its new products and services. BAYC and MAYC holders received a combined 15% of the total APE supply (150 million tokens) as a claim at the token's March 2022 launch. Yuga Labs participates in the ApeCoin DAO as a community member.
Can APE be staked?
APE can potentially be staked natively on ApeChain, where participants may earn yield on APE, ETH, and stablecoins. Instant withdrawals are available on yield-bearing assets via the Ape Portal bridge. Third-party platforms also offer staking and liquidity options, though terms and availability vary. Always research the specific platform and associated risks before participating.
Closing Thoughts
ApeCoin sits at the intersection of NFT culture, DAO governance, and blockchain infrastructure. Since the token's launch in March 2022, its ecosystem has expanded considerably: the ApeCoin DAO has governed hundreds of funding proposals, ApeChain launched as a dedicated Layer 3 network in October 2024, and Yuga Labs has continued developing APE-native products. The token's long-term utility depends on the adoption of ApeChain, the activity of the ApeCoin DAO community, and the broader health of the NFT and Web3 market.
Further Reading
Disclaimer: This content is presented to you on an "as is" basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the content is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. For more information, see our Terms of Use, Risk Warning and Binance Academy Terms.