ApeCoin DAO approves project support proposals to boost NFT and ecosystem growth | coindesk JAPAN

ApeCoin DAO has passed a community proposal to launch an accelerator to help incubate projects powered by ApeCoin (APE) to strengthen the developing ecosystem.

“AIP-209”, submitted and approved through the ApeCoin DAO idea submission system, will incubate other projects using ApeCoin, such as projects focused on increasing the value of Bored Ape Yacht Club (BAYC) NFT collections. to start up.

The “Ape Accelerator” aims to involve the ApeCoin community as initiators, voters and participants. Initiators can submit proposals for projects to incubate, and voters can vote on whether the proposed project should be launched using the APE. Participants can support approved projects by purchasing NFTs and other undefined tokens.

Projects that will eventually be launched will utilize ApeCoin, which will ultimately increase the value of the token, potentially generating revenue and returns for holders.

ApeCoin was originally issued by creator Yuga Labs as a governance token to holders of the popular BAYC NFT collection, worth $83,000 each as of May 18. It consists of 10,000 monkey illustrations.

This token is also used in other Yugalabo projects such as Otherside, Mutant Ape Yacht Club (MAYC), CryptoPunks, MeeBits and Bored Ape Kennel Club (BAKC), all of which are popular and influential NFTs. Collection.

The launchpad within the Ape Accelerator will initially operate on the Ethereum network and will feature a tiered participation structure based on users’ APE stake and NFT holdings.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Yuga Labs
｜Original: ApeCoin DAO Approves Proposal to Boost Bored Ape NFTs, APE Ecosystem Growth