Binance and PancakeSwap To List ApeCoin— BAYC’s Crypto With Reddit’s Alexis Ohanian as Board Member

Binance will list ApeCoin (APE), which was newly launched yesterday. It is open trading for APE/BTC, APE/BUSD and APE/USDT trading pairs from today and users can start depositing APE while withdrawals will open tomorrow, 2022-03-18 14:30 (UTC) according to an announcement. The token is also available on PancakeSwap.

ApeCoin is the native governance token behind the APE ecosystem, which includes the community of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), two of the most sought after NFT collections on the Ethereum blockchain.

The APE token was not created by Yuga Labs, the developer behind BAYC, but instead, by ApeCoin DAO as a means to show decentralization. ApeCoin’s initial use will be as an in-game currency, but it’s being propositioned as something that can be used beyond the confines of Yuga Labs’ titles. It will be supported in Benji Bananas, a game from Animoca Brands, which also owns nWay, with the view that the token could be adopted in even more titles and be used as a general-purpose digital currency.

Reactions from Twitter have been largely positive with Reddit founder, Alexis Ohanian tweeting:

I’m excited to share that ApeCoin DAO is adopting ApeCoin, and that I’m serving on the special council that will oversee the decisions of the community.

Twitter

Ohanian is on the board the ApeCoin DAO, along with FTX’s Amy Wu, Yat Siu of Animoca Brands, Maaria Bajwa of Sound Ventures, and Dean Steinbeck at Horizen Labs.

On Opensea, the average price of BAYC NFT went up from 99.917ETH since APECoin’s launch yesterday to 115.23ETH currently.

An airdrop claim consisting of 15% of the total supply of ApeCoin will be made available to @BoredApeYC NFT holders according to APE’s official Twitter announcement.