• ApeCoin DAO has approved a proposal to launch an Accelerator that supports the incubation of projects using apecoin tokens (APE).
• The new AIP-209 will incubate and launch community-approved projects that focus on improving the value of the Bored Ape Yacht Club (BAYC) NFT collection.
• Participants will be able to support approved projects by purchasing NFTs and other yet-unspecified tokens.
ApeCoin DAO Approves Proposal
The ApeCoin Decentralized Autonomous Organization (DAO) has recently passed a community proposal to create an Accelerator that would help promote projects utilizing apecoin tokens (APE) in order to bolster the fledging ecosystem. This was done through submission and approval via their Idea Proposal system, also known as AIP-209.
What is the Accelerator?
The „Ape Accelerator“ aims to engage the ApeCoin community as initiators, voters, and participants. Initiators can submit proposals for projects to be incubated, while voters can use their APE tokens to vote on whether the proposed projects should be launched. Participants will be able to support approved projects by purchasing NFTs and other yet-unspecified tokens. These tokens may eventually accrue value as they generate revenue and returns for holders.
What Projects Will Be Supported?
Projects which finally launch on the Accelerator will utilize apecoin – with a focus on improving the value of the Bored Ape Yacht Club (BAYC) NFT collection, and other projects that use ApeCoin. It was initially issued as a governance token by creator Yuga Labs to holders of this popular NFT collection, composed of 10,000 unique images of cartoon apes that sell at $83,000 apiece as of Thursday. It also finds use in other Yuga Labs project such as Otherside, Mutant Ape Yacht Club (MAYC) CryptoPunks, MeeBits and Bored Ape Kennel Club (BAKC).
Technical Details
The launchpad within Ape Accelerator will initially operate on the Ethereum network and feature a tiered structure for participation based on users‘ APE stakes and qualifying NFT holdings.
Conclusion
This new proposal is an exciting development for those who hold APE tokens or are involved with any of these NFT collections – it provides them with more opportunities for growth within this innovative ecosystem!
