ApeCoin is a new cryptocurrency released on the Ethereum (ETH) network. ApeCoin is the native cryptocurrency for the APE ecosystem, which includes the ApeCoin DAO and all services and products utilizing APE. Yuga Labs, the creator of the famous Bored Ape Yacht Club (BAYC) NFT collections, has adopted APE as the primary token for all new products and services. The Bored Ape Yacht Club started in April 2021 and is comprised of thousands of individual ape NFTs. Each has its distinct facial expressions and clothing. The concept gained popularity as celebrities such as Jimmy Fallon, Justin Bieber, and Paris Hilton invested enormous money in the Bored Ape NFTs. ApeCoin is intended to serve as the decentralized protocol layer for various community-led initiatives. The token is managed by the APE Foundation, which administers the decisions of the ApeCoin DAO (decentralized autonomous organization). The holders of ApeCoin are the only voters in the DAO, which the Foundation facilitates.