ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem, launched in the first quarter of 2022 by the Bored Ape Yacht Club team. It is designed to authorize and incentivize decentralized community building at the forefront of Web3.
What makes ApeCoin unique is that holders of ApeCoin manage it through the decentralized governance framework of the ApeCoin DAO, voting on how to allocate the ApeCoin DAO ecosystem fund. The APE Foundation is responsible for managing proposals approved by ApeCoin holders.
Source: CoinMarketCap