ApeCoin (APE) is an Ethereum-based (ERC-20) token created and issued via airdrop by Yuga Labs, the company behind the Bored Ape Yacht Club and Mutant Ape Yacht Club NFT collections. Launched March 17, 2022, APE originally functioned as the governance and utility token of the independently administered ApeCoin DAO and its APE Foundation.
Bridged representations of APE also exist on Polygon, Arbitrum, BNB Smart Chain, Monad, HyperEVM, and Solana. APE additionally serves as the native gas and staking token of ApeChain, an Arbitrum-based Layer-3 network built by Yuga Labs.
APE differentiates itself through its direct tie to Yuga Labs' Bored Ape Yacht Club ecosystem, functioning as the gas and staking token of ApeChain rather than only a governance asset.
As of 2026-09-01, APE has a market capitalization of approximately $137-138 million, down 93.61% from its all-time high of $2.1673, with roughly $121,000-$124,700 in 24-hour decentralized exchange volume. On-chain DEX liquidity of about $241,600 is thin relative to market capitalization, indicating most trading occurs on centralized exchanges rather than on-chain.
ApeCoin (APE) was originally created as a governance token, with holders forming ApeCoin DAO and voting on ApeCoin Improvement Proposals (AIPs). Following the DAO's dissolution, APE's practical utility shifted toward serving as the native gas token for transactions on ApeChain, Yuga Labs' Layer-3 network, and as a staking token within that ecosystem.
APE no longer confers formal DAO voting rights, since governance authority now sits with ApeCo.
ApeCoin launched via public airdrop starting March 17, 2022, distributed to Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT holders rather than through an ICO. BAYC holders received 10.094 APE per NFT and MAYC holders received 2.042 APE per NFT; 150 million APE (15% of max supply) was claimable on day one.
No traditional VC funding round or token sale occurred. The Ethereum contract was deployed February 14, 2022, ahead of the March 17, 2022 public launch, and opening-day trading was volatile, with price falling roughly 80% within hours of its initial spike.
ApeCoin (APE) is natively an ERC-20 token on Ethereum. Bridged deployments of APE also exist on Polygon, Arbitrum, BNB Smart Chain, Monad, HyperEVM, and Solana.
APE additionally functions as the gas and staking token of ApeChain, a Yuga Labs-built Layer-3 network that runs on Arbitrum (itself settling to Ethereum), using LayerZero's OFT (Omnichain Fungible Token) standard to keep a unified token across chains.
ApeCoin was created by Yuga Labs, founded in February 2021 by four individuals: Greg Solano, Wylie Aronow, Kerem Atalay, and Zeshan Ali. The founders originally operated under pseudonyms — Solano as "Gargamel," Aronow as "Gordon Goner," Atalay as "Emperor Tomato Ketchup," and Ali as "No Sass" — before their real identities were publicly revealed.
As of 2026, Greg Solano serves as Yuga Labs CEO, having returned to the role after former CEO Daniel Alegre departed. Solano personally submitted AIP-596, the 2025 proposal to dissolve ApeCoin DAO.
ApeCoin was issued via airdrop by Yuga Labs, the company behind Bored Ape Yacht Club. Governance and treasury administration were originally delegated to the independent, member-elected ApeCoin DAO and its operational arm, the APE Foundation.
As of June 26, 2025, ApeCoin DAO was formally dissolved, with governance, treasury assets, and operational authority transferred to ApeCo, a newly created Cayman Islands entity directly administered by Yuga Labs. ApeCo now maintains and develops the ApeCoin ecosystem, including ApeChain.
ApeCoin governance shifted from decentralized to corporate control. From 2022 to June 2025, APE holders formed ApeCoin DAO, voting on ApeCoin Improvement Proposals (AIPs) administered by the APE Foundation.
On June 26, 2025, proposal AIP-596 passed with 99.66% approval, dissolving the DAO and transferring its remaining treasury — approximately 169 million APE, valued at roughly $168 million at the time — along with all governance and operational authority to ApeCo, a Yuga Labs-administered entity. As of 2026, APE holders no longer hold formal DAO voting rights.
CertiK audited the ApeCoin ERC-20 smart contract, with the most recent of two audits delivered March 23, 2022, reporting 95.48% code coverage. Of 7 findings, 6 were fully resolved and 1 major finding — centralized initial token distribution from a single controlling address — was acknowledged and mitigated by publishing the team's treasury wallet list.
As of 2026-09-01, the top 10 holders control 47.08% of supply, and on-chain DEX liquidity (~$241,600) is thin relative to market capitalization, a flagged liquidity risk.