ApeCoin is a project based on  the "Bored Ape Yacht Club" NFTs copyrighted by Yuga Labs aimed at supporting “the decentralized communities pivotal to web3”. The crypto asset APE will be utilized for settlement within the ecosystem, games, events and commercial transactions.

Moreover, ApeCoin is managed by a community named ApeCoin DAO, where the token functions as a governance token to vote on the decision making.

Notes on the Yuga Labs Class Action Lawsuit

Yuga Labs is currently involved in a class action lawsuit over NFTs related to the Bored Ape Yacht Club (BAYC). Please be aware of the potential impact of the ruling in this lawsuit on the ApeCoin project. 

In the event that we deem it difficult to provide the service in terms of user asset protection due to changes in social conditions and usage conditions, we may consider and implement a temporary suspension or discontinuation of the service.

*February 6th, 2024