ApeCoin DAO Establishes Uniform 1 APE Threshold for Voting Access

This development mandates that participants must possess a minimum of 1 ApeCoin to partake in voting procedures. The principal aim of this proposal is to mitigate the influence of bots and individuals seeking to manipulate the voting system for potential gains with minimal ApeCoin holdings.

ApeCoin DAO Establishes Uniform 1 APE Threshold for Voting Access

Overseeing the execution of the AIP is the Ape Foundation, vested with the authority to introduce refinements—whether subtle or substantial—in order to bolster security, user-friendliness, and the protection of APE holders.

Any significant deviations from the initially sanctioned AIP will be promptly communicated to the APE holder community.

However, ApeCoin DAO is currently grappling with challenges. Its valuation plunged to a staggering low of $1.77 on August 1, marking a stark 92% depreciation from its peak value.

The journey of ApeCoin DAO has been akin to a rollercoaster. Debuting in March 2022 at $8.54, its value skyrocketed to $26.70 the subsequent month. Significantly, the Bored Apes NFT commanded remarkable prices, reaching a staggering minimum of 152 ETH, or $429,000, in April 2022.

This surge was attributed to Yuga‘s Otherside game, which introduced NFT-based plots enabling players to personalize their virtual spaces.

APE is intrinsically linked with the prestigious Bored Ape Yacht Club’s (BAYC) non-fungible token collection. It’s important to note that, although associated with BAYC, APE is not the official cryptocurrency of the club.

Recent declines in value coincide with Yuga Labs‘ substantial NFT sale for the forthcoming metaverse game, “Otherside.”