The DAO has approved the ApeCoin Improvement Proposal (AIP-209).
It would lead to the creation of an Accelerator program, boosting ApeCoin ecosystem growth.
This year has been a roller-coaster for the NFT-based ApeCoin because of its erratic highs and lows. Recently, the APE project’s governing DAO approved a community request. That would lead to the creation of an Accelerator program. That encourages the incubation of businesses that use ApeCoin tokens (APE) to enhance the ecosystem as a whole.
To increase the value of the Bored Ape Yacht Club (BAYC) NFT collection and other projects that use ApeCoin. The DAO has approved the ApeCoin Improvement Proposal (AIP-209) that was proposed through its Idea Proposal mechanism.
Aimed at Price Appreciation
By incubating and developing ideas that contribute to and take advantage of the growth of the ApeCoin and BAYC IP ecosystems. The Ape Accelerator (also known as the Ape Launchpad) aims to aid in the consolidation of the ApeCoin and BAYC ecosystems.
Since companies that debut via the Accelerator program will use the native APE token. Investors and faithful holders of APE are confident about a price rebound.
If the larger cryptocurrency market becomes positive, this might lead to significant price appreciation for the tokens. The original purpose of ApeCoin was to provide holders of the widely held BAYC NFT collection with a governance token.
These tokens are used in a number of other Yuga Labs products, including the massively popular and important NFT collections Otherside, Mutant Ape Yacht Club (MAYC), CryptoPunks, MeeBits, and Bored Ape Kennel Club (BAKC).
APE’s price has responded to the recent crypto news by rising to $3.51, a gain of 2.51% from the previous day and a rise of 3.87% in the last seven days.