The Ultimate Due Diligence Report on APE Token  

1. Executive Summary

‍

Overview of the APE token and its unique value proposition.

ApeCoin (APE) is an ERC-20 utility and governance token that powers the APE ecosystem, governed by the ApeCoin DAO and supported by the APE Foundation. It is designed to be the beating heart of the Yuga Labs ecosystem, which includes the Bored Ape Yacht Club (BAYC) and other popular NFT projects. The token is used for governance, accessing exclusive features of the APE ecosystem, and participating in third-party services, games, and projects. APE has a fixed max supply of one billion tokens, with allocations for the ecosystem fund, Yuga Labs and charity, launch contributors, and BAYC founders. The ApeCoin DAO is responsible for the token's governance, with its own treasury and ecosystem fund to support developers building products and services that benefit Apecoin. The Ape Foundation oversees and executes decisions made by the DAO. 

ApeCoin's value is tied to the Yuga Labs ecosystem, making it a metaverse cryptocurrency. Its unique value proposition includes its use as a governance token, access to exclusive features, and participation in third-party services, games, and projects, with a governance structure that allows token holders to vote on pivotal decisions that shape the future of APE.

‍

Brief summary of the investment opportunity

Investment opportunities in APE include buying through exchanges, purchasing fractions of the token, trading through brokers, or investing in ETFs that track APE or a basket of coins. The token has shown potential for growth, with price predictions ranging from $10.02 this year to $50.18 by 2030. However, the cryptocurrency market is highly volatile, and investors should be prepared to make losses and never purchase more than they can afford to lose. The ApeCoin DAO's governance structure allows token holders to vote on pivotal decisions that shape the future of APE, ensuring community involvement in the project's development.

‍

2. APE  Overview

Mission and Vision: APE long-term objectives.

The ApeCoin DAO is currently engaged in a voting process to determine its future direction by selecting a mission statement that will shape its evolution. Participants have access to eight distinct mission statements, each offering a unique perspective on the DAO's future, ranging from transforming the digital landscape to empowering the community. These mission statements aim to enhance governance efficiency, attract innovators, and align with the founder's vision of ApeCoin as a decentralized protocol layer supporting community-driven initiatives in the metaverse. At present, mission 2, which focuses on establishing ApeCoin as a prominent player in metaverse culture and blockchain gaming, holds the lead with 42.31% of the vote. This voting procedure plays a pivotal role in defining ApeCoin's future trajectory and determining its role in the metaverse and gaming sectors.

‍

Problem Statement: Challenges or gaps APE aims to address.

Apecoin's ecosystem comprises the Apecoin DAO, Ape Foundation, and various token allocations. Although it experienced rapid growth initially, Apecoin's value has since declined, sparking concerns about its long-term viability and purpose. Opinions among experts are divided regarding its recovery potential, with some citing fundamental issues like a lack of direction, utility, and governance problems within the DAO. To address these challenges, the ApeCoin DAO is currently holding a vote on its future direction through mission statements, aiming to revitalize its vision and governance structure. The project's success depends on resolving internal conflicts, establishing clear goals, and rebuilding community trust to overcome its crisis and fulfill its promises.

‍

Solution: How the APE TOKEN proposes to solve these problems.

ApeCoin, functioning as a decentralized autonomous organization (DAO), endeavors to tackle obstacles within the NFT and metaverse sectors by establishing a decentralized governance framework and a utility token for the Bored Ape Yacht Club (BAYC) ecosystem. This ecosystem encompasses the BAYC, Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC) NFT collections, and the Otherside metaverse project. APE holders possess the authority to vote on proposals shaping the future of the ApeCoin ecosystem, influencing decisions regarding the utilization of the ApeCoin DAO treasury and the development of new products and services. Additionally, APE facilitates access to exclusive features and experiences within the ApeCoin ecosystem, including early access to new NFT releases and exclusive merchandise.

‍

ApeCoin's strategy for addressing challenges in the NFT and metaverse realms revolves around establishing a decentralized governance structure that empowers the community to contribute to the ecosystem's evolution. This is facilitated through the ApeCoin DAO, enabling APE holders to participate in decision-making processes that steer the ecosystem's trajectory. The ApeCoin ecosystem encompasses diverse NFT collections and the Otherside metaverse project, offering utility and exclusive features for APE holders.

In essence, ApeCoin's resolution to the hurdles in the NFT and metaverse domains lies in fostering a decentralized governance framework that grants the community a voice in shaping the ecosystem's future. Through the ApeCoin DAO, APE holders can engage in decision-making processes that influence the ecosystem's development. The ApeCoin ecosystem integrates various NFT collections and the Otherside metaverse project, providing utility and exclusive features for APE holders.

‍

3. Technology and Product

Technical Architecture: Overview of the blockchain and other technologies used.

In summary, ApeCoin's technical architecture leverages the Ethereum blockchain, ERC-20 token standards, and the ApeCoin DAO to enable community-driven governance and decision-making within its ecosystem, fostering transparency, innovation, and collective responsibility among APE token holders.

Product Offering: Description of the product or service, including its development stage.

ApeCoin has a total supply of 1 billion tokens, enabling token holders to participate in decision-making through the ApeCoin DAO, with voting power based on token ownership. The token can be obtained on cryptocurrency exchanges and provides access to exclusive features, NFT rewards, and payment options within the APE ecosystem. ApeCoin offers growth potential and utility but is subject to market volatility and regulatory uncertainties, necessitating investor awareness. The token allocation includes distributions to various stakeholders, such as the community, NFT holders, Yuga Labs, charity foundations, project contributors, and founders, with some tokens locked to prevent immediate selling. ApeCoin's ecosystem extends beyond Yuga Labs, enabling its use in various platforms and even as a payment method in selected luxury boutiques, demonstrating its versatility and potential for broader adoption.

‍

Innovation: How APE innovates or improves upon existing solutions.

ApeCoin (APE) brings innovation to the cryptocurrency space by addressing unresolved issues and offering enhanced features compared to existing digital currencies. It emphasizes decentralization, security, and adaptability to cater to evolving user and investor requirements. ApeCoin's applications include governance through the DAO and exclusive access to the Bored Ape ecosystem's offerings, providing utility and value to token holders.

‍

ApeCoin's interoperability enables it to function across various platforms and facilitate transactions between different cryptocurrencies, making it a versatile option in the rapidly changing crypto market. The token's distinctive features and historical growth suggest promising growth prospects for investors, despite the volatility and fierce competition inherent to the cryptocurrency landscape.

The commitment of the development team to creating a future-proof digital currency is evident in ApeCoin's evolution, and strategic collaborations and integrations bolster its credibility in the market. However, ApeCoin must differentiate itself to capture the interest of investors and users in a crowded market, and investors should remain vigilant and keep a close eye on the project's progress due to the inherent volatility of the cryptocurrency market.

‍

Roadmap: Development milestones, past achievements, and future goals.

ApeCoin (APE) is a cryptocurrency designed to address issues in existing cryptocurrencies, focusing on decentralization, security, and flexibility for users and investors. Launched in 2022, it offers governance through the DAO and exclusive access to the Bored Ape ecosystem's products and benefits. It reached a capitalization of 1.9 billion euros by the end of July 2022, ranking it in the top 40 worldwide. The ApeCoin ecosystem includes art, games, and entertainment options, governed by the ApeCoin DAO. ApeCoin's growth potential, unique characteristics, and past growth make it an attractive investment, but like all cryptocurrencies, it is subject to market volatility. While there is no official published roadmap, future plans include annual voting for Board members by DAO members and opportunities for charitable donations. ApeCoin has existing plans for cooperation with Yuga Labs.

‍

4. Market Analysis of APE 

Target Market: Size, demographics, and behavior of the potential market.

The target market for ApeCoin (APE) is a diverse and engaged community interested in art, gaming, entertainment, and digital events. ApeCoin's potential market size is significant, with a growing interest in blockchain technology, Web3, and decentralized platforms. The demographics of ApeCoin's target market are not explicitly stated, but they likely include tech-savvy individuals, gamers, artists, and those interested in the broader crypto and NFT space. Behaviorally, ApeCoin's target market is engaged, active, and interested in the potential of blockchain and Web3 technologies. They are likely to be early adopters, open to new experiences, and interested in the potential of decentralized platforms to transform various industries. ApeCoin's target market is also interested in the potential of blockchain technology to support the evolution of art, gaming, entertainment, and digital events. ApeCoin's growth potential is significant, with a strong community and a clear focus on supporting the evolution of various industries. However, like all cryptocurrencies, ApeCoin is subject to market volatility, with significant fluctuations in the APE price. Investors should stay informed and closely monitor the project's progress due to the inherent volatility of the cryptocurrency market.

‍

Competitive Landscape: Analysis of competitors and APE position in the market.

ApeCoin operates in a competitive landscape, with a unique value proposition focusing on art, gaming, entertainment, and digital events. The project has a strong community and aims to support the evolution of various industries. However, ApeCoin is subject to market volatility, with significant fluctuations in the APE price. Investors should stay informed and closely monitor the project's progress due to the inherent volatility of the cryptocurrency market.

In terms of market potential, ApeCoin has shown a strong upgoing trend with no signs of changing. The token has shown very good increases within 24 hours by 10% - 16%. Some crypto enthusiasts believe that the ApeCoin ecosystem seems to be a very promising project with great potential, including the most popular things in today’s crypto reality, such as NFT and all types of digital art. Creators may consider this project for their future development.

‍

Market Trends: Current and anticipated trends that could affect APE

ApeCoin's price prediction for May 3, 2024, is $5.62, indicating a potential increase of 226.47% from its current price. This forecast is based on technical analysis and the token's potential as a decentralized payment method, which has limitless possibilities. ApeCoin has displayed a robust upward trend, with no signs of reversal, and has demonstrated substantial growth within a 24-hour period, ranging between 10% and 16%.

The ApeCoin community on Twitter is active and engaged, with users regularly sharing their experiences and seeking assistance when required. However, investors should be aware that ApeCoin's price is subject to market volatility, which can result in significant fluctuations. Therefore, it is essential for investors to remain informed and closely monitor the project's progress due to the inherent volatility of the cryptocurrency market.

Although the project does not have an official published roadmap, it has announced future plans, including annual voting for Board members by DAO members and opportunities for charitable donations. Additionally, ApeCoin has established partnerships with Yuga Labs, demonstrating a commitment to building a strong and engaged community.

‍

5. Team and Advisors

Backgrounds: Experience and expertise of APE founding team and key members.

ApeCoin's background includes an experienced and high-profile founding team, with a strong focus on decentralized governance and utility within the NFT and metaverse spaces. The token's potential and use cases across various ecosystems make it an attractive investment for those interested in the intersection of NFTs, gaming, and decentralized finance.

‍

APE Advisory Board: Influence and contribution of the advisors.

The ApeCoin DAO board comprises esteemed and early members of the ApeCoin community. They collaborate closely with the ThriveCoin team to generate substantial value for ApeCoin. The Thank APE board's main duties involve collecting feedback and data from the community, making decisions on rules, contribution paths, contribution types, reward amounts, and validations at the board level. The board holds regular meetings twice a week, dedicating a few hours to discussions, and engages in Thank APE-related projects throughout the week.

‍

Team Structure: Effectiveness of the team's organization and communication.

ApeCoin's team structure emphasizes community-led governance, comprising three primary entities: the ApeCoin DAO, ApeCoin Foundation, and the Special Council. The ApeCoin DAO enables token holders to propose and vote on ecosystem-impacting initiatives. The ApeCoin Foundation supports the DAO's activities and manages funds, while the Special Council oversees and provides stewardship.

The team's communication and organization are streamlined through a formal bidding process, such as the role of WebSlinger, the current DAO Administrator, overseeing tasks like vendor contracts, grant due diligence, financial reporting, social media management, and treasury administration.

ApeCoin's innovative governance approach prioritizes decentralization and community involvement. The team's dedication to original, non-replicative activities and the creation of an NFT trading marketplace further highlight this commitment.

The team's effectiveness is evident in community-driven initiatives like the Working Group structure, which discourages single points of failure and promotes DAO decentralization. This approach cultivates a sense of ownership and engagement among members, ultimately benefiting the ApeCoin ecosystem's growth and well-being.

‍

6. APE Tokenomics and Financials

APE Utility: The purpose and use cases for APE token.

ApeCoin serves as the governance and utility token within the APE ecosystem, enabling token holders to engage in DAO governance decisions and unlock exclusive content like games, merchandise, events, and services. Its utility extends beyond Yuga Labs' projects, encompassing various web3 and metaverse initiatives. ApeCoin, an ERC-20 token on the Ethereum blockchain with a fixed supply of 1 billion tokens, was initially distributed through airdrops to NFT holders in the Bored Ape Yacht Club (BAYC) community or directly to Ethereum wallets.

‍

APE Distribution: Allocation of tokens (e.g., team, advisors, public sale).

The token distribution is as follows:

1. Ecosystem Fund: 62%

2. Yuga Labs and Charity: 16%

3. Launch Contributors: 14%

4. BAYC Founders: 8%

‍

The Ecosystem Fund includes 150 million tokens airdropped to NFT holders, with allocations for Bored Ape only, Mutant Ape only, Bored Ape + Kennel Club, and Mutant Ape + Kennel Club. Yuga Labs, the creators of BAYC, have turned BAKC NFTs into 'Companion NFTs', stating that they don't have utility on their own but only when paired with a BAYC or MAYC.

APE holders manage the ApeCoin DAO, which allows them to vote on proposals or craft and introduce proposals to take actions that include allocating community treasury funds, making license exemptions, and promoting protocol development and adoption. The APE Foundation is the steward of ApeCoin and facilitates decentralized and community-led governance.

A significant aspect of the token distribution is the longer vesting period, which incentivizes the team to deliver the project. The use of funds is primarily focused on product development (94.80%). The expected initial circulating supply at the Token Generation Event (TGE) is 14,640,854.00 APE, representing 0.0014640854% of the total supply. This supply will gradually increase based on the distribution plan schedule as described in the APECOIN Token Distribution table.

‍

Financial Model: Revenue streams, cost structure, and profitability projections.

Apecoin (APE) is an ERC-20 token central to the APE Ecosystem, striving to democratize Web3 by utilizing blockchain technology for a fairer digital economy. APE holders participate in ecosystem governance through the ApeCoin DAO, gaining access to events, games, and services while using APE as a medium of exchange. Apecoin's value is influenced by market sentiment, trading volume, and ecosystem advancements. Investors should weigh Apecoin's community focus, NFT marketplace, and collaborations, considering both potential risks and growth prospects before investing. Market analysis suggests that Apecoin carries a degree of risk alongside its growth potential, with a current price of €1.49 per APE. Price predictions indicate a gradual increase, reaching $2.413684 by 2030. Apecoin's protocol emphasizes decentralized community building, encompassing governance, unified spending, and access to ecosystem features.

‍

Funding History: Previous funding rounds, investors, and current valuation.

Yuga Labs raised $450 million in a funding round led by venture capital firm Andreessen Horowitz, valuing the company at $4 billion. The funds will be used to expand the development team, oversee joint ventures, and make Bored and Mutant Apes into bigger brands with some of them debuting on luxury goods and a play-to-earn game that may involve APE tokens.

ApeCoin is currently ranked 37th in cryptocurrencies by market capitalization and reached an all-time high of $39.40 in early 2022. The token can be bought on several major exchanges, including Coinbase Global Inc. (NASDAQ: COIN), Gemini, Crypto.com, and Webull.

‍

7. APE Community and Ecosystem

Community Engagement: Size, growth, and engagement levels of the community.

Partnerships: Strategic alliances and partnerships.

The ApeCoin community actively participates in the governance and evolution of the ApeCoin ecosystem via the ApeCoin DAO, where token holders can contribute to decision-making and influence the project's future. This involvement is facilitated by the DAO's proposal process, which allows community members to vote on various initiatives, collaborations, and ecosystem advancements.

‍

Community Engagement:

Size: ApeCoin's community is substantial and active, with token holders actively participating in governance and discussions.

Growth: The community is expanding, as new members join to support the ecosystem's growth and development.

Engagement Levels: ApeCoin holders are highly engaged, expressing their views, casting votes, and actively guiding the project's direction.

‍

Partnerships:

Strategic Alliances: ApeCoin has established strategic partnerships with significant players in the blockchain and NFT sectors, such as Horizen Labs, Magic Eden, and Darewise Entertainment.

Partnership Benefits: These collaborations broaden the ApeCoin ecosystem, enhance utility, and promote adoption through joint projects and initiatives.

Supportive Ecosystem: Partners like Horizen Labs have committed support without seeking compensation, reflecting a dedication to ApeCoin's success and growth.

The ApeCoin community's significant size, growth, and active engagement, combined with strategic partnerships, significantly contribute to the project's success and the creation of a thriving, dynamic ecosystem.

‍

Network Effects: The project's strategy for achieving and benefiting from network effects.

ApeCoin's approach to harnessing and capitalizing on network effects involves the creation of the ApeChain network on Arbitrum, supported by collaborations with prominent entities in the blockchain and NFT industries. The ApeCoin community elected to employ Arbitrum technology, with APE tokens functioning as gas and governance tokens on the new network, aiming to improve operational efficiency and community governance. This choice highlights the community's preference for Arbitrum's technological infrastructure, which offers reduced transaction fees, increased scalability, and resistance to censorship, all of which are essential for supporting a wide range of applications such as NFTs, gaming, and DeFi within the Ape ecosystem.

‍

8. Risks and Challenges

Market Risks: Exposure to market volatility and competitive threats.

ApeCoin faces exposure to market volatility and competitive threats. With a current Expected Shortfall of (4.20), this metric assesses the market risk associated with an equity instrument. Market volatility poses a significant risk to ApeCoin, similar to other cryptocurrencies, as its value is susceptible to fluctuations driven by market demand and supply dynamics, leading to high unpredictability.

Furthermore, the cryptocurrency market's lack of regulation increases the risk of fraudulent activities, necessitating investor vigilance in selecting investment opportunities. Additionally, the potential for technological failures poses a risk to digital platforms like ApeCoin, potentially resulting in the loss of invested funds.

In terms of competition, ApeCoin competes with established cryptocurrencies like Axie Infinity, Decentraland, and The Sandbox, which enjoy a substantial first-mover advantage. To secure market share and compete effectively, ApeCoin must strive to match the scale and features of its established competitors.

SOURCES:

https://www.macroaxis.com/invest/technicalIndicator/APE.CC--Expected-Short-fall--Market-Risk-Adjusted-Performance 

https://www.benzinga.com/money/is-apecoin-a-good-investment 

https://www.theceo.in/finance/the-potential-risks-and-rewards-of-apecoin-is-it-worth-the-investment 

‍

Technical Risks: Potential technical hurdles in development or deployment.

ApeCoin faces potential technical risks in its development or deployment, which could pose challenges to the project's progress. These risks may include issues related to smart contract deployment, blockchain integration, network security vulnerabilities, scalability limitations, and interoperability with other platforms. Ensuring the robustness and reliability of the technical infrastructure, addressing any bugs or vulnerabilities promptly, and maintaining compatibility with evolving technologies are crucial to mitigating these risks. Additionally, the complexity of implementing new features, upgrading the network, and ensuring seamless functionality across different components of the ecosystem could present technical hurdles that require careful planning and execution to overcome. Vigilance in monitoring and addressing technical risks is essential to safeguarding the integrity and performance of ApeCoin's ecosystem amidst the dynamic and rapidly evolving cryptocurrency landscape.

SOURCES:

https://www.coinex.com/en/blog/3120-what-is-apecoin-ape 

https://uk.investing.com/crypto/apecoin-ape/technical 

https://www.crypto-news-flash.com/apecoin-dao-leverages-arbitrum-tech-unveils-apechain-development/ 

‍

Regulatory Risks: Legal challenges that could impact the project's viability.

ApeCoin's regulatory risks include increasing regulatory scrutiny, the need for regulatory compliance, and the potential for legal challenges that could impact its viability. While regulators aim to protect investors and prevent malfeasance, the effectiveness of these regulations remains questionable, and it could help stabilize and legalize the trade of cryptocurrencies in the UK. However, it could also be difficult to prevent money laundering on non-UK-based cryptocurrency firms, and the specific characteristics of these tokens that cause them to be deemed securities remain unclear.

‍

Other Risks: Any other potential risks not covered above.

ApeCoin faces various potential risks beyond market, technical, and regulatory challenges. These additional risks could include security vulnerabilities leading to hacks or breaches, smart contract bugs impacting user funds, lack of adoption or interest from the target audience, competition from emerging projects with innovative features, and potential governance disputes within the ApeCoin community. Moreover, external factors such as macroeconomic conditions, changes in regulatory landscapes globally, and unexpected technological advancements could also pose risks to ApeCoin's viability and growth. It is essential for investors and stakeholders to consider these diverse risks comprehensively when evaluating the long-term prospects and sustainability of ApeCoin as an investment or project within the cryptocurrency ecosystem.

‍

9. APE SWOT Analysis

Strengths: Internal factors that give the project an advantage.

ApeCoin demonstrates its strengths through its substantial market capitalization, estimated at approximately $2 billion, and its prominence in the cryptocurrency sector for hosting events and advancing metaverse projects. Serving as the native digital currency within the Bored Ape Yacht Club (BAYC) ecosystem, ApeCoin functions as both a utility and governance token, enabling users to procure goods and services, access exclusive content like games, events, and merchandise, and engage in decision-making processes through the ApeCoin DAO. The decentralized governance model of ApeCoin empowers its dedicated community of investors to influence the project's growth trajectory, while its versatile utility within the Ape Ecosystem and metaverse positions it as a valuable asset in the realms of NFTs and cryptocurrencies. Furthermore, ApeCoin benefits from robust support from Yuga Labs, which garnered a valuation of $4 billion following substantial investments from leading entities, equipping ApeCoin with the necessary resources to realize its ambitious objectives.

SOURCES:

https://101blockchains.com/apecoin-ape/ 

https://dgen.network/apecoin-risk-vs-reward-is-it-worth-investing/ 

https://www.ccn.com/analysis/apecoin-ape-price-prediction/ 

‍

Weaknesses: Internal limitations or areas for improvement.

ApeCoin's weaknesses encompass internal limitations and areas for improvement within the project. These include a locked supply of APE tokens, with less than 40% currently in circulation, potentially leading to prolonged token unlocks in the future. Moreover, ApeCoin's dependency on the Yuga Labs ecosystem for its value poses a risk, as any challenges faced by Yuga Labs could significantly impact ApeCoin. Additionally, there is ongoing scrutiny from the US Securities and Exchange Commission (SEC) to determine if ApeCoin could be classified as an unregistered security, although no definitive outcomes have emerged yet. Despite being the currency of exchange within the Yuga Labs metaverse, ApeCoin faces the challenge that Yuga Labs NFTs are predominantly traded and denominated in ETH, potentially limiting ApeCoin's standalone transactional volume. Addressing these weaknesses by enhancing token circulation, diversifying value sources beyond the Yuga Labs ecosystem, and clarifying regulatory compliance could strengthen ApeCoin's position in the cryptocurrency market.

‍

Opportunities: External factors that the project could exploit to its advantage.

‍

ApeCoin can capitalize on various external opportunities:

Whale Activity: Notable whale transactions, such as Machi Big Brother's withdrawal of 1.14 million APE tokens (worth $2.32 million) within three hours, suggest positive market sentiment and potential shifts.

NFT Success: The popularity of Yuga Labs' NFTs, including Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC), could attract attention and interest towards APE. BAYC's average price increased by 2.45% over a week, while MAYC's sales rose by 2.04% during the same period.

Metaverse Integration: ApeCoin will be integrated into the metaverse Otherside, potentially becoming a popular metaverse currency this year. This integration will enable ApeCoin to function as a transaction token on metaverse marketplaces.

Play-to-Earn Games: External developers incorporate ApeCoin into their projects, services, and games, such as Animoca Brands' Benji Bananas, a play-to-earn mobile game that uses the coin as an incentive for players.

Utility and Governance Token: ApeCoin serves as both a utility and governance token within the Yuga Labs ecosystem, highlighting its potential. However, caution is advised due to the volatile nature of cryptocurrencies, regulatory uncertainties, and market speculation.

‍

Threats: External challenges that could pose risks to the project.

ApeCoin confronts various external challenges that could negatively impact the project. These risks encompass market volatility, regulatory shifts, and vulnerabilities inherent in the cryptocurrency domain. Furthermore, investors in ApeCoin may grapple with concerns related to liquidity challenges, regulatory voids, and the potential for scams or fraudulent activities. The absence of safeguards against hacking and fraud in the cryptocurrency market, combined with the extreme fluctuations in coin values, exposes investors to significant risks. To mitigate these risks, investors should exercise caution, conduct thorough research, diversify their portfolios, and engage with reputable exchanges or financial advisors. Additionally, ApeCoin's growth and stability could be jeopardized by its dependence on broader cryptocurrency market dynamics, ecosystem ties, and potential market manipulation.

SOURCES:

https://www.bydfi.com/en/questions/what-are-the-potential-risks-and-challenges-of-investing-in-benji-bananas-and-apecoin 

https://news.ycombinator.com/item?id=31868872 

https://ambcrypto.com/apecoin-a-rising-whale-interest-and-nft-growth-could-push-ape-toward/ 

‍

10. How APE works with TheStandard.io 

Possible collateral type: ApeCoin serves as collateral within TheStandard.io protocol, allowing users to secure loans in EUROs and, in the near future, USDs, without any interest. Additionally, the process is entirely non-custodial.

‍

11. Conclusion and viability score

Final assessment and Score:

The conclusion drawn from the sources indicates that ApeCoin (APE) is positioned as a decentralized project with a bullish price prediction for 2024, driven by its utility within the Ape ecosystem, particularly in NFT-related activities. The token has shown resilience and potential for growth, with price surges and positive market sentiment. However, investors should be cautious of the risks associated with market volatility, regulatory changes, and security vulnerabilities in the cryptocurrency space. The viability score for ApeCoin appears positive, considering its use cases, community engagement, and the potential for further integration into the metaverse. Despite challenges, ApeCoin's long-term prospects seem promising, especially with its association with the Bored Ape Yacht Club and Mutant Ape Yacht Club NFT collections, which contribute to its visibility and investment appeal.

‍