Research Summary
The report is a Q2 2023 report on ApeCoin (APE), an ERC-20 token used for governance of the ApeCoin DAO. The report provides a detailed analysis of the ApeCoin ecosystem, including key metrics, performance analysis, and qualitative analysis. It highlights that all key metrics of ApeCoin fell in Q2 2023, with the average APE price dropping by 32%. This was potentially due to the sell pressure from over 50 million APE unlocked to non-DAO entities and claimed by users. The report also notes that two new Special Council members were elected in Q2 2023, transitioning the power of special roles within the ApeCoin DAO.
Actionable Insights
- Monitor APE Trade Volume: The APE trade volume was dominated by sharks ($1 million – $10 million in daily trading), which flipped whales (over $10 million in daily trading) for the first time since APE launched.
- Track APE Price: The average APE price dropped by 32%, potentially due to the sell pressure from over 50 million APE unlocked to non-DAO entities and claimed by users in Q2 2023.
- Observe DAO Governance: Two new Special Council members were elected in Q2 2023, transitioning the power of special roles within the ApeCoin DAO.
- Assess APE Foundation’s Role: WebSlinger experienced its first full quarter as the administrator of the APE Foundation after beginning its term in March 2023.
- Examine APE Metrics: All of ApeCoin’s key metrics fell QoQ, though daily token transfers, votes per governance proposal, and transfer volume remained higher than in certain previous quarters.
