Author: Biteye core contributor Viee
Editor: Biteye core contributor Crush
If you've heard of the long-term top-ranked NFT "Bored Ape" (BAYC) in the last bull market, you must be curious about ApeChain.
Last Sunday, the Bored Ape Yacht Club (BAYC) officially announced the launch of the ApeChain mainnet, and the market responded positively, with the $APE price surging by more than 120% within 24 hours.
Bored Ape Yacht Club announces the launch of the ApeChain mainnet
01 How did the ApeChain launch perform?
ApeChain is a Layer-2 network developed by the ApeCoinDAO, built on top of Arbitrum Orbit, aimed at supporting the ApeCoin ecosystem, mainly centered around the Bored Ape (BAYC) community.
Its features include an "auto-yield mode" that allows users to hold ApeCoin and engage in on-chain transactions and provide liquidity.
Currently, ApeChain has attracted the active participation of a large number of applications, games, and other projects, such as the MEME token platform Ape Express, similar to Pump.fun, and the trading simulation game platform Top Trader.
The ecosystem projects displayed on the ApeChain website (https://apechain.com/)
The narrative of the chain has been a focus of development by one of the founders of Yuga Labs, Greg Solano, since he resumed the role of CEO. After the new chain was launched, Degen players rushed in and started hyping up the new chain's MEME tokens. Let's take a look at the performance of Apechain on the first day:
2,640 tokens were created on the Ape Express platform
55 MEME tokens successfully completed their initial offering
7 MEME tokens with a market cap of over $1 million appeared
Over $50 million in trading volume
This performance is quite impressive.
02 How can new players participate in ApeChain?
So, do new players still have a chance to get involved? The answer is: yes.
If new players want to enter the market now, the timing is still good, as the first wave of PVP has ended, and the leading MEME tokens have stabilized. Moreover, according to the ecosystem introduction on the official website, in addition to the MEME infrastructure, there will be many games launching in the future.
Here's a detailed introduction on how to participate in ApeChain:
Cross-chain: The first step to the new chain is definitely cross-chain. The gas fee token of ApeChain is the $Ape token. The official bridge (https://apechain.com/portal) currently supports the Ethereum mainnet and Arbitrum, and can cross multiple tokens, but be aware of the slippage. Currently, only $Ape cross-chain has no slippage. For third-party bridges, Stargate can be chosen, but it only supports $Ape cross-chain.
Find MEME tokens: If it's an initial offering, you can look for new valuable MEME tokens on Ape Express. If it's already listed on a DEX, you can use Dexscrenner, select ApeChain, and you'll see the current MEME token hype ranking on the chain. It's not recommended to buy tokens with a relatively low market cap.
Swap: The mainstream DEX currently is Camelot, while DYORSwap supports fewer tokens. Open Camelot, select ApeChain, and your wallet will automatically add the RPC. Then you can directly swap for the token you want to buy.
The trading interface of the $CURTIS token on Ape Express (not a recommendation, just an example)
In addition to playing MEME, Top Trader (@Toptrader_xyz) has also launched in the ApeChain ecosystem. This is a platform that provides trading simulation. The gameplay is actually quite simple:
Pay 10 $Ape to participate in the day's trading competition.
You will initially receive 10,000U of game currency, and then you can trade the supported tokens on the trading platform, with a minimum leverage of 100x and a maximum leverage of 1,000x. If you run out of game currency, you can continue to buy tickets to get new game currency.
The top-ranking traders will share 50% of the competition prize pool.
Top Trader simulation trading interface, showing clicking the bottom left to pay 10 $Ape
If you are a very skilled trader, you can try to see if you can win the reward. If you are not a very skilled trader, you can also participate to grab the airdrop.
03 Risk Warning
The rapid rise of ApeChain has attracted widespread attention in the market. Although the market response has been very positive so far, the demand side of ApeChain still lags behind mainstream blockchains like Ethereum and Solana.
Considering factors such as the number of token holders and liquidity issues that may affect long-term development, whether ApeChain has the potential to create a wealth effect or will gradually cool down after the hype remains to be seen. Caution is still needed.
