Airdrop Information, Internal News

IMPORTANT UPDATE: Token-Swap 1:1 – $APE to $APEc (ApeCash to ApeCash Coin)

+++ IMPORTANT COMMUNITY UPDATE: Please read this carefully and follow the instructions! +++

Dear Community, for technical reasons we have to perform a token swap. We will be swapping APE 1:1 for APEc – APE will be deprecated and only APEc will continue.

We explain the reasons in detail below (and how this swap is essential for the progress of the project and of value to the community), but as a preliminary point here is the most important information for Holders and to be fulfilled Airdrop applicants:

The swap will be delivered automatically to all Holders and to-be-fulfilled Airdrop applicants. All you have to do is add the new contract address to your wallet and you will receive APEc in the same amount you hold.

Add this contract address to receive the 1:1 swap of APE to APEc:

  • Contract Address: 0xc956fdb88d2e5b71e22d63313624e42d4757e7f9
  • Name: ApeCash Coin
  • Symbol: APEc
  • Decimals: 18

The new token ApeCash Coin on Etherscan.

Repetition for emphasis:

If you hold APE (ApeCash) or are destined to still receive APE in the airdrop, all you have to do is add the new contract and you will automatically get the new token APEc in the same amount you held APE.

SUMMARY:

  1. Everybody who already has APE will receive APEc automatically 1:1
  2. Everybody who was still supposed to receive APE from Airdrop in distribution will automatically receive the new token APEc
  3. Everyone has to add the new contract address

For reasons of transparency, here is detailed explanation of why we have to execute this swap to a new token and smart contract.

The reason for the swap

As you know if you have read our white paper, the ApeCash Project started as just for fun. Quote:

Initially, the $APE smart contract was deployed purely on a whim, out of interest for crypto, and the wish to create a token. (…) As the first excitement waned, we started to reflect on the matter: What if we could create something lasting out of this? What if, despite the fact we aren’t developers, we could use this for a greater good, to make a difference? That night the ApeCash Project was born.

In an effort to create a smart contract that is not bloated and is as lean as possible, our team went a tad overboard and created a contract that was too lean.

This led to a problem we only discovered when doing a new audit this past week:

Due to the omittance of an elementary function, APE would not have been able to be traded on many exchanges, effectively rendering the token use- and worthless to the project and community. (To elaborate: Lacking the Allowance function, third-party smart contracts would not be able to interact with our token, and therefore couldn’t facilitate transactions. You can test it yourself: Try depositing APE on Etherdelta).

This issue has been resolved with our new smart contract – you can view it here on Etherscan. Not only will now be able to pass audits von many exchanges, we will also be able to airdrop the token much faster, guaranteeing that holders and remaining applicants still waiting for fulfillment of the airdrop alike will receive their tokens faster than previously.

What happens to the APE token?

Nothing for now. You can send it to be burned, but the APE token itself is worthless. From now on, we work with APEc.

We express our sincerest apologies for this issue and hope you forgive us. We choose to be fully transparent about this as we feel this is the best way to go. If you still have questions, reach out in our community chat on Telegram.

New Logo and website

We will use this opportunity to also launch our new logo. This is the new logo for the ApeCash Project as well as the ApeCash Coin:

ApeCash_Logo_onwhite

We will roll out this logo over the next few days on all our platforms, channels and documents.

In addition, our website will get a redesign in the coming days, so stay tuned.

And please make sure to add the new contract address!

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