IT’S GETTING HOT ONCHAIN: $Ape Micro Burns Recently Arrived On ApeChain And Could Come To More dApps Soon, According To 0xSimpleFarmer

Between Ethereum mainnet, ApeChain, and all of Web3, there’s a billion ApeCoin outstanding… for now.

$Ape Micro Burns recently arrived on ApeChain and may soon be coming to every dApp, as the ApeCo team experiments with a new feature that will turn regular transactions into deflationary events, according to ApeCoin’s Head of DeFi, 0xSimpleFarmer.

On Thursday, SimpleFarmer stopped by The Grateful Show to discuss all things ApeCoin. There he about the token’s upcoming transition into a deflationary coin with the end of the $Ape staking reward program, the completion of token unlocks, and some new onchain maneuvers the team is testing in real time through their recent HellyHustle and Exodus Rising initiatives, which burned a little bit of $Ape with every click!

“On the back end, those protocols were experimenting with the first implementation of what are called $Ape Micro Burns,” he said. “This means essentially that every time you participate with these community activations there’s a little ping sent to a smart contract that’s sending micro burns of ApeCoin to the burn contract.”

 

Looking ahead, SimpleFarmer said that these $Ape Micro Burns could become a builder tool that anyone working on ApeChain could use.

“We want to be creative with the ways that we turn this into essentially a builder tool,” he said. “A tool where any builder on ApeChain can plug in this feature within their smart contract and then when people are trying your Apechain dApps, its more than a TX, it’s a TX that’s leading to the deflation of the asset we are all holding.”

The Bored Ape Gazette will continue to follow these $Ape Micro Burns and will let you know when the ApeCo team makes this feature available around the swamp! Stay tuned for updates!