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  • Writer's pictureKyle

ApeCoin DAO Contributors Are Discussing What To Do With $Ape Staking. Here's What You Need To Know:

To stake, or not to stake; that is the question that has been asked many times over the last month at the ApeCoin DAO, and many community members have taken to the DAO’s Discourse page to share their thoughts on what the DAO should do going forward.

December 11, 2023, will mark the end of the ApeCoin DAO’s first year of staking. By then, a total of 100 million $Ape will have been distributed to $Ape stakers across the DAO’s four staking pools with another 75 million $Ape slated to be distributed to stakers over the next two years.

On October 13th, Special council Member Gerry conducted a Twitter poll on staking with the majority of respondents voting that they’d like to see major changes to the DAO’s currenting stkaing system with 44.5% of the vote saying they want to eliminate the $Ape only pool and another 38.6% of voters saying that they’d like to end staking altogether.

“The 1st staking period ends on December 11th,” Gerry told the Gazette last month. “The original (period 1) allocations were formulated based on the relative floor price of the three NFT tokens, BAYC, MAYC, and BAKC. We need to decide on the 2nd period allocations and either do nothing and leave them the same, adjust them based on floor prices which would give BAYC even more of the lions share based on relative floor price to the other two assets, or since we're past 3 months, adjust entirely. We could stop staking, increase it, reallocate it elsewhere. Putting out the poll was simply a way to get the conversation going. I think this is going to be quite contentious either way.”

Since Gerry’s initial post, many ApeCoin DAO Contributors have shared their thoughts and opinions on what they’d like to see happen with $Ape staking and there are conversations on Discourse ranging from ‘Leave Staking the F alone!’ and ‘Ending ApeCoin Staking - Completion of Year 1’ to ‘Slash the BAYC/MAYC/BAKC Staking Pools.’

Today, Special Council Member, CapetainTrippy, posted his own poll on Twitter asking the community what they'd like to see the DAO do with staking.

Based on the current results to CapetainTrippy's poll, the community is divided with 35% voting stop it, 30.6% voting change it, and 34.4% of participants voting leave it the F alone.

At the time of this article’s publication, none of these ideas/ conversations have risen to the level of an AIP draft and no changes to the DAO’s staking reward structure are slated to go up for a vote.

ApeCoin DAO Contributors can ape into the staking conversations on the DAO’s discourse page here:

The Bored Ape Gazette will continue to follow $Ape staking and will let you know if any changes are officially proposed. Stay tuned for updates!

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