ApeCoin DAO Special Council Member Gerry Asked The Community For Their Thoughts On $Ape Staking
As the ApeCoin DAO’s staking system quickly approaches the one-year anniversary of its launch, ApeCoin DAO Special Council Member Gerry is gauging the community’s interest in possibly changing the reward structure going into year two of the protocol.
On May 4th, 2022, the ApeCoin DAO passed AIP 21& 22 that established the ApeCoin DAO’s staking system and reward schedule.
As a result, the ApeCoin DAO’s system will have distributed 100 million $Ape across the protocols four staking pools by December 12, 2023, with the ApeCoin only pool receiving 30,000,000 $Ape, the BAYC pool receiving 47,105,000 $Ape, the MAYC pool receiving 19,060,000 $Ape and the Paired BAKC pool receiving 3,835,000 $Ape, according to ApeStake.Io.
Beginning on December 12, 2023, the protocol is slated to distribute another 50,000,000 $Ape across the four staking pools by December 12, 2024 followed by an additional 25 million $Ape tokens being distributed across the four pools by December 12, 2025. In total that's 175 Million $Ape distributed across the four staking pools over the protocols three year life.
With another 75,000,000 $Ape slated to be distributed as staking rewards over the next two years, ApeCoin DAO Special Council Member Gerry took to Twitter and asked the community how they feel about the protocol and whether they’d like to change the reward structure.
“Ok well....I guess it's time we address staking too,” Gerry tweeted along with a poll that asked what ApeCoin DAO Contributors would like to see next. “Let's get this conversation started. We don't have a lot of time.”
“The 1st staking period ends on December 11th,” Gerry told the Gazette. “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.”
The Bored Ape Gazette will continue to follow the ApeCoin DAO’s staking protocol and will let you know if and when more information on possible changes to the system are formally proposed. Stay tuned for updates!