Binance Announced A New “Ape NFT Staking Program." Find Out More
As the $Ape community prepares for the ApeCoin DAO’s staking system rewards to go live on December 12th, Binance announced a new way for Bored Ape and Mutant Ape holders to stake their NFTs.
On Tuesday, Binance took to Twitter and announced the company’s new “Ape NFT Staking Program.”
In the company’s blog post, Binance explained that BAYC and MAYC NFT holders will be able to deposit their NFTs via Binance’s “newly optimized deposit process" and receive daily $Ape daily rewards. Bored Ape and Mutant Ape holders will not need to stake any of their own $Ape tokens along with their NFTs to generate a daily $Ape return, based on the blog post.
“Users may choose to stake BAYC or MAYC NFTs for a Flexible Term or Fixed Term of 30, 60, or 90 days,” Binance wrote. “APE daily rewards are subject to the real-time APR displayed on the Ape NFT Staking Program page. Staking for Bored Ape Kennel Club (BAKC) NFTs will be available in the near future.”
The Bored Ape Gazette will continue to follow Binance’s new program and will let you know all the available staking options that become available this week.
$Ape holders have until December 12th to stake their coins before rewards start accruing. The Bored Ape Gazette highly encourages the community to do their own research before using any staking system.
The Bored Ape Gazette will continue to follow the various user interfaces that are built and will keep you posted on which one’s community leaders deem safe. Stay tuned for updates!