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  • Writer's pictureKyle

Horizen Labs Co-Founder And Apecoin Board Member Dean Steinbeck Gave The Community A Staking Update

During today’s ApeCoin Twitter space, Horizen Labs Co-Founder and Ape Foundation Board Member, Dean Steinbeck gave the community an update on staking.

“On the $Ape staking proposals we are busy progressing and having a lot of success,” Steinbeck explained. “Almost complete with the user experience piece of this. Starting on the smart contracting, almost complete there as well. So not to put words in my team’s mouth, but I think we’re meeting all of our deadlines, and everything is moving according to the roadmap.”

As the Bored Ape Gazette previously reported, on May 4th, 2022, the $Ape community voted in Favor of AIP-21 “Staking Process with Caps (1x drop)” and AIP-22 “Staking Pool Allocation Reloaded - Ecosystem Fund Allocation.” Each of these proposals passed with over 90% community support.

Nearly two months after the $Ape community voted on and passed a pair of staking proposals, the Ape Foundation announced that Horizen Labs would be building the DAO’s staking system and that holders can expect to start staking their $Ape this autumn.

Horizen Labs is the same company that Yuga Labs partnered with in October 2021 to launch ApeCoin.

As the conversation continued during today’s Twitter Space, Steinbeck went on to say that he believed that the staking protocol will have a positive impact on the $Ape community. “I think this taking protocol, when it goes live, will attract a new segment of participants into the Apecoin environment and into our ecosystem.”

The staking segment ended with Brandon Caruana from the Cartan Group telling the community that staking is still set to come out this fall.

The Bored Ape Gazette will continue to keep the community updated on staking. Stay tuned!

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