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  • Writer's pictureKyle

Horizen Labs Is Set To Give The Community A Staking Update On September 22nd

Horizen Labs, the company tasked with creating the ApeCoin DAO’s staking system, announced that it will be giving the community an update on staking later this month.

“Ape Staking Update: Join us at @ApeCoin on Thursday 9/22 for a Twitter Spaces with the Horizen Labs team,” the company tweeted.

While the company did not specify what information will be released during the upcoming space, many community members expect a major update.

“Looking forward to hear specific, detailed updates about what our @apecoin DAO community can expect as we near staking implementation,” BAYC member Just1n.Eth tweeted.

Recently, Horizen Labs released a 30 second video highlighting the ApeCoin staking system.

In the video, Horizen Labs showed the community three different slides that detailed the various sections of the staking system.

In the first part of the video, Horizen Labs reminded the community that there will be four different pools where $Ape holders can stake their $Ape depending on what NFTs they own.

In the next part of the video, Horizen Labs showed the community what its’ “ApeStake” dashboard will look like.

“Provided is an overview of all your staked positions,” the mock image stated. “Enter into new positions and manage existing positions by depositing, withdrawing, and claiming rewards.”

Then in the final part of the video, Horizen Labs announced that it was building market tools into the staking system that will give users the ability to “gain insight with wallet transparency.”

“Use Market Tools search feature to see whether a BAYC, MAYC, or BAKC is committed to a staking position, how much $Ape is staked with it, and the associated wallet address,” the mock image stated.

As the Bored Ape Gazette previously reported, The Ape foundation announced that Horzien Labs was selected to create the staking system for the ApeCoin DAO on July 22nd.

At the time, Horizen Labs said that ApeCoin staking will begin this Autumn. This means that staking could begin any time between Friday September 23rd and Wednesday December 21st, 2022.

The Bored Ape Gazette will continue to follow Horizen Labs and the ApeCoin DAO and will let you know when staking begins!

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