RETURN TO MONKE: ApeCoin's $APE Only Staking Pool Is Moving To ApeChain Next Week!

Attention, $APE holders! If you’ve been staking your $APE in the $APE-only pool on Ethereum’s mainnet, it’s time to make a move. Starting next Tuesday, November 19th, rewards from the ApeCoin DAO’s $APE-only Staking Pool will be directed exclusively to $APE that’s been bridged to ApeChain.

Change is in the air this staking season. The ApeCoin DAO has announced that rewards from the $APE-only staking pool will now only be available for $APE bridged from Ethereum to ApeChain. So, if you haven’t moved your $APE yet, now is the time!

“ApeCoin staking is moving to ApeChain,” the DAO tweeted. “To continue receiving $APE staking rewards, simply bridge to ApeChain $APE balances automatically increase every ApeChain block, compounding yield $APE rewards, native yield. Every. Single. Block. Bridge now: https://apechain.com/portal”

Note: This update only affects the $APE-only pool. If you’re currently staking your coins in the BAYC, MAYC, or Paired B/MAYC Bored Ape Kennel Club Dog pools, you do NOT need to do anything. You will continue to earn staking rewards as you have been for the past two years!

 

“Note that the BAYC/MAYC/BAKC pools will remain on Ethereum mainnet on the http://ApeStake.io contract At this time,” the DAO reiterated. “The only change is to the $APE-only pool.”

 

For more information on bridging your $APE to ApeChain so you can continue to earn rewards during this year and next year’s staking season, check out the ApeChain bridge here: https://apechain.com/portal

 

As the Bored Ape Gazette previously reported, the $APE ecosystem is currently in the second year of its staking rewards program. During this year, a total of 50 million $APE will be distributed across the four staking pools. The final Year 2 rewards will be distributed on or around December 8th, 2024.

Once this Year 2 staking season ends, an additional 25 million $APE will be distributed across the four staking pools during the third and final season of $APE staking, according to the DAO.

 

To learn more about staking, check out the Gazette’s previous report on the various ways $APE holders can stake their coins here: https://www.theboredapegazette.com/post/staking-time-here-are-five-of-the-most-popular-way-s-users-are-staking-their-ape

 

$APE holders can also check out MachiBigBrother’s ApeCoin DAO-funded Digital Art Movement, which allows them to earn $APE rewards along with $DAM tokens representing ownership in the initiative’s top-tier NFT collection. Find out more here: https://app.damdao.org

 

The Bored Ape Gazette will continue to follow the ApeCoin DAO’s staking protocol and will remind you next week when the $APE-only pool officially moves over to ApeChain. Stay tuned for updates!