STAKING ON APECHAIN: ApeCoin’s Three NFT-Based Pools Are Now Live On ApeChain!

It’s official, the ApeCoin DAO’s three NFT-based staking pools have migrated from Ethereum mainnet and are now live on ApeChain!

Things were anything but boring around the swamp on Tuesday as the DAO’s Bored Ape-only, Mutant Ape-only, and Bored Ape Kennel Club-only staking pools closed on Ethereum and reopened on ApeChain, utilizing Yuga Labs’ new Shadow tech.

 

“NFT staking rewards are now live ON APECHAIN,” the DAO tweeted this afternoon. “To accrue rewards you'll need to stake $APE on the new https://apechainstake.io website.”

 

While this move is a big win for ApeChain, and will likely bring even more Apes, Mutants, and Doggos into the ecosystem, everyone needs to double-check their wallets today and make sure they are ready to stake on ApeChain.

Remember, “You do not need to bridge your ape, your Shadow will act as your staking key," accoridng to Yuga Labs VP of Blockchain 0xQuit. “You do need to bridge your ApeCoin. Withdraw from ApeStake, bridge, and then deposit on the new site."

To get started, holders must unstake their tokens from the old Ethereum-based protocol. This can be done by either visiting the original ApeStake.io website or unstaking and claiming $APE directly via the Ethereum mainnet contract.

To unstake via the old ApeStake.Io platform, check out the DAO’s video below:

For help using the contract directly, check out Former Special Council Member Gerry’s 2022 tutorial:

 

Once you’ve unstaked your $APE, it’s time to set up your NFTs’ ApeChain Shadows. These Shadows serve as your access key to the new protocol.

These Shadows either live in the same wallet as your original Ethereum NFTs (but on ApeChain), or in a separate wallet delegated via Delegate.xyz.

For more on how to delegate Shadows from a vault to a hot wallet, check out the DAO’s latest tutorial:

 

After Shadows are set, users must bridge their Ethereum-based $APE to ApeChain using Relay or the ApeChain portal: https://apechain.com/portal

 

After bridging, simply head to https://www.apechainstake.io and deposit your $APE into the appropriate NFT-based staking pool.

 

The Bored Ape Gazette is working to bring you additional coverage of today’s staking move. Stay tuned for updates!