STAKING TIMELINE: The ApeCoin Community Got An Update On When Staking Will Begin
After the ApeCoin DAO passed an Ape Improvement Proposal to create and fund a staking bug bounty program, the community got an updated timeline for the DAO’s highly anticipated staking system launch.
On Wednesday Horizen Labs, the company that built the ApeCoin DAO’s staking system held a Twitter space with the Cartan Group’s Brandon Caruana. During the Twitter space, Horizen Labs Co-Founder and ApeCoin DAO Special Council Member Dean Steinbeck informed the community of the current $Ape staking timeline.
Steinbeck said that Horizen Labs is set to deploy the $Ape staking system on November 28th if the bug bounty program does not find any major issues.
After the staking system is deployed on November 28th, Steinbeck said that $Ape holders will have two weeks to commit their $Ape to the staking contract before awards begin.
As the Bored Ape Gazette previously reported, the ApeCoin DAO’s staking system will consist of four different $Ape pools.
The first pool is the “ApeCoin Pool.” This pool does not require the user to hold an NFT and any $Ape holder can commit as much $Ape as they want to this pool.
The second pool is the “BAYC Pool.” This pool requires the user to hold a Bored Ape to stake in it. In the BAYC Pool, users are allowed to commit up to 10,094 $Ape per Bored Ape they hold.
The third pool is the “MAYC Pool.” This pool requires the user to hold a Mutant Ape to stake in it. In the MAYC Pool, users are allowed to commit up to 2,042 $Ape per Mutant Ape they hold.
The fourth and final pool is the “Paired Pool.” This pool is different from the BAYC and MAYC pools because users not only need to own a Bored Ape Kennel Club Dog, but they also need to own a Bored Ape or Mutant Ape. Users who own a Bored Ape/ Mutant Ape and a BAKC Dog can commit up to 856 $Ape per pair they own.
The Bored Ape Gazette will continue to follow the ApeCoin staking system and will keep you posted on the bug bounty program. Stay tuned for updates!