The ApeCoin DAO's Staking Pre-Commitment Period Began Today. Here's What You Need To Know:
The ApeCoin DAO’s highly anticipated staking system’s pre-commitment period went live today and $Ape holders are now able to place their coins in the four staking pools.
“Ape Staking Update: The day is finally here, $APE holders,” Horizen Labs tweeted this afternoon. “http://ApeStake.io...is now LIVE! Pre-commitment period starts now. 1) Go to http://ApeStake.io 2) Connect your wallet 3) Stake your position. On December 12th, rewards start accruing. Get ready!”
In total, the ApeCoin DAO’s staking system features four different staking 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.
As the Bored Ape Gazette previously reported, Horizen Labs’ ApeStake user interface will not be available to a large swath of the $Ape community.
“Please not that ApeStake.io will be available to users in most countries; however users in the following countries or regions will be geoblocked: United States, Canada, North Korea, Syria, Iran, Cuba, Russia, Crimea, Donetsk, and Luhansk,” Hozien Labs posted on November 23rd. “We are aware that geoblocking some users in North America is inconvenient for many members of the ApeCoin community. Unfortunately in today’s regulatory environment, we had no good alternative.”
While many $Ape holders will be unable to use Horizen Labs’ staking system, the company's Co-Founder and ApeCoin DAO Special Council member, Dean Steinbeck, previously told the Bored Ape Gazette that he anticipates a ton of alternative staking options for geo-blocked $Ape holders.
“The smart contract is open source and can be accessed by anyone, anywhere,” Steinbeck previously said. “I expect many third parties to offer UI that interacts with the smart contract and be available to users in jurisdictions that our UI does not service.”
Note, $Ape holders have seven days to stake their coins before rewards start accruing. The Bored Ape Gazette highly encourages the community to do their own research before using any unknown staking system.
The Bored Ape Gazette will continue to follow the various user interfaces that are built and will keep you posted on which one’s community leaders deem safe. Stay tuned for updates!