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  • Writer's pictureKyle

The ApeCoin DAO's Staking System Is Live. See How Much $Ape Has Been Staked So Far:

The ApeCoin DAO’s staking system launched today and $Ape holders have begun accumulating their $Ape staking rewards.

“Ape Staking Update: Rewards for staked $APE are now LIVE and accruing,” Horizen Labs tweeted this afternoon. “Shout-out to the Ape Community for your patience throughout the project. We hope your staking journey is a rewarding one.”

At the time of this article’s publication, 67,429,383 $Ape or $293,000,000 USD has been staked so far, according to Etherscan data.

As the $Ape community begins claim their rewards; now is a great time to remind users to unstake their coins prior to selling their Yuga Labs NFTs.

“A user’s staked $Ape belongs to the owner of the corresponding NFT,” Horizen Labs Co-Founder Dean Steinbeck previously told the Bored Ape Gazette. “If you sell your NFT before removing it from the platform you are essentially selling your NFT along with your staked $Ape. I really hope users are careful and pay attention to this feature. We’re doing our best to educate users but hopefully others can spread the word too.”

For $Ape holders who have yet to stake their $Ape, there are many options staking options available such as Horizen Labs’ ApeStake and staking through the contract via Etherscan.

As the Bored Ape Gazette previously reported, there are five different staking options that seem to be particularity popular with the $Ape community.

Check out How $Ape holders are staking their coins below:

1. Apestake

ApeStake.Io is an ApeCoin staking user interface that was built by Horizen Labs.

The downside to ApeStake is that users from several countries have been geoblocked, including the United States.

“Please not that 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.”

Users who would like to use this option can do so by going to the ApeStake website:

2. Binance

Last week, cryptocurrency exchange, Binance, announced its new “APE NFT Staking Program.”

In the company’s blog post, Binance explained that BAYC and MAYC NFT holders will be able to deposit their NFTs via Binance’s “newly optimized deposit process" and receive daily $Ape daily rewards. Bored Ape and Mutant Ape holders will not need to stake any of their own $Ape tokens along with their NFTs to generate a daily $Ape return, based on the blog post.

Check out Binance’s new “Stake to Earn $APE” page here:

3. Bend DAO

Earlier this week Bend DAO, a decentralized peer-to-pool based NFT liquidity protocol, announced that it would host $Ape staking.

“BendApeStaking officially goes live on #BendDAO,” the company tweeted on December 6th.”Anyone holding Yuga assets is able to join the #ApeCoin Staking via BendDAO. #BAYC #MAYC $ApeCoin #BAKC Best Yield Opportunities Unstake Anytime Let’s go pairing”

Users who are interested in checking out Bend Dao's platform can find out more here:

4. ParaSpace

ParaSpace, a cross- margin universal lending protocol, recently announced that it would be hosting $Ape staking.

“ $APE Staking features are live on ParaSpace’s testnet site for users to demo! Features: Pair #BAYC/#MAYC+ $APE from wallet and/or borrow from $APE coin pool Supply $APE to earn yield Plus all benefits of ParaSpace v1.”

Users who would like to find out more about ParaSpace' ApeCoin staking can check out its website here:

5. Staking via Etherscan

Another popular staking option that some $Ape holders have gone with is staking through the contract via Etherscan.

To help the $Ape community stake through the contract, two well-known Bored Ape Yacht Club members made step by step guides on staking through Etherscan.

You can check out BAYC member 0xQuit’s and BAYC member Gerry’s posts below:

The Bored Ape Gazette will continue to follow the various staking options and will keep you posted on all things $Ape! Stay tuned for updates!

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