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  • Writer's pictureKyle

The Digital Art Movement's $Dam Staking Begins July 1st! Find Out More:

A new kind of staking season is about to begin around the swamp as MachiBigBrother’s ApeCoin DAO-funded Digital Art Movement invites $Ape holders to lock up their coins and earn $Dam tokens starting on July 1st!


Eight months after the ApeCoin DAO voted in favor of allocating 11 million $Ape to MachiBigBrother’s Digital Art Movement proposal, he and his team have purchased 153 Bored Apes, 19 Mutant Apes, and other NFTs.




Now, they are invting the ApeCoin community to lock up their $Ape and start earning $Dam tokens, which represent fractionalized ownership and control of the initiative’s top tier collection.


“$DAM token distribution will begin at 2am Pacific Daylight Time Monday July 1st, on @Blast_L2,” the Digital Art Movement tweeted. “You can now stake your $APE on Ethereum Mainnet to earn both $DAM tokens as well as Apecoin staking rewards at http://app.damdao.org."





As the Bored Ape Gazette previously reported, the $Dam  will have a total supply of 10 billion coins with three billion distibuted to $Ape holders who lock their coins over the next five years and the remining seven billion placed in the token’s treasury which $Dam holders will control.



Along with purchasing Apes and giving $Ape holders the opportunity to own a piece of this high end collection, the Digital Art Movement’s other goal is to get Apes placed in museums, galleries, and schools around the world.

 

“Digital art remains underrepresented in the art world, I want to change this,” MachiBigBrother wrote in his proposal. “I want digital art to be omnipresent. By creating and curating the Digital Art Movement Collection (aka “The DAM Collection”), we can proliferate appreciation for digital art worldwide thus leading to education and adoption. There’s no better group of people than ApeCoin DAO members to cement our place in digital art history."


The Bored Ape Gazette is working to find out more about $Dam staking and will bring you an interview with the team later this week. Stay tuned for updates!

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han gu
han gu
Jul 04

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